1. Summary Information

		Country	India
Company Name	PARAMOUNT POLLUTION CONTROL LIMITED	Principal Name 1	Mr. Kewalkrishna Gurucharandas Tuli
Status	Satisfactory	Principal Name 2	Mr. Anil Shreedhar Kane
		Registration #	04-002956
Street Address	Paramount Complex, Gotri Road, Race Course, Baroda – 390007, Gujarat, India
Established Date	17.12.1976	SIC Code	--
Telephone#	91-265-2397111 (7 Lines)/2397112/113/114	Business Style 1	Manufacturer
Fax #	91-265-2398251	Business Style 2	Exporter
Homepage	www.paramountlimited	Product Name 1	Water Treatment Plants.
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.15,000,000/-	Product Name 3	--
Shareholders	Bodies corporate 19.33% Directors or relatives of directors 80.67%	Banking	Indian Overseas Bank
Public Limited Corp.	No	Business Period	35 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (48)
Related Company
Relation	Country	Company Name
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	900,273,000	Current Liabilities	486,037,000
Inventories	34,639,000	Long-term Liabilities	248,307,000
Fixed Assets	87,109,000	Other Liabilities	40,215,000
Deferred Assets	(7,544,000)	Total Liabilities	774,559,000
Invest& other Assets	19,330,000	Retained Earnings	244,249,000
		Net Worth	259,248,000
Total Assets	1,033,807,000	Total Liab. & Equity	1033,807,000
Total Assets (Previous Year)	483,499,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	1148,193,000	Net Profit	62.691,000
Sales(Previous yr)	404,816,000	Net Profit(Prev.yr)	24,115,000

MIRA INFORM REPORT

Report Date :

15.05.2012

IDENTIFICATION DETAILS

Name :	PARAMOUNT LIMITED (w.e.f 26.10.1988)
Formerly Known As :	PARAMOUNT POLLUTION CONTROL LIMITED
Registered Office :	Paramount Complex, Gotri Road, Race Course, Baroda – 390007, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.12.1976
Com. Reg. No.:	04-002956
Capital Investment/ Paid-up Capital:	Rs.15.000 Millions
CIN No.: [Company Identification No.]	U74120GJ1976PLC002956
TAN No.: [Tax Deduction & Collection Account No.]	BRDP00998E
PAN No.: [Permanent Account No.]	AABCP6509P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter and Supplier of Water Treatment Plants.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 1037000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an old and well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	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 :	Paramount Complex, Gotri Road, Race Course, Baroda – 390007, Gujarat, India
Tel. No.:	91-265-2397111 (7 Lines)/2397112/113/114
Fax No.:	91-265-2398251
E-Mail :	finance@paramountlimited.com sales@paramountlimited.com skt@paramountlimited.com paramount@paramountlimited.com
Website :	www.paramountlimited.com
Regional Office:	B-112611 Safdarjung Enclave, New Delhi-110 029, Delhi, India Ph. : 26186525 Fax : 91-11-26186369 E-mail : ppcldll@bol.net.in 213, Champaklal Industrial Estate, 105, Sion (East), Mumbai-400022, Maharashtra, India Ph. : 24073108/24078105/24071994 Fax : 91-22-24078106 E-mail : paramountmumbai@vsnI.com "Venkata Vijayam" Apartment, Flat No. 3,2nd Floor, 11th South Road (Old No. 9), West CIT Nagar, Chennai - 600 035, Tamilnadu, India Ph. : 24350272,24350273 Fax: 044-24340281 E-mail : mprparamount@vsnl.net
Overseas Office:	Refrigeration and Oxygen Limited, Area #1, Block #21 C, Central Slaughter House street, Shuwaikh Industrial Area, P.O Box 501, Safat 13006, Kuwait
Tel. No.:	00965 844844 Extension 205 to 230
Fax No.:	00965 24843020
E-Mail :	sales@paramountlimited.com

DIRECTORS

As on 26.09.2011

Name :

Mr. Sandesh Kumar Jagannath Anand

Designation :

Additional Director

Address :

A/17, Chanakyapuri, New Sama Road, Baroda – 390008, Gujarat, India

Date of Appointment :

23.01.2010

Din No.:

00001792

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	U99999GJ1992PLC017798	GUJARAT CHEMICAL PORT TERMINAL COMPANY LIMITED	Managing director	24/01/2002	24/01/2002	10/10/2008	Active	NO
2	L23200GJ1969PLC001569	INDIAN PETROCHEMICALS CORPORATION LIMITED	Whole-time director	4/6/2007	4/6/2002	-	Amalgamated	NO
3	U24134MH2007PTC175657	EXPANDED POLYMER SYSTEMS PRIVATE LIMITED	Director	29/09/2009	12/1/2009	28/09/2010	Active	NO
4	U17119GJ1992PLC017745	SUNRISE INDUSTRIES (INDIA) LIMITED	Director	30/09/2010	10/10/2009	-	Active	NO
5	U74120GJ1976PLC002956	PARAMOUNT LIMITED	Additional director	23/01/2010	23/01/2010	-	Active	NO
6	L24110GJ1970PLC001735	DEEPAK NITRITE LIMITED	Additional director	4/11/2011	4/11/2011	-	Active	NO

Name :

Mr. Kewalkrishna Gurucharandas Tuli

Designation :

Managing Director

Address :

76, Vishwas Colony, Alkapuri, Vadodara – 390005, Gujarat, India

Date of Birth/Age :

08.02.1938

Date of Appointment :

30.03.2004

Din No.:

00014349

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	U74120GJ1976PLC002956	PARAMOUNT LIMITED	Managing director	30/03/2004	30/03/2004	-	Active	NO
2	U72200GJ2003PLC042802	SPECTRA DYNAMICS LIMITED	Managing director	1/12/2005	1/12/2005	-	Active	NO
3	L31100GJ1967PLC001437	VOLTAMP TRANSFORMERS LIMITED	Director	13/02/2006	13/02/2006	-	Active	NO
4	U74210GJ1987PLC010016	PARAMOUNT TECHNOLOGIES LIMITED	Director	21/04/2011	21/04/2011	-	Active	NO
5	U74140GJ1986PLC008842	PARAMOUNT CONSULTANCY SERVICES LIMITED	Director	21/04/2011	21/04/2011	-	Active	NO

Name :

Mr. Anil Shreedhar Kane

Designation :

Director

Address :

A – 15, Sahyog Society, Gorwa Road, Baoda – 390016, Gujarat, India

Date of Birth/Age :

18.10.1941

Date of Appointment :

30.09.2003

Din No.:

00019394

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	U24302MH1968PTC014055	CHAMPION JOINTINGS PRIVATE LIMITED	Director	30/09/1981	30/09/1981	-	Active	YES
2	L99999DN1983PLC000045	WELSPUN SYNTEX LIMITED	Nominee director	17/06/2003	17/06/2003	29/08/2008	Active	NO
3	U74120GJ1976PLC002956	PARAMOUNT LIMITED	Director	30/09/2003	30/09/2003	-	Active	NO
4	U17119GJ1992PLC017745	SUNRISE INDUSTRIES (INDIA) LIMITED	Director	30/09/2010	10/10/2009	-	Active	NO

Name :

Mr. Samir Kewalkrishna Tuli

Designation :

Director

Address :

7, Square Park Society, Lions Hall Club, Old Padra Road, Vadodara – 390015, Gujarat, India

Date of Birth/Age :

05.11.1965

Date of Appointment :

15.04.2003

Din No.:

00082704

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	U74210GJ1987PLC010016	PARAMOUNT TECHNOLOGIES LIMITED	Director	31/05/1989	31/05/1989	-	Active	NO
2	U74140GJ1986PLC008842	PARAMOUNT CONSULTANCY SERVICES LIMITED	Director	25/02/1996	25/02/1996	-	Active	NO
3	U74120GJ1976PLC002956	PARAMOUNT LIMITED	Director	15/04/2003	15/04/2003	-	Active	NO
4	U72200GJ2003PLC042802	SPECTRA DYNAMICS LIMITED	Director	1/12/2005	1/12/2005	-	Active	NO
5	U72200GJ2006FTC048617	DATALYST (INDIA) PRIVATE LIMITED	Director	5/7/2006	5/7/2006	23/01/2009	Active	NO
6	U67120MH1984PTC034735	TULI PATEL INVESTMENT PVT LTD	Director	21/04/2011	21/04/2011	-	Active	NO
7	U74300GJ1995PTC027901	SQUARE CIRCLE ADVERTISING AND MARKETING PVT LTD	Director	6/8/2011	6/8/2011	-	Active	NO
8	U32109GJ1989PTC012566	POLCON EQUIPMENTS PRIVATE LIMITED	Director	6/8/2011	6/8/2011	-	Active	NO

Name :

Mr. Shyamsunder Khedkar

Designation :

Director

Address :

