MIRA INFORM REPORT

Report Date :

11.01.2012

IDENTIFICATION DETAILS

Name :	SUGAL AND DAMANI UTILITY SERVICES PRIVATE LIMITED
Registered Office :	6/35, W.E.A., Karol Bagh, New Delhi – 110 005
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.05.2004
Com. Reg. No.:	55-126600
Capital Investment / Paid-up Capital :	Rs.9.100 millions
CIN No.: [Company Identification No.]	U74999DL2004PTC126600
PAN No.: [Permanent Account No.]	AAICS2274B
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in e-trading of goods and services.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 71000
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

INFORMATION PARTED BY

Name :	Ms. Jyoti Sharma
Designation :	Manager
Contact No.:	91-11-43758800
Date :	11.01.2012

LOCATIONS

Registered Office / Head Office :	6/35, W.E.A., Karol Bagh, New Delhi – 110 005, India
Tel. No.:	91-11-43758800/ 43758882
Fax No.:	91-11-43758886
E-Mail :	maheshjagmohan@gmail.com contact@payworldindia.com
Website :	http://www.payworldindia.com
Location :	Owned
Branch Office :	Located at: v Delhi and NCR v Ludhiana v Rajasthan v Uttar Pradesh (West) v Lucknow, Uttar Pradesh (East) v Indore v Haryana v Ahmedabad v Mumbai v Pune v Kolkata v Jharkhand v Assam v Patna v Hyderabad v Bangalore v Chennai v Kerala

DIRECTORS

Name :

Mr. Kishor Kantilal Ajmera

Designation :

Director

Address :

34/29, Old Rajinder Nagar, New Delhi - 110 060, India

Date of Appointment :

20.07.2005

DIN No.:

00050005

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	U74999HR2003PTC035020	Peoples Online Lottery Private Limited	Director	20-08-04	20-08-04	-	Active	NO
2	U51109TN1991PTC020387	Skill Lotto Solutions Private Limited	Whole-time director	01-10-04	01-10-04	16-02-08	Active	NO
3	U74999DL2004PTC126600	Sugal and Damani Utility Services Private Limited	Director	20-07-05	20-07-05	-	Active	NO
4	U74120DL2008PTC174527	Shruti Business Enterprises Private Limited	Director	26-02-08	26-02-08	-	Active	NO
5	U72900DL2008PTC175366	Skilrock Technologies Private Limited	Director	14-03-08	14-03-08	-	Active	NO
6	U74999TN2008PTC067093	Summit Online Trade Solutions Private Limited	Director	28-03-08	28-03-08	-	Active	NO

Name :

Mr. Prasan Chand Jain

Designation :

Director

Address :

SNEH-40/9, East Patel Nagar, New Delhi, New Delhi – 110 008, India

Date of Appointment :

26.05.2004

DIN No.:

