MIRA INFORM REPORT

Report Date :

05.04.2013

IDENTIFICATION DETAILS

Name :	INDO-US MIM TEC PRIVATE LIMITED (w.e.f 21.08.2001)
Formerly Known As :	A F TECHNOLOGIES INDIA PRIVATE LIMITED
Registered Office :	Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	12.04.1996
Com. Reg. No.:	01-023794
Capital Investment / Paid-up Capital :	Rs.119.973 Millions
CIN No.: [Company Identification No.]	U28110AP1996PTC023794
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of Metal Injection Moulding.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 4683296
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having a fine track record. General financial position is good. Trade relations are reported as decent. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good 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

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	CRISIL
Rating	A (Long Term Rating)
Rating Explanation	Adequate degree of safety and low credit risk.
Date	13.09.2012

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 :	Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	santosh.d@indo-mim.com bal.s@indo-mim.com
Website :	www.indo-mim.com
Factory 1/ Headquarters :	No 45,(P) KIADB Industrial Area, Hoskote, Bangalore 562 114, Karnataka, India
Tel. No.:	91-80-22048800/27971418/27971416
Fax No.:	91-80-27971624
E-Mail :	infohq@indo-mim.com
Factory 2 :	#45[P], KIADB Industrial Area, Doddaballapur, Bangalore 561 203, Karnataka, India
Tel. No.:	91-80-7630533/ 7630532
Fax No.:	91-80-27630532
E-Mail :	Infohq@indo-mim.com
International Office :	Located at: USA Europe

DIRECTORS

As on 30.09.2012

Name :

Mr. Krishna Chivukula

Designation :

Chairman

Address :

35, 1^st main 3^rd Cross RMV Extension, Bangalore – 560091, Karnataka, India

Date of Birth/Age :

27.01.1947

Date of Appointment :

12.04.1996

DIN No.:

01625119

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	U72200AP1994PTC018938	SHIVA CHEM TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	9/01/1995	9/01/1995	-	Active	YES
2	U24230AP1994PLC018752	SHIVA ANALYTICALS (INDIA) LIMITED	Director	1/08/1995	1/08/1995	-	Active	NO
3	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	12/04/1996	12/04/1996	-	Active	NO
4	U45201AP1998PTC030483	GOWRI VENTURES PRIVATE LIMITED	Director	11/11/1998	11/11/1998	-	Active	NO
5	U67190KA2010PTC054105	JAGADA C INVESTMENTS PRIVATE LIMITED	Director	17/06/2010	17/06/2010	-	Active	NO
6	U67190KA2010PTC054104	CHIVUKULA INVESTMENTS PRIVATE LIMITED	Director	17/06/2010	17/06/2010	-	Active	NO

Name :

Ms. Chivukula Lalithadevi

Designation :

Director

Address :

213-539 A, No.7, Lane – 2, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India

Date of Birth/Age :

01.07.1924

Date of Appointment :

12.04.1996

DIN No.:

02368453

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	U24230AP1994PLC018752	SHIVA ANALYTICALS (INDIA) LIMITED	Director	15/11/1994	15/11/1994	-	Active	NO
2	U72200AP1994PTC018938	SHIVA CHEM TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	12/12/1994	12/12/1994	-	Active	YES
3	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	12/04/1996	12/04/1996	-	Active	NO
4	U45201AP1998PTC030483	GOWRI VENTURES PRIVATE LIMITED	Director	11/11/1998	11/11/1998	-	Active	NO

Name :

Mr. Krishna Chivukula Jr

Designation :

Director

Address :

1 Derby LN SE, Washinton DC USA 20032222

Date of Birth/Age :

31.03.1972

Date of Appointment :

30.09.2004

DIN No.:

02483835

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	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	30/09/2004	30/09/2004	-	Active	NO
2	U45201AP1998PTC030483	GOWRI VENTURES PRIVATE LIMITED	Director	30/09/2010	2/11/2009	-	Active	NO
3	U24230AP1994PLC018752	SHIVA ANALYTICALS (INDIA) LIMITED	Director	30/09/2010	2/11/2009	-	Active	NO

Name :

Mr. Raj Roger Chivukula

Designation :

Director

Address :

381 Lodgewood Lane, Lafayette Co USA - 80026

Date of Birth/Age :

01.07.1974

Date of Appointment :

30.09.2004

DIN No.:

