MIRA INFORM REPORT

Report Date :

05.06.2012

IDENTIFICATION DETAILS

Name :	BHOLA SINGH JAIPRAKASH CONSTRUCTION LIMITED
Registered Office :	1^ST Floor, Murli Bhawan, 10-A, Ashok Marg, Lucknow – 226001, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.04.1989
Com. Reg. No.:	20-010674
Capital Investment / Paid-up Capital :	Rs. 49.500 Millions
CIN No.: [Company Identification No.]	U45201UP1989PLC010674
Legal Form :	A closely held public limited liability company
Line of Business :	Engineers and Contractors
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Maximum Credit Limit :	USD 1300000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Financials position of the company is sound. 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 small to mediocre 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

LOCATIONS

Registered Office / Head Office:	1^ST Floor, Murli Bhawan, 10-A, Ashok Marg, Lucknow – 226001, Uttar Pradesh, India
Tel. No.:	91-522-2288732/2286306/2286666
Fax No.:	91-522-2286731
E-Mail :	helpdesk.lko@thesalahkars.com kr_rastogi@rediffmail.com
Website :
Branch Office 1:	3-A, Narnarayan Society, Gotri Road, Baroda – 390021, Gujarat, India
Tel. No.:	91-265-2352982/2330653
Fax No.:	91-265-2335403
Branch Office 2:	D-7367, Sector – D, Pkt- 7, Vasant Kunj, New Delhi – 110070, India
Tel. No.:	26898447/26138695/26130914
Branch Office 2:	103, Lane No.2, Kehar Singh Estate, Sal\idulajah, New Delhi – 110030, India
Tel. No.:	91-11-47215555
Fax No.:	91-11-29532064/46150553

DIRECTORS

As on 30.09.2011

Name :	Mrs. Madhuri Singh
Designation :	Director
Address :	A-2/40, Vishal Khand, Gomti Nagar, Lucknow – 226010, Uttar Pradesh, India
Date of Birth/Age :	30.09.1957
Date of Appointment :	01.08.1998
DIN No.:	00191479

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U28939UP1996PTC021145	B.J. IMPEX (INDIA) PRIVATE LIMITED	Director	20-12-96	20-12-96	-	Strike off	NO
2	U65910UP1996PTC021144	INDUTARA INFRASTRUCTURE PRIVATE LIMITED	Director	20-12-96	20-12-96	02-01-09	Active	NO
3	U29113UP1998PTC023495	M.A.R.S. TELEACC PRIVATE LIMITED	Director	26-05-98	26-05-98	-	Active	NO
4	U45201UP1989PLC010674	BHOLA SINGH JAIPRAKASH CONSTRUCTION LIMITED	Director	01-08-98	01-08-98	-	Active	NO
5	U32302UP2000PTC025046	M A R S TELELINK PRIVATE LIMITED	Director	13-01-00	13-01-00	-	Strike off	NO
6	U45203UP2003PTC027291	B.J. PROJECTS AND INFRASTRUCTURE PRIVATE LIMITED	Director	27-02-03	27-02-03	-	Strike off	NO
7	U74120UP2009PTC037400	BHOLASINGH INDUSTRIES PRIVATE LIMITED	Director	20-05-09	20-05-09	-	Active	NO
8	U45400UP2010PTC039776	B B S INFRATECH PRIVATE LIMITED	Director	05-03-10	05-03-10	-	Active	NO

Name :	Mr. Rajiv Prakash Singh
Designation :	Director
Address :	A-2/40, Vishal Khand, Gomti Nagar, Lucknow – 226010, Uttar Pradesh, India
Date of Birth/Age :	16.01.1957
Date of Appointment :	09.04.1989
DIN No.:	00211210

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U45201UP1989PLC010674	BHOLA SINGH JAIPRAKASH CONSTRUCTION LIMITED	Managing director	04-02-08	17-04-89	-	Active	NO
2	U65910UP1996PTC021146	FUTURE FINLEASE CONSULTANTS PRIVATE LIMITED	Director	20-12-96	20-12-96	22-01-09	Active	YES
3	U32302UP2000PTC025046	M A R S TELELINK PRIVATE LIMITED	Director	13-01-00	13-01-00	-	Strike off	NO
4	U65910UP1996PTC021144	INDUTARA INFRASTRUCTURE PRIVATE LIMITED	Director	15-01-08	15-01-08	02-01-09	Active	NO
5	U29113UP1998PTC023495	M.A.R.S. TELEACC PRIVATE LIMITED	Additional director	15-01-08	15-01-08	-	Active	NO
6	U74120UP2009PTC037400	BHOLASINGH INDUSTRIES PRIVATE LIMITED	Director	20-05-09	20-05-09	-	Active	NO

