MIRA INFORM REPORT

Report Date :

24.01.2012

IDENTIFICATION DETAILS

Name :	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED
Registered Office :	“Prakash House”, 39/40- Krishna Industrial Estate, Opposite BIDC Gorwa, Vadodara – 390016, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	21.06.2002
Com. Reg. No.:	04-40891
Capital Investment / Paid-up Capital :	Rs.3.725 Millions
CIN No.: [Company Identification No.]	U24231GJ2002PTC040891
IEC No.:	3402001152
TAN No.: [Tax Deduction & Collection Account No.]	BRDP01039D
PAN No.: [Permanent Account No.]	AACCP5395A
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in General Chemicals and Consumable Products.
No. of Employees :	Not Available

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 230000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an 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. 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. Sheetal
Designation :	Accountant

LOCATIONS

Registered Office :	“Prakash House”, 39/40- Krishna Industrial Estate, Opposite BIDC Gorwa, Vadodara – 390016, Gujarat India
Tel. No.:	91-265-2774925/ 2772788 / 2773789 / 2771642/ 3926000
Fax No.:	91-265-2772992/ 3926046
E-Mail :	pcpl@prakashchemicals.com manish@prakashchemicals.com
Website :	http://www.pciplindia.com

DIRECTORS

(AS ON 27.09.2011)

Name :

Mr. Prakash Chunilal Shah

Designation :

Director

Address :

57, Shreenagar Society, Shri Dinesh Mill Road, Baroda – 390 020, Gujarat, India

Date of Birth/Age :

03.11.1945

Date of Appointment :

28.09.2002

DIN No.:

00382086

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	9/8/2002	9/8/2002	Active	NO
5	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO
7	U85110GJ2012NPL068724	PRAKASH COMMUNITY CENTRE	Director	23/01/2012	23/01/2012	Active	NO

Name :

Mr. Dilip Kumarpal Shah

Designation :

Director

Address :

15, Urmi Society, Baroda Productivity Road, Baroda – 390 020, Gujarat, India

Date of Birth/Age :

21.09.1956

Date of Appointment :

21.06.2002

DIN No.:

00308782

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	21/06/2002	21/06/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Managing director	9/8/2002	9/8/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO
7	U92412GJ2009NPL058550	VADODARA MARATHON	Director	12/11/2009	12/11/2009	Active	NO
8	U85110GJ2012NPL068724	PRAKASH COMMUNITY CENTRE	Director	23/01/2012	23/01/2012	Active	NO

Name :

Mr. Hitesh Chandrakant Shah

Designation :

Director

Address :

1, Bhagyalaxmi Society, Neat Akota Garden, Baroda, Gujarat, India

Date of Birth/Age :

17.07.1958

Date of Appointment :

28.09.2002

DIN No.:

00315534

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	Active	NO
3	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
4	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
5	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO
6	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	10/3/2007	10/3/2007	Active	NO

Name :

Mr. Atul Chandrakant Shah

Designation :

Director

Address :

21, Charotar Society, Old Padra Road, Baroda – 390020, Gujarat, India

Date of Birth/Age :

10.11.1959

Date of Appointment :

28.09.2002

DIN No.:

00411580

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO

Name :

Mr. Pinakin Kumarbhai Shah

Designation :

Director

Address :

7, Nandanvan Colony, Near Akota Stadium, Baroda – 390 020, Gujarat, India

Date of Birth/Age :

18.09.1961

Date of Appointment :

28.09.2002

DIN No.:

00411629

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Managing director	21/03/2005	21/03/2005	Active	NO

Name :

Mr. Manish Kumarpal Shah

Designation :

Director

Address :

3, Spring Valley, Productivity Road, Baroda – 390 020, Gujarat, India

Date of Birth/Age :

13.12.1968

Date of Appointment :

21.06.2002

DIN No.:

00315521

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Managing director	21/06/2002	21/06/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	9/8/2002	9/8/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO

Name :

Mr. Chirag Prakash Shah

Designation :

Director

Address :

57, Shreenagar Society, Shri Dinesh Mill Road, Baroda – 390 020, Gujarat, India

Date of Birth/Age :

12.10.1973

Date of Appointment :

28.09.2002

DIN No.:

00308856

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO

Name :

Mr. Hardik Suryakant Shah

Designation :

Director

Address :

5, Sriniketan Society, Jetalpur Road, Baroda – 390 005, Gujarat, India

Date of Birth/Age :

02.03.1977

Date of Appointment :

28.09.2002

DIN No.:

00315509

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	10/2/1996	10/2/1996	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Managing director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO

KEY EXECUTIVES

Name :	Ms. Sheetal
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 27.09.2011)

Names of Shareholders	No. of Shares
Prakash Chemicals Private Limited, India	10000
Manish Shah	14063
Dilip K. Shah	14063
Prakash C. Shah	14062
Hitesh C. Shah	14062
Atul C. Shah	14062
Pinakin K. Shah	14062
Chirag P. Shah	14062
Hardik S. Shah	14066
Prakash Chemicals Agencies Private Limited, India	250000
Total	372502

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Bodies corporate	69.80
Directors or relatives of directors	30.20
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading in General Chemicals and Consumable Products.

