MIRA INFORM REPORT

Report Date :

07.12.2012

IDENTIFICATION DETAILS

Name :	WILLIAM GOODACRE AND SONS INDIA PRIVATE LIMITED
Registered Office :	XVIII/1146, P B No. 4606, South Wadai, Canal Road, Alleppey-688012, Kerala
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	18.10.1972
Com. Reg. No.:	09-002453
Capital Investment/ Paid-up Capital:	Rs.0.841 Million
CIN No.: [Company Identification No.]	U17214KL1972PTC002453
TAN No.: [Tax Deduction & Collection Account No.]	TVDW00047F
PAN No.: [Permanent Account No.]	AAACW2943D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Floor Coverings.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 919000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well 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 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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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.

LOCATIONS

Registered Office :	XVIII/1146, P B No. 4606, South Wadai, Canal Road, Alleppey-688012, Kerala, India
Tel. No.:	91-477-2243662
Fax No.:	91-477-2243124
E-Mail :	goodacre@vsnl.com
Website :	www.karan-group.com

DIRECTORS

AS ON 29.09.2012

Name :

Mrs. Subhadra Revi Karunakaran

Designation :

Chairman and Managing Director

Address :

Shanti Bhavan, Alleppey-682001, Kerala, India

Date of Birth/Age :

27.11.1937

Date of Appointment :

30.11.1989

DIN No :

00310351

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	U52201KL1927PLC000005	THE ALLEPPEY COMPANY LIMITED	Director	28/06/1978	28/06/1978	Active	NO
2	U17214KL1972PTC002453	WILLIAM GOODACRE AND SONS INDIA PRIVATE LIMITED	Director	28/04/1980	28/04/1980	Active	NO
3	U51494KL1948PTC000582	KERALA BALERS PRIVATE LIMITED	Director	18/05/1991	18/05/1991	Active	NO
4	U17239KL2001PTC014523	KARAN AND UEDA CARPET PRIVATE LIMITED	Director	06/02/2001	06/02/2001	Active	NO
5	U17115KL1997PTC011434	KARINOS WEAVE PRIVATE LIMITED	Director	09/05/2007	09/05/2007	Active	NO

Name :

Mr. Vivek Venugopal

Designation :

Managing Director

Address :

Saras Arattuvazhy, A S Road, Alleppy-688007, Kerala. India

Date of Birth/Age :

11.12.1969

Date of Appointment :

05.08.1997

DIN No :

00310138

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	U17214KL1972PTC002453	WILLIAM GOODACRE AND SONS INDIA PRIVATE LIMITED	Managing director	05/08/1997	05/08/1997	Active	NO
2	U17115KL1997PTC011434	KARINOS WEAVE PRIVATE LIMITED	Director	29/10/1997	29/10/1997	Active	NO
3	U52201KL1927PLC000005	THE ALLEPPEY COMPANY LIMITED	Director	02/12/2003	02/12/2003	Active	NO
4	U17239KL2001PTC014523	KARAN AND UEDA CARPET PRIVATE LIMITED	Director	05/02/2004	05/02/2004	Active	NO
5	U51494KL1948PTC000582	KERALA BALERS PRIVATE LIMITED	Director	06/01/2006	06/01/2006	Active	NO
6	U91200KL1939NPL000034	ASSOCIATED COTTAGE INDUSTRIES AND SHIPPERS UNION	Director	30/09/2010	30/09/2010	Active	NO

Name :

Mr. Appukuttan Karunkaran Nair

Designation :

Director

Address :

Devika, M10/50, Changampuzha Nagar, Add, Ernakullam, Kerala, India

Date of Birth/Age :

27.08.1943

Date of Appointment :

19.06.2006

DIN No :

