MIRA INFORM REPORT

Report Date :

26.06.2012

IDENTIFICATION DETAILS

Name :	AL KABEER EXPORTS PRIVATE LIMITED
Registered Office :	91, Jolly Maker Chambers-II, 9th Floor, Nariman Point, Mumbai – 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	25.01.1979
Com. Reg. No.:	11-20951
Capital Investment / Paid-up Capital :	Rs.377.046 Millions
CIN No.: [Company Identification No.]	U51900MH1979PTC020951
PAN No.: [Permanent Account No.]	AABCA0500H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Frozen Meat, Mutton and Other Allied Items and Manufacture of Ready -to-Cook Products for Exports and Domestic Sales
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (32)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 2560000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a old established company having moderate track. There appears dip in the profitability of the company. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some cautions.

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 :	91, Jolly Maker Chambers-II, 9th Floor, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-22025768
Fax No.:	91-22-22028475
E-Mail :	alkabeermumbai@gmail.com
Website :	http://www.al-kabeer.com
Factory :	Village Rudraram, Patancheru Mandal, Sangareddy, District Medak, Hyderabad, Andhra Pradesh, India
Tel. No.:	91-40-45557950/45526352
Fax No.:	91-40-45549178
Overseas Offices :	Dubai, UAE Abu Dhabi Bahrain Riyadh Qatar Malaysia Lebanon United Kingdom Jeddah Dammam Muscat

DIRECTORS

As on 02.04.2012

Name :

Mr. Ghulamuddin Maqbool Shaikh

Designation :

Managing director

Address :

603, Anita Apartments, Street Dominic Road, Near Almeida Park, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Birth/Age :

27.06.1934

Qualification :

Leather Technologist

Date of Appointment :

25/01/1979

DIN No.:

00141142

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	U51900MH1979PTC020951	AL KABEER EXPORTS PRIVATE LIMITED	Managing director	22-12-11	25-01-79	-	Active	NO
2	U01100MH1979PTC020984	GREENACRES FARM PRODUCE AND TANNERIES PRIVATE LIMITED	Director	03-02-79	03-02-79	-	Active	NO
3	U51900MH1980PTC022437	AL-KABEER FOODS PROCESSING PRIVATE LIMITED	Director	28-03-80	28-03-80	-	Active	NO
4	U65990MH1983PTC030422	AL KABEER INVESTMENTS PRIVATE LIMITED	Director	15-07-83	15-07-83	-	Active	NO
5	U01210MH1991PTC062529	AL-KABEER LIVE STOCK FARM PRIVATE LIMITED	Director	17-07-91	17-07-91	-	Strike off	NO
6	U19100MH1996PTC102896	VISHAL TANNERIES PRIVATE LIMITED	Director	06-01-97	06-01-97	-	Active	NO
7	U65990MH1982PTC027475	GANGOLY INVESTMENTS PRIVATE LIMITED	Director	28-09-00	28-09-00	-	Active	NO

Name :

Mr. Satish Rajendranath Subberwal

Designation :

Director

Address :

D-28, Anand Niketan, New Delhi – 110 021, India

Date of Birth/Age :

04.03.1941

Qualification :

Graduate N.D.A.

Date of Appointment :

19/10/1981

DIN No.:

00141039

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	U51900MH1979PTC020951	AL KABEER EXPORTS PRIVATE LIMITED	Director	19-10-81	19-10-81	-	Active	NO
2	U51900MH1980PTC022437	AL-KABEER FOODS PROCESSING PRIVATE LIMITED	Director	24-10-81	24-10-81	-	Active	NO
3	U01100MH1979PTC020984	GREENACRES FARM PRODUCE AND TANNERIES PRIVATE LIMITED	Director	24-10-81	24-10-81	-	Active	NO
4	U65990MH1983PTC030422	AL KABEER INVESTMENTS PRIVATE LIMITED	Director	15-07-83	15-07-83	-	Active	NO
5	U01210MH1991PTC062529	AL-KABEER LIVE STOCK FARM PRIVATE LIMITED	Director	18-03-96	18-03-96	-	Strike off	NO
6	U65990MH1982PTC027475	GANGOLY INVESTMENTS PRIVATE LIMITED	Director	20-07-01	20-07-01	-	Active	NO

Name :

Mr. Asif Ghulamuddin Shaikh

Designation :

Director

Address :

601, Anita Apartments, Street, Dominic Road, Near Almeida, Bandra (West), Mumbai-400 050, Maharashtra, India

Date of Birth/Age :

25.11.1963

Qualification :

Graduate

Date of Appointment :

18/12/1999

DIN No.:

00141260

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	U01210MH1991PTC062529	AL-KABEER LIVE STOCK FARM PRIVATE LIMITED	Director	17-07-91	17-07-91	-	Strike off	NO
2	U19100MH1996PTC102896	VISHAL TANNERIES PRIVATE LIMITED	Director	27-09-96	27-09-96	-	Active	NO
3	U51900MH1979PTC020951	AL KABEER EXPORTS PRIVATE LIMITED	Director	18-12-99	18-12-99	-	Active	NO
4	U65990MH1983PTC030422	AL KABEER INVESTMENTS PRIVATE LIMITED	Director	29-08-11	01-02-11	-	Active	NO
5	U01100MH1979PTC020984	GREENACRES FARM PRODUCE AND TANNERIES PRIVATE LIMITED	Director	29-08-11	01-02-11	-	Active	NO
6	U65990MH1982PTC027475	GANGOLY INVESTMENTS PRIVATE LIMITED	Director	29-09-11	01-02-11	-	Active	NO
7	U51900MH1980PTC022437	AL-KABEER FOODS PROCESSING PRIVATE LIMITED	Director	29-09-11	01-02-11	-	Active	NO

Name :

Mr. Arshad Salar Siddiqui

Designation :

Director

Address :

43/12, Shram Safalya, Linking Road Extension, Santacruz (West), Mumbai-400 054, Maharashtra, India

Date of Birth/Age :

12.12.1964

Qualification :

B.Sc

Date of Appointment :

22/12/2011

DIN No.:

00376766

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	U19100MH1996PTC102896	VISHAL TANNERIES PRIVATE LIMITED	Director	27-09-96	27-09-96	-	Active	NO
2	U51900MH1979PTC020951	AL KABEER EXPORTS PRIVATE LIMITED	Director	30-12-11	22-12-11	-	Active	NO

Name :

Mr. Kuldip Singh Digamber Singh Brar

Designation :

Director

Address :

72, Robert Road, Colaba, Mumbai-400 005, Maharashtra, India

Date of Birth/Age :

29.09.1934

Qualification :

Graduate N.D.A.

Date of Appointment :

22/12/1993

DIN No.:

01146720

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	U51900MH1979PTC020951	AL KABEER EXPORTS PRIVATE LIMITED	Director	22-12-93	22-12-93	-	Active	NO
2	L51109WB1934PLC088167	J L MORISON (INDIA) LIMITED	Director	18-09-95	18-09-95	18-05-12	Active	NO
3	L29120MH1964PLC012955	HINDUSTAN COMPOSITES LIMITED	Director	10-09-09	30-09-08	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Jal Sorabji Bagli
Designation :	Manager
Address :	8/A, Parekh Building, Marzban Colony, Gilder Lane, Mumbai-400 008, Maharashtra, India
Date of Birth/Age :	14.09.1949
Date of Appointment :	12/04/1993
Pan No.:	AACPB6757B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.12.2011

Names of Shareholders	No. of Shares
Ghulamuddin Maqbool Shaikh jointly with Asif Ghulamuddin Shaikh	101,195
Afaaf International Limited	3,664,365
Altaf Ghulamuddin Shaikh jointly with Ayesha Altaf Shaikh	4,900
Total	3,770,460

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	97.32
Directors or relatives of Directors	2.68
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Frozen Meat, Mutton and Other Allied Items and Manufacture of Ready -to-Cook Products for Exports and Domestic Sales

Products :

Description of Product	Item code (ITC code No.)
FROZEN BUFFALO MEAT	20230
FROZEN SHEEP MEAT	20442
ANIMAL FAT	151610

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Frozen Meat and Mutton	Tons	NA	NA	--
- On Job Work	Tons	--	--	11879.07
- Own	Tons	--	--	11910.75
Buffalo Hides	Nos. (Per Day)	600	600	--
Sheep/Goat Skin	Nos. (Per Day)	2500	2500	--
Animal Fat	Nos. (Per Day)	35	35	--

Note: Production of Frozen Meat and Mutton does not include quantity consumed for Value Added Products.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai-400 005, Maharashtra, India

· Export Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai-400 005, Maharashtra, India

· Axis Bank, Nariman Point Branch, Atlanta Ground Floor, Nariman Point, Mumbai-400 021, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Rupee Term Loans Secured	80.071	84.114
Working Capital Loans Secured	716.546	738.615
Loans taken for Vehicles Secured	2.321	3.358
Interest accrued due Secured Loans	0.348	0.412
Total	799.286	826.499