00050081

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	U63040TN1991PTC021074	Sugal Tourism Development Private Limited	Director	05-07-91	05-07-91	-	Active	NO
2	U93090TN1993PTC034989	Swaraj Promoters Private Limited	Director	14-12-93	14-12-93	25-04-07	Active	NO
3	U01409TN1994PTC028371	SDN Farm Developers Private Limited	Director	22-08-94	22-08-94	30-10-08	Active	NO
4	U05001TN1994PTC028366	Sugal and Damani Agro Farms Private Limited	Director	22-08-94	22-08-94	30-10-08	Active	NO
5	U55101TN1994PTC028384	SDN Housing and Resorts Private Limited	Director	23-08-94	23-08-94	30-10-08	Active	NO
6	U01409TN1995PLC030565	SDN Agro Farms Limited	Director	17-03-95	17-03-95	-	Active	NO
7	U65993TN1995PLC031430	Sugal and Damani (Chennai) Share Broking Limited	Director	01-07-97	01-07-97	-	Amalgamated	NO
8	U72900DL2000PTC103340	Sugal Infotech Private Limited	Director	19-01-00	19-01-00	-	Active	NO
9	U45309KA2001PTC028660	Ansu Builders Private Limited	Director	30-01-02	30-01-02	-	Active	NO
10	U74999HR2003PTC035020	Peoples Online Lottery Private Limited	Director	17-01-03	17-01-03	-	Active	NO
11	U45201TN2003PTC050279	Ankur Foundations Private Limited	Director	03-02-03	03-02-03	-	Active	NO
12	U74999DL2004PTC126600	Sugal and Damani Utility Services Private Limited	Director	26-05-04	26-05-04	-	Active	NO
13	U51109TN1991PTC020387	Skill Lotto Solutions Private Limited	Whole-time director	08-06-04	08-06-04	-	Active	NO
14	U72200TN2000PTC045376	Steadfast Solutions Private Limited	Director	29-04-05	29-04-05	-	Active	NO
15	U63022TN2005PTC057820	Srishti Warehousing Private Limited	Director	14-10-05	14-10-05	05-12-09	Active	NO
16	U45200TN2005PTC057819	Snazzy Properties Private Limited	Director	14-10-05	14-10-05	05-12-09	Active	NO
17	U67190TN1995PTC030346	Padmavathi Developers Private Limited	Director	23-11-05	23-11-05	05-12-09	Active	NO
18	U72900MH2005PTC154979	Mac Solutions Private Limited	Director	09-01-06	09-01-06	31-03-07	Active	NO
19	U65993TN2008PTC066062	Siyat Holdings Private Limited	Director	14-01-08	14-01-08	09-08-08	Active	NO
20	U72900DL2008PTC175366	Skilrock Technologies Private Limited	Director	14-03-08	14-03-08	-	Active	NO
21	U74999TN2008PTC067093	Summit Online Trade Solutions Private Limited	Director	28-03-08	28-03-08	30-04-08	Active	NO
22	U45200TN2008PTC067099	Siyat Property Private Limited	Director	29-03-08	29-03-08	05-12-09	Active	NO
23	U45200TN2008PTC067100	Singhvi Property Private Limited	Director	29-03-08	29-03-08	05-12-09	Active	NO
24	U45400DL2008PTC177233	Spine Properties Private Limited	Director	30-09-09	16-01-09	10-11-09	Active	NO
25	U45204TN2009PTC072174	Singhvi Foundations Private Limited	Director	06-07-09	06-07-09	14-12-09	Active	NO
26	U45206TN2009PTC072614	Sandiya Foundations (Chennai) Private Limited	Director	30-09-10	22-09-09	-	Active	NO
27	L65991TN1993PLC028228	Sugal and Damani Share Brokers Limited	Director	30-07-11	28-07-10	-	Active	NO

Name :

Mr. Kamlesh Vijay

Designation :

Director

Address :

116-B.Pocket-B,, Mayur Vihar Phase-II, Delhi, 110 091, India

Date of Appointment :

26.05.2004

Other Directorship :

Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation
Sugal and Damani Utility Services Private Limited	Director	26-05-04	26-05-04	-
Mac Solutions Private Limited	Director	09-01-06	09-01-06	21-08-10
Skill Lotto Solutions Private Limited	Whole-time director	30-09-08	16-02-08	-
Skilrock Technologies Private Limited	Additional director	15-05-10	15-05-10	-

KEY EXECUTIVES

Name :	Ms. Jyoti Sharma
Designation :	Manager
Name :	Mr. Praveen Dhabhai
Designation :	Chief Operating Officer
Name :	Ms. Preeti Sharma
Designation :	Head - Business Development
Name :	Mr. Sameer Sehgal
Designation :	Head – Sales and Operations
Name :	Mrs. Parul Jain
Designation :	Head - Finance
Name :	Mr. Pramod Jain
Designation :	Chief Idea Officer
Name :	Ms. Shruti Ajmera
Designation :	Head - Strategic Initiatives

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

NOT AVAILABLE

BUSINESS DETAILS

Line of Business :	The company is engaged in e-trading of goods and services.
Brand Names :	“PAYWORLD”
Terms :
Selling :	Cash and Credit (30 days)
Purchasing :	Cash and Credit (30 days)

GENERAL INFORMATION

Customers :

Retailers, End Users and Others

No. of Employees :

200 (Approximately)

Bankers :

HDFC Bank Limited, Delhi, India

Facilities :

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Other debt unsecured	57.500	60.000
Total	57.500	60.000

