1. Summary Information

		Country	India
Company Name	mpp technologies private limited	Principal Name 1	Mr. Mohandas Dejoo Shetty
Status	Satisfactory	Principal Name 2	Mr. Malleshaiah Devarajaiah
		Registration #	08-022626
Street Address	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka
Established Date	08.08.1997	SIC Code	--
Telephone#	91-80-41171187 / 41177523	Business Style 1	Manufacturer
Fax #	91-80-28362704	Business Style 2	Importer
Homepage	http://www.mpptechnologies.com	Product Name 1	Transfer Tank
# of employees	Not Available	Product Name 2	Panel Doors
Paid up capital	Rs. 48,883,200 /-	Product Name 3	--
Shareholders	Directors or relatives of Directors 98.43% Other Fifty Shareholder – 1.57 %	Banking	State Bank of India
Public Limited Corp.	No	Business Period	15 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (46)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	280,290,000	Current Liabilities	92,899,000
Inventories	99,680,00	Long-term Liabilities	235,062,000
Fixed Assets	168,026,000	Other Liabilities	44,012,000
Deferred Assets	--	Total Liabilities	371,973,000
Invest& other Assets	581,000	Retained Earnings	127,721,000
		Net Worth	176,604,000
Total Assets	548,577,000	Total Liab. & Equity	548,577,000
Total Assets (Previous Year)	495,279,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	824,436000	Net Profit	36,231,000
Sales(Previous yr)	721,425,000	Net Profit(Prev.yr)	28,163,000

MIRA INFORM REPORT

Report Date :

27.04.2012

IDENTIFICATION DETAILS

Name :	mpp technologies private limited
Registered Office :	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	08.08.1997
Com. Reg. No.:	08-022626
Capital Investment / Paid-up Capital :	Rs. 48.883 Millions
CIN No.: [Company Identification No.]	U31909KA1997PTC022626
TAN No.: [Tax Deduction & Collection Account No.]	BLRM01402C
PAN No.: [Permanent Account No.]	AABCM8851H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Importer and Exporter of all types of Heat Exchangers, Transformers, Radiators and Other Heat Exchangers Systems.
No. of Employees :	200 (Approximately)

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 700000
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 for business dealings at usual trade terms and condition.

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 :	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka, India
Tel. No.:	91-80-41171187 / 41177523 / 28361567
Mobile No.:	91-9886234972 (Hariprasad Rai A)
Fax No.:	91-80-28362704
E-Mail :	info@mpptechnolgies.com rai@mpptechnolgies.com mpp00ttp@vsnl.net info@ttpraditors.com mvprasanna@ttpradiators.com devaraj@mpptechnolgies.com
Website :	http://www.mpptechnologies.com
Corporate Office :	A 153 and 154, III Cross, 1^st Stage, Peenya Industrial Estate, Bangalore - 560 058, Karnataka, India
Factory :	B-233, 2^nd Stage, Peenya Industrial Estate, Bangalore - 560 058, Karnataka, India

DIRECTORS

As on 30.09.2010

Name :	Mr. Mohandas Dejoo Shetty
Designation :	Managing Director
Address :	No. 41, Kuteera, 80 Feet Road, New Thippasandra Post, Bangalore – 560 075, Karnataka, India
Date of Birth/Age :	24.11.1943
Qualification :	BE (Mech), MS (USA)
Experience :	27 Years
Date of Appointment :	08.08.1997
DIN No.:	00924611

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	U31909KA1982PTC004963	TTP Technologies Private Limited	Managing director	22/09/1982	22/09/1982	-	Active	YES
2	U31909KA1997PTC022626	MPP Technologies Private Limited	Managing director	08/08/1997	08/08/1997	-	Active	YES

Name :	Mr. Malleshaiah Devarajaiah
Designation :	Director
Address :	No. 228, 15^th Cross, 2^nd Stage, 2^nd Phase, Mahalakshmi Layout, Bangalore – 560 086, Karnataka, India
Date of Birth/Age :	24.05.1955
Date of Appointment :	08.08.1997
DIN No.:	00628413

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	U31909KA1997PTC022626	MPP Technologies Private Limited	Director	31/03/1998	31/03/1998	-	Active	YES
2	U31909KA1982PTC004963	TTP Technologies Private Limited	Director	31/03/1998	31/03/1998	-	Active	YES
3	U31909KA1986PTC007664	Paragon Metalex Private Limited	Director	31/03/1998	31/03/1998	-	Active	YES

