MIRA INFORM REPORT

Report Date :

26.07.2012

IDENTIFICATION DETAILS

Name :	ML INFOWAY PROJECTS LIMITED [w.e.f. 13.08.2002]

Formerly Known As :	ML INFOWAY PROJECTS PRIVATE LIMITED

Registered Office :	D. No. 10-02-09, Sambasivapet, 2^nd Line, Guntur-522001, Andhra Pradesh

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	11.05.1982

Com. Reg. No.:	01-003480

Capital Investment / Paid-up Capital :	Rs.20.000 Millions

CIN No.: [Company Identification No.]	U17230AP1982PLC003480

TAN No.: [Tax Deduction & Collection Account No.]	HYDM02916E

PAN No.: [Permanent Account No.]	AADCM8737A

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Real Estate Developer.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

Maximum Credit Limit :	USD 530000

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

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	D. No. 10-02-09, Sambasivapet, 2^nd Line, Guntur-522001, Andhra Pradesh, India
Tel. No.:	91-863-2223135
Fax No.:	91-863-2356741
E-Mail :	dsc_director@rediffmail.com

DIRECTORS

As on 12.09.2011

Name :

Mrs. Seethadevi Maddi

Designation :

Director

Address :

Chirala Road, Chilakaluripet, Guntur-522616, Andhra Pradesh, India

Date of Birth/Age :

15.10.1937

Date of Appointment :

11.05.1982

Din No.:

00013389

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	Company/ LLP Status	Defaulting status
1	U52110AP1970PLC001370	MADDI LAKSHMAIAH AND COMPANY LIMITED	Director	08/10/1970	08/10/1970	Active	NO
2	U01119AP1976PLC002048	ML AGRO PRODUCTS LIMITED	Director	26/08/1976	26/08/1976	Active	NO
3	U17230AP1982PLC003480	ML INFOWAY PROJECTS LIMITED	Director	11/05/1982	11/05/1982	Active	NO
4	U01119TN1982PTC009507	SOUMYA AGRO PRODUCTS AND OILS PRIVATE LIMITED	Director	22/07/1982	22/07/1982	Active	NO
5	U15440TN1972PLC006103	K S SUBBIAH PILLAI AND COMPANY (INDIA) LIMITED	Managing director	01/04/2008	01/03/1983	Active	NO
6	U65920AP1994PLC018846	M L FINANCIAL SERVICES LIMITED	Director	30/11/1995	30/11/1995	Strike off	NO
7	U16001AP1951PLC000456	UNITED TOBACCO PACKERS LTD	Director	01/10/1998	01/10/1998	Active	NO
8	U25112KA1972PTC002247	T M T INDUSTRIAL COMPLEX PRIVATE LIMITED	Director	29/09/2001	29/09/2001	Active	NO
9	U16001AP1937PLC001276	GUNTUR TOBACCO LIMITED	Director	17/09/2002	17/09/2002	Active	NO
10	U01119AP1982PTC003482	ML SOFTWARE PARKS PRIVATE LIMITED	Director	07/08/2003	07/08/2003	Strike off	NO
11	U15490AP1988PTC009273	ML INFORMATION AND TECHNOLOGY PARKS PRIVATE LIMITED	Director	14/08/2003	14/08/2003	Active	NO
12	U07010KA2003PTC032603	CHATHUR REALTORS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	Active	NO
13	U16000AP2004PTC044351	ML TOBACCO DEVELOPERS PRIVATE LIMITED	Director	10/11/2010	10/11/2010	Active	NO

Name :

Mr. Venkateswara Rao Maddi

Designation :

Director

Address :

D. No. 4-2-11, 1^st Line, Ramannapeta, Kdritepadu, Guntur-522007, Andhra Pradesh, India

Date of Birth/Age :

16.04.1656

Date of Appointment :

11.05.1982

Din No.:

00013393

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	U52110AP1970PLC001370	MADDI LAKSHMAIAH AND COMPANY LIMITED	Director	07/05/1981	07/05/1981	-	Active	NO
2	U01119AP1976PLC002048	ML AGRO PRODUCTS LIMITED	Director	19/04/1982	19/04/1982	-	Active	NO
3	U01119AP1982PTC003482	ML SOFTWARE PARKS PRIVATE LIMITED	Director	11/05/1982	11/05/1982	-	Strike off	NO
4	U17230AP1982PLC003480	ML INFOWAY PROJECTS LIMITED	Director	11/05/1982	11/05/1982	-	Active	NO
5	U15440TN1972PLC006103	K S SUBBIAH PILLAI AND COMPANY (INDIA) LIMITED	Director	19/05/1982	19/05/1982	-	Active	NO
6	U15143AP1975PLC001967	COROMANDEL AGRO PRODUCTS AND OILS LIMITED	Managing director	26/03/1983	26/03/1983	-	Active	NO
7	U55101AP1985PLC005270	PARDHASARADHY HOTEL ENTERPRISES LIMITED	Whole-time director	21/07/1990	21/07/1990	01/03/2010	Active	NO
8	U16001AP1937PLC001276	GUNTUR TOBACCO LIMITED	Director	09/09/1993	09/09/1993	-	Active	NO
9	U16001AP1998PLC030072	M L INDUSTRIES LIMITED	Director	03/09/1998	03/09/1998	-	Active	NO
10	U16001AP1951PLC000456	UNITED TOBACCO PACKERS LIMITED	Director	01/10/1998	01/10/1998	-	Active	NO
11	U25112KA1972PTC002247	T M T INDUSTRIAL COMPLEX PRIVATE LIMITED	Director	29/09/2001	29/09/2001	-	Active	NO
12	U15490AP1988PTC009273	ML INFORMATION AND TECHNOLOGY PARKS PRIVATE LIMITED	Director	14/08/2003	14/08/2003	-	Active	NO
13	U16000AP2004PTC044351	ML TOBACCO DEVELOPERS PRIVATE LIMITED	Director	07/10/2004	07/10/2004	-	Active	NO
14	U16001AP2004PTC044878	PREMIUM TOBACCO INDIA PRIVATE LIMITED	Managing director	15/12/2004	15/12/2004	-	Active	NO
15	U07010KA2003PTC032603	CHATHUR REALTORS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Active	NO
16	U15140MH1969NPL014362	ALL INDIA COTTONSEED CRUSHERS ASSOCIATION	Director	21/09/2006	21/09/2006	-	Active	NO
17	U45202KA2006PTC040633	SANHITA BUSINESS PARK PRIVATE LIMITED	Director	27/09/2006	27/09/2006	-	Strike off	NO
18	U45208KA2006PTC040639	SOUMYA BUSINESS PARK PRIVATE LIMITED	Director	27/09/2006	27/09/2006	-	Strike off	NO
19	U51909AP2008PTC059649	MICHAILIDES ML ORIENTAL TOBACCO PRIVATE LIMITED	Director	13/06/2008	13/06/2008	-	Active	NO
20	U51909AP2012PTC081741	ML INTERNATIONAL PRIVATE LIMITED	Director	03/07/2012	03/07/2012	-	Active	NO

Name :

Mr. Ramesh Maddi

Designation :

Director

Address :

Chirala Road, Chilakaluripet, Guntur-522616, Andhra Pradesh, India

Date of Birth/Age :

15.07.1929

Date of Appointment :

15.07.2002

Din No.:

00013394

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	Company/ LLP Status	Defaulting status
1	U15490AP1988PTC009273	ML INFORMATION AND TECHNOLOGY PARKS PRIVATE LIMITED	Managing director	01/11/1992	01/11/1992	Active	NO
2	U65920AP1994PLC018846	M L FINANCIAL SERVICES LIMITED	Director	30/11/1995	30/11/1995	Strike off	NO
3	U16001AP1998PLC030072	M L INDUSTRIES LIMITED	Director	03/09/1998	03/09/1998	Active	NO
4	U15440TN1972PLC006103	K S SUBBIAH PILLAI AND COMPANY (INDIA) LIMITED	Director	20/02/2001	20/02/2001	Active	NO
5	U52110AP1970PLC001370	MADDI LAKSHMAIAH AND COMPANY LIMITED	Director	20/02/2001	20/02/2001	Active	NO
6	U01119AP1976PLC002048	ML AGRO PRODUCTS LIMITED	Whole-time director	01/04/2008	20/02/2001	Active	NO
7	U25112KA1972PTC002247	T M T INDUSTRIAL COMPLEX PRIVATE LIMITED	Director	29/09/2001	29/09/2001	Active	NO
8	U15143AP1975PLC001967	COROMANDEL AGRO PRODUCTS AND OILS LIMITED	Director	27/10/2001	27/10/2001	Active	NO
9	U17230AP1982PLC003480	ML INFOWAY PROJECTS LIMITED	Director	15/07/2002	15/07/2002	Active	NO
10	U01119AP1982PTC003482	ML SOFTWARE PARKS PRIVATE LIMITED	Director	07/08/2003	07/08/2003	Strike off	NO
11	U16000AP2004PTC044351	ML TOBACCO DEVELOPERS PRIVATE LIMITED	Director	07/10/2004	07/10/2004	Active	NO
12	U07010KA2003PTC032603	CHATHUR REALTORS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	Active	NO

Name :

Lakshmaiah Maddi

Designation :

Director

Address :

Chirala Road, Chilakaluripet, Guntur-522616, Andhra Pradesh, India

Date of Birth/Age :

15.07.1929

Date of Appointment :

05.08.2002

Din No.:

00013387

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	U52110AP1970PLC001370	MADDI LAKSHMAIAH AND COMPANY LIMITED	Managing director	01/04/2008	08/10/1970	-	Active	NO
2	U15143AP1975PLC001967	COROMANDEL AGRO PRODUCTS AND OILS LIMITED	Director	12/12/1975	12/12/1975	-	Active	NO
3	U01119AP1976PLC002048	ML AGRO PRODUCTS LIMITED	Director	09/07/1976	09/07/1976	-	Active	NO
4	U16001AP1982PTC003479	M L INDUSTRIAL AND AGRICULTURAL PRODUCTS PRIVATE LIMITED	Director	11/05/1982	11/05/1982	-	Active	NO
5	U01119TN1982PTC009507	SOUMYA AGRO PRODUCTS AND OILS PRIVATE LIMITED	Director	22/07/1982	22/07/1982	-	Active	NO
6	U15440TN1972PLC006103	K S SUBBIAH PILLAI AND COMPANY (INDIA) LIMITED	Director	01/03/1983	01/03/1983	-	Active	NO
7	U15490AP1988PTC009273	ML INFORMATION AND TECHNOLOGY PARKS PRIVATE LIMITED	Director	10/03/1992	10/03/1992	-	Active	NO
8	U65920AP1994PLC018846	M L FINANCIAL SERVICES LIMITED	Director	30/11/1995	30/11/1995	-	Strike off	NO
9	U55101AP1985PLC005270	PARDHASARADHY HOTEL ENTERPRISES LIMITED	Director	31/07/1998	31/07/1998	01/03/2010	Active	NO
10	U16001AP1998PLC030072	M L INDUSTRIES LIMITED	Director	03/09/1998	03/09/1998	-	Active	NO
11	U16001AP1951PLC000456	UNITED TOBACCO PACKERS LIMITED	Director	01/10/1998	01/10/1998	-	Active	NO
12	U25112KA1972PTC002247	T M T INDUSTRIAL COMPLEX PRIVATE LIMITED	Director	29/09/2001	29/09/2001	-	Active	NO
13	U17230AP1982PLC003480	ML INFOWAY PROJECTS LIMITED	Director	05/08/2002	05/08/2002	-	Active	NO
14	U01119AP1982PTC003482	ML SOFTWARE PARKS PRIVATE LIMITED	Director	07/08/2003	07/08/2003	-	Strike off	NO
15	U16001AP2004PTC044878	PREMIUM TOBACCO INDIA PRIVATE LIMITED	Director	15/12/2004	15/12/2004	-	Active	NO
16	U07010KA2003PTC032603	CHATHUR REALTORS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Active	NO
17	U51909AP2008PTC059649	MICHAILIDES ML ORIENTAL TOBACCO PRIVATE LIMITED	Director	13/06/2008	13/06/2008	-	Active	NO
18	U16000AP2004PTC044351	ML TOBACCO DEVELOPERS PRIVATE LIMITED	Director	10/11/2010	10/11/2010	-	Active	NO
19	U51909AP2012PTC081741	ML INTERNATIONAL PRIVATE LIMITED	Director	03/07/2012	03/07/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 12.09.2011

