MIRA INFORM REPORT

Report Date :

05.04.2012

IDENTIFICATION DETAILS

Name :	DE CORE NANOSEMICONDUCTORS LIMITED
Registered Office :	Plot Nos. 13,33,34,35, GIDC Electronic Park, Special Economic Zone, Kolavada Road, Sector-25, Gandhinagar – 382028, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.02.2009
Com. Reg. No.:	04-056235
Capital Investment / Paid-up Capital :	Rs.0.625 Million
CIN No.: [Company Identification No.]	U31902GJ2009PLC056235
TAN No.: [Tax Deduction & Collection Account No.]	AHMD05633F
PAN No.: [Permanent Account No.]	AADCD1320N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Light Emitting Diode (Led) Lamps For Indoor Lighting, Street Lighting, External Lighting, Rural Lighting
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 910000
Status :	Yet to commence business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Though the company was incorporated in the year 2009, the company is yet to commence its business activity. Payments are unknown. The company can be considered for business dealings with some cautions.

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 :	Plot Nos. 13,33,34,35, GIDC Electronic Park, Special Economic Zone, Kolavada Road, Sector-25, Gandhinagar – 382028, Gujarat
Tel. No.:	91-79-30515555
Fax No.:	91-79-30525111
E-Mail :	ng@dstlworld.com
Website :	www.dstlworld.com

DIRECTORS

As on 28.09.2011

Name :	Mr. Deepak Loomba
Designation :	Managing director
Address :	F-305, Rashmi Apartments, Harshi Vihar, Pitampura, New Delhi – 110034, India
Date of Birth/Age :	07.03.1971
Date of Appointment :	27.02.2009
DIN No.:	01776388

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51909DL2002PTC118131	PLASMA DE CORE PRIVATE LIMITED	Director	20-12-02	20-12-02	Active	NO
2	U31506UP2001PLC043372	DE CORE SCIENCE AND TECHNOLOGIES LIMITED	Managing director	30-12-09	12-09-05	Active	NO
3	U31902GJ2009PLC056235	DE CORE NANOSEMICONDUCTORS LIMITED	Managing director	11-05-10	27-02-09	Active	NO
4	U72300DL2009PTC188794	DE CORE TRANS TECHNOLOGIES PRIVATE LIMITED	Director	24-03-09	24-03-09	Active	NO
5	U72900DL2009PLC196844	MAJESTIC IT SERVICES LIMITED	Director	12-12-09	12-12-09	Active	NO

Name :	Mr. Harsh Inder Loomba
Designation :	Director
Address :	F-305, Rashmi Apartments, Harshi Vihar, Pitampura, New Delhi – 110034, India
Date of Birth/Age :	10.08.1969
Date of Appointment :	27.02.2009
DIN No.:	02116231

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	U51909DL2002PTC118131	PLASMA DE CORE PRIVATE LIMITED	Nominee director	05-01-03	20-12-02	-	Active	NO
2	U31506UP2001PLC043372	DE CORE SCIENCE AND TECHNOLOGIES LIMITED	Director	01-07-09	01-05-08	-	Active	NO
3	U31902GJ2009PLC056235	DE CORE NANOSEMICONDUCTORS LIMITED	Director	27-02-09	27-02-09	-	Active	NO

Name :	Mr. Manuji Zarabi
Designation :	Director
Address :	C-28, Pamposh Enclave, Greater Kailash – I, New Delhi – 110048, India
Date of Birth/Age :	24.08.1947
Date of Appointment :	25.11.2009
DIN No.:	00648928

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	L29269TZ1973PLC000680	LAKSHMI AUTOMATIC LOOM WORKS LIMITED	Nominee director	12-10-05	12-10-05	30-04-09	Active	NO
2	U32100AP1967GOI001149	ELECTRONICS CORPORATION OF INDIA LIMITED	Director	19-10-06	19-10-06	19-10-09	Active	NO
3	U74899DL1974GOI007325	CENTRAL ELECTRONICS LIMITED	Director	08-03-07	08-03-07	07-03-10	Active	NO
4	U72100UP2007PTC033102	MASAMB ELECTRONICS SYSTEMS PRIVATE LIMITED	Director	13-09-07	13-09-07	-	Active	NO
5	U31506UP2001PLC043372	DE CORE SCIENCE AND TECHNOLOGIES LIMITED	Director	01-07-09	13-01-09	-	Active	NO
6	U31902GJ2009PLC056235	DE CORE NANOSEMICONDUCTORS LIMITED	Director	21-08-10	25-11-09	-	Active	NO

