MIRA INFORM REPORT

Report Date :

08.08.2012

IDENTIFICATION DETAILS

Name :	GROWEL FEEDS PRIVATE LIMITED
Registered Office :	82, SBI Officers colony, Moosarambagh, Hyderabad-500036, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.01.2008
Com. Reg. No.:	01-057027
Capital Investment / Paid-up Capital :	Rs. 0.700 million
CIN No.: [Company Identification No.]	U01119AP2008PTC057027
TAN No.: [Tax Deduction & Collection Account No.]	HYDG08837D
PAN No.: [Permanent Account No.]	AADCG0564F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Fish Feeds.
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 400000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track records. 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, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	82, SBI Officers colony, Moosarambagh, Hyderabad-500036, Andhra Pradesh, India
Tel. No.:	91-8677-283761
Mobile No.:	Not Available
Fax No.:	91-8677-283717
E-Mail :	growelfeeds@gmail.com hyd2_gfpl@sancharnet.in
Website :	www.growelgroup.com
Factory :	Survey No. 57, Chevuru Village, Srinaripuram Pachayat, Mudinepalli Mandal, District Krishna – 521 325, Andhra Pradesh, India
Tel. No.:	91-8677 283761

DIRECTORS

As on 21.09.2011

Name :

Mr. Sriranga Chary Mudumbi

Designation :

Director

Address :

H.NO 16-11-405/82, SBI Officers Colony, Malakpet, Hyderabad-500036, Andhra Pradesh, India

Date of Birth/Age :

13.03.1935

Date of Appointment :

07.01.2008

DIN No.:

00863502

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24239AP1993PTC015700	GROWEL FORMULATIONS PRIVATE LIMITED	Managing director	11/10/1993	11/10/1993	-	Active	NO
2	U01119AP2005PTC047841	ARESEN BIO-TECH AND FARMS (INDIA) PRIVATE LIMITED	Director	20/10/2005	20/10/2005	21/07/2008	Active	YES
3	U01119AP2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	07/01/2008	07/01/2008	-	Active	NO
4	U05004AP2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO

Name :

Mr. Vedadri Narasimha Sesha Chary Madumbi

Designation :

Director

Address :

16-11-405/82, SBI Officers Colony, Moosarambagh, Hyderabad-500 036, Andhra Pradesh, India

Date of Birth/Age :

03.08.1959

Date of Appointment :

07.01.2008

DIN No.:

00863606

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24239AP1993PTC015700	GROWEL FORMULATIONS PRIVATE LIMITED	Whole-time director	28/12/2001	28/12/2001	-	Active	NO
2	U01119AP2005PTC047841	ARESEN BIO-TECH AND FARMS (INDIA) PRIVATE LIMITED	Director	20/10/2005	20/10/2005	21/07/2008	Active	YES
3	U01119AP2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	07/01/2008	07/01/2008	-	Active	NO
4	U05004AP2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
5	U01400AP2010PTC070276	GROWING VENTURES PRIVATE LIMITED	Director	02/09/2010	02/09/2010	-	Active	NO

Name :

Mr. Narendra Srinivasa Potluri

Designation :

Director

Address :

D. NO. 10/164-H14, Rajendra Nagar, Gudivada, Andhra Pradesh- 521301, India

Date of Birth/Age :

24.05.1969

Date of Appointment :

07.01.2008

DIN No.:

01948012

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U01119AP2005PTC047841	ARESEN BIO-TECH AND FARMS (INDIA) PRIVATE LIMITED	Director	20/10/2005	20/10/2005	-	Active	YES
2	U01119AP2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	07/01/2008	07/01/2008	-	Active	NO
3	U01119AP2008PTC059008	INDIAN NATURALS & GRANULES PRIVATE LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO
4	U05004AP2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
5	U01400AP2010PTC070276	GROWING VENTURES PRIVATE LIMITED	Director	02/09/2010	02/09/2010	-	Active	NO

Name :

Mr. Chintapalli Sudheer

Designation :

Director

Address :

10/154-D4-5A, Shantinagar, Gudivada, Krishna-521301, Andhra Pradesh, India

Date of Birth/Age :

08.08.1969

Date of Appointment :

20.03.2008

DIN No.:

01480150

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U70102AP2006PTC048811	SUBHALAKSHMI PROJECTS PRIVATE LIMITED	Director	18/01/2006	18/01/2006	-	Active	NO
2	U85195AP1986PTC006665	SUSHMITHA MEDICAL CENTRE PVT. LTD.	Director	29/09/2007	30/04/2007	-	Active	NO
3	U01119AP2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	20/03/2008	20/03/2008	-	Active	NO
4	U01119AP2008PTC059008	INDIAN NATURALS & GRANULES PRIVATE LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO
5	U05004AP2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
6	U01400AP2010PTC070276	GROWING VENTURES PRIVATE LIMITED	Director	02/09/2010	02/09/2010	-	Active	NO

Name :

Mr. Janardhan Polavarapu

Designation :

Director

Address :

20/8-10C, K.D.G.O. Colony, Patamata, Vijayawada-520008, Andhra Pradesh, India

Date of Birth/Age :