00009148

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	L24299KL1975PLC002691	NITTA GELATIN INDIA LIMITED	Director	28/06/2008	01/04/1998	-	Active	NO
2	U24231KL1997PLC011971	BAMNI PROTEINS LIMITED	Director	20/04/1998	20/04/1998	27/06/2008	Active	NO
3	U29299KL1995PLC009664	CII GUARDIAN INTERNATIONAL LIMITED	Director	01/10/1999	01/10/1999	-	Active	NO
4	U24299KL1994PLC007681	MERCHEM LIMITED	Director	26/02/2001	26/02/2001	-	Active	NO
5	U24299KL1951SGC001237	THE TRAVANCORE COCHIN CHEMICALS LIMITED	Nominee director	08/06/2001	08/06/2001	16/09/2009	Active	NO
6	U31102KL1996PTC010715	NORATEL INDIA POWER COMPONENTS PRIVATE LIMITED	Director	29/03/2003	29/03/2003	05/12/2009	Active	NO
7	U51505KL1997PTC011450	TOROID ASIA PRIVATE LIMITED	Director	30/09/2005	30/09/2005	26/04/2007	Active	NO
8	L24230MH1990PLC057062	STRIDES ARCOLAB LIMITED	Director	27/10/2005	27/10/2005	-	Active	NO
9	U65910KL1991PTC006106	GEOJIT CREDITS PRIVATE LIMITED	Director	08/07/2011	02/11/2005	-	Active	NO
10	U51494KL1948PTC000582	KERALA BALERS PRIVATE LIMITED	Director	19/06/2006	19/06/2006	-	Active	NO
11	U17214KL1972PTC002453	WILLIAM GOODACRE AND SONS INDIA PRIVATE LIMITED	Director	19/06/2006	19/06/2006	-	Active	NO
12	U52201KL1927PLC000005	THE ALLEPPEY COMPANY LIMITED	Director	19/06/2006	19/06/2006	-	Active	NO
13	U30008KL1985PLC004225	GUARDIAN CONTROLS LIMITED	Director	17/05/2008	17/05/2008	-	Active	NO
14	L31200KL1996PLC010010	V GUARD INDUSTRIES LIMITED	Director	27/07/2009	27/05/2009	-	Active	NO
15	U62100KL2012PTC032533	SEABIRD SEAPLANE PRIVATE LIMITED	Director	02/11/2012	02/11/2012	-	Active	NO

Name :

Mr. Ashok Venugopal

Designation :

Director

Address :

Saras Arattuvazhy, A S Road, Alleppy-688007, Kerala. India

Date of Birth/Age :

01.06.1965

Date of Appointment :

21.11.2000

DIN No :

00310276

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	U17214KL1972PTC002453	WILLIAM GOODACRE AND SONS INDIA PRIVATE LIMITED	Director	21/11/2000	21/11/2000	Active	NO
2	U51494KL1948PTC000582	KERALA BALERS PRIVATE LIMITED	Managing director	21/11/2000	21/11/2000	Active	NO
3	U52201KL1927PLC000005	THE ALLEPPEY COMPANY LIMITED	Managing director	01/01/2011	21/11/2000	Active	NO
4	U36104KL1940NPL001180	THE TRAVANCORE COIR MATS AND MATTING MANUFACTURERS ASSOCIATION	Director	26/11/2008	26/11/2008	Active	NO

Name :

Mr. Sugunendran Kesavan

Designation :

Director

Address :

Sushanth, V C N B Road, Alleppey-688001, Kerala, India

Date of Birth/Age :

19.05.1930

Date of Appointment :

31.03.1997

DIN No :

00310415

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	U52201KL1927PLC000005	THE ALLEPPEY COMPANY LIMITED	Director	31/03/1982	31/03/1982	-	Active	NO
2	U36104KL1940NPL001180	THE TRAVANCORE COIR MATS AND MATTING MANUFACTURERS ASSOCIATION	Director	30/09/1993	30/09/1993	22/12/2011	Active	NO
3	U17214KL1972PTC002453	WILLIAM GOODACRE AND SONS INDIA PRIVATE LIMITED	Director	31/03/1997	31/03/1997	-	Active	NO
4	U17115KL1997PTC011434	KARINOS WEAVE PRIVATE LIMITED	Director	14/05/1997	14/05/1997	-	Active	NO
5	U55101KL2010PTC026602	CAMELOT CORDIALITY HOTELS PRIVATE LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO

Name :

Mr. Narayanan Venugopal

Designation :

Whole Time Director

Address :

Saras Arattuvazhy, A S Road, Alleppy-688007, Kerala. India

Date of Birth/Age :

23.05.1932

Date of Appointment :

02.12.2003

DIN No :

