1. Summary Information

		Country	India
Company Name	MAHARAJA WHITELINE INDUSTRIES PRIVATE LIMITED	Principal Name 1	Mr. Harish Kumar
Status	Satisfactory	Principal Name 2	Mrs. Anita Kumar
		Registration #	55-140652
Street Address	1/7, West Patel Nagar, New Delhi – 110008, India
Established Date	13.09.2005	SIC Code	--
Telephone#	91-11-25885791	Business Style 1	Manufacturer
Fax #	91-11-25885794	Business Style 2	--
Homepage	http://www.maharajawhiteline.com	Product Name 1	Domestic Appliances
# of employees	Not Available	Product Name 2	----
Paid up capital	Rs. 51,260,000/-	Product Name 3	--
Shareholders	Directors or relatives of Directors - 91% Other top fifty shareholders – 10%	Banking	Canara Bank
Public Limited Corp.	No	Business Period	7 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (48)
Related Company
Relation	Country	Company Name	CEO
Enterprises under common control	India	Far East Marketing Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	383,205,000	Current Liabilities	328,617,000
Inventories	440,895,000	Long-term Liabilities	282,261,000
Fixed Assets	200,852,000	Other Liabilities	77,857,000
Deferred Assets	0,000	Total Liabilities	688,735,000
Invest& other Assets	58,904,000	Retained Earnings	343,861,000
		Net Worth	395,121,000
Total Assets	1,083,856,000	Total Liab. & Equity	1,083,856,000
Total Assets (Previous Year)	475,249,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	1,861,233,000	Net Profit	217,951,000
Sales(Previous yr)	898,587,000	Net Profit(Prev.yr)	87,324,000

MIRA INFORM REPORT

Report Date :

23.05.2012

IDENTIFICATION DETAILS

Name :	MAHARAJA WHITELINE INDUSTRIES PRIVATE LIMITED
Formerly Known As :	MAHARAJA WHITELINE INDUSTRIES LIMITED
Registered Office :	1/7, West Patel Nagar, New Delhi – 110008
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.09.2005
Com. Reg. No.:	55-140652
Capital Investment / Paid-up Capital :	Rs. 51.260 Millions
CIN No.: [Company Identification No.]	U31909DL2005PTC140652
TAN No.: [Tax Deduction & Collection Account No.]	DELM16909E
PAN No.: [Permanent Account No.]	AAGCM6857L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Kitchen and Domestic Appliances
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 1500000
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 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 :	1/7, West Patel Nagar, New Delhi – 110008, India
Tel. No.:	91-11-25885791-92
Fax No.:	91-11-25885794
E-Mail :	legal@maharajawhiteline.com
Website :	http://www.maharajawhiteline.com

DIRECTORS

As on 20.07.2011

Name :

Mr. Harish Kumar

Designation :

Managing Director

Address :

5/21, Shanti Niketan, Delhi – 110021, India

Date of Birth/Age :

15.03.1956

Date of Appointment :

13.09.2005

DIN No.:

00922391

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	U74899DL1988PTC032257	ASIATIC ENGINEERS PRIVATE LIMITED	Director	27/06/1988	27/06/1988	-	Active	NO
2	U74899DL1991PTC045504	MAHARAJA WHITELINE DEVELOPERS PRIVATE LIMITED	Director	29/08/1991	29/08/1991	-	Active	NO
3	U65923DL1992PLC047455	MAHARAJA APPLIANCES LIMITED	Director	3/02/1992	3/02/1992	-	Active	NO
4	U29192DL1992PLC047452	EMPIRE HOME APPLIANCES LIMITED	Director	3/02/1992	3/02/1992	-	Active	NO
5	U32900DL1992PLC047453	MAHARAJA AIRCON LIMITED	Director	3/02/1992	3/02/1992	-	Active	NO
6	U74899DL1992PTC047652	SHOGAN LAMINATIONS PRIVATE LIMITED	Director	18/02/1992	18/02/1992	-	Active	NO
7	U20219HR1990PTC030870	VINDHYA WOOD CRAFTS PRIVATE LIMITED	Director	19/11/1994	19/11/1994	-	Active	NO
8	U74899DL1995PTC065215	INDO ASIATIC APPLIANCES PRIVATE LIMITED	Director	8/02/1995	8/02/1995	-	Active	NO
9	U74899DL1995PLC066331	MAHARAJA FINLEASE LIMITED	Director	14/03/1995	14/03/1995	-	Active	NO
10	U74899DL1994PTC057879	SWATI FASHIONS PRIVATE LIMITED	Director	4/12/1995	4/12/1995	17/04/2007	Active	NO
11	L17125WB1983PLC036209	HINDUSTHAN CREDIT CAPITAL LIMITED	Director	27/05/1997	27/05/1997	-	Active	NO
12	U32109DL1978PLC008917	BELTEK (INDIA ) LIMITED	Director	12/08/2004	12/08/2004	-	Active	NO
13	U45202HP1983PTC005459	JAY PEE RUBBER INDUSTRIES PRIVATE LIMITED	Director	1/12/2004	1/12/2004	-	Active	NO
14	U72200DL2005PTC135350	MAHARAJA IT AND COMMUNICATIONS PRIVATE LIMITED	Director	25/04/2005	25/04/2005	-	Active	NO
15	U31909DL2005PTC140652	MAHARAJA WHITELINE INDUSTRIES PRIVATE LIMITED	Managing director	16/12/2011	13/09/2005	-	Active	NO
16	U70101DL2005PTC141390	H B P ESTATES PRIVATE LIMITED	Director	3/10/2005	3/10/2005	29/05/2007	Active	NO
17	U72900DL2005PTC136363	DOLLY COMPUTER SOLUTIONS PRIVATE LIMITED	Director	21/03/2006	21/03/2006	-	Strike off	NO
18	U70102DL1996PTC078721	GREENVIEW BUILDERS PRIVATE LIMITED	Director	31/08/2006	31/08/2006	-	Active	NO
19	U70101DL1996PTC078759	KALINDI PROMOTERS PRIVATE LIMITED	Director	31/08/2006	31/08/2006	-	Active	NO
20	U72900DL2001PTC110524	C NET SOFTWARE SERVICES PVT LTD	Director	25/10/2006	25/10/2006	-	Active	NO
21	U74899DL1995PTC074165	SPICK AND SPAN FINVEST PRIVATE LIMITED	Director	29/09/2007	10/05/2007	-	Active	NO
22	U99999DL1995PTC065164	SRIJEE ESTATES AND INVESTMENTS PRIVATE LIMITED	Director	29/09/2007	27/06/2007	-	Active	NO
23	U74899DL1995PTC065469	FAR EAST MARKETING PRIVATE LIMITED	Director	12/12/2011	12/12/2011	-	Active	NO

Name :

Mrs. Anita Kumar

Designation :

Director

Address :

5/21, Shanti Niketan, Delhi – 110021, India

Date of Birth/Age :

03.04.1958

Date of Appointment :

13.09.2005

DIN No.:

01191057

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	U74899DL1991PTC045504	MAHARAJA WHITELINE DEVELOPERS PRIVATE LIMITED	Director	29/08/1991	29/08/1991	-	Active	NO
2	U32900DL1992PLC047453	MAHARAJA AIRCON LIMITED	Director	3/02/1992	3/02/1992	-	Active	NO
3	U29192DL1992PLC047452	EMPIRE HOME APPLIANCES LIMITED	Director	3/02/1992	3/02/1992	-	Active	NO
4	U74899DL1995PTC065215	INDO ASIATIC APPLIANCES PRIVATE LIMITED	Director	8/02/1995	8/02/1995	-	Active	NO
5	U74899DL1995PLC066331	MAHARAJA FINLEASE LIMITED	Director	14/03/1995	14/03/1995	-	Active	NO
6	U74899DL1994PTC057879	SWATI FASHIONS PRIVATE LIMITED	Director	4/12/1995	4/12/1995	17/04/2007	Active	NO
7	U51909DL1996PLC076773	APPLIANCE CITY LIMITED	Director	9/05/1996	9/05/1996	-	Active	NO
8	L17125WB1983PLC036209	HINDUSTHAN CREDIT CAPITAL LIMITED	Director	27/05/1997	27/05/1997	-	Active	NO
9	U65923DL1992PLC047455	MAHARAJA APPLIANCES LIMITED	Director	31/08/1999	31/08/1999	-	Active	NO
10	U74899DL1988PTC032257	ASIATIC ENGINEERS PRIVATE LIMITED	Director	31/08/1999	31/08/1999	-	Active	NO
11	U32109DL1978PLC008917	BELTEK (INDIA ) LIMITED	Director	12/08/2004	12/08/2004	-	Active	NO
12	U20219HR1990PTC030870	VINDHYA WOOD CRAFTS PRIVATE LIMITED	Director	5/12/2004	5/12/2004	-	Active	NO
13	U45202HP1983PTC005459	JAY PEE RUBBER INDUSTRIES PRIVATE LIMITED	Director	1/04/2005	1/04/2005	-	Active	NO
14	U31909DL2005PTC140652	MAHARAJA WHITELINE INDUSTRIES PRIVATE LIMITED	Director	13/09/2005	13/09/2005	-	Active	NO
15	U70102DL1996PTC078721	GREENVIEW BUILDERS PRIVATE LIMITED	Director	31/08/2006	31/08/2006	-	Active	NO
16	U70101DL1996PTC078759	KALINDI PROMOTERS PRIVATE LIMITED	Director	31/08/2006	31/08/2006	-	Active	NO
17	U99999DL1995PTC065164	SRIJEE ESTATES AND INVESTMENTS PRIVATE LIMITED	Director	29/09/2007	27/06/2007	-	Active	NO
18	U74899DL1995PTC074165	SPICK AND SPAN FINVEST PRIVATE LIMITED	Director	29/09/2007	15/09/2007	-	Active	NO
19	U74899DL1995PTC065469	FAR EAST MARKETING PRIVATE LIMITED	Director	12/12/2011	12/12/2011	-	Active	NO

Name :

Mrs. Raksha Devi

Designation :

Director

Address :

5/21, Shanti Niketan, Delhi, India

Date of Birth/Age :

28.09.1981

Date of Appointment :

31.07.2009

DIN No.:

01351552

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	U74899DL1992PTC047652	SHOGAN LAMINATIONS PRIVATE LIMITED	Director	15/01/1996	15/01/1996	-	Active	NO
2	U31909DL2005PTC140652	MAHARAJA WHITELINE INDUSTRIES PRIVATE LIMITED	Additional director	31/07/2009	31/07/2009	30/01/2012	Active	NO

KEY EXECUTIVES

Name :	Mr. Sujeet Kumar Yadav
Designation :	Secretary
Address :	6092 Crossing Republik, Ghaziabad, Uttarpradesh, India
Date of Birth/Age :	25.11.1976
Date of Appointment :	22.05.2011

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 20.07.2011

Names of Shareholders	No. of Shares
Harish Kumar	1034900
Harish Kumar (HUF)	515000
Anita Kumar	3549900
Raksha Devi	100
Priyanka	100
Prena Kumar	100
Sarthak Harish Kumar	25900
Total	5126000

Equity Share Break up (Percentage of Total Equity)

As on 20.07.2011

Category	Percentage
Directors or relatives of Directors	90.00
Other top fifty shareholders	10.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Kitchen and Domestic Appliances

PRODUCTION STATUS As on 31.03.2010

Particulars	31.03.2010
Installed Capacity	47.50 Lakhs Units
Actual Production	7.07 Lakhs Units