30.08.1961

Date of Appointment :

20.03.2008

DIN No.:

01954125

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74140AP1994PTC018836	DRUCKER VENTURES PRIVATE LIMITED	Director	30/12/2001	30/12/2001	-	Active	NO
2	U01119AP2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	20/03/2008	20/03/2008	-	Active	NO
3	U01119AP2005PTC047841	ARESEN BIO-TECH AND FARMS (INDIA) PRIVATE LIMITED	Director	18/07/2008	18/07/2008	-	Active	YES
4	U05004AP2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Additional director	09/05/2012	09/05/2012	-	Active	NO

Name :

Mr. Srinivas Potluri

Designation :

Director

Address :

11/171, Beside TTD Kalayana Mandapam, Station Road, Krishna-521333, Andhra Pradesh, India

Date of Birth/Age :

17.07.1975

Date of Appointment :

20.03.2008

DIN No.:

02116273

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U01119AP2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	20/03/2008	20/03/2008	-	Active	NO
2	U05004AP2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Additional director	09/05/2012	09/05/2012	-	Active	NO

Name :

Ms. Ravella Satish

Designation :

Director

Address :

11/171, Beside TTD Kalayana Mandapam, Station Road, Krishna-521333, Andhra Pradesh, India

Date of Birth/Age :

29.10.1967

Date of Appointment :

20.02.2009

DIN No.:

00237557

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U34103AP2005PTC047814	SUBHALAKSHMI MOTORS PRIVATE LIMITED	Director	18/10/2005	18/10/2005	01/12/2008	Active	NO
2	U85195AP1986PTC006665	SUSHMITHA MEDICAL CENTRE PVT. LTD.	Director	10/05/2006	10/05/2006	-	Active	NO
3	U01119AP2008PTC059008	INDIAN NATURALS & GRANULES PRIVATE LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO
4	U50100AP2009PTC062728	ARUNA MOTORS PRIVATE LIMITED	Director	05/02/2009	05/02/2009	-	Active	NO
5	U01119AP2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	20/02/2009	20/02/2009	-	Active	NO
6	U05004AP2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Additional director	09/05/2012	09/05/2012	-	Active	NO

Name :

Mr. Arul Victor Suresh

Designation :

Additional Director

Address :

63/241, Gnanammai Road, David Nagar, Padappa-601301, Tamilnadu, India

Date of Birth/Age :

16.05.1967

Date of Appointment :

21.07.2011

DIN No.:

03217498

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74300TN2003PTC052059	JOVIKA MEDIA PRIVATE LIMITED	Managing director	03/12/2003	03/12/2003	-	Active	NO
2	U01119AP2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	21/09/2011	21/07/2011	-	Active	NO
3	U01403TN2008PTC067644	Bentoli Agrinutrition India Private Limited	Additional director	31/03/2012	31/03/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 21.09.2011

Names of Shareholders	No. of Shares
M.S. Ranga Chary	10000
M.V.N. Sesha Chary	20000
P.S. Narendra	10000
P. Janardhan	10000
Ch. Sudheer	10000
P. Srinivas	10000
Total	70000

As on 22.12.2011

List of Allottees

Names of Allottee	No. of Shares
M.S. Ranga Chary	235000
M.V.N. Sesha Chary	445000
P.S. Narendra	795000
Chintapalli Sudheer	445000
Polavarapu Janardhan	222500
Potluri Srinivas	81250
Ravella Sateesh	225000
M/S. Growel Formulations Private Limited, India	580000
Sujata Chary	40000
Krishna M Chary	40000
M. Vijaya Lakshmi	220000
P. Surekha	100000
P. Sridevi	222500
B. Vijaya Lakshmi	225000
P. Pujita	273750
P. Jaganmohan Rao	90000
R. Hyma	112500
R.Pratap	112500
TOTAL	4465000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Fish Feeds.

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity
Feeds	M. Tonnes	60000	60000

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Indian Bank, Suryaraopet Branch, 29-19-78, Kaleswararao Road, Suryaraopet, Vijayawada – 520 002, Andhra Pradesh, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee Term loan Secured Working Capital Loans Loans Taken for Vehicles	140.271 74.759 0.648	103.607 44.995 0.000
Total	215.678	148.602
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Other Debt	26.500	10.000
Total	26.500	10.000

Banking Relations :	--
Auditors :
Name :	Praturi and Sriram Chartered Accountant
Address :	202, Sapthagiri Residency, 1-10-98/A, Chikoti Gardens, Begumpet, Hyderabad-500016, Andhra Pradesh, India
Pan No.:	AACSP2644M

CAPITAL STRUCTURE

As on 31.03.2011

Authorized Capital:

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs. 10/- each	Rs. 100.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
70000	Equity Shares	Rs. 10/- each	Rs. 0.700 million

After 21.09.2011

Authorized Capital:

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs. 10/- each	Rs. 100.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4535000	Equity Shares	Rs. 10/- each	Rs. 45.350 million

