MIRA INFORM REPORT

Report Date :

07.02.2012

Tel No.:	91-11-46561359
Fax No.:	91-11-46561358

IDENTIFICATION DETAILS

Name :	S T P LIMITED (w.e.f. 09.01.1985)
Formerly Known As :	SHALIMAR TAR PRODUCTS (1935) LIMITED
Registered Office :	6, Lyons Range, Kolkata – 700 001, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.11.1935
Com. Reg. No.:	21-8423
Capital Investment / Paid-up Capital :	Rs.145.627 Millions
CIN No.: [Company Identification No.]	U23109WB1935PLC008423
TAN No.: [Tax Deduction & Collection Account No.]	CALS00703D
PAN No.: [Permanent Account No.]	AAECS6339M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Construction and Waterproofing Products.
No. of Employees :	210 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 1400000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an old and 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 – 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 PARTED BY

Name :	Mr. Dilip Ghosal
Designation :	Executive Assistant
Contact No.:	91-9350669678
Date :	28.01.2012

LOCATIONS

Registered Office :	6, Lyons Range, Kolkata – 700 001, West Bengal, India
Tel. No.:	91-33-23280022 / 30280022
Mobile No.:	91-9350669678 (Mr. Dilip Ghosal)
Fax No.:	91-33-30280025
E-Mail :	tmlcal@ricmail.com rakesh@stpltd.com tmlcal@airtelmail.in sales@stpltd.com waterproofing@stpltd.com hrd@stpltd.com contactus@stpltd.com
Website :	www.stpltd.com
Location :	Rented
Corporate Office :	3^rd Floor, Farm Bhawan, 14-15, Nehru Place, New Delhi – 110 019, India
Tel. No.:	91-11-46561359
Fax No.:	91-11-46561358
Factory 1 :	Mirzadih Road, P O MGM, Medical Collage, Jamshedpur – 831018, Jharkhand, India
Factory 2 :	55/56, Anand B Developed Plot SIDCO Industrial Estate, Ambtor, Chennai – 600098, Tamilnadu, India
Factory 3 :	Plot No. M – 6 to 9, Cumcolim Industrial Estate, Cuncolim – 403703, Goa, India
Branch Office :	Located At: · Lucknow · Bangalore · Baroda · Chandigarh · Cochin · Secunderabad · Mumbai · Pune · Chennai · Kolkata · Asam
Regional Office:	Located At: · New Delhi · Mumbai · Kolkata · Bangalore

DIRECTORS

As on 14.09.2011

Name :	Mr. Amit Judge
Designation :	Director
Address :	No-65, Panchsheel Park, New Delhi – 110 011, India
Date of Birth/Age :	14.10.1958
Date of Appointment :	29.09.2004
PAN No. :	AACPJ3138Q
DIN No.:	00148854

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	U51109WB1913PLC002404	Turner Morrison Limited	Managing director	01-04-09	30-06-90	-	Active	NO
2	U18101DL1992PLC048003	Sports and Leisure Apparel Limited	Director	13-03-92	13-03-92	-	Active	NO
3	U67120WB1998PLC087739	Akarsh Holdings Limited	Director	17-08-98	17-08-98	-	Dissolved	NO
4	U52399WB1999PLC119990	Bodhi Art Limited	Director	19-11-99	19-11-99	28-05-10	Active	NO
5	U23109WB1935PLC008423	S T P Limited	Director	29-09-04	29-09-04	-	Active	NO
6	U45201WB2000PLC090948	Devbhoomi Awas Limited	Director	16-06-05	16-06-05	-	Active	NO
7	U66010WB1937PLC025131	Bodhi Art Limited	Additional director	27-02-07	27-02-07	-	Dissolved	NO
8	U51109WB2007PLC120044	Homage Estates Limited	Director	06-05-11	06-05-11	-	Active	NO
9	L51909WB1981PLC033770	Caravan Commercial Company Limited	Director	16-08-11	16-08-11	-	Active	NO

