MIRA INFORM REPORT

Report Date :

30.09.2011

IDENTIFICATION DETAILS

Name :	EICHER GOODEARTH PRIVATE LIMITED
Registered Office :	3^RD Floor- Select Citywalk, A-3 District Centre, Saket New Delhi – 110017, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	03.12.2007
Com. Reg. No.:	55-170978
Capital Investment / Paid-up Capital :	Rs. 7.881 Millions
CIN No.: [Company Identification No.]	U35122DL2007PTC170978
TAN No.: [Tax Deduction & Collection Account No.]	DELE04798D
PAN No.: [Permanent Account No.]	AABCE8813B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Distributors and Import/Exporters of Trucks and Buses, Motorcycles, Automotive Gears and components
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba(42)

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

Maximum Credit Limit :	USD 31000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. The company has improved its performance in the year 2009-10. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. 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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
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 :	3^rd Floor-Select Citywalk, A-3 District Centre, Saket, New Delhi – 110017, Delhi, India
Corporate Office :	Eicher House 12, Commercial Complex, Greater Kailash-II, Masjid Moth, New Delhi- 110048, Delhi, India
Tel. No.:	91-11-6445521/6445523
Fax No.:	91-11-6431929
E-Mail :	vikramlal2@gmail.com/bdjoshi@eicher.in

DIRECTORS

As on 29.09.2010

Name :

Mr. Vikram Lal

Designation :

Whole-time director

Address :

2, Panchsheel Marg, Chanakyapuri, New Delhi- 110021, Delhi, India

Date of Birth/Age :

07.02.1942

Date of Appointment :

03.12.2008

DIN No.:

00046091

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
U74899DL1978PTC009174	Eicher Goodearth Holdings Private Limited	Director	12/04/1989	12/04/1989	-	Amalgamated	NO
U74899DL1978PTC009173	Eicher Investments Private Limited	Director	12/04/1989	12/04/1989	-	Active	NO
U74899DL1987PTC027344	Eicher Holding Private Limited	Director	3/10/1992	3/10/1992	-	Amalgamated	NO
U74899DL1987PTC029156	Sugam Vanijya Holdings Private Limited	Director	27/05/1994	27/05/1994	26/02/2008	Active	NO
U80211DL1999NPL102583	Good Earth Education Foundation	Director	29/11/1999	29/11/1999	-	Active	NO
U99999UR1928NPL002455	Indian Public Schools Society	Director	16/10/2004	16/10/2004	21/12/2010	Active	NO
U34109DL2006PLC152312	Royal Enfield Motorcycles Limited	Director	29/09/2007	22/08/2006	-	Strike off	NO
U35122DL2007PTC170978	Eicher Goodearth Private Limited.	Whole-time director	1/04/2008	3/12/2007	-	Active	NO
U74999HR2000PLC035269	Grow Talent Company Limited	Additional director	25/09/2008	25/09/2008	27/01/2009	Active	NO

Name :

Mrs. Anita Lal

Designation :

Whole-time director

Address :

2, Panchsheel Marg, Chanakyapuri, New Delhi- 110021, Delhi, India

Date of Birth/Age :

15.05.1948

Date of Appointment :

03.12.2008

DIN No.:

00046190

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
U74899DL1978PTC009174	Eicher Goodearth Holdings Private Limited	Director	10/08/1978	10/08/1978	-	Amalgamated	NO
U74899DL1978PTC009173	Eicher Investments Private Limited	Director	10/08/1978	10/08/1978	-	Active	NO
U74899DL1987PTC027344	Eicher Holding Private Limited	Director	19/03/1987	19/03/1987	-	Amalgamated	NO
U74899DL1987PTC029156	Sugam Vanijya Holdings Private Limited	Director	30/03/1988	30/03/1988	26/02/2008	Active	NO
U80211DL1999NPL102583	Good Earth Education Foundation	Director	10/04/2000	10/04/2000	-	Active	NO
U35122DL2007PTC170978	Eicher Goodearth Private Limited.	Whole-time director	1/10/2008	3/12/2007	-	Active	NO

Name :

Ms. Simran Lal

Designation :

Whole-time director

Address :

2, Panchsheel Marg, Chanakyapuri, New Delhi- 110021, Delhi, India

Date of Birth/Age :