Ashirwad 148, Vinayak Society, Old Padra Road, Vadodara – 390020, Gujarat, India

Date of Birth/Age :

24.03.1938

Date of Appointment :

30.03.2004

Din No.:

00205355

Name :

Mr. Rajat Kumar Dasgupta

Designation :

Director

Address :

1604, Eternia B wing, 16^th Floor, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India

Date of Birth/Age :

02.11.1936

Date of Appointment :

30.09.2003

Din No.:

01725758

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	U74120GJ1976PLC002956	PARAMOUNT LIMITED	Director	30/09/2003	30/09/2003	-	Active	NO
2	L17100MH1909PLC000294	SWAN ENERGY LIMITED	Director	24/09/2007	16/08/2007	-	Active	NO

Name :

Mr. Mukul Vishwanath Dey

Designation :

Director

Address :

F-3 Yash Apartments, Gautham Nagaar, Race Course, Baroda – 390007, Gujarat, India

Date of Appointment :

23.06.2011

Din No.:

03574805

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	U74120GJ1976PLC002956	PARAMOUNT LIMITED	Director	23/06/2011	23/06/2011	-	Active	NO
2	U72200GJ2003PLC042802	SPECTRA DYNAMICS LIMITED	Director	22/07/2011	22/07/2011	-	Active	NO
3	U32109GJ1989PTC012566	POLCON EQUIPMENTS PRIVATE LIMITED	Director	22/07/2011	22/07/2011	-	Active	NO
4	U74210GJ1987PLC010016	PARAMOUNT TECHNOLOGIES LIMITED	Director	22/07/2011	22/07/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2011

Names of Shareholders	No. of Shares
Kewal G. Tuli	621100
Samir K. Tuli	420800
Kailas K. Tuli	132000
Dr. Nita Y. Mehta	34000
Dr. Yatin I Mehta	1050
Shivani Samir Tuli	1050
Tuli Patel Investment Private Limited, India	290000
TOTAL	1500000

As on 26.09.2011

Category	Percentage
Bodies corporate	19.33
Directors or relatives of directors	80.67
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Supplier of Water Treatment Plants.

Products :

Industrial Scrubber · Gas Scrubber · Dust Scrubber · Air Scrubber · Wet Scrubber · Fume Scrubber Water Treatment Plant · Wastewater Treatment Plant · Sewage Treatment Plants · Reverse Osmosis System · Pressure Sand Filter · Api Oil Separators · Magnetic Drum Seperator Waste Treatment Plant · Solid Waste Clarifier · Cage Driven Thickener · Dissolved Air Flotation · Sludge Thickener · Waste Incinerator

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Indian Overseas Bank – Mehta Pole Branch, Bank Road, Near Mandvi, Vadodara – 390006, Gujarat, India

Facilities :

Rs. in Millions

Secured Loan	31.03.2011	31.03.2010
Working capital loans banks secured	193.740	95.265
Unsecured Loan	31.03.2011	31.03.2010
Loans directors unsecured	47.019	46.835
Loans taken for vehicles unsecured	3.347	4.229
Other debt unsecured	4.201	0.873
Total	54.567	51.937

Banking Relations :	--
Auditors :
Name :	V. Parekh and Associates Chartered Accountant
Address :	Haman Street, 2^nd Floor, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-2650264/2653555/2666219
Fax No.:	91-22-2654370
PAN.:	AAAFV0135F

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Share	Rs.10/- each	Rs.60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Share	Rs.10/- each	Rs.15.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		15.000	15.000	15.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		244.248	185.057	162.697
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		259.248	200.057	177.697
LOAN FUNDS
1] Secured Loans		193.740	95.265	92.527
2] Unsecured Loans		54.567	51.937	47.597
TOTAL BORROWING		248.307	147.202	140.124
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		507.555	347.259	317.821
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		87.109	79.000	76.626
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		19.330	19.285	2.547
DEFERREX TAX ASSETS		(7.544)	(6.593)	(5.231)
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	34.639	28.962	11.844
	Sundry Debtors	578.271	192.606	252.999
	Cash & Bank Balances	196.696	93.032	40.663
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	125.306	80.207	67.740
Total Current Assets		934.912	394.807	373.246
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	392.190	80.546	91.051
	Other Current Liabilities	93.847	34.438	25.360
	Provisions	40.215	24.256	12.956
Total Current Liabilities		526.252	139.240	129.367
Net Current Assets		408.660	255.567	243.879
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		507.555	347.259	317.821

