MIRA INFORM REPORT

. Summary Information

		Country	India
Company Name	ORIENT FASHION EXPORTS (INDIA) PRIVATE LIMITED	Principal Name 1	Mr. Vinod Kumar Relia
Status	Satisfactory	Principal Name 2	Mr. Vinit Suresh Sethi
		Registration #	55-113704
Street Address	E-45/14, Okhla Industrial Area Phase-Ii New Delhi – 110020, India
Established Date	07.01.2002	SIC Code	--
Telephone#	91-11-41612020	Business Style 1	Manufacturer
Fax #	91-11-26387657	Business Style 2	Exporter
Homepage	Not Available	Product Name 1	Garments
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.90,100,000/-	Product Name 3	--
Shareholders	Directors or relatives of Directors – 100%	Banking	State Bank of India
Public Limited Corp.	No	Business Period	10 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (47)
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	524,264,000	Current Liabilities	76,173,000
Inventories	347,873,000	Long-term Liabilities	553,857,000
Fixed Assets	76,930,000	Other Liabilities	980,000
Deferred Assets	0,000	Total Liabilities	631,010,000
Invest& other Assets	10,000	Retained Earnings	227,967,000
		Net Worth	318,067,000
Total Assets	949,077,000	Total Liab. & Equity	949,077,000
Total Assets (Previous Year)	726,245,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales and O	2500,933,000	Net Profit	46,910,000
Sales(Previous yr)	1909,776,000	Net Profit(Prev.yr)	31,577,000

MIRA INFORM REPORT

Report Date :

20.07.2012

IDENTIFICATION DETAILS

Name :	ORIENT FASHION EXPORTS (INDIA) PRIVATE LIMITED

Registered Office :	E-45/14, Okhla Industrial Area Phase-Ii New Delhi – 110020

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	07.01.2002

Com. Reg. No.:	55-113704

Capital Investment / Paid-up Capital :	Rs.90.100 millions

CIN No.: [Company Identification No.]	U18101DL2002PTC113704

PAN No.: [Permanent Account No.]	AAACO4581F

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Exporter of Ladies and Kids Garments.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 1270000

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. 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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	E-45/14, Okhla Industrial Area Phase-Ii New Delhi – 110020, India
Tel. No.:	91-11-41612020
Fax No.:	91-11-26387657
E-Mail :	charul@scvandco.com raisingh@orientfashion.com

DIRECTORS

As on 08.09.2011

Name :

Mr. Vinod Kumar Relia

Designation :

Director

Address :

80/59A, Malviya Nagar, New Delhi – 110017, India

Date of Birth/Age :

02.10.1954

Date of Appointment :

30.10.2007

DIN No.:

00674175

Other directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U18101DL2005PTC139082	VAM HI-FASHION GARMENTS PRIVATE LIMITED	Director	29/08/2006	29/08/2006	-	Active	NO
2	U18101DL2002PTC113704	ORIENT FASHION EXPORTS (INDIA) PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
3	U17100DL1993PTC052317	ORIENT APPARELS PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
4	U74899DL1994PTC056977	ORIENT TEXFABS PRIVATE LIMITED	Director	01/07/2011	01/07/2011	-	Active	NO

Name :

Mr. Vinit Suresh Sethi

Designation :

Director

Address :

B-359, New Friends Colony, New Delhi – 110065, India

Date of Birth/Age :

02.10.1966

Date of Appointment :

07.01.2002

DIN No.:

00201589

Other directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1971PTC005759	CHANDRA IMPEX PRIVATE LIMITED	Director	02/09/1985	02/09/1985	-	Active	NO
2	U74899DL1983PTC015724	BHUSHAN ENGINEERING PRIVATE LIMITED	Director	02/04/1992	02/04/1992	-	Active	NO
3	U17100DL1993PTC052317	ORIENT APPARELS PRIVATE LIMITED	Director	26/02/1993	26/02/1993	-	Active	NO
4	U74899DL1994PTC056977	ORIENT TEXFABS PRIVATE LIMITED	Director	19/01/1994	19/01/1994	-	Active	NO
5	U74899DL1983PTC014967	SALU PRINTERS PRIVATE LIMITED	Director	26/12/1994	26/12/1994	-	Active	NO
6	U74899DL1972PTC005972	MALINI MANAGEMENT AND CONSULTANCY PVT LTD	Director	27/03/1995	27/03/1995	-	Active	NO
7	U74899DL1987PTC030075	EXQUISITE TRADELINKS PRIVATE LIMITED	Director	15/04/1995	15/04/1995	-	Active	NO
8	U32109DL1996PTC079940	ELEGANT SALES PRIVATE LIMITED	Director	02/07/1996	02/07/1996	-	Active	NO
9	U25111DL1996PTC080893	MOONCHASERS MARKETING PRIVATE LIMITED	Director	10/08/1996	10/08/1996	-	Active	NO
10	U74899DL1993PTC051916	ATLAS GLASS PRIVATE LIMITED	Director	01/04/1997	01/04/1997	-	Active	NO
11	U74899DL1986PTC023067	TULIPS FASHIONS PVT LTD	Director	20/11/1997	20/11/1997	-	Active	NO
12	U64201DL1997PTC089187	MEGATRENDS MARKETING PRIVATE LIMITED	Director	10/03/2000	10/03/2000	-	Active	NO
13	U18101DL2002PTC113704	ORIENT FASHION EXPORTS (INDIA) PRIVATE LIMITED	Director	07/01/2002	07/01/2002	-	Active	NO
14	U18101DL2003PTC119326	VIN APPAREL EXPORTS PRIVATE LIMITED	Director	07/03/2003	07/03/2003	-	Active	NO
15	U51311DL2003PTC119622	ORIENT HOME ACCENTS PRIVATE LIMITED	Director	28/03/2003	28/03/2003	-	Active	NO
16	U18101DL2004PTC127533	ORIENT STYLES PRIVATE LIMITED	Director	12/07/2004	12/07/2004	-	Active	NO

Name :

Mr. Amit Sethi Suresh

Designation :

Director

Address :

B-359, New Friends Colony, New Delhi – 110065, India

Date of Birth/Age :

10.08.1970

Date of Appointment :

04.04.2002

DIN No.:

00249930

Other directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1983PTC015724	BHUSHAN ENGINEERING PRIVATE LIMITED	Director	02/04/1992	02/04/1992	-	Active	NO
2	U74899DL1994PTC056977	ORIENT TEXFABS PRIVATE LIMITED	Director	19/01/1994	19/01/1994	-	Active	NO
3	U74899DL1983PTC014967	SALU PRINTERS PRIVATE LIMITED	Director	02/09/1994	02/09/1994	-	Active	NO
4	U74899DL1971PTC005759	CHANDRA IMPEX PRIVATE LIMITED	Director	30/11/1994	30/11/1994	-	Active	NO
5	U74899DL1987PTC030075	EXQUISITE TRADELINKS PRIVATE LIMITED	Director	30/03/1995	30/03/1995	-	Active	NO
6	U74899DL1972PTC005972	MALINI MANAGEMENT AND CONSULTANCY PVT LTD	Director	08/04/1995	08/04/1995	-	Active	NO
7	U32109DL1996PTC079940	ELEGANT SALES PRIVATE LIMITED	Director	02/07/1996	02/07/1996	-	Active	NO
8	U25111DL1996PTC080893	MOONCHASERS MARKETING PRIVATE LIMITED	Director	10/08/1996	10/08/1996	-	Active	NO
9	U74899DL1993PTC051916	ATLAS GLASS PRIVATE LIMITED	Director	01/04/1997	01/04/1997	-	Active	NO
10	U64201DL1997PTC089187	MEGATRENDS MARKETING PRIVATE LIMITED	Director	10/03/2000	10/03/2000	-	Active	NO
11	U18101DL2002PTC113704	ORIENT FASHION EXPORTS (INDIA) PRIVATE LIMITED	Director	04/04/2002	04/04/2002	-	Active	NO
12	U18101DL2003PTC119326	VIN APPAREL EXPORTS PRIVATE LIMITED	Director	07/03/2003	07/03/2003	-	Active	NO
13	U51311DL2003PTC119622	ORIENT HOME ACCENTS PRIVATE LIMITED	Director	28/03/2003	28/03/2003	-	Active	NO
14	U18101DL2004PTC127533	ORIENT STYLES PRIVATE LIMITED	Director	12/07/2004	12/07/2004	-	Active	NO
15	U74899DL1988PTC030275	GURU TIN INDUSTRIES PRIVATE LIMITED	Director	31/07/2004	31/07/2004	-	Active	NO
16	U51311DL2004PTC126176	DAFFODILS EXIM PRIVATE LIMITED	Director	15/09/2004	15/09/2004	-	Active	NO

