x

1. Summary Information

		Country	India
Company Name	ANUVI CHEMICALS LIMITED	Principal Name 1	Dr. (Mrs.) Kanaklata Krishna Kumar Saxena
Status	Satisfactory	Principal Name 2	Mr. Rajesh Kumar Anandlal Saxena
		Registration #	--
Street Address	205, Narmada, 2^nd Floor, Laxmi Industrial Premises, Pokharan Road No. 1, Vartak Nagar, Thane – 400606, Maharashtra, India
Established Date	26.04.1988	SIC Code	--
Telephone#	91-22-25855400/ 25855379/ 25855434	Business Style 1	Manufacturing
Fax #	91-22-25855714/ 25855435	Business Style 2	Customised Solutions for Various Industries like Paint
Homepage	http://www.anuvichem.com	Product Name 1	Speciality Ecofriendly Products
# of employees	--	Product Name 2	---
Paid up capital	Rs.2,000,000 /-	Product Name 3	----
Shareholders	Directors or relatives of Directors-100%	Banking	The Thane Janata Sahakari Bank Limited
Public Limited Corp.	--	Business Period	23 Years
IPO	---	International Ins.	-
Public Enterprise	---	Rating	Ba (48)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	68,152,000	Current Liabilities	56,466,000
Inventories	30,548,000	Long-term Liabilities	42,631,000
Fixed Assets	15,394,000	Other Liabilities	---
Deferred Assets	806,000	Total Liabilities	99,097,000
Invest& other Assets	188,000	Retained Earnings	13,991,000
		Net Worth	15,991,000
Total Assets	115,088,000	Total Liab. & Equity	115,088,000
Total Assets (Previous Year)	81,969,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Total Income	28,1449,000	Net Profit	3,185,000
Total Income (Previous yr)	186,735,000	Net Profit(Prev.yr)	2,482,000

MIRA INFORM REPORT

Report Date :

27.02.2012

IDENTIFICATION DETAILS

Name :	ANUVI CHEMICALS LIMITED
Registered Office :	205, Narmada, 2^nd Floor, Laxmi Industrial Premises, Pokharan Road No. 1, Vartak Nagar, Thane – 400606, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.04.1988
Com. Reg. No.:	11-47161
Capital Investment / Paid-up Capital :	Rs.2.000 Millions
CIN No.: [Company Identification No.]	U24110MH1988PTC047161
IEC No.:	0391140710
TAN No.: [Tax Deduction & Collection Account No.]	PNEA07414B
PAN No.: [Permanent Account No.]	AAACA1007G/ AAACA10079
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing of Speciality Ecofriendly Products and Customised Solutions for Various Industries like Paint, Non – woven Textiles, Leather, Construction Etc.
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 63000
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 – 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 :	205, Narmada, 2^nd Floor, Laxmi Industrial Premises, Pokharan Road No. 1, Vartak Nagar, Thane – 400606, Maharashtra, India
Tel. No.:	91-22-25855400/ 25855379/ 25855434
Fax No.:	91-22-25855714/ 25855435
E-Mail :	sales@anuvichem.com anuvi@vsnl.com
Website :	http://www.anuvichem.com http://www.anuvi.in http://www.resikon.in
Area :	560 sq ft
Location :	Owned
Factory / Research:	Plot No. W 71 B and Part, MIDC Industrial Area, Badlapur – 421503, District – Thane, Maharashtra, India
Tel. No.:	91-251-2690418
Fax No.:	91-251-2690769
Area :	1382 sq. ft.
Location :	Leased
Sales/ Marketing Office :	G- 212, ‘Godavari’, 2^nd Floor, Laxmi Industrial Premises, Pokhran Road No. 1, Vartak Nagar, Thane 400606, Maharashtra, India
Tel. No.:	91-22-25855400/ 25855714
Area :	560 sq. ft.
Location :	Rented

DIRECTORS

As on 24.09.2011

Name :