00310381

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	U36104KL1940NPL001180	THE TRAVANCORE COIR MATS AND MATTING MANUFACTURERS ASSOCIATION	Director	29/11/1988	29/11/1988	26/11/2008	Active	NO
2	U17239KL2001PTC014523	KARAN AND UEDA CARPET PRIVATE LIMITED	Director	06/02/2001	06/02/2001	-	Active	NO
3	U51494KL1948PTC000582	KERALA BALERS PRIVATE LIMITED	Director	02/12/2003	02/12/2003	-	Active	NO
4	U17214KL1972PTC002453	WILLIAM GOODACRE AND SONS INDIA PRIVATE LIMITED	Director	02/12/2003	02/12/2003	-	Active	NO
5	U17119KL2005PTC018518	ALAPPUZHA NATURAL FIBRE INFRASTRUCTURE DEVELOPMENT COMPANY PRIVATE LIMITED	Director	30/03/2006	30/03/2006	-	Active	NO
6	U52201KL1927PLC000005	THE ALLEPPEY COMPANY LIMITED	Director	30/06/2007	30/06/2007	-	Active	NO
7	U91200KL1939NPL000034	ASSOCIATED COTTAGE INDUSTRIES AND SHIPPERS UNION	Director	29/09/2007	29/09/2007	30/09/2010	Active	NO
8	U91900KL2009NPL024281	FEDERATION OF INDIAN COIR EXPORTERS' ASSOCIATIONS	Nominee director	08/06/2009	08/06/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Subhadra Revi Karunakaran	51647
Coir Produced Limited, Great Britain	32468
Vivek Venugopal	1
TOTAL	84116

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	39.00
Directors or relatives of directors	61.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Floor Coverings.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Indian Overseas Bank Limited, V S V Building, C C N B Road, Alappuzha-688011, Kerala, India

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Loans Repayable on Demand
From Banks
Packing Credit Facilities [Secured by hypothecation of stocks and first charge on the entire current assets of the company and also by collateral security of fixed deposits of the company amounting to Rs.20.000 Millions and a second charge on the fixed assets of the company.]	174.413	189.300
Loan [Against fixed deposits is secured by a charge over the fixed deposits of the company]	79.057	44.200
TOTAL	253.470	233.500

Banking Relations :	--
Auditors :
Name :	Mr. R. Rajasekharan Chartered Accountant
Address :	Varma and Varma, Srinikethan, Nettipadam Road, Ernakulam-682016, Kerala, India
PAN No:	AABFV9555E
Subsidiaries :	Karinos Weave Private Limited CIN No.: U17115KL1997PTC011434
Related Parties :	· Coir Produce Limited, UK · The Alleppey Company Limited · Kerala Balers Private Limited · Karan and Ueda Carper Private Limited · Karan Agency · Sri Karunakaran Charitabel Trust

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
84116	Equity Shares	Rs.10/- each	Rs.0.841 Million

NOTE:

Details of shareholders holding more than 5% shares in the company as at the end of the year:

Name of Shareholders	As on 31.03.2012
	No. of Shares	% of Shareholding
Subhadra Revi Karunna Karan	51647	61.40 %
Coir Produce UK	32468	38.60 %

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.841	0.841	0.841
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		229.104	223.283	208.480
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		229.945	224.124	209.321
LOAN FUNDS
1] Secured Loans		253.470	233.500	185.219
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		253.470	233.500	185.219
DEFERRED TAX LIABILITIES		0.000	0.000	0.723
TOTAL		483.415	457.624	395.263
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		126.175	64.400	65.283
Capital work-in-progress		2.098	43.774	27.281
INVESTMENT		4.572	4.525	4.469
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	85.172	86.767	75.540
	Sundry Debtors	59.367	53.947	46.779
	Cash & Bank Balances	209.053	202.012	208.929
	Other Current Assets	35.821	32.243	3.876
	Loans & Advances	66.831	64.473	40.822
Total Current Assets		456.244	439.442	375.946
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	86.577	87.589	69.352
	Other Current Liabilities	5.720	5.490	5.770
	Provisions	13.377	1.438	2.594
Total Current Liabilities		105.674	94.517	77.716
Net Current Assets		350.570	344.925	298.230
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		483.415	457.624	395.263