28.06.1971

Date of Appointment :

16.09.2009

DIN No.:

01295100

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
U74899DL1987PTC029156	Sugam Vanijya Holdings Private Limited	Director	31/03/1990	31/03/1990	26/02/2008	Active	NO
U74899DL1978PTC009174	Eicher Goodearth Holdings Private Limited	Director	28/09/1992	28/09/1992	-	Amalgamated	NO
U74899DL1987PTC027344	Eicher Holding Private Limited	Director	4/09/2004	4/09/2004	-	Amalgamated	NO
U74899DL1978PTC009173	Eicher Investments Private Limited	Director	4/09/2004	4/09/2004	-	Active	NO
U35122DL2007PTC170978	Eicher Goodearth Private Limited.	Whole-time director	29/09/2009	16/09/2009	-	Active	NO

Name :

Ms. Tara Lal

Designation :

Whole-time director

Address :

2, Panchsheel Marg, Chanakyapuri, New Delhi- 110021, Delhi, India

Date of Birth/Age :

20.09.1978

Date of Appointment :

16.09.2009

DIN No.:

00053844

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
U74899DL1978PTC009174	Eicher Goodearth Holdings Private Limited	Director	4/09/2004	4/09/2004	-	Amalgamated	NO
U74899DL1987PTC027344	Eicher Holding Private Limited	Director	4/09/2004	4/09/2004	-	Amalgamated	NO
U74899DL1978PTC009173	Eicher Investments Private Limited	Director	4/09/2004	4/09/2004	-	Active	NO
U35122DL2007PTC170978	Eicher Goodearth Private Limited.	Whole-time director	29/09/2009	16/09/2009	-	Active	NO

Name :

Mr. Ravi Sikka

Designation :

Director

Address :

R-827, New Rajinder Nagar, New Delhi-110060, Delhi, India

Date of Birth/Age :

20.05.1953

Date of Appointment :

16.09.2009

DIN No.:

00035613

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
U74899DL1959PTC003071	Goodearth Engines Private Limited	Director	22/09/1994	22/09/1994	-	Strike off	NO
U65910DL1987PLC029155	Eicher Motors Finance Limited	Director	22/09/1994	22/09/1994	-	Strike off	NO
U51103TN1981PLC008625	Royal Enfield Sales Limited	Director	8/06/1998	8/06/1998	-	Strike off	NO
U74999DL1994PLC059108	Eicher Footwear Limited	Director	16/03/2000	16/03/2000	-	Active	NO
U34102DL1959PLC003069	Eicher Goodearth Investments Limited	Director	16/12/2005	16/12/2005	-	Amalgamated	NO
L34100DL1955PLC079688	Eicher Limited	Director	29/09/2007	3/05/2007	-	Amalgamated	NO
U74140DL1991PTC046601	Ecs Private Limited	Director	10/09/2007	6/08/2007	24/12/2008	Active	NO
U74900DL2008PLC175032	Ve Commercial Vehicles Limited	Director	7/03/2008	7/03/2008	26/05/2008	Active	NO
U35122DL2007PTC170978	Eicher Goodearth Private Limited.	Director	29/09/2009	16/09/2009	-	Active	NO

Name :

Mr. Lalit Nirula

Designation :

Director

Address :

A-13, Anand Niketan, New Delhi-110021, Delhi, India

Date of Birth :

23.12.1942

Date of Appointment :

09.12.2009

DIN No :

00152977

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
U34102DL1959PLC003069	Eicher Goodearth Investments Limited	Director	14/11/1991	14/11/1991	-	Amalgamated	NO
U74899DL1994PTC060147	Lmn Investments And Agriculture Private Limited	Director	11/07/1994	11/07/1994	-	Active	NO
U35122DL2007PTC170978	Eicher Goodearth Private Limited.	Director	29/09/2010	9/12/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2010

