MIRA INFORM REPORT

Report Date :

31.07.2012

IDENTIFICATION DETAILS

Name :	EXOTIC WEARS
Registered Office :	Village Bajra, Walla Palace, Rohan Road, Ludhiana – 141007, Punjab
Country :	India
Financials (as on) :	31.03.2012
Year of Establishment :	1998
Capital Investment / Paid-up Capital :	Rs.8.840 Millions
TIN No.:	03331057705
PAN No.: [Permanent Account No.]	AEHPS1748E
Legal Form :	Sole Proprietory Concern
Line of Business :	Manufacturer, Trader, Exporter and Importer of Knitted Fabrics, Knitted Garments and Related Products.
No. of Employees :	50 (Approximately)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established proprietory concern having satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The concern can be considered for normal 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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.

INFORMATION PARTED BY

Name :	Mr. Mukesh Dutt Sood
Designation :	Proprietor
Contact No.:	91-9814630945
Date :	30.07.2012

LOCATIONS

Registered Office :	Village Bajra, Walla Palace, Rohan Road, Ludhiana – 141007, Punjab, India
Tel. No.:	91-161-2691543
Mobile No.:	91-9814630945 (Mr. Mukesh Dutt Sood)
Fax No.:	Not Available
E-Mail :	exoticwears@yahoo.com
Area :	7200 sq. ft.
Location :	Owned
Factory :	Village Seera, Ludhiana – 141007, Punjab, India
Area :	13,500 sq. ft.
Location :	Owned

SOLE PROPRIETOR

Name :	Mr. Mukesh Dutt Sood
Designation :	Proprietor
Address :	Ludhiana, Punjab, India
Date of Birth/Age :	57 years
Qualification :	Law Graduates

BUSINESS DETAILS

Line of Business :	Manufacturer, Trader, Exporter and Importer of Knitted Fabrics, Knitted Garments and Related Products.
Exports :
Products :	· Knitted Fabrics · Knitted Garments
Countries :	· Europe · USA
Imports :
Products :	· Knitted Fabrics · Knitted Garments
Terms :
Selling :	Cash and Credit (30 days)
Purchasing :	Cash and Credit (30 days)

GENERAL INFORMATION

Suppliers :

· Sangat Dyeing House

· Surya Traders

· Sumeet Exports (India) Limited

Customers :

Wholesalers and Retailers

· Ashok Hosiery Private Limited

· D. K. Fashions Private Limited

· Dashmesh Hosiery works

· Deewan Knitwear

· Diksha Jnit Fab, Ludhiana

· Girish Hosiery Private Limited

· Metro Trading Company

· Manju Enterprises

· Sadhna Enterprises

· Vihesh Fabrics

· Vije Hosiery Mills

· Vardhman Hosiery Mills

No. of Employees :

50 (Approximately)

Bankers :

· State Bank of India

Ludhiana, Punjab, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
State Bank of India – MTL (Secured against Plant and Machinery)	0.645	1.073
State Bank of India – B/D (Secured against Debtors and Collaterally by Mortgage of Immovable Property)	1.499	0.791
State Bank of India – C/C (Secured against Stocks and Collaterally by mortgage of Immovable Property)	1.712	0.857
Kotak Mahindra Bank (Secured against hypothecation of Car)	0.404	0.556
Kotak Mahindra Bank (Secured against hypothecation of Car)	0.458	--
Total	4.718	3.277
Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Mukesh Dutt Sood and Sons (HUF)	0.000	1.499
Vinod Kumar	0.000	1.860
Nisha Sood	2.425	2.288
Yuvraj Sood	2.222	2.031
Nikita Sood	0.146	0.137
Namita Sood	0.683	0.493
Total	5.476	8.308

Banking Relations :	--
Auditors :
Name :	S. Jain and Company Chartered Accountant
Address :	Red Cross Bhawan, The Mall, Ludhiana, Punjab, India
Tel. No.:	91-161-2448228

CAPITAL STRUCTURE

Proprietors Capital Account	(AS ON 31.03.2012) (Rs. In Millions)
Mr. Mukesh Dutt Sood - Balance	8.840
Total	8.840

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FINANCIAL DATA

[all figures are in Rupees Millions]