Name :

Mrs. Meena Sethi

Designation :

Director

Address :

B-359, New Friends Colony, New Delhi – 110065, India

Date of Birth/Age :

26.09.1954

Date of Appointment :

07.01.2002

DIN No.:

00221921

Other directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1971PTC005759	CHANDRA IMPEX PRIVATE LIMITED	Managing director	10/03/1980	10/03/1980	-	Active	NO
2	U74899DL1983PTC014967	SALU PRINTERS PRIVATE LIMITED	Director	19/05/1984	19/05/1984	-	Active	NO
3	U74899DL1983PTC015724	BHUSHAN ENGINEERING PRIVATE LIMITED	Director	02/04/1992	02/04/1992	-	Active	NO
4	U17100DL1993PTC052317	ORIENT APPARELS PRIVATE LIMITED	Director	26/02/1993	26/02/1993	-	Active	NO
5	U74899DL1994PTC056977	ORIENT TEXFABS PRIVATE LIMITED	Director	19/01/1994	19/01/1994	-	Active	NO
6	U74899DL1972PTC005972	MALINI MANAGEMENT AND CONSULTANCY PVT LTD	Director	27/03/1995	27/03/1995	-	Active	NO
7	U74899DL1987PTC030075	EXQUISITE TRADELINKS PRIVATE LIMITED	Director	30/03/1995	30/03/1995	-	Active	NO
8	U74899DL1986PTC023067	TULIPS FASHIONS PVT LTD	Director	15/04/1996	15/04/1996	-	Active	NO
9	U74899DL1995PTC071096	TYCOON MARKETING PRIVATE LIMITED	Director	02/07/1996	02/07/1996	-	Active	NO
10	U64201DL1997PTC089187	MEGATRENDS MARKETING PRIVATE LIMITED	Director	10/03/2000	10/03/2000	-	Active	NO
11	U18101DL2002PTC113704	ORIENT FASHION EXPORTS (INDIA) PRIVATE LIMITED	Director	07/01/2002	07/01/2002	-	Active	NO
12	U51311DL2003PTC119622	ORIENT HOME ACCENTS PRIVATE LIMITED	Director	10/09/2003	10/09/2003	-	Active	NO
13	U18101DL2003PTC119326	VIN APPAREL EXPORTS PRIVATE LIMITED	Director	02/02/2004	02/02/2004	-	Active	NO
14	U18101DL2004PTC127533	ORIENT STYLES PRIVATE LIMITED	Director	12/07/2004	12/07/2004	-	Active	NO
15	U74899DL1988PTC030275	GURU TIN INDUSTRIES PRIVATE LIMITED	Director	31/07/2004	31/07/2004	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 08.09.2011

Names of Shareholders		No. of Shares
Vinit Suresh Sethi		1802000
Meena Sethi		5406000
Amit Sethi Suresh		1802000
Total		9010000

As on 08.09.2011

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 :