Names of Shareholders	No. of Equity Shares
Vikram Lal	551
Anita Lal	17306
Eicher Goodearth Trust, India	18188
The Simran Siddhartha Tara Benefit Trust, India	15250
The Brinda Lal Trust, India	2700
Rukmani Joshi	2000
Simran Lal	31
Tara Lal	31
Siddhartha Lal	31
Ravi Prakash	36
H D S Malhotra	36
O P Vaish	36
The Lal Family Trust, India	22586
Madhu Bala Gupta	3
Raksha Kumari Bahl	1
V Sundrarajan	1
Chandi Prasad Nawani	29
Total	78816
Name of Shareholders	No. of Preference Shares
Eicher Goodearth Trust	233
Anita Lal	215
The Simran Siddhartha Tara Benefit Trust, India	196
The Brinda Lal Trust, India	35
Rukmani Joshi	26
Simran Lal	1
Tara Lal	1
Vikram Lal	2
Siddhartha Lal	1
Eicher Investments Private Limited, India	1
The Lal Family Trust, India	289
Total	1000

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2010

Category	Percentage
Directors or relatives of Directors	25.37
Other top fifty shareholders	74.52
Others	0.11
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Distributors and Import/Exporters of Trucks and Buses, Motorcycles, Automotive Gears and components

PRODUCTION STATUS AS ON 31.03.2010

Particulars	Unit	Licensed Capacity	Installed Capacity*	Actual Production
Pots	Nos.	NA	Not ascertainable	271
Tableware	Nos.	NA	Not ascertainable	**

*As certified by a Director and accepted by the auditors, being a technical matter

*Due to diverse nature of items, it is not practicable to furnish quantitative information.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Banks
Term Loans	0.000	2.563
Cash Credit	0.000	6.747
Total	0.000	9.310
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Others	0.000	15.500
Total	0.000	15.500

Banking Relations :	--
Auditors :
Name :	N. Bhal and Company Chartered Accountant
Address :	C-192 Sarvodaya Enclave, New Delhi – 110017, Delhi, India
PAN.:	AADFN1752B

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.100/- each	Rs.10.000 Millions
5600000	Preference Shares	Rs. 100/- each	Rs.560.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
78816	Equity Shares	Rs.100/- each	Rs.7.881 Millions
1000	Preference Shares	Rs.100/-each	Rs.0.100 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		7.981	7.873	0.100
2] Share Application Money		0.000	0.000	7.773
3] Reserves & Surplus		2171.071	2195.141	182.058
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2179.052	2203.014	189.931
LOAN FUNDS
1] Secured Loans		0.000	9.310	291.820
2] Unsecured Loans		0.000	15.500	3.287
TOTAL BORROWING		0.000	24.810	295.107
DEFERRED TAX LIABILITIES		12.959	2.696	0.000
Share capital suspense			175.934	0.000
TOTAL		2192.011	2406.454	485.038
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		609.175	586.036	289.814
Capital work-in-progress		104.873	74.031	159.940
INVESTMENT		1256.939	1005.976	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	118.126	168.322	151.417
	Sundry Debtors	15.228	18.088	15.549
	Cash & Bank Balances	51.816	481.764	23.659
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	162.304	152.544	85.651
Total Current Assets		347.474	820.718	276.276
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	78.811	57.315	225.459
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	47.973	23.493	16.201
Total Current Liabilities		126.784	80.808	241.660
Net Current Assets		220.690	739.910	34.616
MISCELLANEOUS EXPENSES		0.334	0.501	0.668
TOTAL		2192.011	2406.454	485.038

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	659.892	57.606	NA
		Other Income
		TOTAL (A)	659.892	57.606	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses	NA	NA	NA
		Advertising Expenses
		TOTAL (B)	589.634	40.977
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		70.258	16.629	87.382
Less	FINANCIAL EXPENSES (D)		0.583	24.350	33.771
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		69.675	(7.721)	53.611
Less/ Add	DEPRECIATION/ AMORTISATION (F)		27.814	23.366	12.911
	PROFIT BEFORE TAX (E-F) (G)		41.861	(31.087)	40.700
Less	TAX (I)		10.263	12.341	12.282
	PROFIT AFTER TAX (G-I) (J)		31.598	(18.746)	28.418
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD
Less	APPROPRIATIONS
		Proposed Dividend	15.763	0.000	0.000
		Transfer to General Reserve	3.160	0.000	0.000
		Dividend	2.618	0.000	0.000
	BALANCE CARRIED TO THE B/S		10.057	(18.746)	28.418
	EARNINGS IN FOREIGN CURRENCY
		FOB value of exports	6.945	7.362	3.372
	TOTAL EARNINGS		17.002	11.384	31.790
	Earnings Per Share (Rs.)		400.91	(30.55)	360.94

