MIRA INFORM REPORT

Report Date :

28.08.2012

IDENTIFICATION DETAILS

Name :	ACG PAMPAC MACHINES PRIVATE LIMITED (w.e.f. 23.12.2009)
Formerly Known As :	PAM PAC MACHINES PRIVATE LIMITED PAM PAC MACHINES LIMITED
Registered Office :	1001/1002, Dalamal House, 10^th Floor, Nariman Point, Mumbai-400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.07.1987
Com. Reg. No.:	11-044041
Capital Investment / Paid-up Capital :	Rs. 22.000 Millions
CIN No.: [Company Identification No.]	U27299MH1987PTC044041
TAN No.: [Tax Deduction & Collection Account No.]	PNEP00296C
PAN No.: [Permanent Account No.]	AAACP4134F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Pharma Machines
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 3100000
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 and as per commitments. The company can be considered normal 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 – 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) DEFAULTERS’ 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.

INFORMATION DECLINED BY

Management non co-operative

LOCATIONS

Registered Office / Corporate Headquarters :	1001/1002, Dalamal House, 10^th Floor, Nariman Point, Mumbai-400021, Maharashtra, India
Tel. No.:	91-22-30089444 / 45
Fax No.:	91-22-22872560
E-Mail :	Deepak.parekh@acg-world.com info@acg-world.com
Factory / Branch Office :	Gate No.446/2, Village Bebadohol, Taluka Maval, District Pune-410506, Maharashtra, India
Tel. No.:	91-2114-305700 / 1
Fax No.:	91-2114-237092

DIRECTORS

AS ON 22.07.2011

Name :	Mr. Jasjit Singh
Designation :	Director
Address :	2-B, Swapnalok Napean Sea Road, Mumbai-400006, Maharashtra, India
Date of Birth/Age :	03.04.1943
Date of Appointment :	09.07.1987
DIN No.:	00901470

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	U29100MH1972PTC016053	ACG AJAS COMPONENTS PRIVATE LIMITED	Director	07/10/1972	07/10/1972	-	Active	NO
2	U24239MH1972PTC015632	ACG PAM PHARMA TECHNOLOGIES PRIVATE LIMITED	Director	02/12/1972	02/12/1972	-	Active	NO
3	U01110MH1971GAP015467	SCI-TECH CENTRE	Director	12/07/1976	12/07/1976	-	Active	NO
4	U73100MH1981ULT023930	EMELL AUDHOWAGIK SAMSHODHAN NIGAM PRIVATE LIMITED	Director	28/02/1981	28/02/1981	-	Strike off	NO
5	U74120MH1983NPL031696	AJAS AGROVET FOUNDATION	Director	29/12/1983	29/12/1983	-	Active	NO
6	U27299MH1987PTC044041	ACG PAMPAC MACHINES PRIVATE LIMITED	Director	09/07/1987	09/07/1987	-	Active	NO
7	U24235MH1988PTC048924	CUSTOM CAPSULES PRIVATE LIMITED	Director	23/09/1988	23/09/1988	-	Active	NO
8	U29251MH1996PTC104558	PAM-GLATT PHARMA TECHNOLOGIES PRIVATE LIMITED	Director	17/12/1996	17/12/1996	-	Active	NO
9	U24239MH1983PTC031336	ACG ARTS AND PROPERTIES PRIVATE LIMITED	Director	01/10/1998	01/10/1998	-	Active	NO
10	U28129MH2003PTC139916	PACKSHIELD INDIA PRIVATE LIMITED	Director	07/04/2003	07/04/2003	-	Active	NO
11	U45200MH2004PTC149770	ACG PHARMAPACK PRIVATE LIMITED	Director	01/12/2004	01/12/2004	-	Active	NO
12	U45200MH1994PTC077466	ACG REAL ESTATE PRIVATE LIMITED	Director	11/03/2005	11/03/2005	-	Active	NO
13	U24239MH1961PTC012061	ACG ASSOCIATED CAPSULES PRIVATE LIMITED	Managing director	01/04/2005	01/04/2005	-	Active	NO
14	U72200GJ2008PTC055122	VIZTEK TECHNOLOGIES PRIVATE LIMITED	Director	26/09/2008	26/09/2008	21/07/2009	Active	NO
15	U29219MH2009PTC190634	PAM INDTECH MACHINES PRIVATE LIMITED	Director	25/03/2009	25/03/2009	-	Active	NO
16	U72300MH2009PTC192362	ACG INSPECTION SYSTEMS PRIVATE LIMITED	Director	22/06/2009	22/06/2009	-	Active	NO
17	U29268MH2009PTC196714	ACG KORSCH COMPRESSION TECHNOLOGIES PRIVATE LIMITED	Director	28/10/2009	28/10/2009	-	Strike off	NO
18	U70109MH2010PTC199305	EVITA ESTATES PRIVATE LIMITED	Director	12/04/2010	12/04/2010	-	Active	NO
19	U70102MH2010PTC198368	ORIND ESTATES PRIVATE LIMITED	Director	12/04/2010	12/04/2010	-	Active	NO
20	U51909MH2010PTC201509	ADHIKAR TRADING PRIVATE LIMITED	Director	12/05/2010	12/05/2010	-	Active	NO
21	U51909MH2010PTC202502	JEET MERCANTILE PRIVATE LIMITED	Director	14/05/2010	14/05/2010	-	Active	NO
22	U74210MH2010PTC204129	ACG METALCRAFTS PRIVATE LIMITED	Director	26/07/2010	26/07/2010	-	Active	NO
23	U91990MH2010NPL211312	W P ORGANISATION (MUMBAI CHAPTER)	Director	23/12/2010	23/12/2010	10/01/2011	Active	NO
24	AAA-1357	ACG VALUE LINKS LLP	Body corporate as Designated Partner	18/05/2010	18/05/2010	-	Active	NO