Products :

· Industrial Chemicals

· Dyestuff Intermediates

· Fertilizers and Agro Chemicals

· Minerals

· Paint and Ink Additives

· Specialty Chemicals

· Water Treatment Chemicals

· Agricultural Commodities

· Pharmaceutical Ingredients

Item Code No. (ITC Code)	281511.01
Product Description	Caustic Soda Flakes
Item Code No. (ITC Code)	280610.00
Product Description	Hydrochloric Acid
Item Code No. (ITC Code)	280110.00
Product Description	Chlorine

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Bank of Baroda,

IBB Branch, Sayajiganj, Vadodara – 390 005, Gujarat, India

· ICICI Bank Limited

Facilities :

Secured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Bank of Baroda, IBB Branch
Foreign currency bill discount a/c	--	9.582
Packing Credit in Foreign currency (PCFC) (Secured against stock, Book Debts, Personal Guarantee of directors and Equitable mortgage of shop at Parshwa complex, A/1-2 and Plot No.3 of Shraddha Building on the name of directors relative)	119.184	67.000
Total	119.184	76.582
Unsecured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Directors and Shareholders Loans (Interests accrued on above C.Y. Rs.0.100 Million, P.Y. Rs.0.058 Million)	1.661	0.571
Inter Corporate Deposits (Interests Accrued on above C.Y. Rs. Nil, P. Y. Rs. Nil)	2.306	0.027
Total	3.967	0.598

Banking Relations :	--
Auditors :
Name :	C.R. Sharedalal and Company Chartered Accountants
Address :	101-102, First Floor, Parishram 5 B, Rashmi Society, Mithakhali Six Road, Navarangpura, Ahmedabad – 380 009, Gujarat, India
Tel. No.:	91-79-26446560
Fax No.:	91-79-26449570
PAN No.:	AAAFC6902F
E-Mail:	jcs@crsharedalalco.com
Holding Company :	Prakash Chemicals Agencies Private Limited CIN No.: U51496GJ2002PTC041095
Subsidiaries Company :	Shah International FZE (Dubai) 217/2, Twin Towers, PO Box. 42198, Deira, Dubai Tele : 97-14-2239 765 / 2239 207 Fax : 97-14-2280 482 E-mail : chemicals@shahinternationalfze.com
Group Company :	· Prakash Chemicals Agencies Private Limited (PCAPL) · Prakash Chemicals Private Limited (PCPL) · Prakash Software Solutions Private Limited (PSPL) · Prakash Tele-Services Private Limited (PTSPL) · Prakash Financial Services (Gujarat) Limited · Prakash Gas Company (PGC) · Prakash Herbal

CAPITAL STRUCTURE

(AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Share	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
372502	Equity Share	Rs.10/- each	Rs.3.725 Millions

NOTE:

250000 Equity Shares are held by Prakash Chemicals Agencies private limited, the holding company.

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		3.725	3.725	3.725
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		54.475	34.371	13.223
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		58.200	38.096	16.948
LOAN FUNDS
1] Secured Loans		119.184	76.582	57.191
2] Unsecured Loans		3.967	0.598	1.463
TOTAL BORROWING		123.151	77.180	58.654
DEFERRED TAX LIABILITIES		1.882	0.383	0.610
TOTAL		183.233	115.659	76.212
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		21.377	6.182	4.098
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		5.497	1.302	1.304
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	22.741	25.357	15.847
	Sundry Debtors	145.524	106.145	82.492
	Cash & Bank Balances	39.586	35.942	10.161
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	63.477	38.046	27.734
Total Current Assets		271.328	205.490	136.234
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	64.094	70.542	48.186
	Other Current Liabilities	22.902	8.003	10.675
	Provisions	27.973	18.770	6.563
Total Current Liabilities		114.969	97.315	65.424
Net Current Assets		156.359	108.175	70.810
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		183.233	115.659	76.212

