MIRA INFORM REPORT

Report Date :

12.11.2012

IDENTIFICATION DETAILS

Name :	OCEAN SPARKLE LIMITED
Registered Office :	1^st Floor, Plot No. 128, Srinagar Colony, Hyderabad -500073, Andhra Pradesh, India
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.07.1995
Com. Reg. No.:	01-021217
Capital Investment/ Paid-up Capital:	Rs.191.401 Millions
CIN No.: [Company Identification No.]	U05005AP1995PLC021217
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing Professional Service of Comprehensive Port Operation and Management.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (58)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 11080000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having good track record. Financially company performance seems good. Performance capacity is high. Trade relations are reported to be fair. Business is active. Payments are reported to regular and as per commitment. The company can be considered 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	A+ (Term Loan)
Rating Explanation	Having adequate degree of safety regarding timely servicing of financially obligation it carry low credit risk.
Date	July 2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	1^st Floor, Plot No. 128, Srinagar Colony, Hyderabad -500073, Andhra Pradesh, India
Tel. No.:	91-40-66537720
Fax No.:	91-40-23743507
E-Mail :	oslhyd@oceansparkle.in
Website :	www.oceansparkle.com

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Jairaj Kumar Penukonda

Designation :

Managing Director

Address :

Mch No.8-2-416, Block A, Stoney Valley, S-8, Road No.4, Banjarahills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

26.05.1959

Qualification :

Marine Engineer

Experience :

31 Years

Date of Appointment :

01.04.2012

Din No.:

00013867

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	U24299AP1988PTC082278	SAVI JANA SEA FOODS PVT LTD	Director	07/03/1991	07/03/1991	-	Active	NO
2	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Managing director	01/04/2012	26/07/1995	-	Active	NO
3	U74999AP2001PLC038164	SEA SPARKLE HARBOUR SERVICES LIMITED	Director	06/12/2001	06/12/2001	-	Active	NO
4	U63023AP2002PLC038824	SEALION SPARKLE MARITIME SERVICES LIMITED	Director	22/04/2002	22/04/2002	-	Active	NO
5	U63012AP2002PLC043422	SEALION SPARKLE PORT AND TERMINAL SERVICES (DAHEJ) LIMITED	Managing director	08/01/2009	08/11/2002	-	Active	NO
6	U45205AP2004PLC044306	SAI SPARKLE DREDGING AND INFRASTRUCTURE DEVELOPERS LIMITED	Director	30/09/2004	30/09/2004	-	Active	NO
7	U61100AP2005PTC048273	SEALION SPARKLE PORT AND TERMINAL SERVICES(PARADIP) PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Under Process of Striking off	NO
8	U85110AP2006PTC051751	Unimed Health care Private Limited	Director	30/09/2008	13/08/2008	-	Active	NO
9	U61100AP2011PLC073174	Sparkle Port Services Limited	Director	10/03/2011	10/03/2011	-	Active	NO

Name :

Mr. Sanjeev Dhawan

Designation :

Whole-Time Director

Address :

B -205, Sanikpuri, Secunderabad -500074, Andhra Pradesh, India

Date of Birth/Age :

21.12.1958

Qualification :

Marine Engineer

Experience :

31 Years

Date of Appointment :

01.04.2012

Din No.:

00013761

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	U24299AP1988PTC082278	SAVI JANA SEA FOODS PVT LTD	Director	07/03/1991	07/03/1991	-	Active	NO
2	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Whole-time director	01/04/2012	26/07/1995	-	Active	NO
3	U63023AP2002PLC038824	SEALION SPARKLE MARITIME SERVICES LIMITED	Managing director	08/01/2009	22/04/2002	-	Active	NO
4	U45205AP2004PLC044306	SAI SPARKLE DREDGING AND INFRASTRUCTURE DEVELOPERS LIMITED	Director	06/04/2005	06/04/2005	-	Active	NO
5	U61100AP2011PLC073174	Sparkle Port Services Limited	Director	10/03/2011	10/03/2011	-	Active	NO

Name :

Mr. Virender Prasad Raghukul

Designation :

Whole-Time Director

Address :

Plot No.181, Road No.11, Gunrock Enclave Phase –II, Secunderabad Cantonment, Secunderabad -500009, Andhra Pradesh , India

Date of Birth/Age :

03.12.1953

Qualification :

Chartered Accountant

Experience :

29 Years

Date of Appointment :

01.04.2012

Din No.:

00013822

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	U24299AP1988PTC082278	SAVI JANA SEA FOODS PVT LTD	Director	27/09/1993	27/09/1993	-	Active	NO
2	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Whole-time director	01/04/2012	27/10/2000	-	Active	NO
3	U63023AP2002PLC038824	SEALION SPARKLE MARITIME SERVICES LIMITED	Director	22/04/2002	22/04/2002	-	Active	NO
4	U61100AP2005PTC048273	SEALION SPARKLE PORT AND TERMINAL SERVICES(PARADIP) PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Under Process of Striking off	NO
5	U74999AP2001PLC038164	SEA SPARKLE HARBOUR SERVICES LIMITED	Alternate director	26/07/2011	14/09/2007	-	Active	NO
6	U63012AP2002PLC043422	SEALION SPARKLE PORT AND TERMINAL SERVICES (DAHEJ) LIMITED	Alternate director	26/07/2011	14/09/2007	-	Active	NO
7	U61100AP2011PLC073174	Sparkle Port Services Limited	Director	10/03/2011	10/03/2011	-	Active	NO

Name :

Mr. Ashwani Kumar Sawhney

Designation :

Whole-Time Director

Address :

E-1, Hiden Treasure, Somaiguda, Hyderabad – 500082, Andhra Pradesh, India

Date of Birth/Age :

23.01.1959

Qualification :

Marine Engineer

Experience :

31 years

Date of Appointment :

01.04.2012

Din No.:

00052950

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	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Whole-time director	01/04/2012	30/09/1999	-	Active	NO
2	U74999AP2001PLC038164	SEA SPARKLE HARBOUR SERVICES LIMITED	Managing director	08/01/2009	21/12/2001	-	Active	NO
3	U63023AP2002PLC038824	SEALION SPARKLE MARITIME SERVICES LIMITED	Alternate director	26/07/2011	14/09/2007	-	Active	NO
4	U63012AP2002PLC043422	SEALION SPARKLE PORT AND TERMINAL SERVICES (DAHEJ) LIMITED	Alternate director	20/12/2010	20/12/2010	25/04/2011	Active	NO

Name :

Mr. Rajiv Raghunath Pradhan

Designation :

Director

Address :

Ramya,47, Prashant Society, Paud, P.O Koth Road, Pune – 411029, Maharashtra, India

Date of Birth/Age :

31.08.1962

Date of Appointment :

22.04.2000

Din No.:

00015356

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	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Director	22/04/2000	22/04/2000	-	Active	NO
2	U63012AP2002PLC043422	SEALION SPARKLE PORT AND TERMINAL SERVICES (DAHEJ) LIMITED	Director	08/01/2003	08/01/2003	-	Active	NO

Name :

Mr. Comandur Parthasarathy

Designation :

Director

Address :

8-2-540/2, Banjara Hill, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

07.07.1955

Date of Appointment :

30.09.2008

Din No.:

00079232

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	U74140AP1981PLC003122	KARVY CONSULTANTS LIMITED	Director	23/07/1981	23/07/1981	-	Active	NO
2	U74140MH1980PLC023592	NOVA CONSULTANTS LIMITED	Director	24/12/1988	24/12/1988	-	Active	NO
3	U67120AP1995PLC019877	KARVY STOCK BROKING LIMITED	Managing director	25/08/2009	26/05/1995	-	Active	NO
4	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Director	30/09/2008	30/09/1997	-	Active	NO
5	U67120AP1997PLC026253	KARVY INVESTOR SERVICES LIMITED	Director	01/04/1998	01/04/1998	-	Active	NO
6	U24239AP2003PTC040924	EPR PHARMACEUTICALS PRIVATE LIMITED	Director	30/04/2003	30/04/2003	21/09/2011	Active	NO
7	U51909AP2003PLC042096	KARVY COMTRADE LIMITED	Director	20/11/2003	20/11/2003	-	Active	NO
8	U74140AP2003PTC041636	KARVY COMPUTERSHARE PRIVATE LIMITED	Managing director	29/01/2004	29/01/2004	-	Active	NO
9	U55101AP2004PTC043114	KONA'S FOODCOURT ON THE ROCKS PRIVATE LIMITED	Director	22/04/2004	22/04/2004	17/11/2007	Active	NO
10	U66010AP2003PLC041680	KARVY INSURANCE BROKING LIMITED	Director	30/11/2004	30/11/2004	-	Active	NO
11	U65993AP2000PLC035437	KARVY GLOBAL SERVICES LIMITED	Director	31/12/2004	31/12/2004	-	Active	NO
12	U40108DL2003PTC120409	ATHENA INFRAPROJECTS PRIVATE LIMITED	Director	29/09/2007	22/09/2006	-	Active	NO
13	L27109AP1975PLC001919	PENNAR INDUSTRIES LIMITED	Director	19/08/2009	30/10/2008	-	Active	NO
14	U74999AP2004PLC043292	SRISAIRAM PROJECTS LIMITED	Director	05/12/2008	05/12/2008	-	Active	NO
15	U45400AP2009PTC062776	KARVY INFRASTRUCTURE RESOURCES PRIVATE LIMITED	Director	13/02/2009	13/02/2009	-	Active	NO
16	L24110AP1991PLC012471	GRANULES INDIA LIMITED	Director	25/09/2009	27/05/2009	-	Active	NO
17	U91110MH2009NPL193505	Financial Intermediaries Association of India	Director	23/06/2009	23/06/2009	-	Active	NO
18	U72300AP2008PLC058738	KARVY DATA MANAGEMENT SERVICES LIMITED	Director	30/09/2009	20/07/2009	-	Active	NO
19	U74940AP2007PTC056698	MULTIDIMENSION ENTERTAINMENTS PRIVATE LIMITED	Director	08/09/2011	05/10/2010	-	Active	NO
20	U80221AP2011PTC072305	TMI e2E Academy Private Limited	Director	02/02/2011	02/02/2011	-	Active	NO
21	U65993AP2011PLC077813	Karvy Holdings Limited	Director	05/12/2011	05/12/2011	-	Active	NO
22	U74210DL2007PTC160401	ATHENA ENERGY VENTURES PRIVATE LIMITED	Director	27/09/2012	30/03/2012	-	Active	NO

