MIRA INFORM REPORT

Report Date :

21.02.2012

IDENTIFICATION DETAILS

Name :	CONCAST BENGAL INDUSTRIES LIMITED
Registered Office :	21, Hemant Basu Sarani, 5^th Floor, Room No.511 and 512, Kolkata – 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	10.04.1995
Com. Reg. No.:	21-071063
Capital Investment / Paid-up Capital :	Rs.142.963 Millions
CIN No.: [Company Identification No.]	U27109WB1995PLC071063
TAN No.: [Tax Deduction & Collection Account No.]	CALC04207A
PAN No.: [Permanent Account No.]	AACCC1876D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Markets of Steel Billets and Sponge Iron.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 6800000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is 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 trdae 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

LOCATIONS

Registered Office :	21, Hemant Basu Sarani, 5^th Floor, Room No.511 and 512, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22130481
Fax No.:	91-33-22130488
E-Mail :	contact.concast@gmail.com sanjay@concastispat.com

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Sanjay Kumar Sureka

Designation :

Director

Address :

28/1, Shakespeare Sarani, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

22.01.1971

Date of Appointment :

01.10.2010

DIN No.:

00218025

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	U51909WB1978PLC031558	SUREKA EXPORTS LIMITED	Director	2/11/1992	2/11/1992	-	Active	NO
2	U27101WB1941PLC010497	CONCAST ISPAT LIMITED	Managing director	1/4/2009	27/09/1999	-	Active	NO
3	U70109WB2002PTC094216	CONCAST INFRASTRACTURE PRIVATE LIMITED	Director	16/04/2010	11/2/2002	-	Active	NO
4	U27109WB1995PLC071063	CONCAST BENGAL INDUSTRIES LIMITED	Director	30/09/2011	12/2/2002	-	Active	NO
5	U15499WB2002PLC094218	ORGANIC GREEN FOODS LIMITED	Director	12/2/2002	12/2/2002	30/04/2009	Active	NO
6	U27109WB1995PLC067953	DANKUNI STEELS LIMITED	Director	10/4/2004	10/4/2004	-	Active	NO
7	U27109WB2004PLC099978	CONCAST ENERGY LIMITED	Director	28/09/2004	28/09/2004	4/5/2009	Active	NO
8	U14108WB2005PTC104298	BANKURA DRI MINING MANUFACTURERS COMPANY PRIVATE LIMITED	Director	27/07/2005	27/07/2005	-	Active	NO
9	U36900WB2006PTC108596	CONCAST BEVERAGES PRIVATE LIMITED	Director	17/03/2006	17/03/2006	-	Active	NO
10	U27106WB1996PLC076334	CONCAST GLOBAL LIMITED	Director	30/09/2011	13/05/2006	-	Active	NO
11	U51909WB2006PLC111597	CONCAST VYAPAAR LIMITED	Director	25/10/2006	25/10/2006	-	Active	NO
12	U27310WB2007PLC118140	CONCAST SHEETS AND TUBES LIMITED	Director	28/08/2007	28/08/2007	4/5/2009	Active	NO
13	U51109WB1990PTC048957	JAI BHOLA TRADING COMPANY PRIVATE LIMITED	Director	14/01/2008	14/01/2008	27/04/2009	Active	NO
14	U51909WB1995PLC072045	CONCAST STEEL AND POWER LIMITED	Managing director	15/07/2009	3/7/2008	-	Active	NO
15	U27100WB2008PTC129844	CONCAST ENGINEERING PRIVATE LIMITED	Director	3/10/2008	3/10/2008	-	Active	NO
16	U51101WB2009PLC132009	CONCAST EXIM LIMITED	Director	15/01/2009	15/01/2009	-	Active	NO
17	U85110WB2009PTC139889	INDO-US HEALTHCARE PRIVATE LIMITED	Director	3/12/2009	3/12/2009	-	Active	NO
18	U40105AR2008PLC008256	SATYAM (NORTH EAST) THERMAL POWER LIMITED	Director	7/1/2010	7/1/2010	-	Active	NO
19	U10102AR2008PLC008257	SATYAM MINING AND MINERALS LIMITED	Director	7/1/2010	7/1/2010	-	Active	NO
20	U11101AR2010PLC008294	SATYAM (NORTH EAST) ENERGY LIMITED	Director	5/3/2010	5/3/2010	-	Active	NO
21	U51101WB2010PTC151974	ROOTSTAR TRADELI NK PRIVATE LIMITED	Director	10/9/2010	10/9/2010	-	Active	NO
22	U45400WB2010PLC153282	CONCAST INFRATECH LIMITED	Director	22/09/2010	22/09/2010	-	Active	NO
23	U67190WB2011PTC158382	CONCAST LEASING AND FINANCE PRIVATE LIMITED	Director	2/2/2011	2/2/2011	-	Active	NO
24	U26922WB2006PTC109915	SWATI UDYOG PRIVATE LIMITED	Director	21/06/2011	15/03/2011	-	Active	NO
25	U41000WB2011PTC160977	CONCAST INDO RUSS WATER PRIVATE LIMITED	Director	21/03/2011	21/03/2011	-	Active	NO
26	U64202WB1995PLC075980	I-WIN ADVISORY SERVICES LIMITED	Director	29/09/2011	2/5/2011	-	Active	NO
27	U51909WB2007PTC118553	SODEPUR COMMERCIAL PRIVATE LIMITED	Director	30/09/2011	1/6/2011	-	Active	NO
28	U45400WB2011PTC170236	CONCAST DAMOH ROAD PROJECT PRIVATE LIMITED	Director	2/12/2011	2/12/2011	-	Active	NO
29	U45203WB2011PTC170728	CONCAST DHANETA ROAD PROJECTS PRIVATE LIMITED	Director	15/12/2011	15/12/2011	-	Active	NO
30	U45400WB2011PTC171198	CONCAST AMBHA ROAD PROJECTS PRIVATE LIMITED	Director	26/12/2011	26/12/2011	-	Active	NO
31	U45203WB2011PTC171173	CONCAST PATAN ROAD PROJECTS PRIVATE LIMITED	Director	26/12/2011	26/12/2011	-	Active	NO
32	U45400WB2011PTC171170	CONCAST JAWASA ROAD PROJECTS PRIVATE LIMITED	Director	26/12/2011	26/12/2011	-	Active	NO
33	U45400WB2012PTC171877	LIFEWOOD PROMOTERS PRIVATE LIMITED	Director	10/1/2012	10/1/2012	-	Active	NO
34	U45400WB2012PTC171876	HARDSOFT PROMOTERS PRIVATE LIMITED	Director	10/1/2012	10/1/2012	-	Active	NO
35	U45400WB2012PTC172398	CONCAST PATH BAMEETHA SATNA ROAD PROJECTS PRIVATE LIMITED	Director	17/01/2012	17/01/2012	-	Active	NO
36	U45400WB2012PTC171878	STARTREE RESIDENCY PRIVATE LIMITED	Director	16/02/2012	16/02/2012	-	Active	NO