Names of Shareholders		No. of Shares
K.S. Subbiah Pillai and Company (India) Limited, India		1991000
Seethedevi Maddi		1125
Venkateswara Rao Maddi		1350
Lakshmaiah Maddi		1125
Ramesh Maddi		1350
Lalitha Maddi		900
Soumya Maddi		675
Sanhitha Maddi		675
Radhika Maddi		900
Sanjana Maddi		900

Total		2000000

As on 12.09.2011

Equity Share Breakup		Percentage of Holding
Category
Bodies corporate		99.55
Directors or relatives of directors		0.45
Total		100.00

BUSINESS DETAILS

Line of Business :

Real Estate Developer.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Indian Overseas Bank, Kothapet, Guntur-522001, Andhra Pradesh, India

· State Bank of India, Commercial Branch, Guntur, Andhra Pradesh, India

Facilities :

SECURED LOAN	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Indian Overseas Bank, Guntur
Foreign Currency Term Loan I	10.784	24.973
Foreign Currency Term Loan II [The above loans are secured by equitable mortgage by deposition of title deeds of immovable property of the company situated at Lower Parel, Mumbai. Also above loans are personally guaranteed by directors of the company Mr. Maddi Lakshmaiah, Mrs. Maddi Seethadevi, Mr. Maddi Venkateswara Rao and Mr. Maddi Ramesh and corporate guarantee of K.S. Subbiah Pillai and Co (India) Limited, Chennai]	6.378	6.421
ICICI Bank, Vijaywada
Vehicle Loan [Secured by hypothecation of vehicle]	2.853	0.000
Total	20.015	31.394

UNSECURED LOAN
From Directors, Members and Holding Company	82.343	128.276
Advance From Customers	54.180	54.180
Total	136.523	182.456


Banking Relations :	--

Auditors :
Name :	Umamaheswara Rao and Company Chartered Accountants
Address :	Samatha, 6^th Line, Main Road, Brodiepet, Guntur-522002, Andhra Pradesh, India
Pan No.:	AAAFU4353L

Holding Company :	K S Subbiah Pillai and Company (India) Limited

Associates / Subsidiaries :	· Maddi Lakshmaiah and Company Limited · Coromandel Agro Products and Oil Limited · M L Exports

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 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		20.000	20.000	20.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		112.536	77.134	49.475
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		132.536	97.134	69.475
LOAN FUNDS
1] Secured Loans		20.015	31.394	76.647
2] Unsecured Loans		136.523	182.456	228.500
TOTAL BORROWING		156.538	213.850	305.147
DEFERRED TAX LIABILITIES		41.550	42.659	32.563

TOTAL		330.624	353.643	407.185

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		321.027	331.525	345.912
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.410	0.621	0.000
	Cash & Bank Balances	0.892	1.093	2.992
	Other Current Assets	50.521	0.076	0.008
	Loans & Advances	3.293	57.918	90.470
Total Current Assets		55.116	59.708	93.470
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	44.144	37.590	32.197
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	1.375	0.000	0.000
Total Current Liabilities		45.519	37.590	32.197
Net Current Assets		9.597	22.118	61.273

