MIRA INFORM REPORT

Report Date :

07.02.2012

Note : The Registered office of the company has been shifted from Oberoi Trade Centre, Oberoi-Complex, New Link Road, Andheri (West), Mumbai - 400 053, Maharashtra, India to present address w.e.f. 14.08.2007.

IDENTIFICATION DETAILS

Name :	NIMBUS COMMUNICATION LIMITED
Registered Office :	Nimbus Center, Oberoi Complex, Andheri (West), Mumbai – 400 053, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	30.06.1987
Com. Reg. No.:	11-43940
Capital Investment / Paid-up Capital :	Rs.615.018 Millions
CIN No.: [Company Identification No.]	U99999MH1987PLC043940
TAN No.: [Tax Deduction & Collection Account No.]	MUMN10042E
PAN No.: [Permanent Account No.]	AAACN3947L
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Company is into business of production of television programming airtime marketing, Sports marketing and services and motion pictures.
No. of Employees :	Not Divulged by the management

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 40000000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Profit margin of the company appears to be low. However, Net Worth appears to be satisfactory. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as 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 – 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

INFORMATION DECLINED BY

Name :	Mr. Pradeep Lenka
Designation :	Deputy Manager in Accounts

LOCATIONS

Registered Office :	Nimbus Center, Oberoi Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India
Tel. No.:	91-22-26352000
Fax No.:	91-22-26348892 / 26352123 / 26349878
E-Mail :	rpopat@nimbus.co.in nimbus@nimbus.co.in compliance@nimbus.co.in
Website:	http://www.nimbus.co.in

DIRECTORS

As on 26.12.2011

Name :	Mr. Harish Thawani
Designation :	Chairman and Whole Time Director
Address :	701, Rendezvous, 120-121, Perry Road, Bandra (West), Mumbai – 400 050, Maharashtra, India
Date of Birth/Age :	16.04.1959
Date of Appointment :	30.06.1987
DIN No.:	01082908

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U99999MH1987PLC043940	Nimbus Communications Limited	Whole-time director	01-06-08	30-06-87	Active	NO
2	U92130MH1997PLC111564	Nirvana Television Limited	Director	27-10-97	27-10-97	Active	NO
3	U99999MH1999PLC118070	Paramount Corporation Limited	Director	29-01-99	29-01-99	Active	NO
4	U92111AP2002PTC039837	Nimbus Motion Pictures (A.P.) Private Limited	Director	30-10-02	30-10-02	Active	NO
5	U92130MH2002PTC137963	Nimbus Home Entertainment Private Limited	Director	22-11-02	22-11-02	Active	NO
6	U92110MH2003PLC142256	Neo Broadcast Limited	Director	17-09-03	17-09-03	Active	NO
7	U67120MH2004PTC148853	Zenith Sports Private Limited	Director	28-09-04	28-09-04	Active	NO
8	U92411MH2006PTC160563	Neo Sports Broadcast Private Limited	Whole-time director	15-10-09	17-03-06	Active	NO
9	U92120MH2007PTC175801	Carnival Entertainment Private Limited	Director	08-11-07	08-11-07	Active	NO
10	U92400MH2011PTC213530	World Series Hockey Private Limited	Director	14-02-11	14-02-11	Active	NO
11	U92412MH2011PTC224811	ProSport Holdings Private Limited	Director	12-12-11	12-12-11	Active	NO

Name :	Ms. Shobha Thawani
Designation :	Director
Address :	701, Rendezvous, 120-121, Perry Road, Bandra (West), Mumbai – 400 050, Maharashtra, India
Date of Birth/Age :	26.01.1955
Date of Appointment :	30.06.1987
DIN No.:	00156100