Dr. (Mrs.) Kanaklata Krishna Kumar Saxena

Designation :

Managing Director

Address :

25 E/4, Model Town, Balrajeshwar Road, Mulund, Mumbai-400080, Maharashtra, India

Mobile No.: 91-9820055768

Date of Birth/Age :

01.11.1945

Qualification :

M.Sc (Chem), Gold Medalist, Ph.D

Date of Appointment :

26.04.1988

DIN No.:

0048423

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	U25209DL1976PLC008309	HPL ADDITIVES LIMITED	Director	13/10/2005	13/10/2005	6/2/2012	Active	NO
2	U24110MH1988PLC047161	ANUVI CHEMICALS LIMITED	Whole-time director	1/6/2008	1/6/2008	-	Active	NO

Name :

Mr. Rajesh Kumar Anandlal Saxena

Designation :

Whole Time Director

Address :

25 A, Mini Land Tank Road, Bhandup, Mumbai-400078, Maharashtra, India

Date of Birth/Age :

10.10.1942

Qualification :

M.A. (Eco) MSW

Date of Appointment :

26.04.1988

DIN No.:

00144215

Name :

Dr. Krishana Krishna Saxena

Designation :

Whole Time Director

Address :

225 E/4, Model Town, Balrajeshwar Road, Mulund, Mumbai-400080, Maharashtra, India

Date of Birth/Age :

15.08.1939

Qualification :

M.Sc, M.Tech, Ph.D (I.I.T. Kgp)

Date of Appointment :

01.06.2008

DIN No.:

00143968

Name :

Prof. Vinod Chintamani Malshe

Designation :

Whole Time Director

Address :

1, University Staff Quarters, UDCT Campus, Matunga, Mumbai – 400019, Maharashtra, India

Date of Birth/Age :

28.02.1947

Qualification :

M.Sc (Tech), Ph.D (Tech)

Date of Appointment :

14.03.2008

DIN No.:

00642540

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	L23209DL1991PLC219214	INTERLINK PETROLEUM LIMITED	Director	30/06/1998	30/06/1998	13/10/2008	Active	NO
2	U24110MH2000PLC128198	FILTRA CATALYSTS AND CHEMICALS LIMITED	Director	1/9/2001	1/9/2001	-	Active	NO
3	U24100PN2004PLC140957	ALUCHEM INDIA LIMITED	Director	19/09/2004	19/09/2004	30/03/2009	Active	NO
4	U29299PN2005PTC020920	ECOSUSTAIN TECHNOLOGIES PRIVATE LIMITED	Director	23/06/2005	23/06/2005	-	Active	NO
5	U74110PN2006PTC129206	PEERLESS TECHNO-LEGAL SERVICES PRIVATE LIMITED	Director	3/3/2007	3/3/2007	-	Under Process of Striking off	NO
6	U27101MH1986PTC041207	TRANSPARENT TECHNOLOGIES PRIVATE LIMITED	Director	8/7/2007	8/7/2007	-	Active	NO
7	L99999MH1994PLC076236	ASTEC LIFESCIENCES LIMITED	Director	30/09/2008	10/3/2008	-	Active	NO
8	U24110MH1988PLC047161	ANUVI CHEMICALS LIMITED	Whole-time director	1/6/2008	14/03/2008	-	Active	NO
9	U74999MH2008PTC180168	AM OZONICS PRIVATE LIMITED	Director	17/03/2008	17/03/2008	-	Active	NO
10	L25209MH1961PLC012223	RESINS AND PLASTICS LIMITED	Director	23/09/2009	27/01/2009	-	Active	NO

Name :

Dr. Rajan Saxena

Designation :

Director,

Address :

27-A-31, Takshila Apartments, Mahakali Road, Andheri (East), Mumbai – 400093, Maharashtra, India

Date of Birth/Age :

27.10.1949

Date of Appointment :

14.03.2008

DIN No.:

00784698

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	L74899DL1992PLC048460	SOFTWARE TECHNOLOGY GROUP INTERNATIONAL LIMITED	Director	28/04/2000	28/04/2000	31/01/2009	Active	NO
2	U24110MH1988PLC047161	ANUVI CHEMICALS LIMITED	Additional director	14/03/2008	14/03/2008	-	Active	NO
3	U45200MH1995PLC093041	LODHA DEVELOPERS LIMITED	Director	22/09/2009	16/09/2009	24/12/2011	Active	NO
4	U70101MH1994PTC081108	MACROTECH CONSTRUCTIONS PRIVATE LIMITED	Director	20/08/2010	25/09/2009	24/12/2011	Active	NO
5	U99999MH1994PTC076937	LODHA ESTATE P.LTD.	Director	25/08/2010	25/09/2009	21/10/2010	Active	NO
6	U70100MH1985PTC038213	COWTOWN LAND DEVELOPMENT PVT LTD	Director	23/09/2010	25/09/2009	21/10/2010	Active	NO
7	L32101DL1986GOI023501	MAHANAGAR TELEPHONE NIGAM LIMITED	Nominee director	29/03/2010	29/03/2010	-	Active	NO
8	U45201MH2006PTC164295	ADINATH BUILDERS PRIVATE LIMITED	Director	30/09/2011	21/10/2010	24/12/2011	Active	NO
9	U66030MH2006PLC165287	FUTURE GENERALI INDIA INSURANCE COMPANY LIMITED	Director	25/08/2011	15/11/2010	-	Active	NO
10	U66010MH2006PLC165288	FUTURE GENERALI INDIA LIFE INSURANCE COMPANY LIMITED	Director	25/08/2011	15/11/2010	-	Active	NO
11	U80301MH2011NPL219728	NMIMS BUSINESS SCHOOL ALUMNI ASSOCIATION	Director	13/07/2011	13/07/2011	-	Active	NO

Name :

Mr. Vivek Krishna Kumar Saxena

Designation :

Director

Address :

25 E/4, Model Town, Balrajeshwar Road, Mulund (West), Mumbai, India

Date of Birth/Age :

09.06.1971

Qualification :

B.Sc (Hons.), M.M.S. (Marketing), M.M.S. (Finance)

Date of Appointment :

23.03.2007

DIN No.:

01947344

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	U22219MH2007PTC168132	ZIPCASH CARD SERVICES PRIVATE LIMITED	Director	24/02/2007	24/02/2007	-	Active	NO
2	U24110MH1988PLC047161	ANUVI CHEMICALS LIMITED	Director	23/03/2007	23/03/2007	-	Active	NO
3	U72900MH2010PTC198731	RaiseBill Services Private Limited	Director	11/1/2010	11/1/2010	-	Active	NO

Name :

Mrs. Anupriya Jahagirdar

Designation :

Director

Address :

A – 003, Avinash Sanmarg Society, 90 Feet Road, Mulund (East), Mumbai, India

Date of Birth/Age :

26.12.1976

Date of Appointment :

26.09.2009

DIN No.:

02822434

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2011

Names of Shareholders	No. of Shares
Kanaklata K. Saxena	15772
Rajesh Kumar A. Saxena	3592
Krishna Kumar Saxena	627
Sonal Vivek Saxena	2
Anupriya Amol	2
Comdr Amol Santosh Jahagirdar, Mumbai	02
Vivek Krishnakumar Saxena	02
Total	19999

As on 28.12.2011

Names of Allottees	No. of Allotted
Kanaklata K. Saxena	78860
Rajesh Kumar A. Saxena	17960
Krishna Kumar Saxena	3135
Sonal Vivek Saxena	10
Anupriya Amol Jahagirder	10
Comdr Amol Santosh Jahagirdar, Mumbai	10
Vivek Krishnakumar Saxena	10
Total	99995

As on 24.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Speciality Ecofriendly Products and Customised Solutions for Various Industries like Paint, Non – woven Textiles, Leather, Construction Etc.