Name :	Mr. Krishna Kumar Biyani
Designation :	Director
Address :	15C, Anil Roy Road, Kolkata – 700 029, West Bengal, India
Date of Birth/Age :	01.07.1950
Date of Appointment :	27.09.2005
PAN No. :	AFVPB1894D
DIN No.:	00050096

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	U99999DL1984PLC163934	T.M.Investments Limited	Director	30-08-85	30-08-85	17-07-07	Active	NO
2	U10101WB1920PLC004043	Lodna Colliery (1920) Company Limited	Director	17-06-96	17-06-96	-	Active	NO
3	U22121WB1986PLC041641	Turner Morrison Land Limited	Director	26-09-96	26-09-96	-	Amalgamated	NO
4	U21023WB1986PLC041691	Vasundhara Holdings Limited	Director	28-10-96	28-10-96	-	Active	NO
5	L51909WB1982PLC035102	Sarvamangal Trading Company Limited	Director	24-12-96	24-12-96	-	Active	NO
6	U15432WB1982PLC035251	Skg Fiscals Limited	Director	26-12-96	26-12-96	-	Active	NO
7	U51109WB1941PLC010624	Grahams Trading Co (India) Limited	Director	31-12-96	31-12-96	-	Active	NO
8	U67120WB1986PLC041634	Grahams Investments Limited	Director	31-12-96	31-12-96	-	Active	NO
9	U67120WB1998PLC087739	Akarsh Holdings Limited	Director	17-08-98	17-08-98	-	Dissolved	NO
10	U74899WB1990PLC159670	Tuareg Properties And Securities Services Limited	Director	28-06-01	28-06-01	-	Active	NO
11	U23109WB1935PLC008423	S T P Limited	Director	27-09-05	27-09-05	-	Active	NO
12	U74999WB2011PLC161532	Shalimar Tar Products Limited	Director	06-04-11	06-04-11	-	Active	NO

Name :	Mr. Krishan Prasad Shrivastav
Designation :	Whole Time Director
Address :	1401, Sector 46, NJ, Gurgaon – 122 001, Haryana India
Date of Birth/Age :	02.09.1955
Date of Appointment :	19.06.2003
PAN No. :	ANYPS5602F
DIN No.:	00131298

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	U67120WB1986PLC041634	Grahams Investments Limited	Director	29-09-97	29-09-97	-	Active	NO
2	L51909WB1982PLC035102	Sarvamangal Trading Company Limited	Director	01-03-99	01-03-99	-	Active	NO
3	U45201WB2000PLC090948	Devbhoomi Awas Limited	Director	18-01-00	18-01-00	-	Active	NO
4	L51909WB1981PLC033770	Caravan Commercial Company Limited	Director	22-08-00	22-08-00	-	Active	NO
5	U10101WB1920PLC004043	Lodna Colliery (1920) Company Limited	Director	15-12-00	15-12-00	-	Active	NO
6	U21023WB1986PLC041691	Vasundhara Holdings Limited	Director	15-12-00	15-12-00	-	Active	NO
7	U22121WB1986PLC041641	Turner Morrison Land Limited	Director	29-06-02	29-06-02	-	Amalgamated	NO
8	U72900WB2001PLC119985	Brandquiver Limited	Director	17-03-03	17-03-03	-	Dissolved	NO
9	U23109WB1935PLC008423	S T P Limited	Whole-time director	19-11-10	19-06-03	-	Active	NO
10	U18101DL1992PLC048003	Sports And Leisure Apparel Limited	Director	01-11-04	01-11-04	-	Active	NO
11	U52399WB1999PLC119990	Bodhi Art Limited	Director	01-11-04	01-11-04	05-08-10	Active	NO
12	U74899WB1990PLC159670	Tuareg Properties And Securities Services Limited	Director	11-12-06	11-12-06	-	Active	NO
13	U45400WB2008PTC122688	Ultimate Abasan Private Limited	Director	16-12-09	16-12-09	-	Active	NO
14	U74999WB2011PLC161532	Shalimar Tar Products Limited	Director	06-04-11	06-04-11	-	Active	NO
15	U45400WB2008PTC122833	Diagram Estates Private Limited	Director	24-06-11	24-06-11	-	Active	NO