Banking Relations :	--
Auditors :
Name :	Jitendra Sanghavi and Company Chartered Accountant
Address :	405, Churchgate Chambers, 5, New Marine Line, Mumbai – 400020, Maharashtra, India
Tel. No.:	91-22-22624578/22624649
Fax No.:	91-22-22665861
E-Mail :	jbsanghavi@vsnl.com
PAN.:	AABPS3104N
Associates:	· The Spice Trail Limited, United Kingdom · Cascade Marine Food LLC, United Arab Emirates · Sahar Enterprises LLC, United Arab Emirates · Cascade Marine Foods LLC · Spice Village
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives	· Al Kabeer International, India · AL-Kabeer Foods Processing Private Limited, India CIN No.: U51900MH1980PTC022437 · Gangoly Investments Private Limited CIN No.: U65990MH1982PTC027475 · Rafaat Enterprises, India · Rahoul Enterprises, India · Greenacres Farm Produce and Tanneries Private Limited, India CIN No.: U01100MH1979PTC020984 · Vishal Tanneries Private Limited · Al Kabeer Livestock Farm Private Limited

CAPITAL STRUCTURE

As on 30.12.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
4,000,000	Equity Shares	Rs.100/- each	Rs.400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,770,460	Equity Shares	Rs.100/- each	Rs.377.046 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		377.046	377.046	377.046
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		264.259	259.088	221.754
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		641.305	636.134	598.800
LOAN FUNDS
1] Secured Loans		799.286	826.499	658.985
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		799.286	826.499	658.985
DEFERRED TAX LIABILITIES		35.581	42.512	47.738
TOTAL		1476.172	1505.145	1305.523
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		361.491	400.340	404.681
Capital work-in-progress		257.905	125.480	30.560
INVESTMENT		0.298	0.298	0.298
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1033.319	930.949	898.118
	Sundry Debtors	100.937	79.572	86.903
	Cash & Bank Balances	191.911	80.735	43.586
	Other Current Assets	37.705	34.363	46.333
	Loans & Advances	893.633	772.260	752.081
Total Current Assets		2257.505	1897.879	1827.021
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	119.237	179.686	188.319
	Other Current Liabilities	1173.659	629.000	672.628
	Provisions	108.131	110.166	96.090
Total Current Liabilities		1401.027	918.852	957.037
Net Current Assets		856.478	979.027	869.984
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1476.172	1505.145	1305.523

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	4136.749	3983.941	3568.625
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		138.857	189.367	183.322
Less	FINANCIAL EXPENSES (D)		78.548	76.882	77.510
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		60.309	112.485	105.812
Less/ Add	DEPRECIATION/ AMORTISATION (F)		50.185	50.884	48.573
	PROFIT FOR THE YEAR		10.124	61.601	57.239
Less/ Add	Prior Period Items		(0.542)	(0.809)	(1.110)
	PROFIT BEFORE TAX (E-F) (G)		9.582	60.792	56.129
Less	TAX (I)		3.210	24.275	23.550
	PROFIT AFTER TAX (G-I) (J)		6.372	36.517	32.579
Add/ Less	Tax For Earlier Year		(1.201)	0.816	0.374
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		83.373	56.040	33.087
Less	APPROPRIATIONS
		Transfer to General Reserve	10.000	10.000	10.000
	BALANCE CARRIED TO THE B/S		78.544	83.373	56.040
	IMPORTS
		Capital Goods	NA	30.630	22.435
		Purchase of Resale		8.271	7.735
		Raw Materials		25.487	34.633
		Components / Spares Parts / Consumable		4.409	4.520
		Packing Material		0.896	0.503
		Others		6.167	1.524
	TOTAL IMPORTS		NA	75.860	71.350
	Earnings Per Share (Rs.)		1.69	9.69	8.63

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	0.23	1.53	1.57
Return on Total Assets (PBT/Total Assets}	(%)	0.36	2.64	2.51
Return on Investment (ROI) (PBT/Networth)		0.01	0.09	0.09
Debt Equity Ratio (Total Liability/Networth)		3.43	2.74	2.70
Current Ratio (Current Asset/Current Liability)		1.61	2.06	1.90

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	--
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

BACKGROUND:

Al Kabeer Exports Private Limited was incorporated on 25.01.1979 as a Private Limited Company under the Companies Act, 1956. The Company became a Deemed Limited Company w.e.f. 19.02.1984 u/s 43A of the Company Act 1956, and again became a Private Company w.e.f 20.09.2001 u/s 43A (2A) as per the Companies (Amendment) Act, which came into force from 14.12.2000.

The company is engaged in exports of frozen meat, mutton & other allied items & manufacture of ready -to-cook products for exports & domestic sales.