Note: Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Proprietors Capital A/c		8.840	5.175	5.211
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		8.840	5.175	5.211
LOAN FUNDS
1] Secured Loans		4.718	3.277	4.996
2] Unsecured Loans		5.476	8.308	7.315
TOTAL BORROWING		10.194	11.585	12.311
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		19.034	16.760	17.522
APPLICATION OF FUNDS
		6.196	6.101	6.791
FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress
		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.062	3.525	3.274
	Sundry Debtors	6.865	7.611	7.095
	Cash & Bank Balances	0.169	0.182	0.259
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.225	0.184	0.408
Total Current Assets		13.321	11.502	11.036
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.223	0.622	0.122
	Other Current Liabilities	0.260	0.221	0.183
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.483	0.843	0.305
Net Current Assets		12.838	10.659	10.731
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		19.034	16.760	17.522

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	24.826	12.554	6.732
		Other Income	0.186	3.642	3.402
		TOTAL	25.012	16.196	10.134
Less	EXPENSES
		Cost of Goods Sold	18.996	11.271	5.603
		Consumable Stores	0.121	0.140	0.269
		Electricity Expenses	1.437	1.280	1.022
		Packaging Expenses	0.006	0.008	0.015
		Freight, Octroi and Cartage	0.005	0.005	0.021
		Outside Labour	0.008	0.002	0.000
		Generator Expenses	0.088	0.029	0.099
		Insurance	0.082	0.054	0.049
		Salaries	0.207	0.202	0.125
		Telephone and Mobile Expenses	0.033	0.052	0.033
		Other Expenses	2.461	1.643	1.689
		TOTAL	23.444	14.686	8.925
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.568	1.510	1.209
Less/ Add	DEPRECIATION/ AMORTISATION		0.804	0.763	0.745
	NET PROFIT		0.764	0.747	0.464

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.05	4.61	4.58
Net Profit Margin (PBT/Sales)	(%)	3.08	5.95	6.89
Return on Total Assets (PBT/Total Assets}	(%)	3.91	4.24	2.60
Return on Investment (ROI) (PBT/Networth)		0.09	0.14	0.09
Debt Equity Ratio (Total Liability/Networth)		1.21	2.40	2.42
Current Ratio (Current Asset/Current Liability)		27.58	13.64	36.18

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	Yes
Major Customers	Yes
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	No
Last Accounts filed at ROC	No
Major Shareholders, if available	No
PAN of Proprietor/Partner/Director, if available	No
Passport No of Proprietor/Partner/Director, if available	No
Voter ID No of Proprietor/Partner/Director, if available	No

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ASSESSMENT OF FINANCIAL REQUIREMENT

OPERATING STATEMENT

(RS. IN MILLIONS)

Particulars	2013	2014	2015
	(Projected)
Gross Sales (Net of Returns)
Domestic Sales	65.000	80.000	90.000
Export Sales	0.000	0.000	0.000
Total	65.000	80.000	90.000
Less: Excise Duty	0.000	0.000	0.000
Net Sales	65.000	80.000	90.000
%age rise/ fall in net sales as compared to previous year	161.82	23.08	12.50
Cost of Sales
Raw Materials (Including Stores and Other Items used in the process of Manufacturer)
Imported	0.000	0.000	0.000
Indigenous	56.676	66.755	74.100
Storage and Spares	0.317	0.390	0.439
Direct Labour (Factory, wages and salaries)	2.328	2.865	3.223
Power and Fuel	3.993	4.914	5.528
Repairs and Maintenance	0.021	0.026	0.029
Other Manufacturing Expenses	0.010	0.013	0.015
Depreciation	0.715	0.605	0.524
Sub – Total	64.059	75.568	83.858
Add: Opening Stocks in Process	0.800	1.753	2.090
Total	64.859	77.321	85.947
Deduct: Closing Stocks in Process	1.753	2.090	2.323
Cost of Production	63.107	75.231	83.624
Add: Opening Stock of Finished Goods	2.200	5.024	6.173
Sub Total	65.306	80.255	89.798
Deduct: Closing Stock of Finished Goods	5.024	6.173	6.907
Sub Total (Total Cost of Sales)	60.283	74.081	82.890
General, Administrative and selling Expenses	1.090	1.342	1.510
Sub- Total	61.373	75.423	84.400
Operating Profit before interests	3.627	4.577	5.600
Interests	1.390	1.690	1.625
Operating Profit after Interests	2.237	2.887	3.975
Add: Other Non-Operating Income	0.110	0.135	0.170
Deduct: Other Non-Operating Expenses	0.000	0.000	0.000
Profit before tax	2.347	3.022	4.145
Provision for taxes	0.000	0.000	0.000
Net Profit/ loss	2.347	3.022	4.145
Withdrawal / Previous year Adjustment	0.600	0.900	1.200
Cash Accruals	3.061	3.627	4.669
Retained Profit	1.746	2.122	2.945
Retained Profit/ Net Profit (% age)	74.43	70.22	71.05
Net Profit / Sales % age	3.61	3.78	4.61