02484081

Name :

Mr. Chandrasekhar Jagadamba

Designation :

Director

Address :

8026, Summerview Jfayet Ville New York, USA - 13066

Date of Birth/Age :

12.09.1949

Date of Appointment :

30.09.2004

DIN No.:

01711450

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	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	30/09/2004	30/09/2004	-	Active	NO
2	U67190KA2010PTC054105	JAGADA C INVESTMENTS PRIVATE LIMITED	Director	17/06/2010	17/06/2010	-	Active	NO
3	U67190KA2010PTC054104	CHIVUKULA INVESTMENTS PRIVATE LIMITED	Director	17/06/2010	17/06/2010	-	Active	NO

Name :

Mr. Parasuraman Balasubramanina

Designation :

Director

Address :

3DC 217, HRBR 3^rd Block Kalyan Nagar, Bangalore – 560043, Karnataka, India

Date of Birth/Age :

14.05.1963

Date of Appointment :

30.09.2010

DIN No.:

02829480

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	U45201AP1998PTC030483	GOWRI VENTURES PRIVATE LIMITED	Director	30/09/2010	2/11/2009	-	Active	NO
2	U24230AP1994PLC018752	SHIVA ANALYTICALS (INDIA) LIMITED	Director	30/09/2010	2/11/2009	-	Active	NO
3	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	30/09/2010	6/03/2010	-	Active	NO
4	U29253KA2011PTC060016	MINCO MALVERN PROCESS EQUIPMENT PRIVATE LIMITED	Director	17/08/2011	17/08/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2012

Names of Shareholders	No. of Shares
Krishna Chivukula	280,906
Lalitha Sastry Chivukula	100
Green Meadows Investments L	10,893,656
Anuradha Koduri, USA	136,475
Mr. Ajeet Khare	60,000
Mr. P. Balasubramanian	60,000
Mr. Jagadish Holla	50,000
Mr. M. Vijaya Kumar	50,000
Dr. T.S. Shivashankar	50,000
Mr. D. Raja Reddy	10,000
Mr. S. Srinivasulu	32,000
Mr. R. Sai Krishna Rayalu	32,000
Mr. Ravi Bapatla	32,000
Mr. G. Umamahesh Varma	32,000
Mr. M. Giriyappa	30,000
Mr. N.V. Ramana Reddy	15,000
Mr. G.B. Parameshwarappa	15,000
Mr. A. Venkata Ramu	10,500
Mr. N.M. Gopi	5,000
^Mr. G. Natarajan	3,500
Mr. Gopalakrishna V. Jahaqirda	^1,500
Mr. M. Shankar	5,000
Mrs. Vinitha Sidharthan	890
Ms. Renny Pereira	550
Mr. H.C. Parashurama	780
Mr. N. Bhaskar Reddy	250
Mr. S. Abdul Rahim	380
Mr. K. Ramprasad	380
Mr. R. Premanand	1,080
Dr. K. Krishna Rao	40,000
Mr.T.K.Chattopadyay	50,000
Mr.Suresh	5,000
Mr.M.S.Krishna	2,000
Mr.Manoj Kabre	20000
B.Ravi Kumar	2,000
Phanindra Babu	5,000
N.Sreekanth	500
J.Sreenivasulu	500
Balaii Singh	500
K.Manjunath	500
Vaiiinath	500
J.V.Ratnakara Rao	500
S.Srinivas	500
Lakshminarayana S	560
Chidananda KM	220
Saravanan M	130
Ramana Gowda	220
Kotresh N	100
Raghavendra S	250
Soma Krishna Anand HR	330
Bindumadhav H	380
Venkatesh S	390
Ravi Kumar B	350
Ashok Kumar	350
Jamal Kumar G	330
Malgave Sachin Shrikant	250
Atish TG	280
Venugopal N	190
Srihari Prasad R	180
Chandiran M	310
Seenappa A	230
Hilson Samuel	530
^Raghunand MA	230
Pradip Panalal Shah	10,000
Gaurav Swarup	10,000
John Anthony Dexheimer	35,000
Total	11,997,257

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2012

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	91.00
Directors or relatives of Directors	4.00
Other top fifty shareholders	5.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Supplier of Metal Injection Moulding