Name :	Mr. Vinod Kumar Kala
Designation :	Nominee director
Address :	2-C, 141, Ridgewood Estate, DLF-IV, Gurgaon – 122002, Haryana, India
Date of Birth/Age :	13.08.1962
Date of Appointment :	30.03.2010
DIN No.:	00650333

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	U73100HR1999PTC037386	EMERGENT VENTURES INDIA PRIVATE LIMITED	Managing director	01-04-08	15-02-00	-	Active	NO
2	L92199DL2000PLC104779	KAMA HOLDINGS LIMITED	Director	18-03-02	18-03-02	31-07-08	Active	NO
3	U65993DL1984PLC196826	SRF POLYMERS INVESTMENTS LIMITED	Director	25-08-04	25-08-04	05-05-09	Amalgamated	NO
4	U40105WB2005PLC104912	PRITHVI ENERGY LIMITED	Director	24-10-05	24-10-05	07-05-07	Active	NO
5	U40103DL2007PTC167767	KALPAN HYDRO COMPANY (INDIA) PRIVATE LIMITED	Director	05-09-07	05-09-07	18-05-08	Active	NO
6	U40105DL2008PTC176100	ANAHITA CLEAN TECHNOLOGIES PRIVATE LIMITED	Director	31-03-08	31-03-08	-	Active	NO
7	U74120HR2008PTC037774	WINDFORCE MANAGEMENT SERVICES PRIVATE LIMITED	Nominee director	29-04-08	31-03-08	-	Active	NO
8	U45400DL2008PLC213287	GREEN INFRA LIMITED	Nominee director	29-05-08	29-05-08	13-04-09	Active	NO
9	U01403HR2009PTC038772	MAGADH BIOFUELS PLANTATIONS PRIVATE LIMITED	Director	05-02-09	05-02-09	30-05-11	Active	NO
10	U72300DL2009PTC188794	DE CORE TRANS TECHNOLOGIES PRIVATE LIMITED	Director	24-03-09	24-03-09	-	Active	NO
11	U40105HR2009PTC039027	HIGHWIND ENERGY PRIVATE LIMITED	Director	29-04-09	29-04-09	-	Active	NO
12	U40200HR2009PTC039222	GREEN INDUS BIO ENERGY PRIVATE LIMITED	Director	22-06-09	22-06-09	30-05-11	Active	NO
13	U93000DL2009NPL192945	KALPAN FOUNDATION	Director	07-08-09	07-08-09	15-12-11	Active	NO
14	U31902GJ2009PLC056235	DE CORE NANOSEMICONDUCTORS LIMITED	Nominee director	30-03-10	30-03-10	-	Active	NO
15	U31506UP2001PLC043372	DE CORE SCIENCE AND TECHNOLOGIES LIMITED	Nominee director	30-03-10	30-03-10	-	Active	NO
16	U37100HR2010PTC040378	SUNBORNE ENERGY GUJARAT SOLAR THERMAL PRIVATE LIMITED	Nominee director	12-04-10	12-04-10	25-05-10	Active	NO
17	U40104HR2010PTC040444	VSS CLEAN TECHNOLOGIES PRIVATE LIMITED	Director	22-04-10	22-04-10	-	Active	NO
18	U93000HR2011NPL044376	ENVIRONMENTAL RESOURCES FOUNDATION	Additional director	07-12-11	07-12-11	-	Active	NO

Name :	Ms. Poonam Garg
Designation :	Nominee director
Address :	A-802, The New Cosmopolitan Apartments, Plot No.33, Sector-10
Date of Birth/Age :	01.02.1968
Date of Appointment :	30.03.2010
DIN No.:	00049894