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	NA	NA
		Other Income	NA	NA
		TOTAL	NA	NA	724.043
Less	EXPENSES
		TOTAL	NA	NA	695.642
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		33.422	27.044	28.401
Less/ Add	DEPRECIATION/ AMORTISATION		11.712	8.533	5.891
	PROFIT / (LOSS) BEFORE TAX		21.710	18.511	22.509
Less	TAX		5.346	5.788	7.909
	PROFIT / (LOSS) AFTER TAX		16.364	12.723	14.600
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		24.836	12.113	(2.487)
	BALANCE CARRIED TO THE B/S		41.200	24.836	12.113
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	611.695	676.336	616.002
	TOTAL EARNINGS		611.695	676.336	616.002
	IMPORTS
		Raw Materials	54.531	60.457	50.102
		Stores & Spares	0.000	0.000	3.902
	TOTAL IMPORTS		54.531	60.457	54.004
	Earnings / (Loss) Per Share (Rs.)		194.54	220.07	173.57

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	2.02
Return on Total Assets (PBT/Total Assets}	(%)	3.73	3.67	5.10
Return on Investment (ROI) (PBT/Networth)		0.09	0.08	0.11
Debt Equity Ratio (Total Liability/Networth)		1.56	1.46	1.26
Current Ratio (Current Asset/Current Liability)		4.32	4.65	4.84

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 one year	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 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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

OPERATIONS:

The working of the Company resulted in a net Profit of Rs.21.710 millions during the year as against a Profit of Rs. 18.511 millions during the previous year after providing for depreciation. The Company expects turnover of Rs.800.000 millions in the forthcoming financial year on the grounds of favourable trends.

Working of Karinos Weave Private Limited a subsidiary Company jointly promoted by their Company and Rinos B.V., Netherlands, had resulted in a Net Profit of Rs.1.232 millions.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	90022335
Corporate identity number of the company	U17214KL1972PTC002453
Name of the company	WILLIAM GOODACRE AND SONS INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	XVIII/1146, P B No. 4606, South Wadai, Canal Road, Alleppey-688012, Kerala, India
Type of charge	Book Debts Movable Property (not being pledge)
Particular of charge holder	Indian Overseas Bank Limited, V S V Building, C C N B Road, Alappuzha-688011, Kerala, India
Email	nxtgen19@gmail.com
Nature of description of the instrument creating or modifying the charge	Letter of hypothecation
Date of instrument Creating the charge	13.09.2012
Amount secured by the charge	Rs.110.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest BR+0.75%, i.e. 11.25% at present Terms of Repayment repayable on demand Margin 25% Extent and Operation of the charge By hypothecation of raw materials and movables assets including book debts. By this modification of FDDBP limit of Rs 70.000 Millions is enhanced to Rs 110.000 Millions. (two way Interchangeability of pc limit and bill limit allowed upto Rs.240.000 Millions)
Short particulars of the property charged	Hypothecation of coir, coir mats, rubber mats, rubberized coir mats, PVC mats, other natural fibre mats, jute mats and raw materials etc
Particulars of the present modification	The existing FDDBP limit of Rs.70.000 Millions has been enhanced to Rs 110.000 Millions with two way interchangeability of Rs 240.000 Millions with pc limit

CONTINGENT LIABILITIES:

Particulars	31.03.2012 (Rs. in millions)	31.03.2011 (Rs. in millions)
Bills Discounted With Banks	52.487	45.102
Bank Guarantee Outstanding	9.385	10.120
Export Obligation against Concessional Duty on Imports	13.427	35.562
Disputed Service Tax Demand	0.877	0.877
TOTAL	76.176	91.661

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fittings

· Vehicle

WEBSITE DETAILS:

GROUP PROFILE:

Backed with more than 100 years of experience in the Coir industry, Karan group has been recognized as the indisputable industry leader. Starting as Coir yarn spinners in the late 1800s, we presently own the largest integrated factory in Asia for weaving natural fiber floor coverings. Their factories are equipped with the latest yarn preparation and dyeing equipment, imported automatic shaft/jacquard looms and finishing equipment. We recruit and train the best weaving talent available. Their collection of woven Coir, Sisal and Jute floor coverings is exported to more than l00 countries. We are also the pioneers in Asia for the manufacture of Vinyl backed Coir mats/rolls. We have successfully maintained the balance between traditional craftsmanship and latest technology throughout their journey. We still have the best craftsmen in the handloom industry working for us. That helps us to be the largest exporters of traditional, hand-woven coir mats, mattings and rugs from India.

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.54.47
UK Pound	1	Rs.87.63
Euro	1	Rs.71.12

INFORMATION DETAILS

Report Prepared by :

TPT

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	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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.