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• ING Vysya Bank Limited, 22, Ground Floor, ING Vysya House, M.G Road, Bangalore – 560001, Karnataka, India
• Standard Chatered Bank, Raheja Towers, 26-27, MG Road, Bangalore – 560001, Karnataka, India

• State Bank of India, Overseas Finance Branch, St Marks Road, Bangalore, Karnataka, India
• IDBI Bank, IDBI Tower WTC Complex, Cuffe Parade, Mumbai 400005, Maharashtra, India
• Bank of Baroda, Palace Orchards Branch, Bangalore, Karnataka, India
• Axis Bank, M.G Raod, Bangalore, Karnataka, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Term Loans	1094.561	630.455
Working capital loans banks secured	423.138	286.797
Total	1517.699	917.252

Banking Relations :	--
Auditors :
Name :	P Murali and Company Chartered Accountant
Address :	361, 1^st Floor, 13^th Main, RMV Extension, Bangalore - 560 080, Karnataka, India
Tel No.:	91-80-23613743
Fax No.:	9180-2366209
PAN.:	AADFP2033K
Associate/ Group Companies :	Shiva Analyticals India Limited Gowri Ventures Private Limited

CAPITAL STRUCTURE

As on 30.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs. 10/- each	Rs. 200.000 Millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
11997257	Equity Shares	Rs.10/- each	Rs.119.973 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		119.972	119.973	119.423
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1050.852	871.388	481.297
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1170.824	991.361	600.720
LOAN FUNDS
1] Secured Loans		1517.700	917.252	379.774
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		1517.700	917.252	379.774
DEFERRED TAX LIABILITIES		126.505	92.348	78.435
TOTAL		2815.029	2000.961	1058.929
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1790.377	1291.454	769.332
Capital work-in-progress		0.000	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	254.149	153.770	120.214
	Sundry Debtors	433.466	466.444	310.127
	Cash & Bank Balances	118.337	131.573	37.626
	Other Current Assets	95.000	140.000	0.000
	Loans & Advances	670.938	475.823	272.588
Total Current Assets		1571.890	1367.610	740.555
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	278.445	364.399	131.806
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	268.793	293.704	319.152
Total Current Liabilities		547.238	658.103	450.958
Net Current Assets		1024.652	709.507	289.597
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2815.029	2000.961	1058.929

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	3032.126	2448.754	1464.556
		Other Income			1.897
		TOTAL (A)	3032.126	2448.754	1466.453
Less	EXPENSES
		Raw materials, consumables and others			365.501
		Personnel			189.479
		Excise duty			8.478
		Manufacturing and asset maintenance	2244.063	1639.811	81.044
		Administrative expenses			33.677
		Selling and distribution expenses			263.822
		(Increase)/Decrease in finished goods and WIP			(6.872)
		TOTAL (B)	2244.063	1639.811	935.129
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		788.063	808.943	531.324
Less	FINANCIAL EXPENSES (D)		187.998	88.842	55.468
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		600.065	720.101	475.856
Less/ Add	DEPRECIATION/ AMORTISATION (F)		172.471	123.974	80.116
	PROFIT BEFORE TAX (E-F) (G)		427.594	596.127	395.740
Less	TAX (I)		136.582	206.476	143.816
	PROFIT AFTER TAX (G-I) (J)		291.012	389.651	251.924
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		753.235	475.839	335.321
Less	APPROPRIATIONS
		Proposed Dividend	111.549	55.774	95.538
		Transfer to General Reserve	29.064	110.660	NA
		Corporate Dividend Tax Thereon	NA	NA	15.868
		Disposable Surplus	1015.183	809.009	NA
	Earnings Per Share (Rs.)		24.23	32.50	20.63

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	9.59	15.91	17.18
Net Profit Margin (PBT/Sales)	(%)	NA	NA	27.02
Return on Total Assets (PBT/Total Assets}	(%)	12.71	22.42	53.44
Return on Investment (ROI) (PBT/Networth)		0.36	0.60	0.66
Debt Equity Ratio (Total Debt/Networth)		1.29	0.92	1.38
Current Ratio (Current Asset/Current Liability)		2.87	2.07	1.64

LOCAL AGENCY FURTHER INFORMATION

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

CAPITAL STRUCTURE

The Company has not issued nor bought back any shares. The Authorised and Paid up share capital of the Company remains same as reported last year. Authorized Capital as on date of Balance Sheet remain Rs.200.000 millions consisting of 2,00,00,000 equity shares of Rs. 10/- each and Issued, Subscribed and paid up share capital of the company remain Rs 119.972 millions consisting of 1,19,97,257 equity shares of Rs. 10/- each.