Name :

Mr. Arvind Kumar Dalmia

Designation :

Additional Director

Address :

26/C/2, Lake View Road, Kolkata – 700029, Maharashtra, India

Date of Birth/Age :

22.10.1967

Date of Appointment :

21.01.2010

DIN No.:

02919718

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	U27109WB1995PLC067953	DANKUNI STEELS LIMITED	Additional director	21/01/2010	21/01/2010	-	Active	NO
2	U27109WB1995PLC071063	CONCAST BENGAL INDUSTRIES LIMITED	Additional director	21/01/2010	21/01/2010	-	Active	NO
3	U27109WB2004PLC099978	CONCAST ENERGY LIMITED	Director	2/2/2010	2/2/2010	-	Active	NO
4	U70200WB1980PTC032822	KALIGHAT PROPERTIES PRIVATE LIMITED	Additional director	24/03/2010	24/03/2010	26/12/2011	Active	NO
5	U45203WB2007PTC112792	N.K.S. PROJECTS PRIVATE LIMITED	Director	25/08/2010	25/08/2010	-	Active	NO
6	U45203WB2007PTC112790	MATASHREE PROPERTIES PRIVATE LIMITED	Director	30/09/2011	30/05/2011	-	Active	NO
7	U45203WB2007PTC112800	G.N.K.PROPERTIES PRIVATE LIMITED	Director	30/09/2011	30/05/2011	-	Active	NO
8	U45203WB2007PTC112791	N.G.K. PROPERTIES PRIVATE LIMITED	Director	30/09/2011	30/05/2011	-	Active	NO
9	U45203WB2007PTC112744	GANGOUR NIRMAN PRIVATE LIMITED	Director	30/09/2011	30/05/2011	-	Active	NO
10	U45203WB2007PTC112807	TRITIUM PROPERTIES PRIVATE LIMITED.	Director	30/09/2011	30/05/2011	-	Active	NO
11	U51909WB2006PLC111597	CONCAST VYAPAAR LIMITED	Director	30/09/2011	5/9/2011	-	Active	NO
12	U51909WB1978PLC031558	SUREKA EXPORTS LIMITED	Additional director	7/11/2011	7/11/2011	-	Active	NO
13	U27310WB2007PLC118140	CONCAST SHEETS AND TUBES LIMITED	Additional director	27/12/2011	27/12/2011	-	Active	NO