Name :	Mr. Abhay Raj Singh
Designation :	Director
Address :	74A/33, Pura Garedia, Allahabad – 211002, Uttar Pradesh, India
Date of Birth/Age :	10.10.1952
Date of Appointment :	09.04.1989
DIN No.:	00294268

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U45201UP1989PLC010674	BHOLA SINGH JAIPRAKASH CONSTRUCTION LIMITED	Director	17-04-89	17-04-89	-	Active	NO

Name :	Mr. Rajesh Kumar Singh
Designation :	Director
Address :	944/DH, Civil Lines, Raebareilly – 229001, Uttar Pradesh, India
Date of Birth/Age :	02.01.1959
Date of Appointment :	01.08.1998
DIN No.:	00211175

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U28939UP1996PTC021145	B.J. IMPEX (INDIA) PRIVATE LIMITED	Director	20-12-96	20-12-96	-	Strike off	NO
2	U45201UP1989PLC010674	BHOLA SINGH JAIPRAKASH CONSTRUCTION LIMITED	Director	01-08-98	01-08-98	-	Active	NO
3	U74120UP2009PTC037400	BHOLASINGH INDUSTRIES PRIVATE LIMITED	Director	20-05-09	20-05-09	-	Active	NO

Name :	Mr. Thakur Bux Singh
Designation :	Director
Address :	Gram Sheetal Khera, Majre Pahuri, Thana Lalganj, Raebareilly – 229001, Uttar Pradesh, India
Date of Birth/Age :	07.02.1951
Date of Appointment :	01.08.1998
DIN No.:	00256010

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U45201UP1989PLC010674	BHOLA SINGH JAIPRAKASH CONSTRUCTION LIMITED	Director	01-08-98	01-08-98	-	Active	NO

Name :	Daljeet Singh
Designation :	Director
Address :	3/A, Nar Narayan Society, Gotri Road, T.B. Sanitorium, Gorwa, Baroda – 390021, Gujarat, India
Date of Birth/Age :	27.01.1966
Date of Appointment :	27.09.2001
DIN No.:	00255871

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U45201UP1989PLC010674	BHOLA SINGH JAIPRAKASH CONSTRUCTION LIMITED	Director	27-09-01	27-09-01	-	Active	NO

Name :	Mr. Kunwar Bahadur Singh
Designation :	Director
Address :	10, Balrampur House, Allahabad – 211002, Uttar Pradesh, India
Date of Birth/Age :	08.07.1969
Date of Appointment :	27.09.2001
DIN No.:	00211743

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U45201UP1989PLC010674	BHOLA SINGH JAIPRAKASH CONSTRUCTION LIMITED	Director	27-09-01	27-09-01	-	Active	NO

Name :	Mr. Dilip Singh
Designation :	Director
Address :	407, Mumfordganj, Allahabad – 211001, Uttar Pradesh, India
Date of Birth/Age :	06.01.1962
Date of Appointment :	09.01.2004
DIN No.:	00211693

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U45201UP1989PLC010674	BHOLA SINGH JAIPRAKASH CONSTRUCTION LIMITED	Director	09-01-04	09-01-04	-	Active	NO
2	U74120UP2009PTC037400	BHOLASINGH INDUSTRIES PRIVATE LIMITED	Director	20-05-09	20-05-09	-	Active	NO
3	U45400UP2010PTC039776	B B S INFRATECH PRIVATE LIMITED	Director	05-03-10	05-03-10	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Equity Shareholders	No. of Shares
Abhay Raj Singh	112500
Chhatra Pal Singh	90000
Ashok Kumar Singh	67500
Rekha Singh	45000
Rajiv Prakash Singh	498750
Indu Prakash Singh	56250
Kallu Ram	6750
Tribhuwan Singh	45000
Thakur Bux Singh	65625
Kunwar Bahadur Singh	28125
Kuldeep Singh	420000
Madhuri Singh	813750
Janki Devi	22500
Leela Singh	15750
Urmila Singh	150000
Rajesh Kumar Singh	37500
Total	2475000

Names of Preference Shareholders	No. of Shares
Abhay Raj Singh	190000
Chhatra Pal Singh	90000
Ashok Kumar Singh	135000
Rekha Singh	185000
Rajiv Prakash Singh	190000
Kallu Ram	144000
Tribhuwan Singh	60000
Thakur Bux Singh	60000
Kunwar Bahadur Singh	119000
Kuldeep Singh	130000
Madhuri Singh	256000
Janki Devi	424000
Leela Singh	23000
Urmila Singh	16000
Rajesh Kumar Singh	99000
Daljeet Singh	18000
Sushma Singh	17000
Neelam Singh	12000
Jyoti Singh	7000
Laxmi Devi	15000
Vijay Laxmi Singh	15000
R.P. Singh (HUF)	83000
Abhimanyu Singh	50000
Sandeep Singh	60000
Turshar Singh	60000
Dilip Singh	17000
Total	2475000

