MIRA INFORM REPORT

Report Date :

05.04.2012

IDENTIFICATION DETAILS

Name :	BEST AND CROMPTON ENGINEERING PROJECTS LIMITED
Registered Office :	No. 57 Sterling Road, Nungambakkam, Chennai – 600034, Tamil Nadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.10.1999
Com. Reg. No.:	043385
Capital Investment/ Paid-up Capital:	Rs. 629.159 Millions
CIN No.: [Company Identification No.]	U28920TN1999PLC043385
PAN No.: [Permanent Account No.]	AABCB5248H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Service Provider of Electrical Services, Engineering Project Services, Power Transmission Services, Construction Services, Power Supply Services.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (33)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 3209584
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution

NOTES:

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

ECGC Country Risk Classification List – 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 :	No. 57 Sterling Road, Nungambakkam, Chennai – 600034, Tamil Nadu, India
Tel. No.:	91-44-45964406/91-9444348298
Fax No.:	91-44-45964445
E-Mail :	bellarymurali@yahoo.co.in
	Iinvestorgrievance@bestcormton.com

DIRECTORS

(AS ON 30.09.2011 )

Name :

Mr. Venkataraman Venkateshan

Designation :

Additional Director

Address :

F-401, The Atrium, Old no.49, New no 22, Kalakshetra Road, Thiruvanmiyur, Chennai - 600041, Tamilnadu India

Date of Birth/Age :

09.10.1939

Date of Appointment :

29.03.2010

Din Number:

00004010

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	L99999MH1976PLC034721	ESSAR INVESTMENTS LIMITED	Director	13/09/1991	13/09/1991	-	Active	NO
2	L99999TN1984PLC075902	INDIA SECURITIES LIMITED	Director	28/09/1991	28/09/1991	-	Active	NO
3	U40100GJ1991PLC064824	ESSAR POWER LIMITED	Director	30/10/1991	30/10/1991	20/05/2009	Active	NO
4	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Director	28/11/1991	28/11/1991	-	Active	NO
5	U30006TN1981PLC008616	ESSAR TELEHOLDINGS LIMITED	Director	24/01/1996	24/01/1996	18/09/2009	Active	NO
6	U99999MH1989PLC053280	Essar Projects (India) limited	Director	1/3/2001	1/3/2001	-	Active	NO
7	U72200MH1992PLC064816	ESSAR INFORMATION TECHNOLOGY LIMITED	Director	21/06/2001	21/06/2001	-	Active	NO
8	U31101GJ1995PLC065146	BHANDER POWER LIMITED	Director	30/06/2004	30/06/2004	20/05/2009	Active	NO
9	L65921TN1985PLC049092	LANCOR HOLDINGS LIMITED	Director	30/09/2006	28/12/2005	-	Active	NO
10	U65999MH2005PLC155191	EDELWEISS TRUSTEE SERVICES LIMITED	Director	12/9/2007	1/11/2006	-	Active	NO
11	L29221TN1956PLC000204	BEST & CROMPTON ENGG. LIMITED	Director	22/09/2007	31/01/2007	-	Active	NO
12	U40106TN2007PLC062252	ESSAR POWER TAMILNADU LIMITED.	Director	5/2/2007	5/2/2007	20/05/2009	Active	NO
13	U27310KA2006PTC040237	AMW - MGM FORGINGS PRIVATE LIMITED	Director	29/07/2009	19/05/2008	21/04/2011	Active	NO
14	U11201GJ2002PLC041192	ASIA MOTORWORKS LIMITED	Additional director	19/05/2008	19/05/2008	-	Active	NO
15	U65923TN2007PLC085016	Essar Capital Limited	Additional director	17/06/2008	17/06/2008	18/09/2009	Active	NO
16	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	30/07/2009	4/10/2008	-	Active	NO
17	L85110GJ1975PLC054824	ESSAR PORTS LIMITED	Director	31/07/2009	31/10/2008	5/7/2011	Active	NO
18	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	11/8/2010	4/9/2009	-	Active	NO
19	U28920TN1999PLC043385	BEST & CROMPTON ENGINEERING PROJECTS LIMITED	Additional director	29/03/2010	29/03/2010	-	Active	NO
20	U40300GJ2006PLC063146	Essar Power Hazira Limited	Director	6/8/2011	17/08/2010	-	Active	NO
21	U31101DL2005PLC208862	ESSAR POWER (ORISSA) LIMITED	Director	19/08/2011	17/08/2010	-	Active	NO
22	U67190MH2006PLC163842	ASIA MOTORWORKS HOLDINGS LIMITED	Director	8/6/2011	8/6/2011	-	Active	NO
23	U65993MH2006PTC164007	ARUM INVESTMENTS PRIVATE LIMITED	Director	2/2/2012	2/2/2012	-	Active	NO