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ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

Particulars	2013	2014	2015
	(Projected)
LIABILITIES
CURRENT LIABILITIES
Short term borrowings banks (Including bills purchased, discounted and excess borrowing placed on repayment basis)
- From Applicant Bank	13.000	13.000	13.000
- From Other Banks	--	--	--
(Of which BP and BD)
Sub Total (A)	13.000	13.000	13.000
Short Term borrowing- others	0.000	0.000	0.000
Creditors	0.590	0.695	0.772
Advance/ Progress Payments from Customers/ deposits from Dealers, Selling agents	0.011	0.011	0.011
Provision for taxation	0.000	0.000	0.000
Other Statutory Liabilities (Due within one year)	0.331	0.407	0.458
Deposits / Installments of Term Loans DPGs/ Debentures/ ECB/ ADR/ GDR (Due Within One Year)	0.000	0.000	0.000
Other Current Liabilities	0.021	0.026	0.029
SUB TOTAL (B)	0.953	1.140	1.270
TOTAL CURRENT LIABILITIES	13.953	14.140	14.270
TERM LIABILITIES
Debentures	--	--	--
Creditors for Capital Goods	0.000	0.000	0.000
Term Loan	0.000	0.000	0.000
Deferred sales Tax liabilities	0.000	0.000	0.000
Term Deposits	5.476	6.376	6.376
Other Term Liabilities	0.623	0.384	0.145
TOTAL TERM LIABILITIES	6.099	6.760	6.521
TOTAL OUTSIDE LIABILITIES	20.052	20.900	20.791
NET WORTH
Ordinary Share Capital/ Shares Application A/c	10.586	12.708	15.654
Reserve and Surplus	0.000	0.000	0.000
Share Premium	0.000	0.000	0.000
Capital Redemption Reserve	0.000	0.000	0.000
Surplus (+) Deficit (-) in Profit and Loss A/c	0.000	0.000	0.000
TOTAL NET WORTH	10.586	12.708	15.654
TOTAL LIABILITIES	30.639	33.608	36.445
ASSETS
CURRENT ASSETS
Cash and bank balances	0.500	0.500	0.500
Investment
- Receivables	10.833	13.333	15.000
- Export Receivables	0.000	0.000	0.000
INVENTORY
Raw Materials
- Imported	0.000	0.000	0.000
- Indigenous	4.723	5.563	6.175
Stock in Process	1.753	2.090	2.323
Finished Goods	5.024	6.173	6.907
Other Consumable Spares	0.000	0.000	0.000
Advances to suppliers	0.100	0.218	0.242
Advance Payment of Taxes	0.150	0.200	0.200
Other Current Assets	0.594	0.654	0.746
TOTAL CURRENT ASSETS	23.677	28.732	32.093
FIXED ASSETS
Gross Block	7.763	7.763	7.763
Depreciation to date	2.282	2.887	3.411
Net Block	5.481	4.876	4.352
OTHER NON CURRENT ASSETS
Investment / Book Debts Advance Deposits, which are not current Assets	1.481	0.000	0.000
Long term investments (In Subsidiaries)	0.000	0.000	0.000
Other non Current assets	0.000	0.000	0.000
TOTAL OTHER NON CURRENT ASSETS	1.481	0.000	0.000
Intangible Assets	0.000	0.000	0.000
TOTAL ASSETS	30.639	33.608	36.445
Tangible Net worth	10.586	12.708	15.654
Net Working Capital	9.724	14.592	17.823
Current Ratio	1.70	2.03	2.25
Total Outside Liabilities/ Tangible Net worth	1.89	1.64	1.33