Particulars	31.03.2010	31.03.2009
Sales Turnover	659.892	57.606

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	4.79	32.54	NA
Net Profit Margin (PBT/Sales)	(%)	6.34	53.96	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.38	2.21	12.88
Return on Investment (ROI) (PBT/Networth)		0.02	0.01	0.21
Debt Equity Ratio (Total Liability/Networth)		0.05	0.04	2.83
Current Ratio (Current Asset/Current Liability)		2.74	10.15	1.14

LOCAL AGENCY FURTHER INFORMATION

Merger of Eicher Goodearth Investments Limited (EGIL)

During the financial year, the Hon'ble .High Court of Delhi vide its order dated 271h October, 2009 had approved the Composite Scheme of Arrangement ('Scheme') with effect from 1'' January, 2009 (the 'Appointed Date) for demerger of investment business of Eicher Goodearth Investments Ltd (EGIL) into Eicher Goodearth Private Limited (EGPL) and merger of residual EGIL with Eicher Motors Limited (EML).

As part of the Scheme, the following changes have been effected:

· The investment business of EGIL transferred and vested into the Company and residual EGIL merged with EML with effect from the 'Appointed Date'.

· All the assets and liabilities in relation to the Investment business transferred and vested into the Company.

· In consideration of the transfer and vesting of Investment business, the Company issued 1,000 8% redeemable preference.shares of Rs.100 each fully paid up to the 'Promoters' and 'Promoters Group' of EGIL on a proportionate basis in ratio of their equity shareholding in EGIL. The fraction, if any, arising on issue of preference shares to the 'Promoters' and 'Promoter Group' of EGIL has been rounded off to the nearest integer.

· The Company also issued 1 (One) equity share of the face value of Rs 100 each of the Company for every 12 (Twelve) fully paid up equity shares of the face value of Rs 10 each held by the 'Other Equity Shareholders' in EGIL. Any fraction arising on issue of equity shares to the 'other members' of EGIL has been paid by the Company in cash.

· On the scheme becoming effective, the investment of EGIL in redeemable preference share capital of the Company has been cancelled and accordingly the paid up share capital of the Company stands reduced to the extent of face value of redeemable preference shares held by EGIL in the Company as on the Appointed Date.

Financial Results

The Company has achieved an income of Rs.6598.92 lacs during the year. The net profit after tax is Rs.315.98 lacs.

The operating results are summarized below:

(Rs. In lacs)

	2009-10	2008-09
Operating profit before depreciation & interest	70.258	16.629
Less : Interest Depreciation	0.583	24.350
Profit before tax 418.61 32.19	41.861	31.087
Provision for tax	10.263	12.341
Deferred tax expense 102.63 (5.91)	10.263	(13.745)
Fringe Benefit tax - 14.04	0.000	1.404
Profit after tax 315.98 24.06	31.598	(18.746)
Proposed dividend @ 200% 157.63	15.763	0.000
Dividend Tax 26.18	2.618	0.000
Transfer to General Reserve 3 1.60	3.160	0.000

Dividend

The Directors are pleased to recommend a dividend of 200% (Rs.2001- per Equity Share of Rs.1001- each) for the year ended March 31,2010.

OPERATIONS

The Good Earth Company (TGC)

Business review and future outlook

Your company experienced a growth of 40.68% and closed the year ending 31S' March 2010 with a record sales figure of Rs. 493.200 Millions.

The year saw all the outlets contributing to sales'for the entire year of operation.

Your Company also focused on cost reduction initiatives and it is pleased to say that the Company has been able to save cash outflows by optimum utilization of space, culling out non productive spacesand re negotiating rentals at almost all locations. This will lead to a leaner organization.

The year also saw your Company test launching its new range of products - 'Apparel' at its Khan market outlet .

The mega roll out of the apparel range across all locations is planned for October 2010.

The year also saw your Company opening its 2nd Cafk .This is christened 'Latitude 28' and is situated on the 2"d floor of our Khan market outlet. The Cafb is an integral part of our marketing and has been successful in driving newer footfalls into the store.