Name :

Mr. Sajjan Kumar Hakim

Designation :

Additional Director

Address :

237/9, G. T. Road, Howrah – 711202, West Bengal, India

Date of Birth/Age :

05.07.1953

Date of Appointment :

28.05.2010

DIN No.:

02323038

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	L51909WB1983PLC035956	RANISATI INDUSTRIES LIMITED	Additional director	1/11/2008	1/11/2008	-	Active	NO
2	U27109WB1994PLC052024	S G STRIPS LIMITED	Director	21/03/2009	21/03/2009	14/11/2009	Active	NO
3	U27109WB1995PLC071063	CONCAST BENGAL INDUSTRIES LIMITED	Additional director	28/05/2010	28/05/2010	25/11/2011	Active	NO
4	U45203WB2007PTC112792	N.K.S. PROJECTS PRIVATE LIMITED	Director	25/08/2010	25/08/2010	-	Active	NO
5	U70200WB1980PTC032822	KALIGHAT PROPERTIES PRIVATE LIMITED	Additional director	25/08/2010	25/08/2010	-	Active	NO
6	U45203WB2007PTC112790	MATASHREE PROPERTIES PRIVATE LIMITED	Director	30/09/2011	30/05/2011	-	Active	NO
7	U45203WB2007PTC112800	G.N.K.PROPERTIES PRIVATE LIMITED	Director	30/09/2011	30/05/2011	-	Active	NO
8	U45203WB2007PTC112791	N.G.K. PROPERTIES PRIVATE LIMITED	Director	30/09/2011	30/05/2011	-	Active	NO
9	U45203WB2007PTC112744	GANGOUR NIRMAN PRIVATE LIMITED	Director	30/09/2011	30/05/2011	-	Active	NO
10	U45203WB2007PTC112807	TRITIUM PROPERTIES PRIVATE LIMITED.	Director	30/09/2011	30/05/2011	-	Active	NO

Name :

Mr. Birendra Kumar Sureka

Designation :

Director

Address :

5, Jadulal Mulick Road, Kolkata – 700006, West Bengal, India

Date of Birth/Age :

17.12.1975

Date of Appointment :

10.01.2011

DIN No.:

01437795

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	U27109WB1993PLC060654	NEO NAISTOCO FORGE LIMITED	Director	10/1/2000	10/1/2000	12/8/2009	Active	NO
2	L51909WB1983PLC035956	RANISATI INDUSTRIES LIMITED	Director	22/03/2007	22/03/2007	26/12/2011	Active	NO
3	U51909WB1978PLC031558	SUREKA EXPORTS LIMITED	Director	10/8/2007	10/8/2007	7/11/2011	Active	NO
4	U27109WB1995PLC071063	CONCAST BENGAL INDUSTRIES LIMITED	Director	10/1/2011	10/1/2011	2/6/2011	Active	NO
5	U51909WB2011PTC164658	WHITEFIELD SUPPLIERS PRIVATE LIMITED	Director	15/07/2011	15/07/2011	-	Active	NO
6	U51909WB2011PTC163365	LUCKYPRIME MERCHANTS PRIVATE LIMITED	Director	15/07/2011	15/07/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Sanjay Kumar Sureka	666920
Deepak Jain	1800
Pawan Kumar Jain	7700
Rakesh Kumar Sharma	10100
Vishnu Agarwal	10100
Samir Roy Choudhary	10100
Bimla Devi Sureka	4000
Sapna Sureka	635549
Sanjay Sureka HUF	4000
Jai Bhola Trading Private Limited, India	10000
SMC Marketing Private Limited, India	22000
Concast Energy Limited, India	3036986
Concast Infrastructure Private Limited, India	1148927
Sodepur Commercial Private Limited, India	1245000
Sanjay Commotrade LLP, India	7460548

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Bodies Corporate	91.63
Directors or relatives of directors	8.13
Other top fifty shareholders	0.24
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Markets of Steel Billets and Sponge Iron.