Name :	Mr. Hannah Mohandas Shetty
Designation :	Director
Address :	No. 41, Kuteera 80, Feet Road, New Thippasandra Post, Bangalore – 560 075, Karnataka, India
Date of Birth/Age :	18.12.1948
Date of Appointment :	08.08.1997
DIN No.:	00628512

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	U31909KA1982PTC004963	TTP Technologies Private Limited	Director	22/09/1982	22/09/1982	-	Active	YES
2	U31909KA1986PTC007664	Paragon Metalex Private Limited	Managing director	20/06/1986	20/06/1986	-	Active	YES
3	U24222KA1996PTC020822	Protective Coatings Private Limited	Managing director	16/07/1996	16/07/1996	-	Active	NO
4	U31909KA1997PTC022626	MPP Technologies Private Limited	Director	08/08/1997	08/08/1997	-	Active	YES

Name :	Mrs. Susheela Bujanga Hegde
Designation :	Director
Address :	# 14, Church Street, Shanthi Nagar, Bangalore – 560 026, Karnataka, India
Date of Birth/Age :	29.03.1923
Date of Appointment :	08.08.1997
DIN No.:	00628587

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	U31909KA1986PTC007664	Paragon Metalex Private Limited	Director	20/06/1986	20/06/1986	-	Active	YES
2	U31909KA1997PTC022626	MPP Technologies Private Limited	Director	08/08/1997	08/08/1997	-	Active	YES

Name :	Mr. AP Krishna Kumar Krishna
Designation :	Director
Address :	# 20, Skanda, 1^st Main Road, Baiaji Layout, Vidyaranyapura, Bengaluru – 560 097, Karnataka, India
Date of Birth/Age :	21.09.1959
Date of Appointment :	09.02.2007
DIN No.:	01979117

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Mohandas Dejoo Shetty	261760
Hannah Mohandas Shetty	160000
Renee Mohandas Shetty	3500
Ashok Dejoo Shetty	500
Malleshaiah Devarajaiah	500
Harishchandra Dejoo Shetty	50
Shivarudraiah	50
Saraswathi A Shetty	50
Pushpalatha H Shetty	50
Sameer Shetty	54882
Devi Shanthala Br.	50
Sathyendra Sujatha	50
Sathyendra	50
Rajendra	50
Saraswathi Rajendra	50
AP Kriahna Kumar	50
NN Shyamala	50
Thamme Gowda	50
Shashikala Shivarudraiah	50
Harish C Panth	6540
TTP Technologies Private Limited, India	500
Total	488832

AS ON 30.09.2010

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	98.43
Other top fifty shareholders	1.57
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Importer and Exporter of all types of Heat Exchangers, Transformers, Radiators and Other Heat Exchangers Systems.

PRODUCTION STATUS (As on: 31.03.2010)

Particulars	Unit	Actual Production (Including Labour Charges)
Control Panel Components	Nos. and Kgs	885529.290
Stator Stacks and Pole Bricks, DBR Assembly	Nos.	7377
Transformer Tank and FWT (Local)	Nos. and Kgs	2147287.440
Transformer Tank and FWT (Export)	Nos. and Kgs	124367.660
Door and Door Frames	Nos.	40060
Scrap	Kgs	762702.000

GENERAL INFORMATION

No. of Employees :	200 (Approximately)
Bankers :	· State Bank of India, Peenya Industrial Estate Branch, B – 96, II Cross, Peenya Industrial Estate, Bangalore – 560058, Karnataka, India · State Bank of India, Specialised MID Corporate Branch, No. 97, Railway Parallel Road, Kumarapark West, Bangalore 560020, Karnataka, India

Facilities :

SECURED LOAN		Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
From State Bank of India
(A)Cash Credit (Including Bills Discounted) (secured by pledge / hypothecation of raw materials, semi finished goods and finished goods, bils, book debts and other receivables)		130.317	93.169
(B) Medium Term Loan (secured by equitable mortgage of land and building at Plot No. 81 Antharasanahalli, Tumkur and Land and Building at A – 153 and 154, I Stage, Peenya Industrial Estate, Bangalore 58 and Machinery Purchases therefrom)		69.954	77.809
From Others
Vehicles Loan (Secured by hypothecation of vehicles purchased )		0.502	0.143
Total		200.773	171.121
NOTE: In Addition to the above securities, additional securities have been taken as under: By State Bank of India · Personal Guarantee from two Directors · Equitable Mortgage of Land and Building at B 233, A 153 and 154 at II and I Stage, Peenya Industrial Estate, Bangalore. · Equitable Mortgage of KIADB Land and Building at Plot No. 81, Antharasana Halli, on National High Way No. 4, Tumkur. · Equitable Mortgage of KIADB Land and Building at Plot No. 81, Antharasana Halli, on National High Way No. 4, Tumkur. 2. The aggregate amount of secured Loans sanctioned (includind stand by Line of Credit)		292.600	152.500
UNSECURED LOAN	Rs. In Millions 31.03.2010		Rs. In Millions 31.03.2009
From Directors	10.289		4.813
From Crompton Greaves Limited	24.000		24.000
From Others	0.000		7.500
Total	34.289		36.313