Name :

Mr. Mandava Balarama Krishnaiah

Designation :

Additional Director

Address :

Flat No. 106, Green Park Residency, B.K, Guda, SR Nagar, Hyderabad – 500038, Andhra Pradesh India

Date of Birth/Age :

14.08.1950

Date of Appointment :

29.03.2010

Din Number:

00036506

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	L24110AP1984PLC005096	ALUFLUORIDE LTD	Director	12/1/1999	12/1/1999	-	Active	NO
2	U15142AP1991PLC012266	Maha Sree Venkata Narasimha Solvent Oils Private Limited	Director	31/08/2000	31/08/2000	14/03/2012	Active	NO
3	U65999AP2002PTC039747	VENTUREAST TRUSTEE COMPANY PRIVATE LIMITED	Director	7/5/2003	7/5/2003	-	Active	NO
4	L24119AP1984PLC004685	VYBRA AUTOMET LTD	Nominee director	25/05/2004	25/05/2004	1/5/2007	Active	NO
5	U27203AP1987PLC007108	ALTEC CORPORATION LIMITED	Nominee director	30/04/2005	30/04/2005	5/5/2007	Active	NO
6	U32103AP1995PLC036134	PHOTON ENERGY SYSTEMS LIMITED	Nominee director	27/07/2005	27/07/2005	16/07/2007	Active	NO
7	L74999AP1991PLC013391	LANCO INDUSTRIES LIMITED	Nominee director	22/10/2005	22/10/2005	25/05/2007	Active	NO
8	L72200AP1991PLC013264	Enso Secutrack Limited	Director	31/01/2006	31/01/2006	5/5/2008	Active	NO
9	L24110AP1989PLC009500	PHYTO CHEM (INDIA) LIMITED	Director	24/09/2008	30/06/2008	-	Active	NO
10	U18100AP1991PLC013088	FUTURETECH INDUSTRIES LIMITED.	Director	30/07/2008	30/07/2008	29/09/2008	Active	NO
11	U29130AP2006PLC050197	EBC BEARINGS (INDIA) LIMITED	Whole-time director	30/09/2010	26/12/2009	-	Active	NO
12	U28920TN1999PLC043385	BEST & CROMPTON ENGINEERING PROJECTS LIMITED	Additional director	29/03/2010	29/03/2010	-	Active	NO
13	U72200AP2004PTC044250	OGENE SYSTEMS INDIA PRIVATE LIMITED	Nominee director	8/9/2010	8/9/2010	-	Active	NO
14	U51433AP2011PLC073024	BRS Enterprises & Trading Limited	Director	3/3/2011	3/3/2011	-	Active	NO

Name :

Mr. Meka Ramkrishna Varma

Designation :

Whole time Director

Address :

No.102, Nityanandan Street, Vasudevan Nagar, Chennai- 600034, India

Date of Birth/Age :

01.02.1961

Date of Appointment :

29.03.2010

Din Number:

00240520

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	U85110KA1996PLC019875	METCOKE INDUSTRIES LIMITED	Director	3/10/2000	3/10/2000	-	Active	NO
2	U40101TN1997PLC038951	SUJANA POWER (TUTICORIN) LIMITED	Director	13/06/2003	13/06/2003	6/3/2010	Active	NO
3	U40101TN1997PLC038950	SUJANA POWER (GANGIKONDAN) LIMITED	Director	13/06/2003	13/06/2003	6/3/2010	Active	NO
4	U33209TN2004PTC052452	INTEGRATED DESIGN TOOLS INDIA PRIVATE LIMITED	Director	4/2/2004	4/2/2004	-	Strike off	NO
5	U45200AP2004PTC044735	VERMA REALTORS PRIVATE LIMITED	Director	1/12/2004	1/12/2004	-	Active	NO
6	U51909AP2000PTC034031	GANGA EXIM PRIVATE LIMITED	Director	29/09/2006	16/11/2005	2/9/2010	Active	NO
7	U45200AP2007PTC052796	SGI INFRASTRUCTURE PRIVATE LIMITED	Director	17/02/2007	17/02/2007	6/3/2010	Active	NO
8	U45200TN2007PTC062655	KODAI HOUSING PRIVATE LIMITED	Director	8/3/2007	8/3/2007	-	Active	YES
9	U28920TN1999PLC043385	BEST & CROMPTON ENGINEERING PROJECTS LIMITED	Whole-time director	1/4/2010	29/03/2010	-	Active	NO