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1148.193	404.816	407.640
		Other Income	4.969	8.004	7.025
		TOTAL (A)	1153.162	412.820	414.665
Less	EXPENSES
		Contract Cost	909.533	282.594
		Employee Related Expenses	55.660	40.351
		Administrative selling other Expenses	69.470	58.020
		Research and development expenses	1.837	1.084
			1036.500	382.049
		Increase/Decrease in inventories	(5.677)	(17.119)
		TOTAL (B)	1030.823	364.930	393.377
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		122.339	47.890	45.289
Less	FINANCIAL EXPENSES (D)		18.414	2.102	12.628
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		103.925	45.788	32.661
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.873	9.010	1.888
	Prior period items before tax		0.080	0.000	0.000
	PROFIT BEFORE TAX (E-F) (G)		100.972	39.778	30.773
Less	TAX (H)		38.281	12.663	11.840
	PROFIT AFTER TAX (G-H) (I)		62.691	24.115	18.933
	SHORT/EXCESS PROVISION OF EARLIER YEAR		0.000	0.000	0.097
	Prior Period Adjustment		0.000	0.000	0.005
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		5.057	2.696	5.426
Less	APPROPRIATIONS
		Transfer to General Reserve		20.000	20.000
		Dividend	38.498	1.500	1.500
		Tax on Dividend		0.254	0.255
	BALANCE CARRIED TO THE B/S		29.250	5.057	2.696
	Earnings Per Share (Rs.)		41.79	16.08	12.62

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.44	5.85	4.57
Net Profit Margin (PBT/Sales)	(%)	8.79	9.83	7.55
Return on Total Assets (PBT/Total Assets}	(%)	9.88	7.97	6.84
Return on Investment (ROI) (PBT/Networth)		0.39	0.20	0.17
Debt Equity Ratio (Total Liability/Networth)		2.99	1.43	1.52
Current Ratio (Current Asset/Current Liability)		1.78	2.84	2.89

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoters 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 the business	Yes
Details of sister concerns	-
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes

Bankers Charges Report as per Registry

Corporate identity number of the company	U74120GJ1976PLC002956
Name of the company	PARAMOUNT LIMITED
Address of the registered office or of the principal place of business in India of the company	Paramount Complex Gotri Road Race Course, Baroda – 390007, Gujarat, India E Mail: finance@paramountlimited.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90102432
Type of charge	Immovable Property
Particular of charge holder	Indian Overseas Bank, Mehta Pole Branch, Bank Road, Near Mandvi, Vadodara – 390006, Gujarat, India Email: brdambr@barsco.iobnet.co.in
Nature of instrument creating charge	Memorandum of deposit of title deeds by way of equitable mortgage (supplemental narration) dated 26.04.2012
Date of instrument Creating the charge	26.04.2012
Amount secured by the charge	Rs.1434.200 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Cash Credit: Base Rate + 4.25 presently 15% p.a Terms of Repayment: Cash Credit: On demand Margin: Cash Credit: 25% on Stocks & 25% on Book Debts Extent and operation of the charge: First Charge by way of extension of equitable mortgage on immovable properties of the company for the due repayment of principal amount together with interest, interest tax, further interest, additional interest, penal interest, commission, fees, costs, charges and expenses incurred by the Bank as security for the credit facility amounting to Rs.1434.200 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Industrial plot No.A-1/4 (factory), admeasuring 2671 sq. meters, R. S. No. 324/part and 325/ part, situated at GIDC Industrial Estate, Makarpura, Vadodara. Paramount Complex, 5 & 6 totally admeasuring 4915 sq. feet, City Survey No. 1165, R. S. No.15/1 and 15/2 situated at Miraj Co operative Housing Society Limited, Gotri Road, Race Course Circle (west), Vadodara. Plot/Block No.4, admeasuring 514 sq. meters, R. S. No. 540/15, situated at 4 Vrajwadi Society, Nr. Sheel Restaurant, Jetalpur Road, Vadodara belongs to Paramount Construction as collateral security
Date of instrument modifying the charge	15.11.2010
Particulars of the present modification	In view of additional credit facilities granted to the Company, the charge is modified securing the aggregate credit facilities from Rs.1404.200 Millions to Rs.1434.200 Millions in favour of the Bank.

Fixed Assets

• Land
• Office building
• Factory building
• Plant and machineries
• Computer systems
• Earth moving machineries
• R and D equipments
• Vehicles
• Furniture and fixtures
• Other assets

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.53.71
UK Pound	1	Rs.86.34
Euro	1	Rs.69.23

INFORMATION DETAILS

Report Prepared by :

BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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	-

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.