Products :

Products Description	Item Code No.
Sponge Iron	72031000
Steel Billets	72061009

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India

Industrial Finance Branch, 11 Dr. U. N. Brahmachari street, Kolkata – 700017, West Bengal, India

· Oriental Bank of Commerce

Strand Road Branch, 2, N. C. Dutta Sarani, Kolkata - 700001, West Bengal, India

· UCO Bank

MID Corporate Branch, 2, India Exchange Place, Kolkata – 700001, West Bengal, India

· Allahabad Bank

· Canara Bank

· United Bank of India

Facilities :

Secured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Term Loan from Banks	882.649	533.863
Working capital Loans (Cash Credit)	831.017	678.034
Total	1713.666	1211.897
Unsecured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
From Body Corporate	7.088	4.023
Total	7.088	4.023

Banking Relations :	--
Auditors :
Name :	M. Jain and Associates Chartered Accountant
Address :	Mercantile Building, 9/12, Lal Bazar Street, Block – B, 4^th Floor, Kolkata – 700001, West Bengal, India
PAN No.:	AAGFM9405R
Tel. No.:	91-33-22484936/ 22135583
Fax No.:	91-33-22135583
Email :	mja_cal@yahoo.com
Associates Company :	· Concast Ispat Limited · Concast Exim Limited · Organic Green Foods Limited · Concast Engg. (Private) Limited · SPS Steel and Power Limited · Dankuni Steels Limited · Concast Global Limited · Concast Vyappar Limited · Sureka Exports Limited · Concast Energy Limited · Concast Infrastructure Limited

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
18000000	Equity Share	Rs.10/- each	Rs.180.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16351100	Equity Share	Rs.10/- each	Rs.163.511 Millions

(AS ON 31.03.2010)

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14296300	Equity Share	Rs.10/- each	Rs.142.963 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		142.963	102.663	69.813
2] Share Application Money		512.500	299.435	0.000
3] Reserves & Surplus		1042.338	717.597	475.634
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1697.801	1119.695	545.447
LOAN FUNDS
1] Secured Loans		1713.666	1211.897	545.558
2] Unsecured Loans		7.088	4.023	251.301
TOTAL BORROWING		1720.754	1215.920	796.859
DEFERRED TAX LIABILITIES		35.252	27.269	0.000
TOTAL		3453.807	2362.884	1342.306
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1796.743	1223.968	643.316
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		25.900	0.755	0.755
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	936.193	755.922	460.150
	Sundry Debtors	932.472	617.875	396.521
	Cash & Bank Balances	66.892	58.282	40.601
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	47.838	18.714	26.508
Total Current Assets		1983.395	1450.793	923.780
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	300.954	301.788	172.175
	Other Current Liabilities	37.711	11.692	44.328
	Provisions	17.692	6.692	9.704
Total Current Liabilities		356.357	320.172	226.207
Net Current Assets		1627.038	1130.621	697.573
MISCELLANEOUS EXPENSES		4.126	7.540	0.662
TOTAL		3453.807	2362.884	1342.306

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	5147.870	5093.570	2859.144
		Other Income	5.207	4.073	1.826
		TOTAL (A)	5153.077	5097.643	2860.970
Less	EXPENSES
		Increase/ (Decrease) in Stock	(180.271)	(295.772)	(312.573)
		Purchases	4812.986	4954.531	2824.429
		Manufacturing Expenses	248.495	238.109	193.161
		Administrative and Other Expenses	19.216	17.370	12.628
		TOTAL (B)	4900.426	4914.238	2717.645
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		252.651	183.405	143.325
Less	FINANCIAL EXPENSES (D)		141.408	113.614	47.808
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		111.243	69.791	95.517
Less/ Add	DEPRECIATION/ AMORTISATION (F)		23.513	20.452	19.893
	PROFIT BEFORE TAX (E-F) (G)		87.730	49.339	75.624
Less	TAX (H)		4.790	4.476	30.576
	PROFIT AFTER TAX (G-H) (I)		82.940	44.863	45.048
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		137.619	92.756	47.708
	BALANCE CARRIED TO THE B/S		220.559	137.619	92.756
	EARNINGS IN FOREIGN CURRENCY		79.212	49.408	65.933
	IMPORTS
		Raw Materials and Stores	4.565	89.031	0.000
	TOTAL IMPORTS		4.565	89.031	0.000
	Earnings Per Share (Rs.)		8.07	6.42	10.54

