MIRA INFORM REPORT

Report Date :

10.09.2012

IDENTIFICATION DETAILS

Name :	V.V. TITANIUM PIGMENTS PRIVATE LIMITED
Registered Office :	Mahadevankulam, Tisaiyanvillai, Tirunelveli – 627657, Tamilnadu
Country :	India
Date of Incorporation :	14.09.2011
Com. Reg. No.:	18-082322
Capital Investment / Paid-up Capital :	Rs.5.000 Millions
CIN No.: [Company Identification No.]	U24110TN2011PTC082322
Legal Form :	Private Limited Liability Company
Line of Business :	Manufactures and Exports of by-product Ferrous Sulphate.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
-	NB	New Business	-

Status :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new company and yet to establish itself gradually. Mr. J. Tanguturayan form Finance Departments denied to part information about the company. Payments are unknown. The company can be considered for business dealings on a safe and secured 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

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.

INFORMATION DECLINED BY

Name :	Mr. J. Tanguturayan
Designation :	Finance and Accountant
Contact No.:	91-461-2340491
Date :	08.09.2012

LOCATIONS

Registered Office :	Mahadevankulam, Tisaiyanvillai, Tirunelveli – 627657, Tamilnadu, India
Tel. No.:	91-4637-272365
Fax No.:	91-4637-271802
E-Mail :	chennai@transworldgarnet.com info@vvtipigments.com
Website :	http://www.vvtipigments.com
Factory :	A-81,Sipcot Industrial Complex, South Veerapandiapuram Po, Thoothukudi -628002, Tamilnadu, India.
Tel. No.:	91-461-2340491/ 92
Fax No.:	91-461-2340449

DIRECTORS

Name :

Mr. Subbaiah Nadar Vaikundarajan

Designation :

Director

Address :

M L Theri Road, Keeraikaranphattu, Tisaiyanvilai, Tirunelveli – 627657, Tamilnadu, India

Date of Birth/Age :

04.11.1955

Date of Appointment :

14.09.2011

PAN No.:

ABEPV0032E

DIN No.:

00794778

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	U29256TN1997PTC038709	INDUSTRIAL MINERALS INDIA PRIVATE LIMITED	Managing director	25/07/1997	25/07/1997	-	Active	NO
2	U13209TN2001PTC046645	V.V MINERALS PRIVATE LIMITED	Managing director	16/02/2001	16/02/2001	13/07/2011	Active	NO
3	U60210TN2002PTC050040	FANCY TRANSPORTS PRIVATE LIMITED	Director	16/12/2002	16/12/2002	-	Active	NO
4	U18101TN2002PTC050088	APOLLO TEXTILES PRIVATE LIMITED	Managing director	24/12/2002	24/12/2002	-	Dormant	NO
5	U01119TN1990PTC019800	RIVERWAY AGRO PRODUCTS PRIVATE LIMITED	Director	02/06/2003	02/06/2003	-	Active	NO
6	U22121TN2002PTC049902	CURIO AUTO MARK PRIVATE LIMITED	Director	09/02/2004	09/02/2004	29/03/2008	Active	NO
7	U63040TN2002PTC049950	MARUTI TRANSPORTS PRIVATE LIMITED	Director	07/02/2005	07/02/2005	-	Active	NO
8	U15511TN2002PTC048303	ASWATHAASUGARS DISTILLERIES PRIVATE LIMITED	Director	18/02/2005	18/02/2005	-	Active	NO
9	U28939TN2007PTC064148	V.V.IRON AND STEEL COMPANY PRIVATE LIMITED	Managing director	29/06/2007	29/06/2007	14/07/2011	Active	YES
10	U93090TN1995PTC032459	TRANSWORLD GARNET INDIA PRIVATE LIMITED	Director	29/09/2008	29/09/2008	-	Active	NO
11	U17115TZ1991PTC003564	SHREE SANGHVI MILLS PRIVATE LIMITED	Managing director	01/11/2009	01/11/2009	-	Active	NO
12	U24110TN2011PTC082322	V.V. TITANIUM PIGMENTS PRIVATE LIMITED	Director	14/09/2011	14/09/2011	-	Active	NO
13	U64200TN2011PTC082529	V V NETWORK PRIVATE LIMITED	Director	28/09/2011	28/09/2011	-	Active	NO
14	U18201KA2006PLC038709	ISHWARYA AZOICS LIMITED	Managing director	01/01/2012	01/01/2012	-	Active	NO
15	U24222TN2004PLC052941	EDISON PAINTS LIMITED	Managing director	01/01/2012	01/01/2012	-	Active	NO

Name :