Manufacturer and Exporter of Ladies and Kids Garments.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Standard Chartered Bank, Narain Manzil, 28, Barakhamba Road, New Delhi - 110001, India

· State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan 1, Tolstoy Marg, New Delhi – 110001, India

Facilities :

SECURED LOAN

As on

31.03.2011

(Rs. in

Millions)

As on

31.03.2010

(Rs. in

Millions)

Working capital loans banks secured

553.857

358.686

Total

553.857

358.686


Banking Relations :	--

Auditors :
Name :	S C Varma and Company Chartered Accountant
Address :	A-60 N.D.S.E, Part-I, New Delhi – 110049, India
Tel. No.:	91-11-24648247 / 24649845
Fax No.:	91-11-24649330
E-Mail :	scvarma@scvandco.com
PAN.:	AACFS1889H

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

10000000	Equity Shares	Rs.10/- each	Rs.100.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

9010000	Equity Shares	Rs.10/- each	Rs.90.100 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		90.100	90.100	90.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		227.967	181.057	149.480
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		318.067	271.157	239.580
LOAN FUNDS
1] Secured Loans		553.857	358.686	348.045
2] Unsecured Loans		0.000	0.000	2.814
TOTAL BORROWING		553.857	358.686	350.859
DEFERRED TAX LIABILITIES		0.799	0.452	0.974

TOTAL		872.723	630.295	591.413

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		76.930	49.490	47.479
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		0.010	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	347.873	301.623	0.000
	Sundry Debtors	258.288	179.584	0.000
	Cash & Bank Balances	62.926	17.194	0.000
	Other Current Assets	24.304	47.146	0.000
	Loans & Advances	178.746	131.208	603.201
Total Current Assets		872.137	676.755	603.201
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	61.162	77.594	55.438
	Other Current Liabilities	15.011	18.214	3.829
	Provisions	0.181	0.142	0.000
Total Current Liabilities		76.354	95.950	59.267
Net Current Assets		795.783	580.805	543.934

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		872.723	630.295	591.413

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		1909.776	2134.907
		Other Income		115.911	135.524
		TOTAL	2500.933	2025.687	2270.431

Less	EXPENSES
		Manufacturing Expenses		1785.509	1635.256
		Increase / Decrease in stock		(32.287)	308.020
		Personnel		63.688	61.216
		Administrative and Operative Expenses		79.548	82.904
		Selling and Distribution Expenses		37.907	66.310
		Other Expenditure		(15.605)	0.000
		TOTAL	2415.789	1918.760	2153.706

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		85.144	106.927	116.725

Less	FINANCIAL EXPENSES (D)		0.000	47.123	58.355

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		85.144	59.804	58.370

Less/ Add	DEPRECIATION/ AMORTISATION		14.446	11.693	13.136

	PROFIT BEFORE TAX		70.697	48.111	45.234

Less	TAX		23.787	16.534	16.691

	PROFIT AFTER TAX		46.910	31.577	28.543

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		169.077	137.500	108.957

	BALANCE CARRIED TO THE B/S		215.987	169.077	137.500

	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	2179.711	1696.353	(1805.219)
	TOTAL EARNINGS		2179.711	1696.353	(1805.219)

	IMPORTS
		Raw Materials	257.974	(265.374)	0.000
		Consumable Stores	34.459	(50.958)	0.000
		Capital Goods	23.185	(4.366)	0.000
		Packing Material	4.093	(0.361)	0.000
		Spare Parts	3.463	(4.648)	0.000
		Finished Goods	47.461	(44.782)	0.000
	TOTAL IMPORTS		370.635	370.635	0.000

	Earnings Per Share (Rs.)		5.21	3.50	1.17

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2011
PAT / Total Income	(%)	1.88	1.56	1.25

Net Profit Margin (PBT/Sales)	(%)	NA	0.22	2.12

Return on Total Assets (PBT/Total Assets}	(%)	7.45	6.62	6.95

Return on Investment (ROI) (PBT/Networth)		0.22	0.18	0.18

Debt Equity Ratio (Total Liability/Networth)		1.98	1.68	1.48

Current Ratio (Current Asset/Current Liability)		11.42	7.05	10.17

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	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
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	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