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.61	0.88	1.57
Net Profit Margin (PBT/Sales)	(%)	1.70	0.97	2.64
Return on Total Assets (PBT/Total Assets}	(%)	2.32	1.84	4.83
Return on Investment (ROI) (PBT/Networth)		0.05	0.04	0.14
Debt Equity Ratio (Total Liability/Networth)		1.22	1.37	1.88
Current Ratio (Current Asset/Current Liability)		5.57	4.53	4.08

LOCAL AGENCY FURTHER INFORMATION

CONTINGENT LIABILITIES

Particulars	31.03.2010	31.03.2009	31.03.2008
	(Rs. In Millions)
Bank Guarantee	78.964	9.964	1.000
Total	78.964	9.964	1.000

FORM 8:

Corporate identity number of the company	U27109WB1995PLC071063
Name of the company	CONCAST BENGAL INDUSTRIES LTD
Address of the registered office or of the principal place of business in India of the company	21, Hemant Basu Sarani, 5th Floor, Room No.511 and 512, Kolkata – 700001, West Bengal, India contact.concast@gmail.com
This form is for	Modification of charge
Charge identification number of the modified	10100440
Type of charge	Book Debts Movable Property Floating Charge Others: All other Current and Movable Fixed Assets.
Particular of charge holder	Oriental Bank of Commerce Strand Road Branch, 2, N. C. Dutta Sarani, Kolkata – 700001, West Bengal, India bm0392@obc.co.in
Nature of description of the instrument creating or modifying the charge	Supplemental Agreement to Secure Credit/Loan Facilities - (Loan DOC-13). Agreement of Hypothecation of Assets - (Loan DOC-1).
Date of instrument Creating the charge	09.01.2012
Amount secured by the charge	Rs.240.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash Credit: At 3.25% over Base Rate, present effective rate being 14.00% p.a. with monthly rests. Term Loan: As per existing terms of Sanction. Terms of Repayment Working Capital Limit is repayable on demand. The existing Term Loan of Rs.150.000 Millions is repayable as per existing terms of Sanction Margin As stipulated by the Bank for the respective assets from time to time. Cash Credit : 25% on stock and 30% on Book Debts and Packing Credit/FDBP/FUDBP : 25% Extent and Operation of the charge W.C.- Pari passu first charge on the hypothecated current assets and pari passu second charge on the moveable fixed assets of the company, both present and future. T.L.- Pari passu first charge on the moveable fixed assets and pari passu second charge on the hypothecated current assets of the Company, both present and future. Others The Borrower shall not do or allow anything which may prejudice the security and shall comply with the terms and conditions of the Agreements.
Short particulars of the property charged	W.C.- Pari passu first charge on the hypothecated current assets and pari passu second charge on the moveable fixed assets of the company, both present and future. T.L.- Pari passu first charge on the moveable fixed assets and pari passu second charge on the hypothecated current assets of the Company, both present and future.
Particulars of the present modification	By this modification, the overall limit is enhanced from Rs.150.000 Millions to Rs.240.000 Millions as stated under and charge on hypothecated current assets and movable fixed assets of the Company extended to secure the enhanced overall limit together with interest, costs and charges thereon: Cash Credit : Rs.90.000 Millions Packing Credit/FDBP/FUDBP : (Rs.50.000 Millions) Term Loan : Rs.150.000 Millions All other terms and conditions continue to remain as before in full force and effect.

FIXED ASSETS:

· Land and Development

· Factory Shed and Building

· Plant and Machinery

· Electrical Installation

· Office Equipment

· Office Premises

· Vehicles

· Computers

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.49.21
UK Pound	1	Rs.77.75
Euro	1	Rs.64.58

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	6
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--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		50

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.