The coming year will also see the roll out of the new cosmetic range of herbal products under the brand 'amritam'.

Publishing Division

During the year 2009-10, your Company published following books:

· Mandu Travel Guide - sponsored by Madhya Pradesh State Tourism Development Corporation Ltd (MPSTDC), Bhopal, Government of Madhya Pradesh. Total sponsorship amount is Rs. 0.500 Millions

· Pachhmarhi Travel Guide - sponsored by Madhya Pradesh State Tourism Development Corporation Ltd (MPSTDC), Bhopal, Government of Madhya Pradesh. Total sponsorship amount is Rs. 0.500 Millions

· Buddhist Circuit in Central India - sponsored by Madhya Pradesh State Tourism Development Corporation Ltd (MPSTDC), Bhopal, Government of Madhya'Pradesh. Total sponsorship amount is Rs. 0.500 Millions.

· Chanderi Travel Guide - sponsored by Madhya Pradesh State Tourism Development Corporation Ltd (MPSTDC), Bhopal, Government of Madhya Pradesh. Totalsponsorship amount is Rs. 0.500 Millions

· Ujjain Travel Guide - sponsored by Madhya Pradesh State Tourism Development Corporation Ltd (MPSTDC), Bhopal, Government of Madhya Pradesh. Total sponsorship amount is Rs. 0.500 Millions

· Burhanpur Travel Guide - sponsored by Madhya Pradesh State Tourism Development Corporation Ltd (MPSTDC), Bhopal, Government of Madhya Pradesh. Total sponsorship amount is Rs. 0.500 Millions

· Red Fort - sponsored by Archaeological Survey of India, New Delhi. Total sponsorship amount is Rs. 109.900 Millions.

· Reprinted 3000 copies of Buddhist Trail in Himachal and 5000 copies of Walking with the Buddha.

All the above books are part of the Goodearth Publications and are available for salethrough the retail channel except Red Fort.

In addition to the above, your Company has published brochures on Burhanpur,

Chanderi, Datia and Ujjain for MPSTDC. Total sponsorship amount is Rs. 0.300 Millions.

Maps Division

During the year 2009-10, Maps Division of your Company bas continued on the previous year's initiative to increase its products range. It has helped us to have a better presence in the market and increased involvement with distributors. Your Company has launched two new city maps of Pune and Kolkata. Road maps of Agra, Jaipur, Thiruvanauthapuram and Kolkata were also launched. City map of Mumbai was updated and its new edition was launched. State maps of Kerala and Punjab were also created for'the first time. Your Company also updated road maps of Delhi and Noida.

Corporate identity number of the company	U35122DL2007PTC170978
Name of the company	EICHER GOODEARTH PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	3^rd Floor-Select Citywalk, A-3 District Centre, Saket, New Delhi – 110017, Delhi, India
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	ICICI Bank Limited, Landmarkrace Course Circle, Alkapuri, Baroda – 390015, Gujarat, India Email Id: shanty.venkatesan@icicibank.com
Nature of instrument creating charge	Deed of Hypothecation for securing the stocks and book debts of the Company by way of pari-passu first charge.
Date of instrument Creating the charge	23.07.2009
Amount secured by the charge	Rs. 60.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Cash Credit : IBAR 16.75%p.a, cash credit premia 0.50% p.a. less 2.75% currently applicable ROI 14.50%. LG/BG : Financial guarantees and LC Commission@ 0.75% p.a Terms of repayment Cash Credit and Letters of Credit : 12 months till date i.e. 28.12.2009 Margin Cash Credit (Inventory) – Uniform margin of 25% against all components of inventory Book debts –cover period : 90 days, margin : 25% Extent and operation of the charge Pari-passu first charge on stocks and book debts of the Company
Short particulars of the property charged (Including location of the property)	Stocks of raw materials, goods-in-process, semi-finished and finished goods, consumable stores and spares and such other movables including book debts.

FIXED ASSETS:

· Land :

Freehold

Leasehold

· Buildings

· Plant and Machinery

· Furniture, fixture and office equipment

· Motor Vehicles

· Softwares

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.49.61
UK Pound	1	Rs.76.67
Euro	1	Rs.66.47

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		42

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.