OPERATIONS AND OUTLOOK

This year was a year of slow down globally with India GDP at a downside range of 6.5%. Global slowdown, recession, political uncertainties, inflation, liquidity crunch, depreciating rupee etc affected negatively to industries both domestic as well as cross border level. But because of their proactive mindset, good forward thinking and economy of scale, they managed to come out of the adversities and in spite of all such negative news, the company was able to sustain at its top line and achieved a stronger sales than last year.

The Gross sales and other income for the financial year under review were Rs 3030 millions as against Rs 2450 millions for the previous year, registering an impressive jump of nearly Rs.580 millions (24% ) Jump in the turnover. However Profit before tax reduced from Rs. 600 millions in 2010-11 to Rs. 430 millions in 2011-12, registering a negative growth of 28% Year on Year. The Major reasons for this were the change in Composition of the segmental revenue which consisted more of Auto Segment. Further increased Manpower Cost and Interest Cost were the other prime reasons for this drop in Profit.

For the ensuing year, they expect the growth trend will continue at a much faster speed than was during FY 2012 and the Company will trigger a new top as well as bottom line target.

FORM 8

Corporate identity number of the company	U28110AP1996PTC023794
Name of the company	INDO-US MIM TEC PRIVATE LIMITED (w.e.f 21.08.2001)
Address of the registered office or of the principal place of business in India of the company	Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India
This form is for	Modification of charge
Type of charge	Immovable property
Particular of charge holder	IDBI Bank, IDBI Tower WTC Complex, Cuffe Parade, Mumbai 400005, Maharashtra, India Email: ck.rukmani@idbi.co.in
Nature of instrument creating charge	No instrument was executed. A mortgage by deposit of title deeds was created by the company in favour of IDBI Bank Limited by depositing the title deeds by way of constructive delivery with IDBI.
Date of instrument Creating the charge	21.11.2012
Amount secured by the charge	Rs. 180.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest IDBI Bank's Base Rate plus 325 bps or such other rates as IDBI Bank may stipulate from time to time. Terms of repayment Repayable in quarterly instalments commencing from April 1, 2013 or such other dates as IDBI Bank may stipulate from time to time. Margin 20.59% of the total project cost as per the sanction letter dated July 14, 2012 issued to the company by IDBI Bank. Extent and operation of the charge Pari passu first charge on Chokkahalli immovable property and Doddaballapura Immovable property belonging to the Company during the currency of the Rupee Term Loan Limit of Rs.180 millions more particularly described in the schedule forming part of the Declaration and Undertaking dated November 21, 2012.
Short particulars of the property charged (Including location of the property)	Pari passu first charge on (i) land bearing Plot No.45 (P), comprising of Survey No.81, admeasuring 12,075.50 sq. mtrs or thereabouts, situated within the Village limits of Chokkahalli, Kasba Hobli, Hoskote Taluk, Bangalore District in the State of Karnataka and (ii) land bearing Plot No(s). 43, 44, 45 (part), in Survey No(s).88 and 89, admeasuring in aggregate 63,594 sq.mtrs. or thereabouts, siutated in the Doddaballapura Industrial Area, situated within the Village limits of Veerapura, Kasaba Hobli, Doddaballapura Taluk, Bangalore District, in the State of Karnataka.
Particulars of the present modification	IDBI's assistance of Rs.180 millions originally secured by pari-passu 2nd charge on borrowers' entire current assets is now additionally secured by pari passu 1st charge by way of mortgage by deposit of title deeds of immovable properties by way of constructive delivery viz. Plot No.45(P) comprising of S/N. 81 at Chokkahalli Village and Plot Nos.43,44,45 (part) in S/N.88 and 89 at Doddaballapura Industrial Area both in the State of Karnataka.

FIXED ASSETS:

• Land and development
• Buildings
• Plant and machinery
• Furniture and fixtures
• Office equipment
• Vehicles
• Computers and software
• Electrical installation

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 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.54.64
UK Pound	1	Rs.82.41
Euro	1	Rs.70.0896s000 millions

INFORMATION DETAILS

Report Prepared by :

PRL

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
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	6
--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		54

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.