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Canara Bank, SCO 12, Sector 10, Panchkula – 134109, Haryana, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks secured	25.591	0.000
Rupee term loans financial institutions secured	0.660	0.000
Working capital loans banks secured	218.924	82.403
Total	245.175	82.403
Secured Loan	As on 31.03.2011	As on 31.03.2010
Loan Director unsecured	37.086	34.215
Total	37.086	34.215

Banking Relations :	--
Auditors :
Name :	Sandeep Kumar and Associates Chartered Accountants
Address :	99, Sector – 15, Part – 1, Gurgaon – 122001, Haryana, India
Tel No.:	91-124-2321695/4035280
PAN.:	AAFPK5925K
Enterprises under common control:	· Far East Marketing Private Limited, India (CIN: U74899DL199PTC065469) · Omex Industries, India · Empire Home Appliances Limited, India (CIN: U29192DL199PTC047452) · Maharaja Appliances Limited, India (CIN: U65923DL1992PLC047455) · Hindustan Appliances · Maharaja Engineers · Maharaja Whiteline Developers Private Limited, India (CIN:U74899DL1991PTC045504) · (Firmly known as AH Holding Private Limited) · Asiatic Engineers Private Limited, India (CIN: U74899DL1988PTC032257) · Appliance City Limited, India (CIN: U51909DL1996PLC076773) · Vindhya Wood Crafts Private Limited, India (CIN: U20219HR1990PTC030870) · Indo Asiatic Appliances Private Limited, India (CIN:U74899DL1995PTC065215) · Maharaja Finease Limited, India (CIN: U74899DL199PLC066331) · Maharaja Aircon Limited, India (CIN: U32900DL1992PLC047453) · Spic and Span Finevest Private Limited, India (CIN: U74899DL1995PTC074165) · Jay Pee Rubber Industries Private limited, India (CIN: U4520HP1983PTC005459) · Srijee Estates and Investments Private Limited, India · Kalindi Promoters Private Limited, India · Greenview Builders Private Limited, India · Shogan Lamination Private Limited, India (CIN: U74899DL1992PTC047652) · Progressive Commutators Private Limited (CIN: U74899DL1995PTC069119) · Maharaja IT and Communications Private Limited, India (CIN: U72200DL2005PTC135350) · Maharaja Whiteline Industries · Hindustan Machine

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5126000	Equity Shares	Rs.10/- each	Rs. 51.260 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		51.260	51.260	20.500
2] Share Application Money		0.00	0.000	0.000
3] Reserves & Surplus		343.861	126.457	30.398
4] (Accumulated Losses)		0.000	0.000	(0.106)
NETWORTH		395.121	177.717	50.972
LOAN FUNDS
1] Secured Loans		245.175	82.403	0.000
2] Unsecured Loans		37.086	34.215	0.000
TOTAL BORROWING		282.261	116.618	0.000
DEFERRED TAX LIABILITIES		6.845	0.467	0.000
TOTAL		684.227	294.802	50.792
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		200.852	119.781	49.169
Capital work-in-progress		58.904	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	440.895	107.259	0.000
	Sundry Debtors	240.289	172.101	0.000
	Cash & Bank Balances	80.867	54.660	0.201
	Other Current Assets	0.807	0.338	0.130
	Loans & Advances	61.242	20.670	5.404
Total Current Assets		824.100	355.028	5.735
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	293.596	149.696	4.598
	Other Current Liabilities	35.021	14.459	0.064
	Provisions	71.012	16.292	0.000
Total Current Liabilities		399.629	180.447	4.662
Net Current Assets		424.471	174.581	1.073
MISCELLANEOUS EXPENSES		0.000	0.440	0.550
TOTAL		684.227	294.802	50.792