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	U99999MH1987PLC043940	Nimbus Communications Limited	Director	30-06-87	30-06-87	-	Active	NO
2	U92130MH1997PLC111564	Nirvana Television Limited	Director	27-10-97	27-10-97	-	Active	NO
3	U99999MH1999PLC118070	Paramount Corporation Limited	Director	29-01-99	29-01-99	-	Active	NO
4	U92111AP2002PTC039837	Nimbus Motion Pictures (A.P.) Private Limited	Director	30-10-02	30-10-02	-	Active	NO
5	U92130MH2002PTC137963	Nimbus Home Entertainment Private Limited	Director	22-11-02	22-11-02	-	Active	NO
6	U92120MH2007PTC175801	Carnival Entertainment Private Limited	Director	08-11-07	08-11-07	-	Active	NO
7	U92110MH2003PLC142256	Neo Broadcast Limited	Director	29-09-08	13-06-08	-	Active	NO
8	U67120MH2004PTC148853	Zenith Sports Private Limited	Director	06-06-09	06-06-09	-	Active	NO
9	U92400MH2011PTC213530	World Series Hockey Private Limited	Director	14-02-11	14-02-11	-	Active	NO
10	U92412MH2011PTC224811	ProSport Holdings Private Limited	Director	12-12-11	12-12-11	23-01-12	Active	NO

Name :	Dr. Akash Khurana
Designation :	Whole Time Director
Address :	19, Dunhill, Dr. Ambedkar Road, Khar (West), Mumbai – 400 052, Maharashtra, India
Date of Birth/Age :	01.02.1953
Date of Appointment :	06.05.2003
DIN No.:	1220599

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U99999MH1999PLC118070	Paramount Corporation Limited	Director	29-01-99	29-01-99	Active	NO
2	U92130MH1997PLC111564	Nirvana Television Limited	Director	08-11-99	08-11-99	Active	NO
3	U92111AP2002PTC039837	Nimbus Motion Pictures (A.P.) Private Limited	Director	30-10-02	30-10-02	Active	NO
4	U92130MH2002PTC137963	Nimbus Home Entertainment Private Limited	Director	22-11-02	22-11-02	Active	NO
5	U99999MH1987PLC043940	Nimbus Communications Limited	Whole-time director	03-07-08	05-06-03	Active	NO
6	U92110MH2003PLC142256	Neo Broadcast Limited	Director	17-09-03	17-09-03	Active	NO
7	U67120MH2004PTC148853	Zenith Sports Private Limited	Director	28-09-04	28-09-04	Active	NO
8	U92411MH2006PTC160563	Neo Sports Broadcast Private Limited	Director	17-03-06	17-03-06	Active	NO
9	U92120MH2007PTC175801	Carnival Entertainment Private Limited	Director	08-11-07	08-11-07	Active	NO
10	U92400MH2011PTC213530	World Series Hockey Private Limited	Director	14-02-11	14-02-11	Active	NO

Name :	Mr. Supratim Subimal Basu
Designation :	Director
Address :	302, Laxmi Gopal Building, 3^rd Floor, Hatiskar Marg, Prabhadevi, Mumbai -400 025, Maharashtra, India
Date of Birth/Age :	03.02.1970
Date of Appointment :	06.09.2007
DIN No.:	01910081

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	U65993MH2002PTC134679	Frontline Venture Services Private Limited	Director	17-11-06	17-11-06	-	Active	NO
2	U99999MH1987PLC043940	Nimbus Communications Limited	Director	29-09-08	11-01-07	-	Active	NO
3	U85110KA1989PTC010621	Park Controls and Communications Private Limited	Director	18-01-07	18-01-07	12-07-10	Active	NO
4	L31102OR1982PLC001151	Alfa Transformers Limited	Director	28-07-07	28-07-07	-	Active	NO
5	U25200TN2007PTC065726	Shriram Sepl Composites Private Limited	Director	10-06-09	07-03-08	-	Active	NO

Name :	Mr. Rajan Kapur
Designation :	Director
Address :	B-281, Tiwn Towers, Veer Savarkar Marg, Prabhadevi, Mumbai – 400 025, Maharashtra, India
Date of Birth/Age :	25.11.1942
Date of Appointment :	06.09.2007
DIN No.:	00035113