Name :

Daniel Trevelyn Joseph

Designation :

Director

Address :

52, Jamine Co-op Housing Society, Madhusudan Kalekar Mart, Bandra (East), Mumbai- 400051, Maharashtra, India

Date of Birth/Age :

21.12.1945

Date of Appointment :

30.09.2008

Din No.:

01716572

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	L63000MH1988PLC048500	SHREYAS SHIPPING AND LOGISTICS LIMITED	Director	27/09/2008	10/09/2007	-	Active	NO
2	L63090GJ1998PLC034182	ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED	Director	26/09/2008	17/09/2007	-	Active	NO
3	U99999MH1986PLC062170	WARTSILA INDIA LIMITED	Director	15/05/2008	15/10/2007	29/06/2010	Active	NO
4	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Director	30/09/2008	19/01/2008	-	Active	NO
5	L74899DL1956GOI002674	THE STATE TRADING CORPORATION OF INDIA LIMITED	Director	28/11/2008	28/11/2008	24/09/2009	Active	NO
6	U63090MH1997PTC108257	BERNHARD SCHULTE SHIPPING (INDIA) PRIVATE LIMITED	Director	11/02/2009	11/02/2009	-	Active	NO
7	L64200MH1995PLC086354	TATA TELESERVICES (MAHARASHTRA) LIMITED	Director	13/08/2009	08/05/2009	-	Active	NO
8	U63032TN1993PLC026045	WEST ASIA MARITIME LIMITED	Director	26/06/2009	01/06/2009	-	Active	NO
9	U61100MH1994PLC077152	Shreyas Relay Systems Limited	Director	21/06/2010	31/07/2009	-	Active	NO
10	U64202DL2007PLC223153	Viom Infra Networks (Maharashtra) Limited	Additional director	15/10/2009	15/10/2009	21/09/2010	Active	NO
11	U60232DL2006GOI155068	DEDICATED FREIGHT CORRIDOR CORPORATION OF INDIA LIMITED	Director	14/05/2010	14/05/2010	-	Active	NO
12	U45200MH1995PTC094208	KEYSTONE REALTORS PRIVATE LIMITED	Director	09/09/2010	26/06/2010	-	Active	NO
13	U63090KL2011PTC027604	GREAT SEA SHIPPING PRIVATE LIMITED	Director	06/08/2012	07/04/2011	-	Active	NO

Name :

Mr. Parampally Vasudeva Maiya

Designation :

Director

Address :

Flat No.106, Somya Springs, Dewan Madhav Rao Road, Basavanagudi, Bangalore – 5600004, Karnataka, India

Date of Birth/Age :

03.09.1938

Date of Appointment :

30.09.2008

Din No.:

00195847

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	L85195AP1984PLC004393	NEULAND LABORATORIES LTD.	Director	24/07/1999	24/07/1999	-	Active	NO
2	L85110KA1995PLC019126	BRIGADE ENTERPRISES LIMITED	Director	06/03/2000	06/03/2000	-	Active	NO
3	U85110KA1995PLC017248	CANBANK VENTURE CAPITAL FUND LIMITED	Nominee director	15/03/2006	15/03/2006	29/09/2007	Active	NO
4	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Director	30/09/2008	19/01/2008	-	Active	NO
5	U45201KA2008PTC045861	BCV DEVELOPERS PRIVATE LIMITED	Director	19/03/2009	19/03/2009	-	Active	NO

Name :

Mr. Hari Prasad Cherukuri

Designation :

Director

Address :

A-3, P.W.O, Housing Complex, Sector -43, Gurgaon -122002, Haryana, India

Date of Birth/Age :

22.08.1945

Date of Appointment :

30.09.2008

Din No.:

00471908

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	U45201HR2006PTC036077	ECO CARE PROJECTS PRIVATE LIMITED	Director	03/03/2006	03/03/2006	28/05/2009	Active	NO
2	U45101AP2006PTC050935	BHARAT INFRATECH - PROJECTS PRIVATE LIMITED	Director	22/08/2006	22/08/2006	26/03/2012	Active	NO
3	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Director	30/09/2008	19/01/2008	-	Active	NO
4	U40109DL2008PTC173228	ATHENA KYNSHI POWER PRIVATE LIMITED	Director	25/09/2008	29/01/2008	-	Active	NO
5	U40109DL2008PTC174203	ATHENA EMRA POWER PRIVATE LIMITED	Director	27/09/2012	20/02/2008	-	Active	NO
6	U45200DL2008PTC174526	AMUNRA PROPERTIES PRIVATE LIMITED	Director	26/02/2008	26/02/2008	15/03/2011	Active	NO
7	U74210DL2007PTC160401	ATHENA ENERGY VENTURES PRIVATE LIMITED	Director	23/06/2008	19/03/2008	-	Active	NO
8	U31908AP2007PLC058993	ATHENA CHHATTISGARH POWER LIMITED	Director	27/06/2008	28/03/2008	-	Active	NO
9	U45400DL2008PTC176328	PEMA RESORTS & HOLIDAYS PRIVATE LIMITED	Director	18/08/2009	22/04/2009	-	Active	NO
10	U40105DL2007PLC166628	ATHENA DEMWE POWER LIMITED	Director	07/09/2010	04/07/2009	-	Active	NO
11	U52605AP2011PTC072356	SAISANJ RETAIL PRIVATE LIMITED	Director	20/01/2011	20/01/2011	-	Active	NO
12	U74920AP2009PTC065653	ATHENA SECURITY SOLUTIONS INDIA PRIVATE LIMITED	Director	28/06/2011	28/06/2011	06/06/2012	Active	NO

Name :

Mr. Narayan Ramachandran

Designation :

Director

Address :

D -51,Shobha Ivoy II,7/1 St. John Road, Ulsoor, Bangalore – 560004, Karnataka, India

Date of Birth/Age :

14.07.1962

Date of Appointment :

19.01.2008

Din No.:

01873080

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	U33112TN2005PTC056638	DYANSYS INDIA PRIVATE LIMITED	Director	17/06/2005	17/06/2005	02/05/2011	Active	NO
2	U65990MH1993FTC074460	MORGAN STANLEY INVESTMENT MANAGEMENT PRIVATE LIMITED	Director	09/06/2008	22/06/2007	-	Active	NO
3	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Director	30/09/2008	19/01/2008	-	Active	NO
4	U72900MH2003PTC140982	MORGAN STANLEY ADVANTAGE SERVICES PRIVATE LIMITED	Director	29/09/2008	12/03/2008	22/10/2009	Active	NO
5	U31409KA2008PTC047239	SOGEFI MNR FILTRATION INDIA PRIVATE LIMITED	Director	29/07/2008	29/07/2008	-	Active	NO
6	U55101GA2006PTC004387	BEER WORKS RESTAURANTS AND MICROBREWERY PRIVATE LIMITED	Director	17/09/2008	17/09/2008	-	Active	NO
7	U22990MH1998PTC115305	MORGAN STANLEY INDIA COMPANY PRIVATE LIMITED	Director	30/09/2009	27/10/2008	18/06/2010	Active	NO
8	U24299DL2005PTC142116	GEIST RESEARCH PRIVATE LIMITED	Director	08/11/2008	08/11/2008	-	Active	NO
9	U74900AP2009PTC065761	SKS Trust Advisors Private Limited	Additional director	15/11/2009	15/11/2009	05/03/2010	Active	NO
10	U65923KA2006PTC040028	JANALAKSHMI FINANCIAL SERVICES PRIVATE LIMITED	Director	22/06/2010	04/03/2010	-	Active	NO
11	U65191PN1943PLC007308	THE RATNAKAR BANK LIMITED	Director	25/08/2010	20/05/2010	-	Active	NO
12	U51909TN2010PTC077470	Counsyl India Genetics Private Limited	Director	23/09/2010	23/09/2010	-	Active	NO
13	U85100KA2011PTC056725	InKlude Labs Private Limited	Director	20/01/2011	20/01/2011	-	Active	NO
14	U85191KA2011NPL061094	Action Foundation for Social Services	Director	08/11/2011	08/11/2011	-	Active	NO

Name :

Mr. Anil Laxman Devli

Designation :

Director

Address :

2, Pearl Mansion, 91, Maharshi Karve Raod, Marine Lines, Azad Maidan, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

06.10.1963

Date of Appointment :

00042372

Din No.:

30.09.2008

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	L63000MH1988PLC048500	SHREYAS SHIPPING AND LOGISTICS LIMITED	Whole-time director	21/04/2007	21/04/2005	13/01/2009	Active	NO
2	U61100MH1994PLC077152	Shreyas Relay Systems Limited	Whole-time director	27/09/2008	01/08/2007	13/01/2009	Active	NO
3	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Director	30/09/2008	19/01/2008	-	Active	NO
4	U74999KL2004PTC017443	INDIA GATEWAY TERMINAL PRIVATE LIMITED	Alternate director	25/01/2008	25/01/2008	18/06/2008	Active	NO
5	U61200MH2009PTC197594	MMAXX DREDGING PRIVATE LIMITED	Director	04/12/2009	04/12/2009	-	Strike off	NO
6	AAA-3332	ABDHI SHIPPING & LOGISTICS LLP	Designated Partner	07/01/2011	07/01/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	Address	No. of Shares	% of Shareholding
Savijana Sea Foods (P) Limited	#20, Subbammal Ciovies street, Uppatam, Puducherry 605 001	5479863	28.63
P.Jairaj Kiynar	MCH N08-2-416, Block A, Stone Valley, S-8, ROAC NO 4 Banjarahills HYD-34	602510	3.15
Sanjeev Dhawan	5/o Lt. Col. M. L. Dhawan, B-205, Sainikpuri, Secunderabad- 500 594	579768	3.03
A, K. Sawhney	E1, Hidden Treasure, Somajiguda, Hyderabad	553539	2.89
R. Virender -Prasad	181, Road. 11, Gunrock Enclave, Phase II, Sikh Road, Secunderabad - 500 009	512604	2.68
Suresh Dhawan	B-205, Sainikpuri, Secunderabad- 500 594	15000	0.08
Vivek Bali	Lamnaico Limited, P.O.Box 5687, Sharjah, U.A.E.	105450	0.55
Compar Estates and Agencies Private Limited {Formarlly Compar Investments Private Limited)	8-2-540/2, Banjara Hills, Hyderabad-500 034	320795	1.68
Naragjuna R.Ponugoti and Padmavathi Ponugoti	261 E. Trailwood Dr.,Terre Haute, IN 47802, USA	1799262	9.40
Sandeep Ramprakash Sharma and Supriya Sharma	5upriya Sandeep Sharma, 620, Uvaide Court, Allen	21075	0.11
Vigneshwara Holdings Limited	B/50, Deluxe Building, New Link Road, Near Monginies Fa	292125	1,53
Mini Chandrasekharan	C 813/814 Legend Apts, St. Antony Road.Vakola, Santa Cruz (East),Mumbai 4Q0 055	30000	0.16
Padmavathi Ponugoti and Dr Nagarjuna R Ponugoti	261 E. Trailwood Dr., Terre Haute, IN 47802, USA	207513	1.08
P. Suma	MCH N08-2-416, BLOCK A, STONE VALLEY, S-8, ROAC NO 4 BANJARAHILLS HYD-34	45000	0.24
Administrator of the Specified Undertaking of Unit Trust of India (SUUTI)	UTT Tower, Gn Block, Bandra -Kurla Complex,Bandra (E), Mumbai -400 051	1500000	7.84
Park Equity Holdings Limited	4th Floor, Les Cascades, Edith Cavell Street, Port Louis, Mauritius	2686500	14.04
Infrastructure India Holdings Fund LLC	International Financial Services Limited, IFS Court, Twenty Eight Cybercitv, Ebene, Mauritius.	1685838	8.81
West Coast Port Limited	5th Floor, Chancery House, Lislet Geoffroy Street, Port Louis	1472727	7.69
International Finance Corporation	International Financial Services Limited, IFS Court, Twenty Eight Cyberctty, Ebene, Mauritius.	1230505	6.43
Total		19140074	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2011

Category	Percentage
Venture Capital	7.84
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	49.63
Bodies corporate	30.30
Directors or relatives of directors	12.07
Other top fifty shareholders	0.16
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Professional Service of Comprehensive Port Operation and Management.

GENERAL INFORMATION

Customers :

West Coast

· Kandla Port Trust

· Reliance Port and Terminals Limited, Jamnagar

· Gujarat Pipavav Port Limited

· Dahej Harbour and Infrastructure Limited, Dahej

· Gujarat Chemical Port Terminal Company Limited, Dahej

· Jawaharlal Nehru Port Trust

· Cochin Port Trust

· Dighi Port Trust

· JSW Jaigarh Port Trust

· Shipping Corporation of India

· Petronet LNG (Kochi)

· Mumbai Port Trust.