Name :	Mr. Tarit Kumar Roy
Designation :	Director
Address :	FD-279, Sector III, Salt Lake, Kolkata – 700 091, West Bengal, India
Date of Birth/Age :	04.06.1940
Date of Appointment :	27.06.2009
PAN No. :	ACHPR9450L
DIN No.:	02136114

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	U23109WB1935PLC008423	S T P Limited	Director	27-06-09	07-04-08	Active	NO
2	U74999WB2011PLC161532	Shalimar Tar Products Limited	Director	06-04-11	06-04-11	Active	NO

Name :	Mr. Ranjit Chowdhury
Designation :	Director
Address :	MA-1/6, GC, Garden Estate, Gurgaon - 122 002, Haryana, India
Date of Birth/Age :	25.04.1965
Date of Appointment :	27.06.2009
PAN No. :	AAAPD2583M
DIN No.:	00593019

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	U51109WB1913PLC002404	Turner Morrison Limited	Director	03-06-06	03-06-06	Active	NO
2	U23109WB1935PLC008423	S T P Limited	Director	27-06-09	27-06-09	Active	NO

KEY EXECUTIVES

Name :	Mr. Jai Prakash Kukreja
Designation :	Company Secretary
Address :	D-504, High Flats, Jhulelal Apartments, Road No. 44, Pitampura, Delhi – 110 034, India
Date of Birth/Age :	09.04.1961
Date of Appointment :	18.12.2006
PAN No.:	AAGPK1514M
Name :	Mr. Dilip Ghosal
Designation :	Executive Assistant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Krishna Prasad Shrivastav	450000
Krishna Kumar Biyani	91
Tarit Kumar Roy	90

As on 14.09.2011

Equity Share Breakup	Percentage of Holding
Category
Public Financial Companies	1.16
Nationalised or other Banks	0.01
Foreign Holding (FIIs, FCs, FFIs, NRIs, OCBs, or Others)	0.97
Bodies corporate	92.10
Directors or relatives of directors	3.60
Other top fifty shareholders (other than listed above)	2.16
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Construction and Waterproofing Products.

Products :

Item Code No.:	29,59,28
Product Description	Coal Tar Enamel, Coal Tar Pitch, Water Proofing Felts, Construction Additives and Biumels

· Construction Chemicals

· Bitumen Based Products

· Coal Tar Based Products

· Road Marking Paints and Allied Products

· Waterproofing products

· Epoxy Flooring

Brand Names :

· “TARFELT”,

· “TERAROOF”

· “THERMOLAY”

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS (As on 31.03.2010):-

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Waterproofing Felt	KM	3600.00	3600.00	1475.78
Bitumuls Products -Blown Bitumen -Bitumuls -S.E.Joints	MT MT/KL SQM	5400.00 3000.00 67500.00	5400.00 3000.00 67500.00	683.41 284.451 273.454
Coal Tar Based Products	MT/KL	40750.00	40750.00	349.397
Outerwrap	SQM	3600000.00	3600000.00	63428.247
Construction Chemicals	MT	1175.00	8736.00	2128.12

GENERAL INFORMATION

Customers :

· Wholesalers

· Retailers

No. of Employees :

210 (Approximately)

Bankers :

· ICICI Bank Limited, AJC Bose Road

· State Bank of Hyderabad, Core 6, Scope Complex, Lodhi Road, New Delhi – 110 003, India

· Allahabad Bank, 16, Strand Road, Kolkata, West Bengal, India

· ANZ Grindlays Bank, PLC, H Block, Connaught Place, New Delhi – 110001

· Corporation Bank, New Delhi, India

· Corporation Bank, Ghatkopar Branch, Mumbai

Facilities :

Secured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Rupee term loans banks secured	138.113	93.464
Loans taken for vehicles secured	2.053	2.336
Total	140.166	95.800