Name :	Mr. Ajit Singh
Designation :	Director
Address :	A-1, Brighton Napean Sea Road, Mumbai-400006, Maharashtra, India
Date of Birth/Age :	20.11.1941
Date of Appointment :	01.11.1988
DIN No.:	00915347

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	U29100MH1972PTC016053	ACG AJAS COMPONENTS PRIVATE LIMITED	Director	07/10/1972	07/10/1972	-	Active	NO
2	U01110MH1971GAP015467	SCI-TECH CENTRE	Director	15/03/1974	15/03/1974	-	Active	NO
3	U73100MH1981ULT023930	EMELL AUDHOWAGIK SAMSHODHAN NIGAM PRIVATE LIMITED	Director	28/02/1981	28/02/1981	-	Strike off	NO
4	U24235MH1988PTC048924	CUSTOM CAPSULES PRIVATE LIMITED	Director	23/09/1988	23/09/1988	-	Active	NO
5	U27299MH1987PTC044041	ACG PAMPAC MACHINES PRIVATE LIMITED	Director	01/11/1988	01/11/1988	-	Active	NO
6	U24239MH1972PTC015632	ACG PAM PHARMA TECHNOLOGIES PRIVATE LIMITED	Director	01/11/1988	01/11/1988	-	Active	NO
7	U74120MH1983NPL031696	AJAS AGROVET FOUNDATION	Director	01/04/1994	01/04/1994	-	Active	NO
8	U29251MH1996PTC104558	PAM-GLATT PHARMA TECHNOLOGIES PRIVATE LIMITED	Director	17/12/1996	17/12/1996	-	Active	NO
9	U24239MH1983PTC031336	ACG ARTS AND PROPERTIES PRIVATE LIMITED	Director	28/09/1999	28/09/1999	-	Active	NO
10	U28129MH2003PTC139916	PACKSHIELD INDIA PRIVATE LIMITED	Director	07/04/2003	07/04/2003	-	Active	NO
11	U45200MH2004PTC149770	ACG PHARMAPACK PRIVATE LIMITED	Director	01/12/2004	01/12/2004	-	Active	NO
12	U45200MH1994PTC077466	ACG REAL ESTATE PRIVATE LIMITED	Director	11/03/2005	11/03/2005	-	Active	NO
13	U24239MH1961PTC012061	ACG ASSOCIATED CAPSULES PRIVATE LIMITED	Whole-time director	01/04/2005	01/04/2005	-	Active	NO
14	U91120MH1965GAP013389	ORGANISATION OF PHARMACEUTICAL PRODUCERS OF INDIA	Director	23/09/2006	23/09/2006	-	Active	NO
15	U72200GJ2008PTC055122	VIZTEK TECHNOLOGIES PRIVATE LIMITED	Director	26/09/2008	26/09/2008	21/07/2009	Active	NO
16	U29219MH2009PTC190634	PAM INDTECH MACHINES PRIVATE LIMITED	Director	25/03/2009	25/03/2009	-	Active	NO
17	U72300MH2009PTC192362	ACG INSPECTION SYSTEMS PRIVATE LIMITED	Director	22/06/2009	22/06/2009	-	Active	NO
18	U74999MH2008NPL185159	INTERNATIONAL WINE AND FOOD SOCIETY	Director	01/08/2009	01/08/2009	-	Active	NO
19	U29268MH2009PTC196714	ACG KORSCH COMPRESSION TECHNOLOGIES PRIVATE LIMITED	Director	28/10/2009	28/10/2009	-	Strike off	NO
20	U70109MH2010PTC199305	EVITA ESTATES PRIVATE LIMITED	Director	12/04/2010	12/04/2010	-	Active	NO
21	U70102MH2010PTC198368	ORIND ESTATES PRIVATE LIMITED	Director	12/04/2010	12/04/2010	-	Active	NO
22	U51909MH2010PTC201509	ADHIKAR TRADING PRIVATE LIMITED	Director	12/05/2010	12/05/2010	-	Active	NO
23	U51909MH2010PTC202502	JEET MERCANTILE PRIVATE LIMITED	Director	14/05/2010	14/05/2010	-	Active	NO
24	U74210MH2010PTC204129	ACG METALCRAFTS PRIVATE LIMITED	Director	26/07/2010	26/07/2010	-	Active	NO
25	AAA-1357	ACG VALUE LINKS LLP	Body corporate as Designated Partner	18/05/2010	18/05/2010	-	Active	NO