Name :

Mr. Murali Bellari

Designation :

Whole time Director

Address :

Flat no.3, Ground floor, Rajitha apts, Rajeev Nagar, Hyderabad-500045, India

Date of Birth/Age :

01.07.1955

Date of Appointment :

29.03.2010

Din Number:

01851989

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	U27109AP1990PLC011565	SARITA STEEL AND INDUSTRIES LIMITED	Additional director	19/09/2007	19/09/2007	21/10/2008	Active	NO
2	U27109AP2005PTC046213	GLADE STEEL PRIVATE LIMITED	Director	30/09/2008	21/01/2008	4/6/2010	Active	NO
3	U45200AP2006PLC049148	SCM INFRA DEVELOPERS LIMITED	Director	29/09/2008	5/6/2008	-	Active	NO
4	U65910AP2000PTC033358	GOLKONDA FINANCE AND TRADING PRIVATE LIMITED	Director	29/09/2008	5/6/2008	26/02/2010	Active	NO
5	U29309AP1988PLC008715	SUJANA CAPITAL SERVICES LIMITED	Director	5/6/2008	5/6/2008	5/2/2010	Dormant	NO
6	U18100AP1991PLC013088	FUTURETECH INDUSTRIES LIMITED.	Director	29/09/2009	15/10/2008	15/02/2012	Active	NO
7	U45200MH2008PTC186388	INGENIOUS DEVELOPERS PRIVATE LIMITED	Additional director	15/12/2008	15/12/2008	26/02/2010	Active	NO
8	U27109AP2000PLC033585	VICTORIA STEEL ENTERPRISES LIMITED	Director	29/09/2009	20/04/2009	15/02/2012	Active	NO
9	U28920TN1999PLC043385	BEST & CROMPTON ENGINEERING PROJECTS LIMITED	Whole-time director	1/4/2010	29/03/2010	-	Active	NO

Name :

Mr. Krishnaswamy Ramakrishnan

Designation :

Additional Director

Address :

Flaat 3a. Ramniyam Kalayni, 44 (New) Abhiramapuram 4^th Street, Chennai- 600018, India

Date of Birth/Age :

20.02.1936

Date of Appointment :

29.03.2010

Din Number:

02903930

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	U31100TN1969PTC005780	SHIBSHA INSTRUMENTS (INDIA) PRIVATE LIMITED	Director	29/09/2010	15/07/2009	20/12/2010	Active	NO
2	U28920TN1999PLC043385	BEST & CROMPTON ENGINEERING PROJECTS LIMITED	Additional director	29/03/2010	29/03/2010	-	Active	NO

Name :

Mr. Balachandran Narayanaswamy

Designation :

Whole time Director

Address :

Plot No.41, Road NO.71, Nav Nirman Nagar, Jubliee hills, Hyderabad – 500033, India

Date of Birth/Age :

05.09.1954

Date of Appointment :

29.03.2010

Din Number:

01628319

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	U24239AP2000PLC035648	PLATINA HEALTH TOURISM LIMITED	Managing director	13/11/2000	13/11/2000	22/03/2010	Dormant	NO
2	U45200AP2005PLC047117	PLATINA ENTERPRISES AND RESORTS LIMITED	Director	12/8/2005	12/8/2005	-	Under Process of Striking off	NO
3	L29309AP1990PLC011721	BARTRONICS INDIA LIMITED	Director	25/04/2006	25/04/2006	14/08/2010	Active	NO
4	U72200AP2004PTC044250	OGENE SYSTEMS INDIA PRIVATE LIMITED	Director	1/7/2007	1/7/2007	30/10/2008	Active	NO
5	U93000AP2008PTC062132	LEVANA CONSULTANTS PRIVATE LIMITED	Director	8/12/2008	8/12/2008	-	Active	YES Bottom of Form
6	U28920TN1999PLC043385	BEST & CROMPTON ENGINEERING PROJECTS LIMITED	Whole-time director	1/4/2010	29/03/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Equity Shares
Mr. B. Narayana Swamy	5687800
Mr.M R K Verma	21329200
Ms. M Uma Devi	1421800
Mr. K V S R R Mohan	68
Ms. A Vara Laxmi	1
Ms. K. Sarojin	1
Mr. KSV Satyanarayana	1
Total	28438871