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	L24100MH1969PLC014336	Pidilite Industries Limited	Director	17-10-00	17-10-00	-	Active	NO
2	U74300MH2001PTC134079	Group M Media India Private Limited	Director	29-11-01	29-11-01	-	Active	NO
3	U22219MH1956PTC178274	Bates India Private Limited	Director	15-06-04	15-06-04	-	Active	NO
4	L32300MH1981PLC023637	MIRC Electronics Limited	Director	23-08-04	23-08-04	-	Active	NO
5	U72200DL2004PTC128761	Mindworks Global Media Services Private Limited	Director	23-09-04	23-09-04	16-05-07	Active	NO
6	U92132MH2001NPL132233	Earth Communications Office-India Association	Director	24-09-04	24-09-04	-	Active	NO
7	U32300MH2005PTC156928	Tagit (India) Private Limited	Director	21-10-05	21-10-05	-	Active	NO
8	U72200DL2005PTC140245	Annik Technology Services Private Limited	Director	31-12-05	31-12-05	-	Active	NO
9	U72900DL2006PTC144396	Eon Premedia Private Limited	Director	22-06-06	22-06-06	14-01-11	Active	NO
10	L31909AP1988PLC008652	Mic Electronics Limited	Director	27-12-06	22-08-06	05-02-11	Active	NO
11	L24239MH1944PLC007330	Abbott India Limited	Director	17-04-07	18-09-06	-	Active	NO
12	L28992MH1991PLC168235	Hitech Plast Limited	Director	23-09-06	23-09-06	-	Active	NO
13	U99999MH1987PLC043940	Nimbus Communications Limited	Director	29-09-08	06-09-07	-	Active	NO
14	U74300DL2005PTC134829	Quasar Media Private Limited	Director	30-09-08	02-11-07	-	Active	NO
15	U74999DL1996PTC079884	Sercon India Private Limited	Director	18-12-07	18-12-07	-	Active	NO
16	U74140MH2008PTC177363	Thinking Kaps Consultancy Private Limited	Director	04-01-08	04-01-08	-	Under Process of Striking off	NO
17	U74993KA1999FTC024916	Ray and Keshavan Design Associates Private Limited	Director	18-09-08	18-09-08	-	Active	NO
18	U74900MH2011PTC212449	Global Prayer Desk Private Limited	Director	18-01-11	18-01-11	23-12-11	Active	NO

Name :	Mr. Robin Paxton
Designation :	Director
Address :	23, Lonsdale Road, Barnes, London, United Kingdom - SW139JP
Date of Birth/Age :	14.04.1951
Date of Appointment :	06.09.2007
DIN No.:	01874298

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U99999MH1987PLC043940	Nimbus Communications Limited	Director	29-09-08	06-09-07	Active	NO

Name :	Mr. Richard Dorfman
Designation :	Director
Address :	10, Evelyn Gardens, London, United Kingdom - SW73BG
Date of Birth/Age :	01.01.1952
Date of Appointment :	06.09.2007
DIN No.:	01787931

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U99999MH1987PLC043940	Nimbus Communications Limited	Director	29-09-08	06-09-07	Active	NO

KEY EXECUTIVES

Name :	Mr. Parthasarathy Iyengar
Designation :	Company Secratery
Address :	12/603, Palmgrove C.H.S. Limited, Patliputra Nagar, Mhada Colony, Oshiwara Jogeshwari Link Road, Jogeshwari (West), Mumbai – 400 102, Maharashtra, India
Date of Birth/Age :	16.07.1980
Date of Appointment :	17.05.2010

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.12.2011

Names of Shareholders	No. of shares
Harish Thawani	279581
Shobha Harish Thawani	1057952
Akash Khurana	72800
Sunil Manocha	92600
Uday Sinh Wala	100
Atul Pandy	100
Sudhir Mishra	100
Kallol Sen	100
K. M. Thawaney	1000
K. K. Thawani	1000
D. K. Thawani	1000
Mavis Monteiro	1000
Paramount Corporation Limited, India	12000000
Purshotamdas Naraindas Budhrani	15300
Sudha Commercial Company Limited, India	28000
Sashi Agarwal	7800
Americorp Ventures Limited, India	2142857
3i (Mauritius) Investments 2 Technology Limited, Mauritius	18554819

As on 26.12.2011

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings (Foreign institutional investor(s), Foreign companie(s) Foreign financials institution(s), Non-resident indian(s) or Overseas corporate bodies or Others)	69.73
Bodies corporate	20.27
Directors or relatives of directors	9.60
Other Top fifty (50) shareholders	0.40
Total	100.00

BUSINESS DETAILS

Line of Business :

Company is into business of production of television programming airtime marketing, Sports marketing and services and motion pictures.