Mr. Subbiah Nadar Jegadeesan

Designation :

Director

Address :

3, M.L Theri Road, Keeraikaranthattu, Mahadevankulam Po, Thisayan Vilai, Tirunelveli - 627657, Tamilnadu, India

Date of Birth/Age :

17.01.1959

Date of Appointment :

14.09.2011

PAN No.:

ABXPJ7672F

DIN No.:

00794415

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	U29256TN1997PTC038709	INDUSTRIAL MINERALS INDIA PRIVATE LIMITED	Director	29/08/2000	29/08/2000	-	Active	NO
2	U13209TN2001PTC046645	V.V MINERALS PRIVATE LIMITED	Director	16/02/2001	16/02/2001	13/07/2011	Active	NO
3	U18101TN2002PTC050088	APOLLO TEXTILES PRIVATE LIMITED	Director	24/12/2002	24/12/2002	-	Dormant	NO
4	U22121TN2002PTC049902	CURIO AUTO MARK PRIVATE LIMITED	Director	09/02/2004	09/02/2004	27/01/2012	Active	NO
5	U15511TN2002PTC048303	ASWATHAASUGARS DISTILLERIES PRIVATE LIMITED	Director	18/02/2005	18/02/2005	-	Active	NO
6	U28939TN2007PTC064148	V.V.IRON AND STEEL COMPANY PRIVATE LIMITED	Director	29/06/2007	29/06/2007	14/07/2011	Active	YES
7	U93090TN1995PTC032459	TRANSWORLD GARNET INDIA PRIVATE LIMITED	Director	29/09/2008	29/09/2008	-	Active	NO
8	U17115TZ1991PTC003564	SHREE SANGHVI MILLS PRIVATE LIMITED	Director	01/11/2009	01/11/2009	-	Active	NO
9	U24110TN2011PTC082322	V.V. TITANIUM PIGMENTS PRIVATE LIMITED	Director	14/09/2011	14/09/2011	-	Active	NO
10	U64200TN2011PTC082529	V V NETWORK PRIVATE LIMITED	Director	28/09/2011	28/09/2011	-	Active	NO
11	U18201KA2006PLC038709	ISHWARYA AZOICS LIMITED	Director	01/01/2012	01/01/2012	-	Active	NO
12	U24222TN2004PLC052941	EDISON PAINTS LIMITED	Director	01/01/2012	01/01/2012	-	Active	NO

Name :

Mr. Vaikundarajan Subramanian

Designation :

Director

Address :

4, Keeraikaran Thattu, M L Theri Road, Tisayanvilai, Tirunelveli – 627657, Tamilnadu, India

Date of Birth/Age :

02.06.1982

Date of Appointment :

14.09.2011

PAN No.:

ANVPS2304R

DIN No.:

00794541

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	U14102TN2002PTC048302	A WORLD ROCK PRIVATE LIMITED	Director	09/09/2002	09/09/2002	-	Active	NO
2	U18101TN2002PTC050088	APOLLO TEXTILES PRIVATE LIMITED	Director	24/12/2002	24/12/2002	-	Dormant	NO
3	U28939TN2007PTC064148	V.V.IRON AND STEEL COMPANY PRIVATE LIMITED	Director	29/06/2007	29/06/2007	13/07/2011	Active	YES
4	U93090TN1995PTC032459	TRANSWORLD GARNET INDIA PRIVATE LIMITED	Director	29/09/2008	29/09/2008	-	Active	NO
5	U13209TN2001PTC046645	V.V MINERALS PRIVATE LIMITED	Additional director	05/12/2008	05/12/2008	13/07/2011	Active	NO
6	U17115TZ1991PTC003564	SHREE SANGHVI MILLS PRIVATE LIMITED	Director	08/12/2009	08/12/2009	-	Active	NO
7	U24110TN2011PTC082322	V.V. TITANIUM PIGMENTS PRIVATE LIMITED	Director	14/09/2011	14/09/2011	-	Active	NO
8	U18201KA2006PLC038709	ISHWARYA AZOICS LIMITED	Director	01/01/2012	01/01/2012	-	Active	NO
9	U24222TN2004PLC052941	EDISON PAINTS LIMITED	Director	01/01/2012	01/01/2012	-	Active	NO

Name :

Mr. Jegatheesan Muthurajan

Designation :

Director

Address :

No-3, M.L. Theri Road, Keeraikaranthattu, Tisaiyanvillai Tirunelveli - 627657, Tamilnadu, India

Date of Birth/Age :

06.10.1985

Date of Appointment :

14.09.2011

PAN No.:

AKZPM1405G

DIN No.:

01449960

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	U28939TN2007PTC064148	V.V.IRON AND STEEL COMPANY PRIVATE LIMITED	Director	29/06/2007	29/06/2007	14/07/2011	Active	YES
2	U93090TN1995PTC032459	TRANSWORLD GARNET INDIA PRIVATE LIMITED	Director	29/09/2008	29/09/2008	-	Active	NO
3	U13209TN2001PTC046645	V.V MINERALS PRIVATE LIMITED	Additional director	05/12/2008	05/12/2008	13/07/2011	Active	NO
4	U17115TZ1991PTC003564	SHREE SANGHVI MILLS PRIVATE LIMITED	Director	08/12/2009	08/12/2009	-	Active	NO
5	U24110TN2011PTC082322	V.V. TITANIUM PIGMENTS PRIVATE LIMITED	Director	14/09/2011	14/09/2011	-	Active	NO
6	U18201KA2006PLC038709	ISHWARYA AZOICS LIMITED	Director	01/01/2012	01/01/2012	-	Active	NO
7	U24222TN2004PLC052941	EDISON PAINTS LIMITED	Director	01/01/2012	01/01/2012	-	Active	NO

Name :

Mr. Vaikundarajan Velmurugan

Designation :

Director

Address :

No.4, M.L. Theri Road, Mahadevan Kulam, District Tirunelveli - 627657, Tamilnadu, India

Date of Birth/Age :

03.07.1986

Date of Appointment :

14.09.2011

PAN No.:

AEDPV5896G

DIN No.:

02400199

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	U93090TN1995PTC032459	TRANSWORLD GARNET INDIA PRIVATE LIMITED	Director	29/09/2008	29/09/2008	-	Active	NO
2	U13209TN2001PTC046645	V.V MINERALS PRIVATE LIMITED	Additional director	05/12/2008	05/12/2008	13/07/2011	Active	NO
3	U17115TZ1991PTC003564	SHREE SANGHVI MILLS PRIVATE LIMITED	Director	08/12/2009	08/12/2009	-	Active	NO
4	U24110TN2011PTC082322	V.V. TITANIUM PIGMENTS PRIVATE LIMITED	Director	14/09/2011	14/09/2011	-	Active	NO
5	U18201KA2006PLC038709	ISHWARYA AZOICS LIMITED	Director	01/01/2012	01/01/2012	-	Active	NO
6	U24222TN2004PLC052941	EDISON PAINTS LIMITED	Director	01/01/2012	01/01/2012	-	Active	NO

Name :

Mr. Chenthil Rajan Jegadeesan

Designation :

Director

Address :

3, M.L.Theri Road, Keeraikaranthattu, Mahadevankulam (PO), Tisaiyanvilai, District Tirunelveli - 627657, Tamilnadu, India

Date of Birth/Age :

28.06.1988

Date of Appointment :

14.09.2011

PAN No.:

AHZPC0253F

DIN No.:

02400272

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	U93090TN1995PTC032459	TRANSWORLD GARNET INDIA PRIVATE LIMITED	Director	29/09/2008	29/09/2008	-	Active	NO
2	U13209TN2001PTC046645	V.V MINERALS PRIVATE LIMITED	Additional director	05/12/2008	05/12/2008	13/07/2011	Active	NO
3	U17115TZ1991PTC003564	SHREE SANGHVI MILLS PRIVATE LIMITED	Director	08/12/2009	08/12/2009	-	Active	NO
4	U24110TN2011PTC082322	V.V. TITANIUM PIGMENTS PRIVATE LIMITED	Director	14/09/2011	14/09/2011	-	Active	NO
5	U18201KA2006PLC038709	ISHWARYA AZOICS LIMITED	Director	01/01/2012	01/01/2012	-	Active	NO
6	U24222TN2004PLC052941	EDISON PAINTS LIMITED	Director	01/01/2012	01/01/2012	-	Active	NO

Name :

Ms. Karthiyayini Arumuga Selvan

Designation :

Director

Address :

4, Ml Theri Road, Keeraikaranthattu, Radhapuram Taluk, Tisayanvillai - 627657, Tamilnadu, India

Date of Birth/Age :

28.05.1989

Date of Appointment :

14.09.2011

PAN No.:

BACPK6338N

DIN No.:

03589386

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	U93090TN1995PTC032459	TRANSWORLD GARNET INDIA PRIVATE LIMITED	Director	28/09/2011	13/07/2011	-	Active	NO
2	U24110TN2011PTC082322	V.V. TITANIUM PIGMENTS PRIVATE LIMITED	Director	14/09/2011	14/09/2011	-	Active	NO