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	L74899HR1991PLC032873	NARAINGARH SUGAR MILLS LIMITED	Director	14-11-06	14-11-06	23-04-07	Active	NO
2	U85110AS1985PLC002447	G N R C LIMITED	Nominee director	14-11-06	14-11-06	22-12-08	Active	NO
3	U74999DL2000PLC106206	SATYAM CINEPLEXES LIMITED	Nominee director	14-09-09	05-02-09	17-06-11	Active	NO
4	U29130TN1959PLC003951	GUINDY MACHINE TOOLS LIMITED	Nominee director	28-08-09	28-08-09	27-04-10	Active	NO
5	U31902GJ2009PLC056235	DE CORE NANOSEMICONDUCTORS LIMITED	Nominee director	30-03-10	30-03-10	-	Active	NO
6	U31200AP1995PLC019206	TITAN ENERGY SYSTEMS LIMITED	Nominee director	19-10-10	19-10-10	-	Active	NO
7	U31506UP2001PLC043372	DE CORE SCIENCE AND TECHNOLOGIES LIMITED	Nominee director	30-09-11	24-03-11	-	Active	NO
8	U36104CT1988PLC004711	MINWOOL ROCK FIBERS LIMITED	Nominee director	23-07-11	23-07-11	-	Active	NO
9	U28910PB1990PTC010265	AMBER ENTERPRISES INDIA PRIVATE LIMITED	Nominee director	30-09-11	10-09-11	-	Active	NO
10	L29120MP1995PLC009327	SHAKTI PUMPS (INDIA) LIMITED	Nominee director	18-01-12	18-01-12	-	Active	NO

Name :	Mr. Pinaki Bhattacharyya
Designation :	Director
Address :	407, Nilgiri Apartments, Alkananda, New Delhi – 110019, India
Date of Birth/Age :	17.11.1974
Date of Appointment :	24.03.2011
DIN No.:	03134436

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	U45203DL2008PLC213296	GREEN INFRA WIND ASSETS LIMITED	Director	22-09-10	21-06-10	-	Active	NO
2	U40107DL2010PLC202168	GREEN INFRA SOLAR FARMS LIMITED	Director	14-09-11	21-06-10	-	Active	NO
3	U40107DL2010PLC202170	GREEN INFRA SOLAR ENERGY LIMITED	Director	14-09-11	21-06-10	-	Active	NO
4	U40109DL2010PLC211808	GREEN INFRA HYDRO POWER LIMITED	Director	14-09-11	28-12-10	-	Active	NO
5	U40101DL2010PLC211849	GREEN INFRA GAS ENERGY LIMITED	Director	14-09-11	28-12-10	-	Active	NO
6	U74120HR2008PTC037774	WINDFORCE MANAGEMENT SERVICES PRIVATE LIMITED	Nominee director	31-01-11	31-01-11	01-09-11	Active	NO
7	U40300DL2011PLC214668	GREEN INFRA WIND LIMITED	Director	23-02-11	23-02-11	-	Active	NO
8	U31506UP2001PLC043372	DE CORE SCIENCE AND TECHNOLOGIES LIMITED	Director	30-09-11	24-03-11	-	Active	NO
9	U31902GJ2009PLC056235	DE CORE NANOSEMICONDUCTORS LIMITED.	Director	28-09-11	24-03-11	-	Active	NO
10	U72300DL2009PTC188794	DE CORE TRANS TECHNOLOGIES PRIVATE LIMITED	Nominee director	30-09-11	24-03-11	-	Active	NO
11	U40101HP2007PTC030815	GREEN MOUNTAIN HYDRO POWER PRIVATE LIMITED	Nominee director	01-09-11	01-04-11	-	Active	NO
12	U40101HP2007PTC030816	GREEN KURPAN POWER PRIVATE LIMITED	Nominee director	01-09-11	01-04-11	-	Active	NO
13	U40101HP2007PTC030814	HURLA VALLEY POWER PRIVATE LIMITED	Nominee director	01-09-11	01-04-11	-	Active	NO
14	U40300DL2011PLC221876	GREEN INFRA WIND GENERATION LIMITED	Director	04-07-11	04-07-11	-	Active	NO
15	U40108DL2011PLC221875	GREEN INFRA WIND ENERGY PROJECT LIMITED	Director	04-07-11	04-07-11	-	Active	NO
16	U40108DL2011PLC221871	GREEN INFRA BIO ENERGY ASSETS LIMITED	Director	04-07-11	04-07-11	-	Active	NO
17	U40101HP2011PLC031699	GREEN INFRA HYDRO ENERGY PROJECTS LIMITED	Director	04-07-11	04-07-11	-	Active	NO
18	U40108DL2011PLC221863	GREEN INFRA BIO ENERGY POWER PROJECTS LIMITED	Director	04-07-11	04-07-11	-	Active	NO
19	U40108DL2011PLC221862	GREEN INFRA WIND POWER PROJECTS LIMITED	Director	04-07-11	04-07-11	-	Active	NO
20	U40106DL2011PLC222911	GREEN INFRA BIO ENERGY GENERATION LIMITED	Director	28-07-11	28-07-11	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2011