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		0.700	0.700	0.700
2] Share Application Money		89.300	81.278	50.000
3] Reserves & Surplus		19.703	(0.436)	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		109.703	81.542	50.700
LOAN FUNDS
1] Secured Loans		215.679	148.603	39.842
2] Unsecured Loans		26.500	10.000	0.000
TOTAL BORROWING		242.179	158.603	39.842
DEFERRED TAX LIABILITIES		2.494	0.000	0.000
TOTAL		354.376	240.145	90.542
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		199.618	208.977	7.933
Capital work-in-progress		72.018	5.095	57.225
INVESTMENT		0.010	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	96.175	17.747	0.000
	Sundry Debtors	107.497	21.223	0.000
	Cash & Bank Balances	6.507	3.996	13.580
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	18.935	13.306	14.796
Total Current Assets		229.114	56.272	28.376
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	129.020	24.877	3.270
	Other Current Liabilities	8.330	5.322	0.000
	Provisions	10.421	0.000	0.000
Total Current Liabilities		147.771	30.199	3.270
Net Current Assets		81.343	26.073	25.106
MISCELLANEOUS EXPENSES		1.387	0.000	0.278
TOTAL		354.376	240.145	90.542

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	N.A.	74.677	N.A.
		Other Income
		TOTAL (A)	N.A.	74.677	N.A.
Less	EXPENSES
		Office Expenses
		Administrative Expenses	N.A.	69.718	N.A.
		Advertising Expenses
		TOTAL (B)	N.A.	69.718	N.A.
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		N.A.	4.959	N.A.
			N.A.	1.779	N.A.
Less	FINANCIAL EXPENSES (D)
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		N.A.	3.180	N.A.
Less	DEPRECIATION/ AMORTISATION (F)		N.A.	3.618	N.A.
	PROFIT BEFORE TAX (E-F) (G)		N.A.	(0.438)	N.A.
Less	TAX (H)		N.A.	(0.002)	N.A.
	PROFIT AFTER TAX (G-H) (I)		N.A.	(0.436)	N.A.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	(0.58)	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA	(0.17)	NA
Return on Investment (ROI) (PBT/Networth)		NA	(0.01)	NA
Debt Equity Ratio (Total Liability/Networth)		3.55	2.32	0.85
Current Ratio (Current Asset/Current Liability)		1.55	1.86	8.68

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last One year	Yes
12]	Profitability for last One year	Yes
13]	Reasons for variation <> 20%	----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
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 involved in	----
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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Passport No of Proprietor/Partner/Director, if available	No
34]	Voter ID No of Proprietor/Partner/Director, if available	No

Bankers Charges Report as per Registry

Corporate identity number of the company	U01119AP2008PTC057027
Name of the company	Growel Feeds Private Limited
Address of the registered office or of the principal place of business in India of the company	82, SBI Officers colony, Moosarambagh, Hyderabad-500036, Andhra Pradesh, India e-mail: growelfeeds@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10125773
Type of charge	Immovable property
Particular of charge holder	Indian Bank, Suryarao Pet Branch, 29-19-78, Kaleshwara Rao Road, Suryaraopet, Vijayawada-520002, Andhra Pradesh, India e-mail: suryaraopet@indianbank.co.in
Nature of instrument creating charge	Memorandum of creation / Extension of security interest
Date of instrument Creating the charge	18.08.2011
Amount secured by the charge	Rs. 452.750 million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest OCC: Base rate +TP of 0.5% + spread of 3% Terms of Repayment Repayable on demand Margin OCC : 25% Extent and Operation of the charge EM of factory land and buildings 11.04 acres situated at Survey No.57, Chevuru Village, Mudinepalli SRO, Krishna District
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Equitable Mortgage of 2.00 acres of land belongs to company at Survey No.57, Chevuru Village, Mudinepalli SRO, Krishna District, Registered Sale deed No.214/2011 Equitable Mortgage of 1.00 acres of land belongs to company at Survey No.57, Chevuru Village, Mudinepalli SRO, Krishna District, Registered Sale Deed No.213/2011 Equitable mortgage of 2.04 acres of land belongs to company at Survey No.57, Chevuru Village, Mudinepalli SRO, Krishna District, Registered Sale deed No.222/2011 Equitable mortgage of 3.00 acres of land belongs to company at Survey No.57, Chevuru Village, Mudinepalli SRO, Krishna District, Registered Sale Deed No.126/2008 Equitable mortgage of 1.00 acres of land belongs to company at Survey No.57, Chevuru Village, Mudinepalli SRO, Krishna District, Registered Sale deed No.127/2008 Equitable mortgage of 2.00 acres of land belongs to company at Survey No.57, Chevuru Village, Mudinepalli SRO, Krishna District, Registered Sale Deed No.345/2008
Date of instrument modifying the charge	13.08.2011
Particulars of the present modification	There is no change in the existing limits, terms and conditions except creation of Memorandum of deposit of title deeds for extension of securities

FIXED ASSETS

v Land

v Building

v Plant and Machinery

v Air Conditioners

v Lab Equipment

v Works Equipments

v Computers

v Furniture and Fixtures

v Vehicles

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.55.49
UK Pound	1	Rs.86.39
Euro	1	Rs.68.69

INFORMATION DETAILS

Report Prepared by :

NID

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
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	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	NO
--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.