Products :

Item Code No.	Product / Service Description
3906.9090 3905.9090	Resin emulsions and chemicals for Paints, ink, paper, textiles Leather and Construction Industry

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Actual Production
Net off Capital Consumption	Kg	4991968

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

The Thane Janata Sahakari Bank Limited, Dindayal Bhavan, Jambi Naka, Thana – 400601, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Term Loan (Secured against Hypothecation of Plant and Machinery and personal guarantee of 2 directors)	2.309	1.654
Vehicle Loan (Secured against Hypothecation of Car and personal guarantee of directors )	0.201	0.813
Packing Credit Loan (Secured Against Hypothecation of Stock and personal guarantee of 3 directors)	10.000	6.300
Bank Cash Credit (Secured against Hypothecation of Sundry Debtors and Stock and personal guarantee of 3 directors)	29.821	9.217
Total	42.331	17.984
Secured Loan	As on 31.03.2011	As on 31.03.2010
Loans From Share Holders / Directors	0.300	0.300
Total	0.300	0.300

Banking Relations :	---
Auditors :
Name :	Desai Saksena and Associates Chartered Accountants
Address :	1^st Floor, Laxmi Building, Sir P. M. Road, Fort, Mumbai-400001, Maharashtra, India
Tel. No.:	91-22-66261600 / 66261615
Fax No.:	91-22-66261617
E-Mail :	dsacas@eth.net contact@dsaca.co.in
Website:	http://www.dsaca.co.in
PAN. No:	AABFD6281B

CAPITAL STRUCTURE

As on 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.100/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
119994	Equity Shares	Rs.100/- each	Rs.11.999 millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.100/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
19999	Equity Shares	Rs.100/- each	Rs.2.000 millions

Note

Out of which 14798(Previous Year 8001 equity shares of Rs.100/ each have been issued for consideration other wise than cash

Add: Transferred from Reserve& Surplus issued Nil (Previous Year 11998) bonus shares of Rs.100/-each for consideration other than cash.

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		2.000	2.000	0.800
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		13.991	10.806	9.523
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		15.991	12.806	10.323
LOAN FUNDS
1] Secured Loans		42.331	17.984	18.629
2] Unsecured Loans		0.300	0.300	0.300
TOTAL BORROWING		42.631	18.284	18.929
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		58.622	31.090	29.252
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		15.394	13.782	12.894
Capital work-in-progress		0.100	0.043	0.298
INVESTMENT		0.088	0.088	0.088
DEFERREX TAX ASSETS		0.806	0.809	0.732
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	30.548	20.264	14.858
	Sundry Debtors	51.639	32.671	28.360
	Cash & Bank Balances	3.909	4.456	5.660
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	12.604	9.856	6.348
Total Current Assets		98.700	67.247	55.226
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.425	0.386	0.375
	Other Current Liabilities	51.177	45.119	35.502
	Provisions	4.864	5.374	4.109
Total Current Liabilities		56.466	50.879	39.986
Net Current Assets		42.234	16.368	15.240
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		58.622	31.090	29.252

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	279.288	186.735	146.560
		Other Income	2.160	0.702	1.118
		TOTAL	281.448	187.437	147.678
Less	EXPENSES
		Increase / Decrease in stock	1.029	(4.411)	2.154
		Direct Expenses	0.000	6.890	5.739
		Manufacturing and Other Expenses	243.125	149.934	113.023
		Employees Remuneration	8.625	7.762	6.945
		Office and Administrative Expenses	4.732	4.439	3.073
		Selling and Distribution Expenses	9.497	11.622	8.200
		TOTAL	267.008	176.236	139.134
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		14.440	11.201	8.544
Less	FINANCIAL EXPENSES		6.716	5.258	5.080
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		7.724	5.943	3.464
Less/ Add	DEPRECIATION/ AMORTISATION		2.643	2.489	2.737
	PROFIT BEFORE TAX		5.081	3.454	0.727
Less	TAX		1.896	0.972	0.347
	PROFIT AFTER TAX		3.185	2.482	0.380
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		10.806	9.523	9.142
	BALANCE CARRIED TO THE B/S		13.991	12.005	9.523
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	30.468	31.750	NA
	TOTAL EARNINGS		30.468	31.750	NA
	IMPORTS
		Raw Materials	77.226	34.989	NA
	TOTAL IMPORTS		77.226	34.989	NA
	Earnings Per Share (Rs.)		159.13	175.48	47.59

