MIRA INFORM REPORT

Report Date :

30.04.2013

IDENTIFICATION DETAILS

Name :	JEWEL CONSUMER CARE PRIVATE LIMITED
Formerly Known As :	AMIGO SECURITIES PRIVATE LIMITED BARODA EXPORTERS AND TRADERS PRIVATE LIMITED
Registered Office :	“SUBHAAG”, B 16, Ramin Park, Old Padra Road, Vadodara – 390 020, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	18.01.1972
Com. Reg. No.:	04-006949
Capital Investment / Paid-up Capital :	Rs.199.301 Millions
CIN No.: [Company Identification No.]	U74920GJ1972PTC006949
PAN No.: [Permanent Account No.]	AAACB8634Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Tooth Brushes, Household Brushes, and Household Plastic Products.
No. of Employees :	445 – Approximately (20 in Office, 420 in Factory, 05 in Branch)

RATING & COMMENTS

MIRA’s Rating :

B (36)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1000000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. There appears sharp in the profitability during the current year. The reserve appears to be insufficient. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with slight cautions.

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities - BBB
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation it carry moderate credit risk.
Date	March, 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 :	“SUBHAAG” , B 15/16, Ramin Park, Old Padra Road, Vadodara – 390 020, Gujarat, India
Tel. No.:	91-265-2356798 / 2354354 / 3957256 / 3957257 / 2322322 /3257256/60
Fax No.:	91-265-2353522 / 2322322/2322322
E-Mail :	cyrus@jewelbrushes.com amit@jewelbrushes.com geeta.goradia@coronetproducts.com info@jewelbrushes.com
Website :	www.jewelbrushes.com
Factory :	Plot No. 209 – 214, Village Luna, Taluka Padra, District Vadodara – 391 440, Gujarat, India
Tel. No.:	91-2662-223801/ 225101 /325426-30
Fax No.:	91-2662-223803/223803
E-Mail :	cyrust@jewelbrushes.com geeta.goradia@coronetproducts.com
Branch Office :	D 1/34 Khiranagar, S V Road, Santacruz (West), Mumbai – 480 054, Maharashtra, India
Tel. No.:	91-22-26616837
E-Mail :	aniruddh@jewelbrushes.com

DIRECTORS

As on 29.09.2012

Name :

Mrs. Geeta Amit Goradia

Designation :

Managing Director

Address :

12 Kesarbaug, Vasna Road, Vadodara – 390 015, Gujarat, India

Date of Birth/Age :

19.09.1953

Qualification :

B. Com (Hons), L.L.B, M.A. (Hons)

Date of Appointment :

01.12.2007

Voter ID No.:

HDG6258024

DIN No.:

00074343

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	U32201GJ1986PTC009066	PIONEER FURNACES PRIVATE LIMITED	Director	01/03/1993	01/03/1993	-	Active	NO
2	U74920GJ1972PTC006949	JEWEL CONSUMER CARE PRIVATE LIMITED	Managing director	01/12/2007	21/07/2001	-	Active	NO
3	U25201GJ1992PTC018587	JEWEL BRUSHES PRIVATE LIMITED	Managing director	23/12/2001	23/12/2001	-	Amalgamated	NO

Name :

Mr. Amit Mohandas Goradia

Designation :

Director

Address :

12 Kesarbaug, Vasna Road, Vadodara – 390 015, Gujarat, India

Date of Birth/Age :

20.05.1950

Qualification :

B.Tech (Mech)

Date of Appointment :

01.12.2007

Voter ID No.:

HDG6258016

DIN No.:

00074478

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	U29230MH1993PTC072018	KUNKEL WAGNER (INDIA) PVT LTD	Director	17/05/1993	17/05/1993	-	Active	NO
2	U25201GJ1992PTC018587	JEWEL BRUSHES PRIVATE LIMITED	Director	07/07/1993	07/07/1993	-	Amalgamated	NO
3	U80301GJ2000NPL039019	TAPOVAN EDUCATION INSTITUTE	Director	06/12/2000	06/12/2000	19/06/2007	Active	NO
4	U25209GJ2001PTC039259	CORONET PRODUCTS PRIVATE LIMITED	Managing director	14/02/2001	14/02/2001	-	Amalgamated	NO
5	U51909GJ2002PTC040879	SUBHAAG TRADING (INDIA) PRIVATE LIMITED	Director	19/06/2002	19/06/2002	-	Active	NO
6	L51909GJ1972PLC044638	PAUSHAK LIMITED	Director	18/08/2005	18/08/2005	-	Active	NO
7	U74920GJ1972PTC006949	JEWEL CONSUMER CARE PRIVATE LIMITED	Director	01/12/2007	16/11/2007	-	Active	NO
8	U92412GJ2009NPL058550	VADODARA MARATHON	Director	12/11/2009	12/11/2009	27/08/2011	Active	NO