Names of Shareholders	No. of Shares
	Preference Shares	Equity Shares
De Core Science and Technologies Limited, India	24400	49994
Deepak Loomba	-	1
Harsh Inder Loomba	-	1
Virender Mohan Dhingra	-	1
M. J. Zarabi	-	1
Barinder Singh Sethi	-	1
Manju Agarwal	-	1
Total	24400	50000

As on 28.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Light Emitting Diode (Led) Lamps For Indoor Lighting, Street Lighting, External Lighting, Rural Lighting

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Mumbai - 400005, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loan from Exim Bank	82.518	0.000
Total	82.518	0.000

Banking Relations :	--
Auditors :
Name :	KSA and Company Chartered Accountants
Address :	B-502, Suncity Heights, Sector-54, Gurgaon – 122002, Haryana, India
PAN.:	ABCFS5635C
Subsidiary :	· LLC De Core Nanosemiconductor
Holding Company:	· De Core Science and Technologies Limited, India · CIN No.: U31506UP2001PLC043372

CAPITAL STRUCTURE

After 28.09.2011

Authorised Capital : Rs.1.000 Million

Issued, Subscribed & Paid-up Capital : Rs.0.750 Million

As on 28.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million
50000	Preference Shares	Rs.10/- each	Rs.0.500 Million
	Total		Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million
24400	Preference Shares	Rs.10/- each	Rs.0.244
	Total		Rs.0.744 Million

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million
50000	Preference Shares	Rs.10/- each	Rs.0.500 Million
	Total		Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million
12500	Preference Shares	Rs.10/- each	Rs.0.125 Million
	Total		Rs.0.625 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.625	0.625
2] Share Application Money		102.000	0.000
3] Reserves & Surplus		125.907	125.228
4] (Accumulated Losses)		0.000	0.000
NETWORTH		228.532	125.853
LOAN FUNDS
1] Secured Loans		82.518	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		82.518	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		311.050	125.853
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		47.209	35.277
Capital work-in-progress		34.699	0.054
INVESTMENT		1.517	50.409
DEFERREX TAX ASSETS		0.001	0.005
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	8.248	16.389
	Other Current Assets	0.000	0.000
	Loans & Advances	170.019	0.415
Total Current Assets		178.267	16.804
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.395	0.000
	Other Current Liabilities	1.866	0.522
	Provisions	0.156	0.064
Total Current Liabilities		3.417	0.586
Net Current Assets		174.850	16.218
MISCELLANEOUS EXPENSES		52.774	23.890
TOTAL		311.050	125.853

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	0.000	0.000
		Other Income	1.112	0.481
		TOTAL (A)	1.112	0.481
Less	EXPENSES
		Preliminary Expenses	0.000	0.063
		TOTAL (B)	0.000	0.063
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.112	0.418
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.274	0.007
	PROFIT BEFORE TAX (E-F) (G)		0.838	0.411
Less	TAX (I)		0.159	0.058
	PROFIT AFTER TAX (G-I) (J)		0.679	0.353
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.353	0.000
	BALANCE CARRIED TO THE B/S		1.032	0.353
	Earnings Per Share (Rs.)		13.58	7.06

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	61.06	73.39
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.37	0.79
Return on Investment (ROI) (PBT/Networth)		0.00	0.00
Debt Equity Ratio (Total Liability/Networth)		0.38	0.00
Current Ratio (Current Asset/Current Liability)		52.17	28.68

LOCAL AGENCY FURTHER INFORMATION

Financial Results:

During the financial year, the Company has classified the entire expenditure into project and preoperative expenses.

Business Scenario:

The Company is in the process of negotiations of various long term supply contracts with major corporate clients.

The Company is expecting to commence the trial runs by the start of Nov. 2011 at its facility at GIDC Electronic Park, SEZ, Gandhinagar (Gujarat). The facility is at an advanced stage of getting ready for commencement of commercial production.