Unsecured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Rupee term loans banks unsecured	53.257	47.240
Deposits related parties unsecured	66.000	0.000
Other debt unsecured	0.000	21.175
Interest accrued due debentures unsecured	7.062	3.813
Total	126.319	72.228

Banking Relations :	--
Auditors :
Name :	Lodha and Company Chartered Accountants
Address :	12, Bhagat Singh Marg, New Delhi – 110 001, India
PAN No.:	AABFL1894Q
Memberships :	Confederation of Indian Industry
Holding Company :	Turner Morrison Limited U51109WB1913PLC002404
Fellow Subsidiary Company :	· Turner Morrison Land Limited · Lodna Colliery Company [1920] Limited · Vasundhra Holding Limited · Grahams Investment Limited · Grahams Trading Company India Limited · Tuareg Properties and Security Services Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Devbhoomi Awas Limited · Arcus Limited

CAPITAL STRUCTURE

As on 14.09.2011

Authorised Capital:

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Millions

Issued Capital :

No. of Shares	Type	Value	Amount
14570010	Equity Shares	Rs.10/- each	Rs.145.700 Millions

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14562656	Equity Shares	Rs.10/- each	Rs.145.627 Millions

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		145.627	141.927	141.927
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		202.391	135.991	125.394
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		348.018	277.918	267.321
LOAN FUNDS
1] Secured Loans		140.166	95.800	68.268
2] Unsecured Loans		126.319	72.228	74.292
TOTAL BORROWING		266.485	168.028	142.560
DEFERRED TAX LIABILITIES		4.739	9.138	0.000
TOTAL		619.242	455.084	409.881
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		153.247	86.504	70.739
Capital work-in-progress		15.797	4.911	2.636
INVESTMENT		0.020	0.020	17.098
DEFERREX TAX ASSETS		0.000	0.000	2.572
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	151.599	138.813	163.347
	Sundry Debtors	257.974	163.286	128.271
	Cash & Bank Balances	30.428	55.044	26.114
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	165.550	144.341	135.999
Total Current Assets		605.551	501.484	453.731
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	93.861	87.324	58.016
	Other Current Liabilities	30.279	31.125	63.779
	Provisions	31.233	19.386	15.100
Total Current Liabilities		155.373	137.835	136.895
Net Current Assets		450.178	363.649	316.836
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		619.242	455.084	409.881

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Operating revenue, net	1368.892	991.279	777.663
		Other Income	4.810	8.086	57.490
		TOTAL (A)	1373.702	999.365	835.153
Less	EXPENSES
		Consumption materials changes inventories	942.842	677.190	802.544
		Administrative selling other expenses	333.189	253.816
		Exceptional income expense, net	2.509	13.884
		TOTAL (B)	1278.540	944.890	802.544
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		95.162	54.475	32.609
Less	INTEREST FINANCIAL CHARGES (D)		36.478	21.909	20.234
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		58.684	32.566	12.375
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.054	8.123	5.676
	PROFIT BEFORE TAX (E-F) (G)		50.630	24.443	6.699
Less	TAX (H)		17.530	13.846	3.971
	PROFIT AFTER TAX (G-H) (I)		33.100	10.597	2.728
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		13.491	2.894	0.166
	BALANCE CARRIED TO THE B/S		46.591	13.491	2.894
	EARNINGS IN FOREIGN CURRENCY		NA	0.766	0.000
	IMPORTS
		Raw Materials	NA	8.819	22.255
		Traded Goods	NA	190.180	178.141
	TOTAL IMPORTS		NA	198.999	200.396
	Earnings Per Share (Rs.)		2.27	0.75	0.19

Expected Sales (2011-2012) : Rs.1450.000 millions

The above information has been parted by Mr. Dilip Ghosal

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.41	1.06	0.33
Net Profit Margin (PBT/Sales)	(%)	3.70	2.47	0.86
Return on Total Assets (PBT/Total Assets}	(%)	6.67	4.16	1.28
Return on Investment (ROI) (PBT/Networth)		0.15	0.09	0.03
Debt Equity Ratio (Total Liability/Networth)		1.21	1.10	1.05
Current Ratio (Current Asset/Current Liability)		3.90	3.64	3.31