As on 30.09.2011

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 :

Engineers and Contractors.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Oriental Bank of Commerce, Overseas Branch, M-33, Greater Kailash Part 2, New Delhi – 110048, India
• State Bank of Travancore, R.K. Puram Branch, 1^st Floor, Ansal Chambers – I, 3, Bhikaji Cama Placle, New Delhi – 110066, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Term Loan from Others	36.952	74.586
Loan taken for Fixed Assets	276.626	246.609
Hire Purchase Installment	12.339	13.661
Total	325.917	334.856
Unsecured Loans	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Others	107.802	109.803
Total	107.802	109.803

Banking Relations :	--
Auditors :
Name :	Singh and Rastogi Chartered Accountant
Address :	Room No. 201, Murli Bhawan, 10-A, Ashok Marg, Lucknow – 226001, Uttar Pradesh, India
Tel. No.:	91-522-2286666/4075942
PAN.:	AAGFS8285D

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2525000	Equity Shares	Rs.10/- each	Rs. 25.250 Millions
2475000	Preference Shares	Rs.10/- each	Rs. 24.750 Millions
	Total		Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2475000	Equity Shares	Rs.10/- each	Rs. 24.750 Millions
2475000	Preference Shares	Rs.10/- each	Rs. 24.750 Millions
	Total		Rs. 49.500 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		49.500	49.500	49.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		276.228	255.510	235.783
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		325.728	305.010	285.283
LOAN FUNDS
1] Secured Loans		325.917	334.856	303.750
2] Unsecured Loans		107.802	109.803	46.003
TOTAL BORROWING		433.719	444.659	349.753
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		759.447	749.669	635.036
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		105.283	180.544	183.227
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	54.315	91.780	56.892
	Sundry Debtors	499.477	446.081	311.984
	Cash & Bank Balances	139.109	107.324	143.114
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	78.212	63.134	69.598
Total Current Assets		771.113	708.319	581.588
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	111.529	134.287	127.899
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	5.420	4.907	1.880
Total Current Liabilities		116.949	139.194	129.779
Net Current Assets		654.164	569.125	451.809
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		759.447	749.669	635.036

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1190.833	816.021	687.825
		Other Income	3.973	8.969
		TOTAL (A)	1194.806	824.990	687.825
Less	EXPENSES
		Consumption materials changes inventories	446.534	244.140
		Manufacturing service costs	45.557	24.989
		Contract Cost	0.000	0.011	643.296
		Employee related expenses	540.262	407.882
		Administrative selling other expenses	102.503	88.466
		TOTAL (B)	1134.856	765.488	643.296
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		59.950	59.502	NA
Less	FINANCIAL EXPENSES (D)		22.469	19.637	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		37.481	39.865	44.529
Less/ Add	DEPRECIATION/ AMORTISATION (F)		6.864	12.038	13.502
	PROFIT BEFORE TAX (E-F) (G)		30.617	27.827	31.027
Less	TAX (I)		9.900	8.100	8.450
	PROFIT AFTER TAX (G-I) (J)		20.717	19.727	22.577
	Earnings Per Share (Rs.)		65.80	7.97	9.00

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.73	3.37	4.51
Net Profit Margin (PBT/Sales)	(%)	2.57	3.41	NA
Return on Total Assets (PBT/Total Assets}	(%)	3.49	3.13	4.06
Return on Investment (ROI) (PBT/Networth)		0.09	0.09	0.11
Debt Equity Ratio (Total Liability/Networth)		1.69	1.91	1.68
Current Ratio (Current Asset/Current Liability)		6.59	5.09	4.48

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	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	No
Name of Person Contacted	No
Designation of Contact person	No
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	No
Major Customers	No
Payments Terms	No
Export/ Imports Details (If applicable)	No
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	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

PERFORMANCE AND FUTURE PROJECTION

Board of Directors are following the principle and path shown by the beloved founder chairman Late Shri Bhola Singh Ji in true spirit for the growth of the company in the various fields of construction viz highway projects, Thermal power plants, Hydro power plants. Airport works etc. As the company provides comprehensive civil engineering works in various fields since its inception in May 1963, the company over the years has made steady progress and has diversified into new areas of business such as combined Cycle power plants, steel structure works, wagon manufacturing and recently into Diaphragm wall construction.