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	901.394	582.275	369.232
		Other Income		27.090	22.732
		TOTAL (A)	901.394	609.365	391.964
Less	EXPENSES
		Cost of Goods Sold		437.738	305.941
		Administrative and Other Expenses		133.142	76.268
		Directors’ Remuneration		0.960	0.600
		TOTAL (B)	869.238	571.840	382.809
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(Including Financial Expenses)	37.525	9.155
Less	FINANCIAL EXPENSES (D)			3.744	2.058
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		32.156	33.781	7.097
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.352	0.650	0.493
	PROFIT BEFORE TAX (E-F) (G)		30.804	33.131	6.604
Less	TAX (H)		10.699	11.983	2.555
	PROFIT AFTER TAX (G-H) (I)		20.105	21.148	4.049
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	766.685	517.001	313.111
		Other Earnings	0.105	0.103	0.121
	TOTAL EARNINGS		766.790	517.104	313.232
	Earnings Per Share (Rs.)		53.97	56.77	10.87

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.23	3.47	1.03
Net Profit Margin (PBT/Sales)	(%)	--	5.69	1.79
Return on Total Assets (PBT/Total Assets}	(%)	10.52	15.65	4.71
Return on Investment (ROI) (PBT/Networth)		0.53	0.87	0.39
Debt Equity Ratio (Total Liability/Networth)		4.09	4.58	7.32
Current Ratio (Current Asset/Current Liability)		2.36	2.11	2.08

LOCAL AGENCY FURTHER INFORMATION

NOTE:

The Registered Office of the company has been shifted from Induchacha House, Opposite Chhani Octroi Naka, Baroda – 390002, Gujarat, India, to the present address w.e.f. 01.06.2011.

CONTINGENT LIABILITIES

Bank of Baroda has issued letter of credit of Rs.13.282 Millions against the margin money (fixed deposit) of Rs.4.530 Millions)

FORM 8:

Corporate identity number of the company	U24231GJ2002PTC040891
Name of the company	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	“Prakash House”, 39/40- Krishna Industrial Estate, Opposite BIDC Gorwa, Vadodara – 390016, Gujarat, India pcpl@prakashchemicals.com
This form is for	Modification of charge
Charge identification number of the modified	80010075
Type of charge	Immovable Property
Particular of charge holder	Bank of Baroda, IBB Branch, Sayajiganj, Vadodara – 390005, Gujarat, India E-Mail: ovebar@bankofbaroda.com
Nature of description of the instrument creating or modifying the charge	Deed of Mortgage
Date of instrument Creating the charge	14.10.2011
Amount secured by the charge	Rs.292.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: 5.50% above base rate with monthly rest on Term Loan 1.25% above base rate with monthly rest on Packing Credit 1.25% above base rate with monthly rest on FBP/FBD Terms of Repayment: For Term Loan: 59 equal monthly installments For PC/PCFC/FBP/FBD: 180 days usance Margin: For Term Loan: Land:100%, Construction: 30%, Furniture and Fixtures: 31.27% For PC: 10% on FOB Value For Inland/LC: 10% Cash Margin by way of FDR For Derivative Transaction: 5% in Cash / FDR on Forward Contract Extent and Operation of the charge: First Charge on the Immovable Properties of the Company
Short particulars of the property charged	Immovable property situated at Registration District and sub District Vadodara, Mouje Gorwa, R.S No.992/2, 993/2/B, 998/1 and 998/2, paiki Plot No. C40 admeasuring 972 sq. mtrs.
Particulars of the present modification	The existing Charge of Rs. 292.000 Millions has remained same. The Charge has been modified to secure the repayment of finance facilities by providing additional securities of immovable properties belonging to the Company.

FIXED ASSETS:

· Office Equipments

· Computers

· Computers Software

· Furniture and Fixtures

· LCH Gas Cylinder

· Motor Car

· Air Conditioners

· Land

· Plant and Machinery

WEBSITE DETAILS

PROFILE:

Subject is a part of the Prakash Group, a conglomerate with 60 years of rich experience in the distribution of Industrial Chemicals, Software, Stationary, Telecommunications and other products.

It is a leading exponent for soap and detergent raw material, paint and coating chemicals, flavour and fragrance chemicals, plastic additives, cosmetics ingredients, food and beverage chemicals, water treatment chemicals and many other significant industries. Its people, processes, systems, distribution networks, contract manufacturing sites and strategic relationships with raw material producers focus on satisfying the need; ensuring that every order is on time, accurate and complete.

Subject combines its excellence in technical knowledge of applications with indigenous presence in various counties; facilitating a deep understanding of the differing business practices and cultures throughout the world. The centralised coordination of IT, ERP system and logistics ensure efficient and cost effective provision of ‘back room’ functions; enabling company to meet the highest of standards and consistently apply them throughout its functions.

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.50.33
UK Pound	1	Rs.77.97
Euro	1	Rs.65.31

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	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	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.