East Coast

· Paradip Port Trust 

· Kakinada Sea Ports Limited, Kakinada

· Chemplast Sanmar Limited

· Krishnapatnam Port company Limited

· Chennai Petroleum Corporation Limited

· Ennore Port Ltd , Ennore *

· Karaikal Port Private Limited

· Chennai Port Trust

· PPN Power

· Vizag Port Trust

· Coromandel International Limited

No. of Employees :

Not Available

Bankers :

· HDFC Bank Limited, HDFC House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

· Standard Chartered Bank, 6-3-1090, Raj Bhavan Road, Hyderabad -500082, Andhra Pradesh, India

Facilities :

Secured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Rupee term loans banks secured	1855.443	1392.508
Foreign currency loans financial institutions secured	718.750	833.750
Working capital loans banks secured	50.005	73.807
Other debt secured	1402.402	1130.582
Total	4026.600	3430.647

Unsecured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Foreign currency loans financial institutions unsecured	172.500	201.250
Total	172.500	201.250

Banking Relations :	--
Auditors :
Name :	BSR and Company Chartered Accountant
Address :	Reliance Humsafar, IV Floor, Road No. 11 Banjarahills, Hyderabad- 500 084,Andhra Pradesh, India
Pan No.:	AAIFB0630K
Subsidiary companies :	· Sea Sparkle Harbour Services Limited (SSHSL) CIN No.:U74999AP2001PLC038164 · Sealion Sparkle Maritime Services Limited (SSMSL) Cin No.: U63023AP2002PLC038824 · Sai Sparkle Dredging and Infrastructure Limited (SSDIL) Cin No.: U61100AP2011PLC073174 · Sparkle Overseas Pte Ltd (SOPL) · Sparkle Port Services Limited (SPSL)
Joint Venture :	· Sealion Sparkle Port and Terminal Services ( Dahej) Limited SSPTDL) CIN No.: U63011GJ2002PLC041525 · Khimji’s Sparkle Maritime Services (Joint Venture of SOPL)

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs.10/- each	Rs.300.000 Millions
1468050	Preferences shares	Rs.10/-each	Rs.500.018 Millions
	Total		Rs.800.018 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
19140074	Equity Shares	Rs.10/- each	Rs.191.401 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		191.401	624.095	179.096
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2579.420	1732.690	1325.589
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2770.821	2356.785	1504.685
LOAN FUNDS
1] Secured Loans		4026.600	3430.647	2545.389
2] Unsecured Loans		172.500	201.250	230.000
TOTAL BORROWING		4199.100	3631.897	2775.389
DEFERRED TAX LIABILITIES		53.587	52.230	4.556
TOTAL		7023.508	6040.912	4284.630
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5609.298	3908.854	3534.283
Capital work-in-progress		418.214	1105.173	131.532
INVESTMENT		355.446	293.274	293.274
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	29.836	22.008	19.044
	Sundry Debtors	498.046	353.222	197.586
	Cash & Bank Balances	264.263	481.824	190.267
	Other Current Assets	41.664	30.708	0.000
	Loans & Advances	252.891	147.949	134.198
Total Current Assets		1086.700	1035.711	541.095
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	161.935	136.947	71.247
	Other Current Liabilities	246.711	128.410	112.667
	Provisions	37.504	36.743	31.640
Total Current Liabilities		446.150	302.100	215.554
Net Current Assets		640.550	733.611	325.541
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7023.508	6040.912	4284.630

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2534.591	2151.112	1533.421
		Other Income	52.501	91.454	57.212
		TOTAL (A)	2587.092	2242.566	1590.633
Less	EXPENSES
		Consumption materials changes inventories	88.869	53.129
		Manufacturing service costs	761.539	648.701
		Employee related expenses	271.472	223.550
		Administrative selling other expenses	177.503	162.108
		TOTAL (B)	1299.383	1087.488	810.984
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1287.709	1155.098	779.649
Less	FINANCIAL EXPENSES (D)		350.671	304.516	234.584
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		937.038	850.582	545.065
Less/ Add	DEPRECIATION/ AMORTISATION (F)		467.371	321.841	229.065
	PROFIT BEFORE TAX (E-F) (G)		469.667	528.741	316.000
Less	TAX (H)		27.379	89.779	19.299
	PROFIT AFTER TAX (G-H) (I)		442.288	438.942	296.701
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1507.613	1122.459	880.867
Less	APPROPRIATIONS
	Proposed dividend on equity shares			25.969	22.387
	Tax on proposed dividend			4.413	3.804
	Proposed dividend on preference shares			1.246	0.000
	Tax on proposed dividend		130.367	0.212	0.000
	Transfer to tonnage tax reserve			60.000	60.000
	Transfer from tonnage tax reserve			(60.000)	(38.500)
	Transfer to general reserve		(60.000)	21.947	7.418
	BALANCE CARRIED TO THE B/S		1879.535	1507.613	1122.459
	EARNINGS IN FOREIGN CURRENCY		157.098	295.433	85.836
	IMPORTS
		Capital Goods	1276.797	1421.541	1249.986
	TOTAL IMPORTS		1276.797	1421.541	1249.986
	Earnings Per Share (Rs.)		23.73	24.43	16.57

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	17.09	19.57	18.65
Net Profit Margin (PBT/Sales)	(%)	18.53	24.58	20.61
Return on Total Assets (PBT/Total Assets}	(%)	7.01	10.69	7.75
Return on Investment (ROI) (PBT/Networth)		0.17	0.22	0.21
Debt Equity Ratio (Total Liability/Networth)		1.68	1.67	1.99
Current Ratio (Current Asset/Current Liability)		2.43	3.43	2.51