Banking Relations :	--
Auditors :
Name :	Mahesh Jagmohan and Company Chartered Accountants (Mahesh Kumar Agrawal)
Address :	2161/61, IInd Floor, Naiwala, Karol Bagh, New Delhi – 110 005, India
Tel. No.:	91-11-28753577, 28753174
Fax No.:	91-11-28753174
PAN No.:	AADPA2997D
Parent / Holding Company :	v Skill Lotto Solutions Private Limited (Thane) v Skill Lotto Solutions Private Limited (Mumbai) v Skill Lotto Solutions Private Limited (Chennai)
Related Parties :	v Sugal and Damani Enterprises Private Limited-Ludhiana v Sugal and Damani Enterprises Private Limited-Pune v Sugal and Damani Enterprises Private Limited-Chennai v Serenity Trades Private Limited
Group Companies :	v Summit Online Trade Solutions (Private) Limited v Skill Lotto Solutions (Private) Limited v Sugal Tourism Development (P) Limited v Sugal Travels (Private) Limited v Sugal and Damani Share Brokers Limited v Sugal Commodity Brokers (Private) Limited v Sugal and Damani Diamonds (Private) Limited v Swati Sales and Services (Private) Limited v Swati Energy and Projects (Private) Limited v Scope Promoters (Private) Limited v Swagat Promoters (Private) Limited v Skilrock Technologies (Private) Limited v S and D Foundations (Private) Limited v Swastik Developers (Private) Limited v Sugal and Damani Agricare (Private) Limited v Smart Payment Solutions (Private) Limited (CIN No.: U74140DL2008PTC177343) v Sugal Infotech (Private) Limited v Sugal Finance (Private) Limited OVERSEAS v Winlot Global Resources Limited v Winlot Zambia Limited v Winlot Kenya Limited v Winlot Tanzania Limited v Sugal and Damani UK Limited v Skill Infra Solutions BVIO

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1010000	Equity Shares	Rs.10/- each	Rs.10.100 millions

Issued, Subscribed and Paid-up Capital :

No. of Shares	Type	Value	Amount
910000	Equity Shares	Rs.10/- each	Rs.9.100 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		9.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		8.678	11.599
4] (Accumulated Losses)		0.000	0.000
NETWORTH		17.778	11.699
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		57.500	60.000
TOTAL BORROWING		57.500	60.000
DEFERRED TAX LIABILITIES		0.200	0.125
TOTAL		75.478	71.824
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.352	1.476
Capital work-in-progress		0.000	0.000
INVESTMENT		10.000	10.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	45.749	30.147
	Sundry Debtors	14.404	21.359
	Cash & Bank Balances	41.903	34.593
	Other Current Assets	0.424	0.380
	Loans & Advances	44.648	54.818
Total Current Assets		147.128	141.297
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.405	1.687
	Other Current Liabilities	73.350	74.886
	Provisions	6.441	4.450
Total Current Liabilities		83.196	81.023
Net Current Assets		63.932	60.274
MISCELLANEOUS EXPENSES		0.194	0.074
TOTAL		75.478	71.824

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	3903.647	2607.455
		Other Income
		TOTAL	3903.647	2607.455
Less	EXPENSES
		Office Expenses	3892.679	2594.079
		Administrative Expenses
		Advertising Expenses
		TOTAL	3892.679	2594.079
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		10.968	13.376
Less/ Add	DEPRECIATION/ AMORTISATION		0.497	0.546
	PROFIT BEFORE TAX		10.471	12.830
Less	TAX		4.285	4.413
	PROFIT AFTER TAX		6.186	8.417
Less	APPROPRIATIONS
		Proposed Dividend	0.091	0.100
		Corporate Dividend Tax	0.015	0.017
		General Reserve	0.010	0.010
	BALANCE CARRIED TO THE B/S		6.070	8.290
	Earnings Per Share (Rs.)		6.80	9.25

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	0.16	0.32
Return on Total Assets (PBT/Total Assets}	(%)	7.05	8.99
Return on Investment (ROI) (PBT/Networth)		0.59	1.10
Debt Equity Ratio (Total Liability/Networth)		7.91	12.05
Current Ratio (Current Asset/Current Liability)		1.77	1.74

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	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 three years	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	No
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	----------------------
22) Litigations that the firm / promoter involved in	----------------------
23) Banking Details	Yes
24) Banking facility details	No
25) Conduct of the banking account	----------------------
26) Buyer visit details	----------------------
27) Financials, if provided	Yes
28) Incorporation details, if applicable	----------------------
29) Last accounts filed at ROC	----------------------
30) Major Shareholders, if available	----------------------

FINANCIAL PERFORMANCE:

During the year, the gross turnover of the Company increased by 50.35% from Rs.2632.800 millions to Rs.3958.500 millions. The increase in turnover was primarily due to increase in the retail touch points and also on account of addition of more services.

FUTURE OUTLOOK:

The Company has been evaluating various options for expansion / diversification. The Directors consider that efforts will enable the company to turn in a substantially better performance during the current Year.

