MIRA INFORM REPORT

Report Date :

14.06.2012

IDENTIFICATION DETAILS

Name :	PRAKASH CHEMICALS PRIVATE LIMITED
Registered Office :	1^st Floor, Induchacha House, Opposite Chhani Octroi Naka, Vadodara – 390 002, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.04.1994
Com. Reg. No.:	04-021914
Capital Investment / Paid-up Capital :	Rs.9.965 millions
CIN No.: [Company Identification No.]	U24231GJ1994PTC021914
TAN No.: [Tax Deduction & Collection Account No.]	BRDP01069F
PAN No.: [Permanent Account No.]	AABCP1987H
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Chemicals.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 160000
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 for small 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 :	1^st Floor, Induchacha House, Opposite Chhani Octroi Naka, Vadodara – 390 002, Gujarat, India
Tel. No.:	91-265-2771642
Mobile No.:	91-9723642365 (Mr. Jitendra)
Fax No.:	91-265-2772992
E-Mail :	pcpl@prakashchemicals.com jitendra@prakashchemicals.com
Website :	www.prakashchemicals.com
Location :	Owned

DIRECTORS

As on 27.09.2011

Name :

Mr. Prakash Chunilal Shah

Designation :

Managing Director

Address :

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

Date of Birth/Age :

03.11.1945

Date of Appointment :

28.02.1995

DIN No.:

00382086

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

Name :

Mr. Dilip Kumarpal Shah

Designation :

Director

Address :

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

Date of Birth/Age :

21.09.1956

Date of Appointment :

28.02.1995

DIN No.:

00308782

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

Name :

Mr. Hitesh Chandrakant Shah

Designation :

Managing Director

Address :

1, Bhagyalaxmi Society, Near Akota Garden, Vadodara, Gujarat, India

Date of Birth/Age :

17.07.1958

Date of Appointment :

28.02.1995

DIN No.:

00315534

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

Name :

Mr. Atul Chandrakant Shah

Designation :

Managing Director

Address :

21, Charotar Society, Old Padra Road, Vadodara – 390 020, Gujarat, India

Date of Birth/Age :

10.11.1959

Date of Appointment :

28.02.1995

DIN No.:

00411580

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

Name :

Pinakin Kumarbhai Shah

Designation :

Director

Address :

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

Date of Birth/Age :

18.09.1961

Date of Appointment :

28.02.1995

DIN No.:

00411629

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

Name :

Mr. Manish Kumarpal Shah

Designation :

Director

Address :

3 Spring Valley, Productivity Road, Vadodara, Gujarat, India

Date of Birth/Age :

13.12.1968

Date of Appointment :

28.02.1995

DIN No.:

00315521

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

Name :

Mr. Chirag Prakash Shah

Designation :

Managing Director

Address :

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

Date of Birth/Age :

12.10.1973

Date of Appointment :

28.02.1995

DIN No.:

00308856

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

Name :

Mr. Hardik Suryakant Shah

Designation :

Director

Address :

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

Date of Birth/Age :

02.03.1977

Date of Appointment :

10.02.1996

DIN No.:

00315509

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

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2011

Names of Shareholders	No. of Shares
Prakash Shah	38034
Dilip Shah	55517
Hitesh Shah	83654
Atul Shah	71017
Pinakin Shah	46016
Manish Shah	113686
Chirag Shah	110997
Arunaben Shah	76766
Sushamaben Shah	40683
Prakash Shah	10000
Dilip Shah	28700
Atul Shah	12637
Pinakin Shah	30033
Hardik Shah	113595
Nitaben Shah	41346
Devalben Shah	41346
Bhavanaben Shah	46114
Prakash Shah	100
Chirag Shah	2737
Arunaben Shah	100
Bhavanaben Shah	100
Amiben Shah	11314
Sushmaben Shah	100
Pinakin Shah	2737
Nehaben Shah	11266
Pratikshaben Shah	11405
Total	1000000

As on 27.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Trader of Chemicals.

Products :

Item Code No. (ITC Code)	292141
Product Description	Aniline
Item Code No. (ITC Code)	291510
Product Description	Formic Acid
Item Code No. (ITC Code)	283410
Product Description	Sodium Nitrite

GENERAL INFORMATION

No. of Employees :

30 (Approximately)

Bankers :

v Bank of Baroda, IBB Branch, Sayajigunj, Vadodara – 390 005, Gujarat, India

v HDFC Bank Limited

v Axis Bank Limited

Facilities :