Banking Relations :

--

Auditors :

Name :

K. G. Jayasimha

Chartered Accountant

Address :

766, Sri Nivasa 36^th Cross, 18^th Main, 4^th Block, Jayanagar, Bangalore – 560041, Karnataka, India

PAN.:

AAKPY2581P

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
488832	Equity Shares	Rs.100/- each	Rs. 48.883 Millions

NOTE:

1) Of the above :

1) 100,000 Equity Shares are allotted as fully paid – up pursuant to a contract without Payments being received in cash

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		48.883	48.883	18.767
2] Share Application Money		0.000	0.000	33.120
3] Reserves & Surplus		127.721	91.490	60.323
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		176.604	140.373	112.210
LOAN FUNDS
1] Secured Loans		200.773	171.121	181.436
2] Unsecured Loans		34.289	36.313	31.528
TOTAL BORROWING		235.062	207.434	212.964
DEFERRED TAX LIABILITIES		5.934	7.898	5.146
TOTAL		417.600	355.705	330.320
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		168.026	169.777	189.684
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.557	0.557	0.557
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	99.680	81.101	98.129
	Sundry Debtors	195.023	165.869	119.220
	Cash & Bank Balances	18.932	17.652	8.756
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	66.335	60.252	41.504
Total Current Assets		379.970	324.874	267.609
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	88.742	86.503	109.930
	Other Current Liabilities	4.157	15.695	1.158
	Provisions	38.078	37.376	16.549
Total Current Liabilities		130.977	139.574	127.637
Net Current Assets		248.993	185.300	139.972
MISCELLANEOUS EXPENSES		0.024	0.071	0.107
TOTAL		417.600	355.705	330.320

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2010	31.03.2009	31.03.2008
	SALES
			Income	824.436	721.425	582.000
			Other Income	8.010	9.671	5.000
			TOTAL (A)	832.446	731.096	587.000
Less	EXPENSES
		Materials		484.186	393.655
		Operative Expenses		161.563	151.116
		Directors Expenses and Allowances		8.154	7.143
		Administrative Expenses		8.862	5.784
		Selling and distribution Expenses		46.136	36.530	531.600 (Including Finance Expenses)
		Auditor’s Remuneration		0.084	0.079
		Small Balance Written /Off		0.001	0.041
		TOTAL (B)		708.986	594.347
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			123.460	136.749
Less	FINANCIAL EXPENSES (D)			37.970	49.265
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			85.490	87.484	55.400
Less/ Add	DEPRECIATION/ AMORTISATION (F)			30.299	35.743	14.300
	PROFIT BEFORE TAX (E-F) (G)			55.191	51.741	41.100
Less	TAX (H)			18.960	23.578	13.900
	PROFIT AFTER TAX (G-H) (I)			36.231	28.163	27.200
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	139.442	164.479	119.249
	TOTAL EARNINGS			139.442	164.479	119.249
	IMPORTS
			Raw Materials	34.752	5.002	3.460
			Spares and Machine	2.347	2.668	5.026
			Consumables	2.869	3.033	1.415
			Capital Goods	14.727	18.326	71.310
			Packing Material	0.000	0.000	0.152
	TOTAL IMPORTS			54.695	29.029	81.363
	Earnings Per Share (Rs.)			74.12	57.61	145.11

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	4.35	3.85	4.63
Net Profit Margin (PBT/Sales)	(%)	6.69	7.17	7.00
Return on Total Assets (PBT/Total Assets}	(%)	10.07	10.46	8.98
Return on Investment (ROI) (PBT/Networth)		0.31	0.37	0.37
Debt Equity Ratio (Total Liability/Networth)		2.07	2.47	3.04
Current Ratio (Current Asset/Current Liability)		2.90	2.33	2.10

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	-
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

FINANCIAL PERFORMANCE

Sales Turnover

During the year the company achieved Net Sales of Rs. 824.400 millions, registering a growth of 14.28% over the previous year.