Form 8:

Corporate identity number of the company	U31902GJ2009PLC056235
Name of the company	DE CORE NANOSEMICONDUCTORS LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot Nos. 13,33,34,35, GIDC Electronic Park, Special Economic Zone, Kolavada Road, Sector-25, Gandhinagar – 382028, Gujarat, India E-mail : ng@dstlworld.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10263239
Type of charge	Immovable property
Particular of charge holder	IDBI Bank Limited, IDBI Complex, Near Lal Bunglow, Off C. G. Road, Ahmedabad – 380006, Gujarat, India E-mail : dharmesh.rathod@idbi.co.in
Nature of instrument creating charge	They refer to the Memorandum of Entry executed by the Company with EXIM Bank of India whereby the Company consented to EXIM Bank of India, acting as agent on behalf of IDBI Bank Limited, Ahmedabad, to hold and retain the Title Deeds to the immovable properties.
Date of instrument Creating the charge	02.09.2011
Amount secured by the charge	Rs.39.901 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Bank Base Rate (BBR) plus 5.00% per annum (presently BBR is 10.75%) i.e. 15.75% payable at monthly rest. Rate of Interest is subject to change from time to time as per Bank's/ RBI policy. Terms of Repayment Sixteen equal quarterly installments commencing after one year from the date of 01.10.2012 Margin As per terms of sanction. Extent and Operation of the charge First charge on all that piece of land known as Plot Nos. 13,33,34,35 in the Gandhinagar Electronic SEZ, within the village limits of Gandhinagar Taluka, Gandhinagar District, Gandhinagar Others pari-passu with the mortgages/ charges created/ to be created in favour of EXIM Bank of India for its Term Loan of Rs.350.000 Millions.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First charge on all that piece of land known as Plot Nos. 33,34,35 in the Gandhinagar Electronic SEZ, within the village limits of Gandhinagar Taluka, Gandhinagar District, Gandhinagar First charge on Plot No.13,along with factory shed thereon, situated in the Gandhinagar Electronic SEZ,Sector-25,within the village limits of Gandhinagar Taluka, Gandhinagar District, Gandhinagar
Date of instrument modifying the charge	24.08.2011
Particulars of the present modification	The charges detailed under Article II-Security in the Loan Agreement and more particularly described under the First and Second Schedule to Memorandum of Entry executed by the Company on the 2nd day of September 2011, with Exim Bank of India, acting as agent on behalf of IDBI Bank Limited, Ahmedabad, shall rank pari-passu with the mortgages/ charges created/ to be created in favour of EXIM Bank of India for its Term Loan of Rs. 350.000 Millions

Fixed Assets:

· Land

· Plant and machinery

· Air Conditioner

· Air Cooler

· Cycle

· Geaser

· Microwave

· Polycom Sound Station

· Telephone

· Electronics

· Computer

· Vehicles

· Motor bikes

· Furniture and Fixtures

Press Release:

De Core Nanosemiconductor lines up Gujarat chip fab

Mar 24, 2010

De Core Nanosemiconductor, led by Punjab-based technopreneur Deepak Loomba, is setting up what it claims will be the country’s first semiconductor chips plant, at Gandhinagar in Gujarat.

The facility will initially manufacture semiconductor chips for light emitting diode (LED) lamps.

The company has a plant for LED lamps coming up in Noida.

“The LED lamps plant in Noida is expected to commence in two months. For these LED lamps, we need chips, which we decided to produce in India. Making chips in India will bring down the cost of LED lamps,” Loomba, the company’s MD and CEO, said after laying the foundation stone of the Gandhinagar plant on Wednesday.

“We are setting up this plant in GIDC Electronic SEZ. We set up the plant on four acres of land and are interested in buying two acres adjacent to it,” he said.

The company intends to invest Rs.11000.000 Millions in the next five years for manufacturing LED lamps, including Rs.9000.000 Millions on the Gandhinagar plant and Rs.2000.000 Millions at Noida.

It has sufficient funds at its disposal, said Loomba. “Through venture capital and debt from banks, we have enough funds to invest in setting up plants.

IFCI, IDFC, EVI and a few more venture capital companies have invested in De Core Nanosemiconductors. Apart from that, we have taken debt from IDBI Bank and Exim Bank. After a couple of years, we may enter capital market through a public issue.”

“We will have a capacity of producing 400 million chips annually at Gandhinagar and we will be producing 70 lakh LED lamps annually at Noida. But in future, we are very much interested in making chips for high power electronics,” said Loomba.

The company will also make chips for cellular telephones and blue ray components. “We want to make chips for those fifth generation mobile phones in future. These phones will have the capacity to transfer or download data at speeds of more than 40 Mbps. Apart from that, we will also make components for blue ray disc,” he said.

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 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.51.05
UK Pound	1	Rs.81.09
Euro	1	Rs.67.39

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	2
--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		27

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.