CONTINGENT LIABILITIES (As on 31.03.2011):

Detail of Guarantee given-

v Bank Guarantee - Rs.8.500 millions

FIXED ASSETS:

Tangible Assets:

v Land

v Office Equipments

v Computer Equipments

v Furniture and Fixtures

Intangible Assets:

v Goodwill

v Knowhow

WEBSITE DETAILS:

CORPORATE PROFILE:

The techno-creative excellence of Sugal and Damani Group of companies has given birth to PayWorld which is India’s largest E-pin distributor and aggregator. Founded by two visionary entrepreneurs Sri N. Sugalchand Jain and Sri G.N. Damani, the GROUP boasts of a successful and ever-growing track record of more than 4 decades and a Group Turn-over exceeding Rs.70000.000 millions.

Sugal and Damani Group have their vast presence in the arena of Online Services, Lottery, Engineering, Technical Education, Share Trading, Real Estate, Hospitality and Jewelry. And, the farsighted ideas and the capability to think and look beyond the horizon inspired the promoters to venture into the innovative world of electronic voucher distribution system with the creation of Sugal and Damani Utilities Services Private Limited, under which patronage PayWorld has been enjoying a status of a national brand.

In 2007, Sugal and Damani Utilities Services Private Limited started functioning as an operationally independent entity from its parent company, and the world witnessed first time the convenience and liberty of prepaid top-ups and recharges with PayWorld hitting the commercial business space.

Today, PayWorld has established itself as a pan-India operation bringing various electronic voucher distribution systems to its fold and simplifying lives of millions, and hence fulfilling the objective, “Making Life Simple.” PayWorld, with its core objective of simplifying people’s lives, brings forth several spectacular and efficient online services which include:

v Prepaid recharges

v Bill collection

v Online reservation

v Loyalty programs

v Online financial transaction

Enjoying the status of a leading service provider in a Single Point online recharge services, PayWorld has its bold presence in as many 18 states of India with more than 30,000 Retail Touch Points Pan-India. The number keeps growing everyday and more and more people are showing interests to embrace this techno-movement bringing convenience to their lives. PayWorld is committed to simplifying people’s lives and various other innovatively designed services are soon going to add to its list.

Ideation and innovation has always been a success mantra at PayWorld which it maintains through its two state-of-the-art development centers where dedicated teams of professionals, experts and researchers work in tandem to develop what they call cutting-edge technological solutions. All of these units are ISO 9001:2000 certified and the company is in the process of bagging CMMI level status in quality.

The long list of service provider brands associated with PayWorld itself unfolds the story of its quality, efficiency and professionalism. Some of the leading brands that have trusted them and joined them as partners to success are BSNL, Vodafone, Airtel, IDEA, LOOP, MTNL, Aircel, Reliance, TATA, Tata Sky, Dish TV, Sun TV, Big TV, Airtel TV. Many new names are joining this pan-India movement of offering convenience and liberty to people.

PayWorld has strengthened its pan-India business through its proactive technological developments and timely services delivery. PayWorld has developed a niche when it comes to deliver single window for all services through the interactive Electronic Platform, thereby offering hassle-free anytime anywhere bouquet of services and convenience to the intermediaries as well as the end-users. And now, PayWorld is going to enter the Global market by offering end-to-end industry-specific solutions to various overseas entrepreneurs and help them establish an ever-expanding business proposition in their respective nations.

Mile Stones
Beta Testing of PayWorld System	August 2006
Commercial launch of Mobile e-pins distribution	December 2006
Commercial Launch of TV recharge	June 2007
Flexi recharge – Direct Top up for Mobile recharges launched	August 2007
Reservation services Launched ( Air, Bus, Rail )	October 2008
Service Tie up with National E- Governance Program Partners	January 2008
Services Launched with Alternate Channel Partners	March 2008
PW services on Mobile launched	March 2009
Ranked amongst Top Five sales performer in IRCTC API/WS sale group	August 2009

MANAGEMENT TEAM:

At PayWorld, technology meets creativity when dynamic members of its management team put together their knowledge, expertise and more importantly the desire to deliver the best. The luminaries, carrying varied degree of experience and proficiency, adorning PayWorld’s board of management are:

Promoters

Mr. Prasan Chand Jain – Director

Mr. Kishor K. Ajmera – Director

Mr. Kamlesh Vijay - Director

Core Management Team

Mr. Praveen Dhabhai, Chief Operating Officer

Praveen can be best characterized by his penchant for technological innovations which can be very much witnessed with PayWorld’s superb service and delivery mechanism. More than 18 years of experience in Information Technology and Telecom industries has translated him into a professional who can be credited for any technological evolution aiding to the growth and development of the business.