LOCAL AGENCY FURTHER INFORMATION

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

FUTURE PLAN OF ACTION

· Colour development for flooring and coating

· Elastomeric Ant carbonation coating

· Segmental bridge adhesives

· Moisture sensitive bonding adhesive

· Water based self leveling and waterproofing

· Special Pitch as binder and impregnation

· Water based floor and protective coatings

· PU system for roof water proofing – water and solvent base

· Antifouling Paint for ships and boats

· Low smell and less fumes Coal Tar Enamel

FORM 8

Corporate identity number of the company	U23109WB1935PLC008423
Name of the company	S T P LIMITED
Address of the registered office or of the principal place of business in India of the company	6, Lyons Range, Kolkata – 700 001, West Bengal, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10126985
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Floating charge · Others o Stocks and receivables
Particular of charge holder	State Bank of Hyderabad Core 6, Scope Complex, Lodhi Road, New Delhi – 110 003, India E-Mail : scopecomplex@sbhyd.co.in
Nature of description of the instrument creating or modifying the charge	Form C-1A Agreement of loan for increase in overall limit. Form C-2A Agreement of hypothecation of goods and assets. Form C-5 Letter regarding the grant of Individual limits within the overall limit.
Date of instrument Creating the charge	23.11.2011
Amount secured by the charge	Rs.174.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of interest ROI on CC - 3% above SBH base rate currently at 13.50% p.a. (floating) as against the applicable rate of 18.75%. Bank Guarantee/ Packing Credit/FBD As per extent RBI/HO guidelines. Terms of repayment CC -Working Capital payable on demand Bank Guarantee- Maximum 3 years Letter of credit- one year Margin CC - Raw Material (indigenous/Imported) 25%, Stock in Process 25%, Stores and Spares 25%, Finished Goods 25%, Receivables upto 90 days 25%. Bank Guarantee - 10% (100% for disputed liabilities). Letter of Credit- Inland/Foreign - 20% for ILCs and 10% for FLCs Extent and operation of the charge CC - Hypothecation of all current assets viz., raw materials, consumable, stores and spares, stock in process, finished goods and receivables, present and future. BG/LC - Counter guarantee of the company and charge over current asset and all collateral would cover the bank guarantee and LC limit also Others Hypothecation of plant and machinery and other office equipment present and future. EM of factory land adm 2.34 acres bearing industrial plot no. 55(A+B) and 56(A+B) (NP) and building erceted on the said land situated in survey no. 854/Part, 855 part, 856 Part and 853 Part of Pattravakkam Village at S.N.159 Part, 154 Part, 155 Part, 156 Part169, Industrial estate, Ambattur, Chennai and Pattravakkam Village, Saidapet Taluk, Chennai. Second pari passu charge on fixed assets of Hoogly unit, Kolkata.
Short particulars of the property charged	· EM of factory land and building situated at J.L. No. 137, Khlot No. 3 Khaitan No. 35, Plot No. 281, 530, P.S. Patmada, adm. 17130 sq. yards, Dimna Road, Mirzadih, Mango, Jamshedpur · EM of Factory land and building situated at plot no. M6, M7, M8 and M9 adm 17220 sq meter, Cuncolim Industrial Esate at Conculim, Salcete, Goa · EM of all properties belonging to company on parri passu basis with consortium members
Particulars of the present modification	Renewal cum enhancement in CC limit from existing Rs.80.000 millions to Rs.90.000 millions with EPC/MPD sub-limits at the existing level of Rs.13.000 millions. LC limit from existing Rs.60.000 millions to Rs.70.000 millions. BG limit at the existing level of Rs.14.000 millions Overall limit enhanced from Rs.154.000 millions to Rs.174.000 millions (Overall SBH exposure of Rs.214.000 millions which includes Term Loan of Rs.40.000 millions). Renewal of forward contract limit of Rs.200.000 millions.

FIXED ASSETS

· Land

· Buildings

· Plant and Machinery

· Furniture and Office Equipments and Laboratory

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--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		45

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.