Presently the organization has 12 ongoing projects worth more than Rs 3500.000 Millions. They have been able to constantly bag projects over the years and this financial year was no different on this aspect, the organization was successful in taking up two new projects of a new kinds i.e construction of underpass at Rajnigandha crossing with a total project cost of Rs. 427.300 Millions and also the complete package for the civil works and structural works for a combined cycle power plant from BHEL in the state of Gujarat with a project cost of Rs 850.000 Millions. Both these projects were and are of great importance in the career graph of the company as the organization with these projects was able to once again retain an old client BHEL which has been instrumental in the growth of the organization. This power project with BHEL was the organizations first attempt to complete the overall power block area works without bring any external agency, and they are pleased to inform they that they have been able to give a progress based on which not only did BHEL issue us an appreciation letter but has also increased the scope of work by almost Rs. 400.000 Millions. This project has proved to be a great confidence booster for us as this work was awarded lo the organization against stiff competition i.e 12 other organizations bid for the same, with successful completion of this work the organization will move one Step closer towards the ultimate goal of becoming an EPC contractor for Thermal Power plants the work of construction of an underpass at Rajnigandha crossing in NOlDA is also nearing completion upon which this project will prove to be a major milestone on the growth curve of the organization they with this wore made an entry into the field of Urban I transport when like the power sector has huge growth potential due to the major thrust of the government towards the same. Upon successful completion of this project the organization will have the special distinction of carrying out the work of Diaphragm wall construction which only a selected few construction companies have achieved in the past.

The works at NTPC Sipat which happens to be one of the troubled projects with the organization is fast approaching completion and they are putting in the best efforts to compete the works and hand over the site to the client within the next financial year.

This project as they are already aware had run into rough weather mainly due to the erratic price rise of construction materials, they have already taken up various issues related lo this problem with the client and have also started the arbitration proceeding with the clients so as to sort out the problems at the earliest. Similarly, the works at the site of NTPC Barh is nearing completion and they are positive that they will be able to hand over this site to the client within this financial year.

This year they have been able to bag a new contract with a joint venture with KEC International which is a leading player in transmission line sector and they are further aggressively bidding for more projects with them.

This financial year has some very positive developments one of which is the dosing of the case against illegal termination of their contract with NHAI where they have won the case in DPB against NHAI AND NHAI has agreed to negotiate further with them and also if successful they have agreed not to challenge the case further.

Keeping in mind the banking difficulty the organization is facing due to this Mega termination the board had decided to form active joint ventures with various companies and the joint venture with KEC international is on the same line, the highlight of this venture is that the company is lending its credentials and in lieu of that is getting The financial support from the joint venture partner lo execute this project.

This year even with the absence of banking lines the organization has been able to achieve the highest ever financial turnover of more than 1000.000 Millions thus once again proving that they are a group of dedicated individuals working collectively during these difficult times to lake the organization to The next level and also to make it the leading infrastructure company with the values of our founder chairman Late Shri Bhola Singh Ji intact. They once again assure the that they are committed (over come the financial difficulties and are sure that the next years directors report will see us away from all troubles and with even better results.

They once again would like to thank all the Bankers, vendors and employees who have supported us during this testing time, and would once again like to assure all of that with the immense and unshakable faith shown in us by all our well wishers will only and surely graduate the organization to the next level of success.

FORM 8

Corporate identity number of the company	U45201UP1989PLC010674
Name of the company	BHOLA SINGH JAIPRAKASH CONSTRUCTION LIMITED
Address of the registered office or of the principal place of business in India of the company	1^ST Floor, Murli Bhawan, 10-A, Ashok Marg, Lucknow – 226001, Uttar Pradesh, India
This form is for	Creation of charge
Type of charge	Immovable property Any interest in immovable property Book Debts Movable Property Floating Charge
Particular of charge holder	Oriental Bank Of Commerce, Overseas Branch, M-33 Greater Kailash Part 2, New Delhi – 110048, India Email: sehgalsc@yahoo.co.in
Nature of description of the instrument creating or modifying the charge	Agreement For Funded Interest Term Loan
Date of instrument Creating the charge	18.06.2011
Amount secured by the charge	Rs. 5.934 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest @ 15.25% pa with monthly rests. penal interest 2% pa Terms of Repayment Loan is to be repaid in 48 monthly installments of Rs. 156250/- each plus interest as and when due to commence from April, 2010 Margin As Stipulated By The Bank Extent and Operation of the charge 100% Others Fitl relates to conversion of interest on cc for July, 09 amounting to Rs. 0.611 Millions and further interest in cc and WCTL accounts from August, 2009 till March, 2010
Short particulars of the property charged	Extension of charge on pari passu basis over present & future fixed assets of the company including immovable properties already mortgaged with SBI the lead bank as per details in resolution/ sanction Extension of pari passu charge over properties in the names of promoters/ guarantors which are already mortgaged with SBI, the lead bank as per details in the resolution/ letter of sanction

FIXED ASSETS

• Land
• Office Building
• Plant and Machinery
• Earth moving heavy Machinery
• Vehicles
• Furniture and Other Equipments

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. 55.51
UK Pound	1	Rs. 85.29
Euro	1	Rs. 68.86

INFORMATION DETAILS

Report Prepared by :

ACH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		53

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.