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COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

(RS IN MILLIONS)

Particulars	2013	2014	2015
	(Projected)
A CURRENT ASSETS
Raw Materials
[a] Imported	0.000	0.000	0.000
Months Consumption	--	--	--
[b] Indigenous	4.723	5.563	6.175
Months Consumption	1.00	1.00	1.00
Other consumable spares
Excluding those included 1 above
[a] Imported	0.000	0.000	0.000
Months Consumption	--	--	--
[b] Indigenous	0.000	0.000	0.000
Months Consumption	--	--	--
Stock in process	1.753	2.090	2.323
Months cost of production	0.33	0.32	0.32
Finished goods	5.024	6.173	6.907
Months cost of sales	1.00	1.00	1.00
Receivable other than export and deferred receivables [including bills purchased and discounted by bankers]	10.833	13.333	15.000
Months domestic sales	2.00	2.00	2.00
[excluding deferred payment sales]
Export receivables [including bills purchased and discounted by Bankers]	0.000	0.000	0.000
Months Export Sales	--	--	--
Advances to suppliers of raw materials and stores/ spares consumable	0.100	0.218	0.242
Other current Assets including cash and bank balances and deferred receivable due within one year	1.244	1.354	1.446
TOTAL CURRENT ASSETS	23.677	28.732	32.093
B CURRENT LIABILITIES
[Other than bank borrowing for working capital]
Creditors for purchases of raw materials and stores and consumable spares	0.590	0.695	0.772
Months Consumption	0.13	0.13	0.13
Advances from customers	0.011	0.011	0.011
Statutory liabilities	0.331	0.407	0.458
Other current liability including short term borrowing dividend payable, installment of DPG public deposit, debentures etc	0.021	0.026	0.029
TOTAL	0.953	1.140	1.270

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VALUATION REPORT

Client

(Owner as per documents submitted to them for valuation)

Exotic Wears

Village Seerah, Rohan Road, Ludhiana, Tehsil and District Ludhiana

Properties Complete Address

(Property as shown and identified by Yuvraj Sood)

Prop. Situated at Seerah Road, Village Seerah (Near Rohan Road) Ludhiana

Tehs. and District Ludhiana

Land Measuring 2K-8-1/2M=1467.13 Sq. yds.

Date of Visit

14.07.2012

Date of Valuation

16.07.2012

Name of the owner(s) and his/their address(es) with phone numbers (Detail of share of each owner in case of joint ownership)

ownership details as per above 100% Ownership

Brief description of property

The area is average Residential and Commercial Area of the city with average surroundings and abadi and all facilities like water supply and sewerage are self arranged at owners cost the property has got Average saleability

Location of property

a) Plot No./ Survey No.

b) T. S. No./ Village

c) Ward/ Taluka

d) Mandal/ District

Prop. Situated At Seerah Road, Village Seerah (Near Rahon Road), Ludhiana, Tehs. and District Ludhiana

Land Measuring 2K-8-1/2M=1467.13 Sq. yds

Khata / Khatoni No.267/291

Rect 54, Killa No.15 (7-12),16/1(2-2)

As per Jamabandi of the year 1986-87

Waika Village Seerah

Postal address of the property

Prop. Situated At Seerah Road, Village Seerah (Near Rahon Road), Ludhiana, Tehs. and District Ludhiana

Land Measuring 2K-8-1/2M-1467.13 Sq. yds

City/ Town

A] Residential area

B] Commercial Area

C] Industrial Area

NA

NA

Yes, (Classification based on usage)

Classification of the area

A] High/ Middle/ Poor

B] Urban/ Semi-Urban/ Rural

Middle

Urban Facilities available

Coming under corporation limit/ Village Panchayat/ Municipalty

Not Under Municipal Corporation

Weather covered under any state Central Govt. enactments (e.g. Urban Land Ceiling Act) or notified under agency area/ scheduled area/ Cantonment area.