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.131	1.32	0.25
Net Profit Margin (PBT/Sales)	(%)	1.82	1.84	0.49
Return on Total Assets (PBT/Total Assets}	(%)	4.45	5.13	1.31
Return on Investment (ROI) (PBT/Networth)		0.32	0.26	0.07
Debt Equity Ratio (Total Liability/Networth)		6.20	5.40	5.71
Current Ratio (Current Asset/Current Liability)		1.75	1.32	1.38

LOCAL AGENCY FURTHER INFORMATION

Operations:

The performance of the company for the year, though satisfactory was lower than targets for the year. Production increased by over 15% in volume and by 49.54% in value. This was possible due to increase in the selling price. Profit before tax jumped by 47% while profit after tax only by 28%. The exports were done both directly and through merchant exporters. Over all exports grew but direct exports saw little decline. International prices of emulsions had gone down and ANUVI'S products became uncompetitive. Sales of products from ceramic industry considerably improved. New products for detergent industry are under evaluation and we hope that these products will be under trial in the market in 3^rd and 4^th quarter of 2011.

Contingent Liabilities:

Rs. In Millions

Particular	31.03.2011	31.03.2010
Income Tax (net of Paymnt)	0.144	0.144

Form 8

Corporate identity number of the company	U24110MH1988PLC047161
Name of the company	ANUVI CHEMICALS LIMITED
Address of the registered office or of the principal place of business in India of the company	205, Narmada, 2nd Floor,Laxmi Industrial Premises Pokharan Road No.1, Vartak Nagar, Thane – 400606, Maharashtra, INDIA anuvi@vsnl.com
This form is for	Modification of Charge
Charge identification (ID) number of the charge to be modified	10123221
Type of charge	Book Debts Movable Property
Particular of charge holder	The Thane Janata Sahakari Bank Limited, Dindayal Bhavan, Jambli Naka, Thane – 400601, Maharashtra, India pravin.rane@thanejanata.co.in
Nature of instrument creating charge	Hypothecation Of Goods, Plant & Machinery and Debts
Date of instrument Creating the charge	08.03.2010
Amount secured by the charge	Rs.30.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Commission as per Bank Rules Terms of Repayment: Sanctioned for a period of 12 months Margin: 10% Margin in FDR and 90% against stocks and book debts. Extent and Operation of the charge: The charge operates as security for due payment of the amount under letter of credit opened under the L/C limit sanctioned by the bank. Others: as per the hypothecation agreements dated 08.03.2010
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Stocks of finished goods, semi finished goods, raw materials, stores and spares, plant & machinery, machinery stores, spares and accessories, book debts.
Date of instrument modifying the charge	10.06.2009
Particulars of the present modification	By the modification, the letter of credit limit enhanced by Rs.10.000 Millions from Rs.20.000 Millions to Rs.30.000 Millions

FIXED ASSETS:

• Lease hold Land
• Factory Premises
• Office Equipment
• Plant and Machinery
• Vehicles
• Furniture and Fixtures
• Computer
• Laboratory Equipments
• Electrical Fittings
• Air Conditioner
• Fire Extinguisher

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.49.07
UK Pound	1	Rs.77.18
Euro	1	Rs.65.57

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	7
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		49

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

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

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

RATING EXPLANATIONS

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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