Names of Shareholders	No. of Preference Shares
Micropart International Limited	1384699
Total	1384699

(AS ON 20.02.2012)

List of Allottees	No. of Shares
Micropart International Limited, 303, Aarti Chambers, Victoria Mahe, Republic of Seychellles	6923495

(AS ON 30.09.2011)

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Service Provider of Electrical Services, Engineering Project Services, Power Transmission Services, Construction Services, Power Supply Services.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Central Bank of India, 803, Annasalai, Chennai – 600002, Tamil Nadu, India

Facilities :

	As On 31.03.2011 Rs. Millions	As On 31.03.2010 Rs. Millions
Secured Loans (abstract)
Rupee term loans Secured		15.517
Working capital loans secured (abstract))	404.002	130.008
Total	404.002	145.525
Un Secured loans	0.000
Rupee term loans unsecured (abstract)	0.000	60.000
Total		60.000

Banking Relations :	--
Auditors :
Name :	Sudarshan and Ranganathan Chartered Accountant
Address :	24/51, Rukmini Road, Kalahetra Colony, Besant Nagar, Chennai, India
Pan Number:	AAAFS2009R

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
49500000	Equity Share	Rs.10/- each	Rs.495.000 Millions
14,50,000	Preference Share	Rs.100/-each	Rs.145.000 Millions
50518871	Total		Rs.640.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4,90,68,871	Equity Share	Rs.10/- each	Rs.490.689 Millions
13,84,699	Preference Share	Rs.100/-each	Rs.138.470 Millions
50453570	Total		Rs.629.159 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		629.159	422.859	343.470
2] Share Application Money		0.000	200.000	0.000
3] Reserves & Surplus		206.300	0.000	0.000
4] (Accumulated Losses)		(33.063)	(73.064)	(80.028)
NETWORTH		802.396	549.795	263.442
LOAN FUNDS
1] Secured Loans		404.002	145.526	125.935
2] Unsecured Loans		0.000	60.000	114.753
TOTAL BORROWING		404.002	205.526	240.688
DEFERRED TAX LIABILITIES		4.504	7.697	0.454
TOTAL		1210.902	763.018	504.584
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		65.433	78.110	104.261
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.000	1.500	1.263
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	495.578	337.490	267.080
	Sundry Debtors	1619.237	1282.778	233.136
	Cash & Bank Balances	220.376	50.063	74.799
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	144.668	128.423	87.193
Total Current Assets		2479.859	1798.754	662.208
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	780.881	584.415	144.735
	Other Current Liabilities	478.716	497.875	108.890
	Provisions	75.793	33.312	9.973
Total Current Liabilities		1335.390	1115.602	263.608
Net Current Assets		1144.469	683.152	398.600
MISCELLANEOUS EXPENSES		0.000	0.256	0.460
TOTAL		1210.902	763.018	504.584

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	4365.828	1782.828	743.552
		Other Income	7.886	6.776	13.800
		TOTAL (A)	4373.714	1789.604	757.352
Less	EXPENSES
		Contract cost	4127.311	1559.060
		Employee related expense	54.159	46.863
		Administrative Selling Expense	53.228	90.109
		Prior Period items before tax	0.000	(0.686)
		TOTAL (B)	4234.698	1695.346	726.081
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		139.016	94.258	31.271
Less	FINANCIAL EXPENSES (D)		43.784	46.090	19.846
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		95.232	48.168	11.425
Less/ Add	DEPRECIATION/ AMORTISATION (F)		27.859	26.460	3.580
	PROFIT BEFORE TAX (E-F) (G)		67.373	21.708	7.845
Less	TAX (H)		27.372	14.744	2.264
	PROFIT AFTER TAX (G-H) (I)		40.001	6.964	5.581
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(73.064)	(80.028)	(85.609)
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	0.000
		Dividend	0.000	0.000	0.000
		Tax on Dividend	0.000	0.000	0.000
	BALANCE CARRIED TO THE B/S		(33.063)	(73.064)	(80.028)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	Nil	51.478	Nil
	IMPORTS		Nil	45.854	Nil
	Earnings Per Share (Rs.)		1.75	0.24	0.27