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Bank of Baroda, IBB, C.C. A/c (Secured against Inventories Book Debts, Movable Furniture and Fixtures, both present and future, Warehouse at Ranoli, and guaranteed by all directors of the company.)	35.814	10.673
HDFC Bank Car Loan	0.000	0.138
Axis Bank Car Loan (Secured against Car) (Installment due during next twelve Months Rs.0.227 million; P.Y. NIL)	0.570	0.000
ICICI Bank Car Loan	0.000	0.026
SBI Bank Car Loan (Secured against Car) (Installment due during next twelve Months Rs.0.302 million; P.Y. NIL)	0.723	0.000
Kotak Mahindra Rime Limited - Car loan (Installment due during next twelve Months Rs.0.133 million; P.Y. Rs.0.133 million)	0.200	0.307
Total	37.307	11.144

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Intercorporate Loans	0.843	1.951
Loans from Directors and their relatives (including interest accrued of Rs.1.311 millions; P.Y. Rs.1.506 millions)	7.305	11.450
Total	8.148	13.401

Banking Relations :	--
Auditors :
Name :	C.R. Sharedalal and Company Chartered Accountants
Address :	101-102, Parishram , 5-B Rashmi Society, Mithakhali Six Roads, Navrangpura, Ahmedabad – 380 009, Gujarat, India
Tel. No.:	91-79-26446560
Fax No.:	91-79-26449570
E-Mail :	jcs@crsharedalalco.com
Website :	www.crsharedalalco.com
Income-tax PAN of auditor or auditor's firm :	AAAFC6902F
Associates/Subsidiaries :	v Prakash Chemical Agency v Prakash Chemical International

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
990000	Equity Shares (Equity Shares of Rs.10/- each fully paid up)	Rs.10/- each	Rs.9.900 millions
10000	Equity Shares (Equity Shares of Rs.10/- each Rs.6.50/- paid up)	Rs.6.50/- each	Rs.0.065 million
	Total		Rs.9.965 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		9.965	9.965	9.965
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		31.227	23.370	16.581
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		41.192	33.335	26.546
LOAN FUNDS
1] Secured Loans		37.307	11.144	16.511
2] Unsecured Loans		8.148	13.401	20.391
TOTAL BORROWING		45.455	24.545	36.902
DEFERRED TAX LIABILITIES		0.804	0.570	0.607
TOTAL		87.451	58.450	64.055
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.220	5.621	5.286
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.300	0.100	0.100
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	37.797	27.328	17.021
	Sundry Debtors	97.089	75.518	58.091
	Cash & Bank Balances	12.188	6.824	5.309
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	16.877	17.145	11.809
Total Current Assets		163.951	126.815	92.230
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	54.794	62.177	27.665
	Other Current Liabilities	25.026	5.831	2.628
	Provisions	4.200	6.078	3.268
Total Current Liabilities		84.020	74.086	33.561
Net Current Assets		79.931	52.729	58.669
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		87.451	58.450	64.055

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	432.583	310.856	264.439
		Other Income	3.840	4.900
		TOTAL	436.423	315.756	264.439
Less	EXPENSES
		Office Expenses
		Administrative Expenses	423.429	305.605	265.439
		Advertising Expenses
		TOTAL	423.429	305.605	265.439
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		12.994	10.151	(1.000)
Less/ Add	DEPRECIATION/ AMORTISATION		0.561	0.588	0.733
	PROFIT/ (LOSS) BEFORE TAX		12.433	9.563	(1.733)
Less	TAX		4.434	2.774	0.061
	PROFIT/ (LOSS) AFTER TAX		7.999	6.789	(1.794)
Less	Short Provision of Tax		0.142	0.000	(0.076)
	BALANCE TRANSFERRED TO GENERAL RESERVE		7.857	6.789	(1.870)
	IMPORTS
		Trading Goods/ Raw Materials	123.499	121.007	89.681
	TOTAL IMPORTS		123.499	121.007	89.681
	Earnings/ (Loss) Per Share (Rs.)		7.88	6.81	(1.88)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.83	2.15	(0.68)
Net Profit Margin (PBT/Sales)	(%)	2.87	3.08	NA
Return on Total Assets (PBT/Total Assets}	(%)	7.26	7.22	(1.78)
Return on Investment (ROI) (PBT/Networth)		0.30	0.29	(0.07)
Debt Equity Ratio (Total Liability/Networth)		3.14	2.96	2.65
Current Ratio (Current Asset/Current Liability)		1.95	1.71	2.75

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	Yes
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three year	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

CONTINGENT LIABILITIES: (As on 31.03.2011)

v Counter Guarantees – Rs.2.000 millions

v Bank of Baroda has issued Letter of Credit of Rs.136.659 millions against the margin money (Fixed Deposit) of Rs.11.227 millions.

FIXED ASSETS:

v Vehicles

v Office Equipment

v Furniture and Fixtures

v Computer (Old)

v Computer (New)

v Office Building

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.55.85
UK Pound	1	Rs.86.88
Euro	1	Rs.69.88

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		42

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.