Name :	Mr. Karan Singh
Designation :	Director
Address :	2-B, Swapnalok Napean Sea Road, Mumbai-400006, Maharashtra, India
Date of Birth/Age :	23.07.1979
Date of Appointment :	25.11.2005
DIN No.:	00901342

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	Company/ LLP Status	Defaulting status
1	U01110MH1971GAP015467	SCI-TECH CENTRE	Director	01/01/2005	01/01/2005	Active	NO
2	U24239MH1961PTC012061	ACG ASSOCIATED CAPSULES PRIVATE LIMITED	Director	01/04/2005	01/04/2005	Active	NO
3	U24239MH1972PTC015632	ACG PAM PHARMA TECHNOLOGIES PRIVATE LIMITED	Director	25/11/2005	25/11/2005	Active	NO
4	U27299MH1987PTC044041	ACG PAMPAC MACHINES PRIVATE LIMITED	Director	25/11/2005	25/11/2005	Active	NO
5	U45402PN1992PLC065521	M-TECH INNOVATIONS LIMITED	Nominee director	24/09/2007	24/09/2007	Active	NO
6	U72300MH2009PTC192362	ACG INSPECTION SYSTEMS PRIVATE LIMITED	Director	30/07/2009	30/07/2009	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 22.07.2011

Names of Shareholders	No. of Shares
Singh Daljit Jasjit / Kavita Jasjit Singh	688
Daljit Singh / Ajit Singh / Monica	688
ACG Arts and Properties Private Limited, India	43541
Evita Estates Private Limited, India	175083
TOTAL	220000

AS ON 22.07.2011

Equity Shares Break Up	Percentage of Holding
Bodies corporate	99.37
Directors or relatives of Directors	0.63
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Pharma Machines

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Long Term
Cash credit	12.075	18.025
Short Term
Packing Credit	5.400	0.000
Buyers Credit	6.555	0.000
(Secured by first charge on the fixed assets and current assets of the Company situated at village Bebadohol, including present and future book debts.) (Payable within one year Rs. 11.955 Millions previous year Rs. Nil)
TOTAL	24.030	18.025

Banking Relations :	--
Auditors :
Name :	B K Khare and Company Chartered Accountant
Address :	706/708, Sharda Chambers, New Marine Lines, Mumbai-400020, Maharashtra, India
Tel. No.:	91-22-22000607 / 7318 / 6360 / 66315835 / 36
Fax No.:	91-22-22003476
E-Mail :	info@bkkhareco.com
PAN No.:	AAARF0265E
Holding Company :	Evita Estates Private Limited CIN No.: - U70109MH2010PTC199305
Enterprise owned or significantly influenced by key management personnel and their related :	· Associated capsules Private Limited · Ajas Components Private Limited · Scitech Centre · ACG Arts and Properties · Pt. Universal Capsules – Indonesia · Reflection · ACG Europe · Centercorp · Universal Capsules Philippines · Customs Capsules Private Limited · ACG Inspection Systems Private Limited · ACG Do Braxil Representacoes Commercials S/A. · EH Advisors and Consultants Private Limited · ACG Pam Glat Private Limited · ACG Value Links

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
220000	Equity Shares	Rs.100/- each	Rs. 22.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
220000	Equity Shares	Rs.100/- each	Rs. 22.000 Millions

NOTE:

Out of above 175083 Equity shares are held by Holding Company, Evita Estates Private Limited since 22^nd May 2010.