Name :

Mrs. Chandraboopathi Vaikundaratan

Designation :

Director

Address :

4, M L Theri Road, Keeraikaranthattu, Mahadevankulam Post, Tisaiyanvillai - 627657, Tamilnadu, India

Date of Birth/Age :

08.02.1961

Date of Appointment :

14.09.2011

PAN No.:

AEUPC3562R

DIN No.:

03584078

Name :

Ms. Renuka Jegatheesan

Designation :

Director

Address :

3, M L Theri Road, Keeraikaranthattu, Mahadevankulam Post, Tisayanvillai - 627657, Tamilnadu, India

Date of Birth/Age :

14.04.1963

Date of Appointment :

14.09.2011

PAN No.:

ABXPS7678R

DIN No.:

03584149

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	U93090TN1995PTC032459	TRANSWORLD GARNET INDIA PRIVATE LIMITED	Director	28/09/2011	13/07/2011	-	Active	NO
2	U24110TN2011PTC082322	V.V. TITANIUM PIGMENTS PRIVATE LIMITED	Director	14/09/2011	14/09/2011	-	Active	NO

Name :

Mr. Subburajan

Designation :

Director

Address :

3, M L Theri Road, Keeraikaranthattu, Tisayanvillai - 627657, Tamilnadu, India

Date of Birth/Age :

09.08.1991

DIN No.:

03584085

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	U93090TN1995PTC032459	TRANSWORLD GARNET INDIA PRIVATE LIMITED	Director	28/09/2011	13/07/2011	-	Active	NO
2	U24110TN2011PTC082322	V.V. Titanium Pigments Private Limited	Director	14/09/2011	14/09/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. J. Tanguturayan
Designation :	Finance and Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 08.09.2011

Names of Shareholders	No. of Shares
Subbaiah Nadar Vaikundarajan	5000
Subbiah Nadar Jegadeesan	5000
Vaikundarajan Subramanian	5000
Jegatheesan Muthurajan	5000
Vaikundarajan Velmurugan	5000
Chenthil Rajan Jegadeesan	5000
Karthiyayini Arumuga Selvan	5000
Chandraboopathi Vaikundaratan	5000
Renuka Jegatheesan	5000
Subburajan	5000
Total	50000

BUSINESS DETAILS

Line of Business :

Manufactures and Exports of by-product Ferrous Sulphate.

GENERAL INFORMATION

No. of Employees :	Not Divulged
Bankers :	Not Divulged

Banking Relations :	--
Auditors :	Not available

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

NEW COMPANY

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
12]	Profitability for last three years	No
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	No
24]	Banking facility details	No
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	No
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

AS PER WEBSITE DETAILS:

Company Overview

Subject is a leading producer and exporter of Anatase Grade Titanium Dioxide in India. It produces Titanium Dioxide by the Sulphate route. Subject manufactures and exports the by-product Ferrous Sulphate. Subject manufacturing plant is based at the Sipcot Industrial Complex in Tuticorin in the South Indian State of Tamilnadu. Subject has commenced operations in November 1994.

Subject has a world-wide reputation for Quality. In addition to the prestigious ISO 9001-2008 certification, the company's Titanium Dioxide pigment is certified by the Bureau of Indian Standards as conforming to IS-411 specifications. Subject exports a sizeable quantity of its Titanium Dioxide and Ferrous Sulphate to various countries including Germany, Spain, Malaysia, Thailand, Dubai, USA etc. Subject is committed to provide total Customer Satisfaction by offering enhanced services, establishing long-term working relationships with customers in order to understand and meet their individual needs. Every employee is driven by the need to put the customer first.

A strong Research and Development back-up is one of the core strengths of Subject. Pure and applied research combined with technological innovations help to develop quality products to the highest specification. The product's bio-capability for cosmetic applications is constantly monitored by the Company. Subject plant is Environment-Friendly, having a 100% self-integrated pollution abatement scheme.

At Subject, people work full-time on managing environmental responsibilities to ensure that relevant standards are complied with. As a part of efficient waste management, the Effluent Utilization Plant produces by-products like Ferrous Sulphate. Subject has plans to introduce other value-added products. Subject's most important asset is its motivated and well-rewarded Workforce. The company culture fosters team spirit and encourages initiative together with an awareness of joint accountability.

Subject has made safety a top priority through strict compliance with relevant laws and regulations. The workforce is provided with comprehensive safety training. All these factors combine with professional and innovative Management to make Subject a dynamic, growth-oriented organization well on its way to become an industry leader

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.55.52
UK Pound	1	Rs.88.49
Euro	1	Rs.70.20

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	VRN

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

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