The Company’s strategic initiatives aimed at a more balanced portfolio in terms of increased customer base and product lines are yielding good results. The growth as compared to the preceding year has been achieved despite stiff competition both in the domestic and export markets coupled with recessionary conditions which continued to prevail during the first half of the year. Having consolidated the market position in the existing product lines, the company's efforts in various directions, such as widening customer base, entering new markets and introducing new product range has contributed to the growth in sales revenue. The sales revenue has been steadily growing year over year with an average growth of 33.29% in the last 5 years.

CONTINGENT LIABILITIES

(Rs. In Millions)

Particular	31.03.2010
Bills Discounted and outstanding (PY Rs. 24.840 Millions )	15.838
Guarantees/Counter Guarantees given to the Bankers against Guarantees issued by them and LC issued (PY Rs. 6.541 Millions )	4.843
Letter of Credit opened for procurement of steel (PY Rs.11.000 Millions )	49.403

Bankers Charges Report as per Registry

Corporate identity number of the company	U31909KA1997PTC022626
Name of the company	mpp technologies private limited
Address of the registered office or of the principal place of business in India of the company	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka, India Email :mvprasanna@ttpradiators.com
This form is for	Modification of charge
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Others (stock Machineries etc.)
Particular of charge holder	State Bank of India, Specialised MID Corporate Branch, No. 97, Railway Parallel Road, Kumarapark West, Bangalore - 560020, Karnataka, India Email: jsurya@vsnl.com
Nature of instrument creating charge	Supplemental agreement of hypothecation of goods and assets for increase in the overall limit (C.2) Letter regarding the grant of individual limits within the overall limit (C.5) FORM B - 4 Nos (All the documents relate to the same modification)
Date of instrument Creating the charge	24.02.2012
Amount secured by the charge	Rs. 440.900 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest CC :Interest @ 4.00% above BR i.e.14.00%p.a. TL I, II, III and IV:Interest @ 5.25% above BR i.e.15.25%p.a. TL V:Interest @ 4.50% above BR i.e.14.50% P.a. SLC :Interest@ 5.00% above BR i.e.15.00%p.a. Terms of repayment CC : Repayable on Demand TL : As per original repayment schedule advised earlier. Margin · RM : 25% · SIP : 25% · FG : 25% · Receivables : 25% · LC and BG : 20% · One time BG : 20% Extent and operation of the charge Charge extends by way of first charge on all the assets throughout the period of sanctioned limits. Other · EM of House property situated at L-120, HAL III Stage, Bangalore belonging to Mrs. Hannah M Shetty · EM of House property situated at No. 41, 80 Feet Road, HAL 3rd Stage, Indiranagar, and Bangalore belonging to Mr. M.D. Shetty.
Short particulars of the property charged (Including location of the property)	Hypothecation of the whole of the present and future stocks of raw materials, stocks in process, finished goods, semi finished goods, book debts, outstanding monies, receivables, claims, bills plant and machineries and other current assets belonging to the company. Extension of EM on company immovable properties of factory land and building situated at Plot No. 81, Sy. No. 14, Antharasanahalli, I Phase, KIADB Industrial Area, Kasaba Hobli, Tumkur District EM on company immovable properties of lease hold rights of land and building situated at Plot No. 48 and 49, Antharasanahalli, II Phase, KIADB Industrial Area, Kasaba Hobli, Tumkur District EM on company immovable properties situated at Industrial Shed No. B-233, Peenya Industrial Estate, Bangalore land measuring 5630.28 Sft EM on company immovable properties of Industrial land and shed situated at No. A 153 and A 154, III Cross, 1st Stage, Peenya Industrial Estate, Bangalore land measuring 18657 Sft
Date of instrument modifying the charge	26/11/2011
Particulars of the present modification	Total limits enhanced to Rs.440.900 Millions. Extant of EM on company immovable property land and building situated at B-233, II Stage, Peenya Industrial Estate, Bangalore, Industrial Shed No. A-153 and A-154, 3rd Cross, 1st Stage, Peenya Industrial Estate, Bangalore, factory land and building situated at No. 81, KIADB Industrial Area, Antharasanahalli, Tumkur and Plot No. 48 and 49, KIADB Industrial Estate, Antharasanahalli, Tumkur. All other terms, conditions and existing securities to continue.

FIXED ASSETS

· Land and Building

· Furniture and Fixtures

· Plant and Machinery

· Tools and Equipments

· Office Equipments

· Computer and Peripherals

· Type Writer

· Vehicles

· Cycle

· Material Lift

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.52.57
UK Pound	1	Rs.85.02
Euro	1	Rs.69.56

INFORMATION DETAILS

Report Prepared by :

DPK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
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	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		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	-

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.