As per LSR

In case it is an agricultural land any conversion to house site plots is contemplated.

Already purchased by present owner from PFC as an Industrial Unit.

Boundaries of the property

North - Plot No. R. N. Duggal

South - Pakka Raod

East - Kacha Road

West - Agriculture Land

Dimensions of the site

North – Street (210’03”)

South – Neighbour (210’03”)

East – Neighbour (63’00”)

West – Seerah Road (63’00”)

Extent of the site

1467.13 sq yds (least of registry area and on site area is to be considered)

Extent of the site considered for Valuation (least of 14a and 14b)

1467.13 sq yds

Weather occupied by the owner/ Tenant

If occupied by the tenant since how long? Rent received per month.

Self Possessed property

(As claimed)

PART A

(VALUATION OF LAND)

Size of Plot

1467.13 Sq. yds.

Total Extent of the Plot

Rs.10000.00 Per Sq. yds.

Prevailing Market Rate

Rs.10000.00 Per Sq. yds.

Guideline rate obtained from register’s office (evidence to be enclosed)

Rs.1800.00 Per Sq. yds.

Assessed /adopted rate of valuation

Rs.10000.00 Per Sq. yds.

(Inclusive of 10% extra for two side open property)

Estimated value of land

Rs.14.671 Millions

PART B

(VALUATION OF BUILDING)

Type of building

(Residential/ Commercial/ Industrial)

Industrial Used

Type of construction

(Load bearing/ RCC/ Steel framed

Load bearing Brick Wall Structure

Year of construction

Ground Floor (1999-2000) Approximate

Number of floors & height of each

floor including basement if any

As per details in Calculation Part

Plinth area floor wise - Ground Floor

10400.00 Sq. ft.

Particulars of Covered Area	Plinth Area	Roof Height	Age of Building	Estimated Replacement Rate per Sq. ft.	Replacement cost	Net Value after Depreciation
Ground Floor	10400	14 ht	12 to 13	550.00	Rs.5.720 Millions	Rs.5.720 Millions
	BB Work in cement Sand, RCC Slab, Plastered, Wooden and steel White Wash PCC Flooring and Good sanitary Work
Total					Rs.5.720 Millions	Rs.5.720 Millions

Part C

(EXTRA ITEMS)

Portico

--

Ornamental Front Door

--

First Floor Mumty Only

--

Boundary Wall

Rs.0.126 Million

Extra Steel/ collapsible Gate

Rs.0.020 Million

Total

Rs.0.146 Million

PART C

(AMENITIES)

Wood Work in Drawing Room and Dining Room

--

Front Side Work of Marble Tiles

--

Extra Sink and Bath Tub

--

Total

--

Part D

(Miscellaneous)

Separate Toilet Room

--

Separate Lumber Room

--

Separate Water Tank

--

Tree/ Gardening

--

Landscaping

--

Total

--

PART F

(SERVICES)

Water Supply/ Sewerage Arrangements

Rs.0.035 Million

Submersible Pump

--

Extra Work

--

C. B. Deposits, Fittings etc.

Rs.0.090 Million 90 K/w

Pavement

--

Total

Rs.0.125 Million

TOTAL ABSTRACT OF ENTIRE PROPERTY

Part A Land

Rs.14.671 Millions

Part B Building

Rs.5.720 Millions

Part C Extra Items

Rs.0.146 Million

Part D Amenities

--

Part E Miscellaneous

--

Part F Services

Rs.0.125 Million

Total

Rs.20.662 Millions

MARKET VALUE OF PROPERTY

RS.20.660 MILLIONS

REALIZABLE VALUE OF PROPERTY

RS.15.495 MILLIONS

FORSED SALE VALUE OF PROPERTY

RS.14.462 MILLIONS

MIN RESERVED VALUE / REGISTERED VALUE

RS.8.632 MILLIONS

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FIXED ASSETS

· Building

· Computer

· Car

· Electrical Installation

· Fax

· Furniture and Fixture

· Mobile

· Plant and Machinery

· Scooter

· Weighing Scale

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.55.44
UK Pound	1	Rs.87.12
Euro	1	Rs.68.15

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	NIT

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	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		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.