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
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	Yes
Major Suppliers	No
Major Customers	Yes
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	No
Major Shareholders, if applicable	Yes
Date of Birth of Proprietor/Partner/Director, if available	Yes
PAN of Proprietor/Partner/Director, if available	No
Voter ID No of Proprietor/Partner/Director, if available	No
External Agency Rating, if available	Yes

OPERATIONS:

The Financial year 2010-11 has been a real roller coaster of a year that started with promise of decent recovery of global economy coupled with all round optimistic sentiments. Then last two quarters witnessed dwindling investor confidence in the wake of the euro crisis, political turmoil in the Middle-East and North Africa which were further compounded by the natural disaster & nuclear catastrophe of Japan. Notwithstanding the global economic upheavals, the Indian Economy lodged a decent rate of 8.5% GDP growth during the financial year mainly supported by its robust domestic demand and modest revival in investor and consumer sentiment.

The upsurge in the economy activity however could not lead to corresponding growth in the Port activity and the Indian Major Ports registered a mere 1.57% growth during the financial year. Factors like Ban on iron ore exports, sluggish development in many of the planned power projects resulting in lower than expected coal traffic and slackening of consumer product exports significantly retarded the growth of Indian Port sector during the period. The Port sector experienced similar maladies that have generally affected infrastructure development in India. There is an need for significant investment in and fiscal support for deepening of depths, modernizing cargo handling machinery and the hinterland connectivity for the ports to achieve the objective of increased and efficient cargo movement that is harmonious with the economic growth. Need of the hours is the concerted administration action for expeditious implementation of Greenfield projects for addition of capacity in the Ports

Sector, the gateway for international trade and commerce. Despites the various financial, socio- economic and bureaucratic constraints, Indian Port sector achieved a major milestone by increasing its annual capacity to over 1 billion tones during the current financial year and it now aspires to achieve a target capacity of 3.2 billion tonnes by 2020.

This augurs well for the Port Sector as considerable attention and investment would be directed to this Sector in the years to follow. to eliminate the constraints which have thus far been impeded efficient handling of cargo and faster turnaround of vessels. The anticipated year on year growth of the Indian economy would sooner than later propel hectic development of this sector and bunching of implementation of the projects is a likely scenario that may unfold in future.

In this back drop, during the year under report, the company witnessed considerable delays and deferment in implementation of many projects in which it had participated. Projects have been deferred for considerably long periods while a few other have unfortunately been shelved in entirety. In order to reduce the standing costs of the assets acquired for participation in the port projects, the management has strived its best for their alternate deployment. The Assets were also used for the company’s internal requirement for substitution during dry-dock etc affectively reducing the operation costs. On the other hand some clients of the company converted this period of depressed activity in this sector to an opportunity to scale up their operations in anticipation of the future demand and went ahead with the schedule of contract finalization. This contradictory and complex business environment has resulted in below par performance for the year in comparison with the previous years. During the year under review the company won the prestigious long term contract floated as a international tender by Petronet LNG Limited, Kochi for their upcoming LNG terminal at Cochin and by virtue of this acquisition continues to maintain its position as the sole LNG port operator in India. This contract is scheduled to commence during the second quarter of the calendar year 2012 .. It is a matter of pride to also report that the company has successfully commenced operations at Dighi Port, Vishakhapatnam Port, Chennai Port, Krishnapatnam Port (4 th Tug) and JNPT during the financial year and that it is declared as the least bidder for many tenders in which it had competed with others and is waiting the award of the contracts.

Further, the company had successfully completed many of their dredging contracts and had been able to bag many new projects during the Financial Year. They have been successful in venturing into the overseas market in the dredging segment and one of their dredgers has been currently deployed for maintenance dredging at various fishing harbors in the Middle East. The Company’s major dredging capacity continues to be engaged at Kakinada Port where a further contract has been awarded for Capital Dredging in proposed basin of 5th, 6th & 7th Berths at

Kakinada Deep Water Port.

NEW CONSTRUCTIONS:

The construction of three tug boats required for their Oman Joint Venture Project has been successfully completed under the company’s guidance and these vessels have been mobilized safely to commence operations at Oman. The company has also taken up new construction activity of four more tug boats for upcoming PLL Kochi Project and they are confident that the vessels would be delivered to the client in conformity with the deployment schedule.

FUTURE PROSPECTS:

Port are the gateway for economic development and hence India's Port sector would continue to expand at a robust pace and matching with the substantial economic growth. The combination of increasing domestic consumer demand and overseas trade volumes are certain to boost the cargo volumes to and from the country's ports. The country's growing trade relationship with China and other Indian Ocean rim countries is expected to provide fuel for growth over the next few years. Further the development of facilities such as the International Container terminal at Vallarpadam in Kerala to establish a transshipment hub on the main international trade route between Europe and Asia would result in increase activity at the ports by providing easy access for trade and commerce.