PERFORMANCE:

The turnover of the company increased from Rs.3983.900 millions to Rs.4136.749 millions registering a growth of 3.84% over the previous year. Export sales achieved is Rs.3478.700 millions and domestic sale Rs.658.00 millions. Exports increased by 3.79% and the domestic sales increased by 4.10% over the previous year. Profit before tax and after tax earned by the company is Rs.9.582 millions and Rs.6.372 respectively during the financial year 2010-11.

DEONAR PROJECT:

The Directors are pleased to inform that the construction work at Deonar plot which commenced in November 2008 is complete and the Occupancy Certificate is received. The trial runs had been carried out in July 2011 and the temperatures achieved in the cold storages were upto the mark.

FINANCE:

The Company has availed Rupee Term Loan of Rs.140.000 millions from Export Import Bank of India (EXIM) for setting up of plant for processing of meat and frozen foods at Govandi, Deonar, Mumbai. The Directors are pleased to inform that the company has pre-paid Rs.64.749 millions to EXIM Bank on 21/11/2011 being the balance in the RTL account. The outstanding as of date is NIL.

Contingent Assets And Liabilities Policy:

i) Export bills discounted with Banks Rs.458.304 millions.

ii) Income Tax matters in dispute pending at Supreme Court appeal Rs.9.581 millions.

Bankers Charges Report as per Registry

Corporate identity number of the company	U51900MH1979PTC020951
Name of the company	AL KABEER EXPORTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	91, Jolly Maker Chambers-II, 9th Floor, Nariman Point, Mumbai–400 021, Maharashtra, India Email: alkabeermumbai@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10082945
Type of charge	Immovable Property
Particular of charge holder	State Bank of India, Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai-400 005, Maharashtra, India Email: m.mahabal@sbi.co.in
Nature of instrument creating charge	No instrument executed. A Mortgage by deposit of title deeds by constructive delivery was created by Al Kabeer Exports Private Limited("the Borrower") in favour of working capital lenders on 30/06/2010 over the immoveable properties
Date of instrument Creating the charge	30/06/2010
Amount secured by the charge	Rs.825.700 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest As stipulated by each Bank from time to time. Terms of repayment On Demand Margin As prescribed by each bank. Extent and operation of the charge The Charge constituting security under the said Mortgage shall operate as a continuing security by way of second pari-passu charge in favour of working capital lenders over the Borrower's immoveable properties for the due repayment of the working capital loan of Rs.825.700 millions together with payment of interest and all other monies payable by the Borrower to the Banks.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	i) All part and parcel of land bearing survey No.840 admeasuring 10 Acres 3 Guntas equivalent to 4.08 Hectares, situate at Rudraram Village, Patancheru Mandal, Sangareddy Taluka, Medak District. ii) All part and parcel of land bearing survey No.840 admeasuring 7 Acres equivalent to 2.83 Hectares, situate at Rudraram Village, Patancheru Mandal, Sangareddy Taluka, Medak District. iii) All part and parcel of land bearing survey No.838 admeasuring 9 Acres 23 Guntas equivalent to 3.87 Hectares, situate at Rudraram Village, Patancheru Mandal, Sangareddy Taluka, Medak District. iv) All part and parcel of land bearing survey No.819 admeasuring 8 Acres 22 Guntas equivalent to 3.46 Hectares, situate at Rudraram Village, Patancheru Mandal, Sangareddy Taluka, Medak District. v) All part and parcel of land bearing survey No.839 admeasuring 6 Acres 37 Guntas equivalent to 2.80 Hectares, situate at Rudraram Village, Patancheru Mandal, Sangareddy Taluka, Medak District. vi) All part and parcel of land bearing survey No.839 admeasuring 6 Acres equivalent to 2.43 Hectares, situate at Rudraram Village, Patancheru Mandal, Sangareddy Taluka, Medak District.
Particulars of the present modification	The due repayment of loan Rs.825.700 millions together with payment of interest, additional interest, costs, charges, expenses and all other monies payable by Borrower to lenders which is secured by the charge created under the 2nd Supplemental Joint Deed of Hypothecation dated 25/05/10 is now further secured by way of mortgage by deposit of title deeds (with Exim) created by the Borrower on 30/06/10 by way of 2nd paripassu charge in favour of lenders, over the Borrower's immoveable properties at Hyderabad

Fixed assets:

• Land at Hyderabad
• Land at Bhiwandi
• Factory Building
• Office Building
• Plant and Machinery
• Office and Other Appliances
• Refrigerators
• Computers
• Air Conditioner and other Assets
• Furniture and Fixtures
• Vehicles
• Tractor
• Factory Equipments
• Livestock

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.56.53
UK Pound	1	Rs.88.09
Euro	1	Rs.70.83

INFORMATION DETAILS

Report Prepared by :

DPTP

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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		32

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.