GENERAL INFORMATION

No. of Employees :

Not Divulged by the management

Bankers :

· Punjab National Bank, Large Corporate Branch, Maker Tower ‘E’, Ground Floor, Cuffe Parade, Mumbai – 400 005, Maharashtra, India · Punjab National Bank, Large Corporate Branch, Centenary Building, No. 25, M G Road, Bangalore-560001, Karnataka, India · Axis Bank Limited, 209, Ground Floor, Atlanta Buiding, Nariman Point, Mumbai-400021, Maharashtra, India · ICICI Bank UK Limited, 21, Knightsbridge, London-SW1X7LY · Indian Overseas Bank, Andheri (West), Branch, C-201, Waterford Building, Juhu Lane, Andheri (West), Mumbai – 400058, Maharashtra, India · State Bank of Hyderabad, Corporate Finance Barnch, Nariman Point, Mumbai – 400021, Maharashtra, India · The Lakshmi Vilas Bank Limited, Swapna Sadan, Ground Floor, Azad Road, Andheri (East), Mumbai – 400069, Maharashtra, India · Global Trut Bank Limited, M.G. Seva Trust Building, Near National Liberary, S.V. Road, Bandra, Mumbai – 400050, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Loans from Banks	0.143	0.305
Vehicles Loans (Secured against hypothecation of a vehicle)
Short Term from Punjab National Bank	2772.938	2424.467
Short Term Loan from Union Bank of India	1009.982	0.000
Working Capital Loan from Oriental Bank of Commerce	33.458	59.234
Total	3316.522	2484.007
Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Short Term Loans	0.000	2.007
Bank overdraft per Books	0.000	400.000
Others From SREI Infrastructure Finance Limited
Other Loans	0.000	5454.897
From Directors	126.170	126.170
From Others	0.000	24.170
Total	126.170	6017.245

Banking Relations :

--

Auditors :

Name :

Delloitte Haskins and Sells

Chartered Accountant

Address :

12, Dr. Annie Besants Road, Opposite Shiv Sagar Estate, Worli, Mumbai-40018, Maharashtra, India

Associates/Subsidiaries :

· Nimbus Motion Pictures (A.P.) Private Limited

CIN No.: U92111AP2002PTC039837

· Nimbus Home Entertainment Private Limited

CIN No.: U92130MH2002PTC137963

· Nirvana Television Limited

CIN No.: U92130MH1997PLC111564

· Nimbus Communication Worldwide Limited

· Nirvana Adzone Limited

· Nimbus Communications Limited Bvi.

· Nimbus Media Pte. Limited

· Nimbus Sport International Pte. Limited

Joint Ventures :

· Zenith Soprts Private Limited

· NEO Broadcast Limited

CIN No.: U92110MH2003PLC42256

CAPITAL STRUCTURE

As on 26.12.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
95000000	Equity Shares	Rs.10/- each	Rs.950.000 Millions
5000000	Preference Shares	Rs.10/- each	Rs.50.000 Millions
	Total		Rs.1000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
61501870	Equity Shares	Rs.10/- each	Rs.615.018 Millions

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		615.018	328.244	326.064
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		9269.370	2851.297	2761.201
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		9884.388	3179.541	3087.265
LOAN FUNDS
1] Secured Loans		3316.522	2484.007	660.926
2] Unsecured Loans		126.170	6017.245	5788.385
TOTAL BORROWING		3442.692	8501.252	6449.311
DEFERRED TAX LIABILITIES		0.000	89.772	112.120
Stock Option Outstanding		4.243	4.274	5.647
TOTAL		13331.323	11774.839	9654.343
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		510.071	928.952	1130.350
Capital work-in-progress		0.940	0.594	8.733
INVESTMENT		5057.773	4584.549	4584.550
DEFERREX TAX ASSETS		23.643	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	9.111	9.650	8.878
	Sundry Debtors	7648.156	4787.221	2557.386
	Cash & Bank Balances	4227.339	2193.675	1357.668
	Other Current Assets	84.162	32.186	2.043
	Loans & Advances	881.632	609.534	478.285
Total Current Assets		12850.400	7632.266	4404.260
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	2547.382	885.277	469.018
	Sundry Creditors	2448.684	478.266
	Provisions	115.438	9.723	7.149
Total Current Liabilities		5111.504	1373.266	476.167
Net Current Assets		7738.896	6259.000	3928.093
MISCELLANEOUS EXPENSES		0.000	1.744	2.617
TOTAL		13331.323	11774.839	9654.343