KEY RATIOS

PARTICULARS		31.03.2011	31.3.2010	31.3.2009
PAT / Total Income	(%)	0.91	0.39	0.74
Net Profit Margin (PBT/Sales)	(%)	1.54	1.22	1.06
Return on Total Assets (PBT/Total Assets}	(%)	2.65	1.16	1.02
Return on Investment (ROI) (PBT/Networth)		0.08	0.04	0.03
Debt Equity Ratio (Total Liability/Networth)		1.66	2.03	1.00
Current Ratio (Current Asset/Current Liability)		1.86	1.61	2.51

LOCAL AGENCY FURTHER INFORMATION

Performance and Business Out look

The company’s performance is best since its inception with 144 % increase in turnover and PAT multiplied by more than 6 times. With the infrastructure space growing robustly, the expected to achieve in time to come and hence business outlook is very much positive

Bankers Charges Report as per Registry

Corporate identity number of the company	U28920TN1999PLC043385
Name of the company	BEST AND CROMPTON ENGINEERING PROJECTS LIMITED
Address of the registered office or of the principal place of business in India of the company	No. 57 Sterling Road, Nungambakkam, Chennai – 600034, Tamil Nadu
This form is for	Creation of charge
Type of charge	· Book Debts · Movable property · Others
Particular of charge holder	Central Bank of India, 803, Annasalai, Chennai – 600002, Tamil Nadu, India agmchen0878@centralbank.co.in
Nature of instrument creating charge	As per joint deed of hypothecation and working capital consortium agreement dated 12^th October 2011
Date of instrument Creating the charge	12.10.2011
Amount secured by the charge	Rs.3000.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Central Bank of India – base rate i.e 6% Andhra Bank- Base Rate i.e 6% Corporation Bank – Base Rate 5.10% or ROI charged by lead or other member Banks whichever is higer Terms of Repayment Central Bank of India – CCL- payable on demand. To be reviewed every year. LOC – Commitments under LC should be meet on due dates. BG- BG up to 3 years Andhra Bank- CC- 1Year, Loc – 180 Days Corporation Bank – CC- running account payable on demand subject to Annual renewal. LOC- DP/DA (if DA, usarance inland – 90 days import – 180 days). BG – 1 Year. Margin Central Bank of India – Cash Credit – Stock – 25%, 90 days – 25%, 90 days-180 Days-35%. LC (usurance 180 days) - 10% Bank Guarantee – 10% Andhra Bank – Cash Credit – Stock – 25%, 90 days-180 Days-35% LC (usurance 180 days) - 10% Bank Guarantee – 10% Corporation Bank- Cash Credit – Stock – 25%, 90 days-180 Days-35% LC (usurance 180 days) - 10% Bank Guarantee – 10% Extent and Operation of the charge Parpasu first charge on the whole of the Current Assets of the Borrower company namely, stock of raw materials, stocks in Process, Semi – Finished and Finished Goods, Stores and spares not relating to Plant and Machinery ( Consumable Stores and spares), Bill Receivable and stock Debts and all other movables, both present and future Others
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Paripassu first charge on the whole of the Current Assets of the Borrower company namely, stocks of raw materials, stocks in Process, Semi – Finished and Finished Goods. Stores and Spares not relating to Plant Machinery ( Consumable Stores and Spares) Bill Receivable and Book Debts and all other movables, both present and future

Contingent Liability

Particulars	As On 31.03.2011 Rs. Millions	As On 31.03.2010 Rs. Millions
Bank Guarantees & letter of Credits issued by Banks	804.733	629.633
Sales Tax under dispute	804.773	35.423
Service Tax dispute	Nil	Nil
Preference Shares Dividend and Tax thereon not provided	154.446	140.600

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. 51.45
UK Pound	1	Rs. 81.09
Euro	1	Rs. 67.39

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		33

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.