Bankers Charges Report as per Registry

Corporate identity number of the company	U18101DL2002PTC113704
Name of the company	ORIENT FASHION EXPORTS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	E-45/14, Okhla Industrial Area Phase-Ii New Delhi – 110020 raisingh@orientfashion.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90049473
Type of charge	· Immovable property · Book debts · Movable property (not being pledge)
Particular of charge holder	State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan 1, Tolstoy Marg, New Delhi – 110001, India sushil.k.kumar@sbi.co.in
Nature of instrument creating charge	i) Letter regarding the grant of individual limits within the Overall Limit
Date of instrument Creating the charge	18.05.2010
Amount secured by the charge	Rs.1040.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest EPC/FBP/FBD (Non LC) Demand Bills (upto 270 days)- 3% below SBAR i.e. 8.75% p.a., FBP/FBD (Non LC) - Usance Bills - As per Bank guidelines. Commission on LC/BG - As per extant charges. Terms of Repayment Payable on demand. Margin Raw Material - 25%, Stock-in-Process - 25%, Finished Goods - 25%, Stores and Spares - 25%, Letter of Credit - 10%, Bank Guarantee - 10%. However, against disputed liability Bank Guarantee, 100% cash margin will be retained. Extent and Operation of the charge The charge operates till the repayment of all the dues together with interest and all other charges in respect of credit facilities availed / to be availed by the company from the bank. Others The above is to secure the enhanced working capital limits provided by the bank as under : Export Packing Credit* - Rs. 250.000 millions, FBP/FBD(Non LC)* - Rs. 300.000 million, Advance against Export Bills sent for Collection (within FBP/FBD Non LC) - (Rs. 150.000 million), Letter of Credit - Rs.30.000 million, Bank Guarantee - Rs. 10.000 million, Stand by Line of Credit - Rs. 110.000 million and FBP/FBD (Under LC) Rs. 340.000 million. Totalling Rs. 1040.000 million *Full interchangeability between EPC and FBP/FBD (Non LC) limits.
Short particulars of the property charged	i) First charge by way of hypothecation of entire current assets of the company namely goods, movables and other assets such as book-debts, outstanding moneys, receivables including receivables by way of cash assistance and other scheme, bills, invoices, documents, contracts insurance policies, engagements, securities, investments rights, and all machinery present and future of such from satisfactory to the bank. ii) First charge over entire fixed assets of the company, both present and future.
Date of latest modification prior to the present modification	24.12.2007
Particulars of the present modification	i) Amount of charge remain the same at Rs. 1040.000 i) Amount of charge remain the same at Rs. 104.000 millions. The modified working capital facilities together with interest and other charges are/shall continue to be secured by: i) First charge on entire current assets of the company including receivables, both present and future. ii) First charge over entire fixed assets of the company, both present and future. ii) Other terms and conditions as per Sanction Letter No. SBI/OBND/RM-III/2009-10/545 dated 17.03.2010. The modified working capital facilities together with interest and other charges are/shall continue to be secured by : i) First charge on entire current assets of the company including receivables, both present and future. ii) First charge over entire fixed assets of the company, both present and future. ii) Other terms and conditions as per Sanction Letter No. SBI/OBND/RM-III/2009-10/545 dated 17.03.2010.

FIXED ASSETS:

· Improvement to Lease Building

· Plant and Machinery

· Furniture and Fixture

· Computer and Software

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.38
UK Pound	1	Rs.86.75
Euro	1	Rs.67.06

INFORMATION DETAILS

Report Prepared by :

DPK

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	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	YE
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		47

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.

MIRA INFORM REPORT

347.873

258.288

62.926

24.304

178.746

872.137

61.162

15.011

0.181

76.354

795.783

1.88

NA

7.45

0.22

1.98

11.42

Unit