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales and Services	7372.785	5627.379	6933.766
		Other Income	123.376	194.086	241.107
		TOTAL (A)	7496.161	5821.465	7174.873
Less	EXPENSES
		Media Right Cost and Telecast Cost	6370.378	4835.899	5775.884
		Production Expenses	61.022	54.886	65.934
		Marketing Expenses	3.269	10.047	14.514
		Payments to and Provision for Employees	60.434	81.863	69.406
		Administrative and Other Expenses	213.907	318.913	118.884
		Increase / Decrease in Air Inventory	0.539	(3.155)	7.684
		TOTAL (B)	6709.549	5298.452	6052.306
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		786.612	523.013	1122.567
Less	FINANCIAL EXPENSES (D)		335.934	260.534	137.285
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		450.678	262.479	985.282
Less/ Add	DEPRECIATION/ AMORTISATION (F)		376.027	217.511	786.832
	PROFIT BEFORE TAX (E-F) (G)		74.651	44.968	198.450
Less	TAX (I)		72.753	22.980	85.206
	PROFIT AFTER TAX (G-I) (J)		1.897	21.988	113.244
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		411.765	389.776	276.532
	BALANCE CARRIED TO THE B/S		413.662	411.765	389.776
	Earnings Per Share (Rs.)		0.03	0.67	1.87

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.02	0.37	1.49
Net Profit Margin (PBT/Sales)	(%)	1.01	0.79	2.69
Return on Total Assets (PBT/Total Assets}	(%)	0.55	0.52	3.59
Return on Investment (ROI) (PBT/Networth)		0.75	0.14	0.06
Debt Equity Ratio (Total Liability/Networth)		0.86	3.10	2.24
Current Ratio (Current Asset/Current Liability)		2.51	5.55	9.25

LOCAL AGENCY FURTHER INFORMATION

FORM 8

Corporate identity number of the company	U99999MH1987PLC043940
Name of the company	NIMBUS COMMUNICATIONS LIMITED
Address of the registered office or of the principal place of business in India of the company	Nimbus Center, Oberoi Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India
This form is for	Creation of charge
Type of charge	Book debts Others
Particular of charge holder	State Bank Of Hyderabad, Corporate Finance Branch, Nariman Point, Mumbai
Nature of instrument creating charge	Trem Loan Agreement, Letter of Hypothecation
Date of instrument Creating the charge	15/07/2011
Amount secured by the charge	Rs. 1250.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest 5.00% above the Base Rate of State Bank of Hyderabad, presently 15% p.a. (floating) payable monthly subject to change from time to time. Terms of repayment Repayable in Four Equal Quaterly Installments of Rs. 125.000 payable after one year rest. Margin NIL Extent and operation of the charge Short Term Corporate Loan of Rs. 500.000 millions Other Hypothecation of all present and future goods, book debts, and all other movable assets of the Company more specifically listed under the head 'Hypothecation of Goods' in the Agreement of Hypothecation of Goods and Assets dated July 15, 2011. Details of properties charged are more particularly detailed out in the Sanction letter attached to the form.
Short particulars of the property charged (Including location of the property)	Hypothecation of all present and future goods, book debts, and all other movable assets of the Company more specifically listed under the head' Hypothecation of Goods' in the Agreement of Hypothecation First charge on the Escrow account to be maintained with our Bank for the receivables from BCCl under an agreement for the supply of equipments for the IPL matches. Second Charge on the BCCl receivables. The company would provide an Escrow Account wherein the receivables from BCCI will be credited. Second charge on the entire present and future fixed assets of the Co Second pari passu charge on Nimbus Center at Oberoi Complex, Mumbai. Exclusive 1st charge by way of Mortgage on flat on ground floor of Kalyan Niwas, Plot No. 30, 3rd Road, Khar (W), Mumbai: 52. Exclusive Mortgage on flat No.712, 7th Floor, 8 wing, Mittal Towers, M.G. Road, Bangalore, Exclusive Mortgage on Flat No. 71 I, 7th Floor, B wing, Mittal Towers, M.G. Road, Bangalore Exclusive Mortgage of the 1st floor of Nimbus Center 'A' owned by Nirvana Television (P) Limited

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.48.68
UK Pound	1	Rs.76.75
Euro	1	Rs.63.57

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	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		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	-

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.