Demand for port infrastructure would be primarily driven by the 3Cs: coal, containers and crude. Huge coal fired power plant projects which envisage new capacity addition of 30 GW in the next five years along with new cement and steel units would drive the Indian Port sector development. Containerized cargo and crude are two other prominent cargo segments which would provide further buoyancy to the Port sector. The anticipated favourable demand environment is in turn expected to spur growth in various port and related logistics and service activities.

As the income levels and the demand for consumer goods expands with India's impressive economic growth, it would provide logical fuel for rapid development particularly for the country's container ports. APM Terminals (APMT), the terminals-operating arm of Danish shipping and oil and gas conglomerate viz AP Moller Maersk, have signed an agreement to set up a container-handling facility at the new private Indian port of Dhamra , located in the north-east of the country. Philippines-based terminals operator International Container Terminal Services (ICTSI) also revealed that it is to make its first foray into the Indian ports sector through a recently signed agreement to develop a new container terminal in the state of Tamil Nadu.

The initiative announced in Indian Budget 2011-12 that includes provision for domestic shipping companies to import spare parts duty free, is likely to give boost to the country’s shipbuilding and repair Industry which is gradually becoming a preferred destination for small to medium sized vessels. The declarations by various infrastructure companies to foray into ship building and repair business is expected to increase the Port logistics related activities significantly.

In recent times, dredging activities in ports, both capital and maintenance, has witnessed a massive growth in demand in India. This is increasingly being driven by the government’s plans of constructing new ports and expanding the existing ones to meet future traffic targets. Use of larger vessels, an increased focus on coastal shipping and inland waterways, and the demand for improved coastal engineering and management are also leading to the growth in demand

FORM 8

Corporate identity number of the company	U05005AP1995PLC021217
Name of the company	OCEAN SPARKLE LIMITED
Address of the registered office or of the principal place of business in India of the company	1^st Floor, Plot No. 128, Srinagar Colony, Hyderabad -500073, Andhra Pradesh, India Email: oslhyd@oceansparkle.in
This form is for	Creation of charge
Type of charge	Book debts
Particular of charge holder	Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, DR. Annie Besant Road, Worli, Mumbai – 400018,Maharashtra, India
Nature of instrument creating charge	Deed of Hypothecation for the non-revolving term loan -V facility sanctioned vide YBL/MUM/FL/243/2012-2013.
Date of instrument Creating the charge	12.07.2012
Amount secured by the charge	Rs. 12.07.2012
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest TL - 4.50% above YBL's base rate. Currently the effective rate would be 15.00% p.a. LOU for Buyer's credit / Letter of credit (Usance and Sight) - to be decided at the time of issuance of buyers credit Term of Payment: TL - 3 months of moratorium and repayment in 27 equal quarterly installments with the first repayment happening at the end of 6th month from the date of disbursement of TL / Buyer's Credit (whichever is earlier) LOU for Buyer's credit - 3 months of moratorium and repayment in 11 qrtly installments of the original BC amount with the first repayment happening at the end of 6th month from the date of disbursement of Buyer's Credit and the balance at the end of 36 months by way of disbursemen of TL Margin Nil Extent and operation of the charge TL - Exclusive charge of the tug acquired, receivables from the contracts arising from the deployment of the said tug and assignment of insurance policy of tug. LOU for Buyers Credit / LOC (Usance and Sight) - Same as TL. Others: TENOR: TL - Door to door tenor of 84 months; LOU for Buyer's credit - 36 months; LOC (Usance and Sight) - maximum of 12 months
Short particulars of the property charged (Including location of the property)	1. Exclusive charge on the acquired tug. 2. Exclusive charge on the receivables from the contracts arising from the deployment of Tugs financed by YEL for the SCI Contract(Receivables incl. revenues from the contract, insurance proceeds, liquidated damages and any other income from the Tugs) 3. Assignment of insurance policy of Tug in favour of YBL

CONTINGENT LIABILITY NOT PROVIDED FOR IN RESPECT OF:

(Rs. In Millions)

	31.03.2011	31.03.2010
Commitments / contingent liabilities:
Guarantees issued by banks	211.340	200.043
Guarantees issued by the Company on behalf of subsidiaries and joint venture of the Company	630.050	566.250
Claims against the Company not acknowledged as debts in respect of:
Income tax matters, pending decisions on various appeals made by the Company and by the department*	6.704	7.565
Sales tax matters, under dispute	12.752	2.371
Customs duty paid under protest	-	2.020
Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances)	252.092	843.377

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 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.54.34
UK Pound	1	Rs.86.96
Euro	1	Rs.69.43

INFORMATION DETAILS

Report Prepared by :

BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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		58

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.