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1861.233	898.587	0.000
		Other Income	NA	0.737	0.000
		TOTAL (A)	NA	899.324	0.000
Less	EXPENSES
		Material Consumption and Manufacturing Expenses	NA	575.379	0.000
		Administrative and Others Expenses	NA	9.796	0.070
		Personal Expenses	NA	13.969	0.000
		Selling and Distribution Expenses	NA	239.697	0.000
		Preliminary Expenses W/off	NA	0.110	0.000
		Increase in Finished Goods (Stock)	NA	(48.535)	0.000
		TOTAL (B)	NA	790.416	0.070
Less	PROFIT/LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA	108.908	(0.070)
Less	FINANCIAL EXPENSES (D)		NA	2.851	0.005
	PROFIT/LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		NA	106.057	0.000
Less/ Add	DEPRECIATION/ AMORTISATION (F)		NA	2.224	0.000
	PROFIT/LOSS BEFORE TAX (E-F) (G)		NA	103.833	(0.075)
Less	TAX (H)		NA	(16.509)	0.000
	PROFIT/LOSS AFTER TAX (G-H) (I)		217.951	87.324	(0.075)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		87.218	(0.106)	(0.031)
	BALANCE CARRIED TO THE B/S		NA	87.218	(0.106)
	IMPORTS
		Raw Materials	NA	19.913	NA
		Stores & Spares	NA	24.543	NA
		Capital Goods	NA	28.297	NA
	TOTAL IMPORTS		NA	72.753	NA
	Earnings/Loss Per Share (Rs.)		42.52	17.01	(0.05)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	11.71	9.71	0.00
Net Profit Margin (PBT/Sales)	(%)	NA	11.55	0.00
Return on Total Assets (PBT/Total Assets}	(%)	NA	29.24	1.31
Return on Investment (ROI) (PBT/Networth)		NA	0.58	0.00
Debt Equity Ratio (Total Liability/Networth)		1.01	1.02	0.09
Current Ratio (Current Asset/Current Liability)		2.06	1.97	1.23

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	Yes
5) Type of Business	No
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

CONTINGENT LIABILITIES As on 31.03.2011

(In Millions)

Particulars	31.03.2011
FLC/ILC (Utilise and outstanding)	200.000
Total	200.000

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U31909DL2005PLC140652
Name of the company	MAHARAJA WHITELINE INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	1/7, West Patel Nagar, New Delhi – 110008, India Email: legal@maharajawhiteline.com
This form is for	Creation of charge
Type of charge	· Immovable property · Book debts · Movable property (not being pledge)
Particular of charge holder	Canara Bank, SCO 12, Sector 10, Panchkula – 134109, Haryana, India Email: cb1624@canarabank.com
Nature of instrument creating charge	1. Term Loan Agreement 2. Supplemental Common Hypothecation Agreement Both executed on 20th January 2011 in favour of Canara Bank
Date of instrument Creating the charge	20.01.2011
Amount secured by the charge	Rs. 100.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base Rate plus 3% plus 1% term premia presently 13% p.a (Floating) with monthly rests subject to change to change or as advised by the Bank from time to time. Terms of Repayment Entire loan to be repaid in 60 monthly installments (excluding moratorium of 4 months) of Rs. 1.667 Millions per month. Margin 35% Extent and Operation of the charge 100%
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Primary: Hypothecation of Plant and Machinery and other fixed assets situated at Village Malku Majra Distt Solan HP and Equitable Mortgage of Land and Building situated at Village Malku Majra, Baddi Distt Solan (Himachal Pradesh) Equitable Mortgage of Land and Building situated at Plot No. 32, Sector 32 in Echelon Institutional Area, Gurgaon presently in name of Maharaja Appliances Ltd Collateral: Hypothecation of all stocks of goods such as raw materials, goods in process, finished and manufactured goods and other items of Stock in trade and stores, spares, components, machinery, vehicles, furniture and fixtures and all other movable goods and property of every description of the Borrower and present and future book debts outstanding moneys, bills receivable, claims, bills contracts, securities, investments cash etc

Fixed Assets

· Building

· Land and Building

· Office Equipment

· Computers

· Furniture and Fixtures

· Mould and Dies

· Plant and Machinery

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.54.88
UK Pound	1	Rs.86.84
Euro	1	Rs.70.20

INFORMATION DETAILS

Report Prepared by :

KVT

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	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--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	YES
--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	-

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.