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		330.624	353.643	407.185

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		License Fee	35.827	35.827	52.349
		Amenities Fee	35.827	35.827	54.884
		Other Income	6.912	2.134	0.255
		Exchange Fluctuation Gain	0.000	6.402	0.000
		TOTAL (A)	78.566	80.190	107.488

Less	EXPENSES
		Administrative Expenses	3.148	3.112	3.272
		Rent on Buildings	0.060	0.060	42.138
		Loss Due to Exchange Fluctuation	0.000	0.000	20.170
		TOTAL (B)	3.208	3.172	65.580

Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		75.358	77.018	41.908

Less	FINANCIAL EXPENSES (D)		16.982	16.209	22.411

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		58.376	60.809	19.497

Less/ Add	DEPRECIATION/ AMORTISATION (F)		15.241	14.387	14.387

	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		43.135	46.422	5.110

Less	TAX (H)		11.997	18.763	2.276

	PROFIT / (LOSS) AFTER TAX (G-H) (I)		31.138	27.659	2.834

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.134	0.275	0.441

Add	MAT CREDIT ADJUSTMENTS		4.264	0.000	0.000

Less	APPROPRIATIONS
		Transfer to General Reserve	35.000	27.800	3.000
	BALANCE CARRIED TO THE B/S		0.536	0.134	0.275

	Earnings / (Loss) Per Share (Rs.)		15.57	13.83	1.42

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	39.63	34.49	2.64

Net Profit Margin (PBT/Sales)	(%)	60.20	64.79	4.77

Return on Total Assets (PBT/Total Assets}	(%)	11.47	11.87	1.16

Return on Investment (ROI) (PBT/Networth)		0.33	0.47	0.07

Debt Equity Ratio (Total Liability/Networth)		1.52	2.59	4.85

Current Ratio (Current Asset/Current Liability)		1.21	1.59	2.90

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	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	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
31) PAN of Proprietor/Partner/Director, if available	No
32) Passport No of Proprietor/Partner/Director, if available	No
33) Voter ID No of Proprietor/Partner/Director, if available	No

NOTE:

The registered office of the company has been shifted from D. No. 27-8-17, III Lane, Kannavari Thota, Guntur-522004, Andhra Pradesh, India to the present address w.e.f. 14.07.2006.

REVIEW OF OPERATIONS:

During the year, the company earned Rs.71.653 Millions (Previous year Rs.71.653 Millions) by way of License fee and Amenities fee from "Vodafone Essar Limited, Mumbai by leasing out the Information Technology Park measuring 90,300 Sq Ft. in Lower Parel, Central Mumbai.

The company is regular in meeting commitments to the Banks who have financed the acquisition of properly at Lower Parel, Central Mumbai. The company has incurred exchange loss on account of foreign currency rate variance amounting to Rs.0.067 Million (Previous year exchange gain of Rs.6.403 Millions during the year.)

CONTINGENT LIABILITIES:

The company has given collateral security to Indian Overseas Bank , Guntur on behalf of K S Subbiah Pillai and Company (India) Limited in which three Directors are interested as Directors and one of the Directors is interested as Managing Director and also extended collateral security to M L Exports in which all the directors are interested as Partners, for advances made and to be made to K S Subbiah Pillai and Company (India) Limited, Chennai and to M L Exports, Chennai by the above said Bank by deposition of title deeds of the company relating to Fixed Assets i.e., Land and Buildings situated at Lower Parel, Central Mumbai. The contingent liability of the company is to the extent of the residual value of the Properties offered as Collateral Security to the said Bank.

FIXED ASSETS:

· Land

· Buildings

· Vehicles

· Plant and Machinery

· Furniture and Fixtures

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.56.37
UK Pound	1	Rs.87.44
Euro	1	Rs.68.05

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	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	NO
--AFFILIATION	YES/NO	YES
--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.

MIRA INFORM REPORT

0.000

0.410

0.892

50.521

3.293

55.116

44.144

0.000

1.375

45.519

9.597

39.63

60.20

11.47

0.33

1.52

1.21

Unit