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		22.000	22.000	22.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		760.830	673.607	535.506
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		782.830	695.607	557.506
LOAN FUNDS
1] Secured Loans		24.030	18.025	0.969
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		24.030	18.025	0.969
DEFERRED TAX LIABILITIES		7.917	6.719	4.739
TOTAL		814.777	720.351	563.214
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		137.472	134.914	111.614
Capital work-in-progress		0.076	0.042	0.000
INVESTMENT		147.311	235.361	106.342
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	183.659	120.325	148.688
	Sundry Debtors	133.973	196.864	234.732
	Cash & Bank Balances	17.534	5.911	6.313
	Other Current Assets	1.200	1.184	0.000
	Loans & Advances	480.079	358.847	223.722
Total Current Assets		816.445	683.131	613.455
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	101.282	124.737	90.986
	Other Current Liabilities	161.514	180.421	157.781
	Provisions	23.731	27.939	19.430
Total Current Liabilities		286.527	333.097	268.197
Net Current Assets		529.918	350.034	345.258
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		814.777	720.351	563.214

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1010.970	1096.080	918.270
		Other Income
		TOTAL	1010.970	1096.080	918.270
Less	EXPENSES
		Office Expenses	886.200	899.960	830.690
		Administrative Expenses
		Advertising Expenses
		TOTAL	886.200	899.960	830.690
	PROFIT BEFORE TAX		124.770	196.120	87.580
Less	TAX		37.550	58.020	26.100
	PROFIT AFTER TAX		87.220	138.100	61.480
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		200.720	482.620	NA
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	420.000	NA
	BALANCE CARRIED TO THE B/S		287.940	200.720	NA
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	340.619	390.991	NA
	TOTAL EARNINGS		340.619	390.991	NA
	IMPORTS
		Raw Materials, Component and Spares	8.215	22.401	NA
		Capital Goods	6.714	0.000	NA
	TOTAL IMPORTS		14.929	22.401	NA
	Earnings Per Share (Rs.)		396	628	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	8.63	12.60	6.70
Return on Total Assets (PBT/Total Assets}	(%)	13.08	23.97	12.08
Return on Investment (ROI) (PBT/Networth)		0.16	0.28	0.16
Debt Equity Ratio (Total Liability/Networth)		0.41	0.51	0.49
Current Ratio (Current Asset/Current Liability)		2.85	2.05	2.29

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 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)	Yes
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]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

IXED ASSETS

· Land

· Building

· Plant and Machinery

· Tools and Accessories

· Technical Know-How Fee

· Goodwill

· Furniture and Fixtures

· Office Equipments

· Computers

· Vehicles

WEBSITE DETAILS

PROFILE

Globalization of world trade has thrown up many new challenges for the pharmaceutical industry. With increasing competition, cost pressures, ever growing product diversity, the need for smaller batch runs and with it attractive packaging presentations have become the 'mantra' for success of the brand in the marketplace. The supply chain of the industry is therefore in an need to be highly responsive, making flexibility the overriding attribute of all.

Subject is a leading manufacturer of Hi-tech Blister Packing and Carton Pack-ing Machines. It is a member of ACG Worldwide. Pam Pac is a Group company of ACG Worldwide, which offers end-to-end solutions in solid dosage delivery system including Fluid-bed systems, Coaters, Granulators, Empty Hard Capsules, Encapsulators, Tablet Press, liquid-in-hard capsules technology, barrier packaging fims, blister packing machines, cartoning machines, end-of-lines packaging.

Subject has a state of the art manufacturing plant located just over 100 miles from Mumbai, the business capital of India. It produces some of the world's most advanced packaging machinery that are reliable, flexible and capable of delivering higher outputs. The wide range of blister packing machines is made to suit all types of pharmaceutical products with small, medium and large batch sizes. The machines are versatile enough to handle a variety of films and laminates, depending on application and sensitivity of the product. Our cartoning machines products both rigid and flexible with equal ease and efficacy, irrespective of the batch size.

Being the pioneers in Alu/Alu, tropical blisters and integrated blister cartoning solutions with online inspection systems in India, Pam-Pac's innovative and continuous improvement has resulted in over 900 successful installations in more than 40 countries. Backed by ACG Worldwide technology expertise, Pam-Pac has developed unique applications like powder filling and liquid filling in blisters to meet specific customer needs.

Following this unparallel portfolio of blister packing and cartoning solutions in manufacturing, come stringent 'pre-dispatch' quality checks at their facility, well supported by highly equipped and competent design facilities. Partnering in the validation, calibration and training needs and a strong service back up for all their products makes Pam-Pac one of the most comprehensive and innovative blister packing and cartoning solution provider in the world.

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. 55.59
UK Pound	1	Rs. 87.87
Euro	1	Rs. 69.49

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		49

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.