An engineering graduate from BITS Pilani, Praveen has worked with E-Charge and initiated electronic distribution of Pre-Paid Products in India, the experience that very much sufficed to write the success story of PayWorld.

Beside technical superiority, Praveen also carries varied level of exposure in channel development, tie ups with retail chains and implementing various business models for electronic distribution. His business acumen has helped PayWorld to spread across the country in such a short span of time. In coming years, Praveen’s endeavors would be instrumental in taking PayWorld to every nook and corner of the country and even beyond frontiers to a far-off terrain.  

Ms. Preeti Sharma, Head - Business Development

Preeti’s dynamism, foresightedness and business development mechanism can be credited to PayWorld’s ongoing success saga. Preeti, a hard core Management Professional, has wonderfully chalked out the route map on which PayWorld is moving forth and is all set to touch the horizon.

Preeti’s proficiency and expertise can be analyzed by her over 11 years of experience in various service industries such as Pharmaceutical, Freight Forwarding, Banking and Couriers. Prior to joining PayWorld she has worked with the leading Courier and Cargo Company DHL, and has immense experience of handling Key and Corporate customers.

The same level of dynamism and efficiency Preeti has been showcasing while paving the path of success for PayWorld and bringing more and more service providers to its gambit and taking PayWorld to geographically distinct lands. 

Mr. Sameer Sehgal, Head – Sales and Operations

Joining PayWorld in 2005, Sameer is instrumental in PayWorld’s 18-state bold presence with 30,000 retail touch points, the number which has been growing bringing credibility to his proficiency and skill.

Sameer, a Management Professional, with his vast experience in the field of FMCG and Retail Industry, brings Sales expertise, Channel development and Operational experience in starting a success story of PayWorld. Prior to joining PayWorld, he was associated with Pepsi Company and Hindustan Uni-lever Limited and at PayWorld his prior experiences come handy in ideation and implementation of operations and channel development programs. His strong sales domain synergizes and demonstrates in cementing continuous business growth of company.  

Mrs. Parul Jain, Head - Finance

A Chartered Accountant (CA) by profession and with her Post Graduation in Business Management from XIMB, Bhuveneshwar, Parul is the key person at PayWorld in managing finances and optimizing resources availability to various departments of the company and thus sufficing as well as fuelling the growth pattern.

She joined PayWorld in Jan 2005 and since then she has been demonstrating her vision and aptitude in handling finances beside taking care of revenue assurance and process implementation of the company. 

Mr. Pramod Jain, Chief Idea Officer

The young dynamic face of PayWorld, Pramod is a man full of innovative ideas. A Bachelor in Business Management from Jain College CMS (Center for Management Studies), Bangalore, he is the key person at PayWorld when it comes to exploring new ideas and shape the future trends of the company after keenly observing the market conditions, consumer preferences and ongoing developments.

Pramod has always been instrumental in implementing the changes and modifications in the services of PayWorld that are needed to keep the company far ahead of its competitors. His proficiency is very much appreciable in forging long lasting tie-ups with the Corporate Retailers.

Pramod’s dynamism is a guiding force for the PayWorld International team, which is very much on its way to expand globally with its technical and consulting solutions for the benefit of new-age entrepreneurs around the world. 

Ms. Shruti Ajmera, Head - Strategic Initiatives

Shruti is very much instrumental in establishing PayWorld as a national brand in very short span of time. Joining subject in January 2009, she took the crusade of establishing PayWorld’s brand identity in the market place with different kinds of innovative activities.

A Bachelor of Commerce (Hons.) from Shri Ram College of Commerce, New Delhi and a Master of Science (Finance and Investment) from Durham Business School, U.K., Shruti’s excellent aptitude of strategic decision making is all set to facilitate PayWorld’s entry into new world, where the end-customers will be witnessing PayWorld’s various amazing services directly. She has also been striving to formulate several innovative ventures that would prove to be a benchmark in the ancillary business segments.

Significantly, Shruti has been involved in PayWorld’s international business where she successfully takes care of important tasks of financial and business modeling along with networking and prospecting.

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.52.23
UK Pound	1	Rs.80.84
Euro	1	Rs.66.80

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		44

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.