Name :

Mr. Jal Ratanshow Patel

Designation :

Whole Time Director

Address :

3, Green Park, Tandalja Road, Vadodara – 390 020 , Gujarat, India

Date of Birth/Age :

17.09.1937

Qualification :

Chartered Accountants Cum Company Secretary

Date of Appointment :

09.04.2008

DIN No.:

00065021

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	U25209GJ2001PTC039259	CORONET PRODUCTS PRIVATE LIMITED	Director	14/02/2001	14/02/2001	-	Amalgamated	NO
2	L23203GJ1980PLC003623	GUJARAT GAS COMPANY LIMITED	Director	01/03/2001	01/03/2001	-	Active	NO
3	L72900GJ1980PLC003643	MIPCO SEAMLESS RINGS GUJARAT LIMITED	Director	26/05/2004	26/05/2004	03/02/2011	Active	NO
4	L29130MH1961PLC012028	ABC BEARINGS LIMITED	Director	26/05/2004	26/05/2004	-	Active	NO
5	L17110GJ1935PLC000494	SHRI DINESH MILLS LIMITED	Director	28/09/2004	28/09/2004	-	Active	NO
6	L25200GJ1973PLC002436	STYROLUTION ABS (INDIA) LIMITED	Director	29/12/2005	29/12/2005	-	Active	NO
7	U31200GJ1992PTC066725	PIONEER ELECMECH (INDIA) PRIVATE LIMITED	Director	06/08/2007	06/08/2007	17/08/2010	Active	NO
8	U74920GJ1972PTC006949	JEWEL CONSUMER CARE PRIVATE LIMITED	Whole-time director	09/04/2008	16/11/2007	-	Active	NO
9	L29199GJ1974PLC002574	EIMCO ELECON (INDIA ) LIMITED	Director	30/07/2009	29/01/2009	25/01/2013	Active	NO
10	L34100GJ1985PLC007958	MUNJAL AUTO INDUSTRIES LIMITED	Director	29/08/2009	30/03/2009	-	Active	NO
11	L29259GJ1960PLC001082	ELECON ENGINEERING COMPANY LIMITED	Director appointed in casual vacancy	12/05/2012	12/05/2012	-	Active	NO

Name :

Dr. Timm Gerhard Preusser

Designation :

Director

Address :

13 Hofstetter St. D – 63839, Kleinwallstadt, Germany

Date of Birth/Age :

05.09.1952

Qualification :

P. Hd (Mechanical Engineer)

Date of Appointment :

16.11.2007

DIN No.:

01172967

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	U25209GJ2001PTC039259	CORONET PRODUCTS PRIVATE LIMITED	Director	14/02/2001	14/02/2001	-	Amalgamated	NO
2	U74920GJ1972PTC006949	JEWEL CONSUMER CARE PRIVATE LIMITED	Director	30/11/2007	16/11/2007	-	Active	NO

Name :

Mr. Suhrud Amit Goradia

Designation :

Whole-time Director

Address :

12 Kesarbaug, Vasna Road, Vadodara – 390 015, Gujarat, India

Date of Appointment :

01.11.2011

DIN No.:

02625798

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	U01403GJ2009PTC056929	JEWEL AGRO PRODUCTS PRIVATE LIMITED	Director	14/05/2009	14/05/2009	-	Active	NO
2	U74920GJ1972PTC006949	JEWEL CONSUMER CARE PRIVATE LIMITED	Whole-time director	01/11/2011	01/11/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Goradia Amit Geeta	12060656
Goradia Amit Subir	1455152
Goradia Amit Suhrud	1455129
Goradia Mohandas Nikhil	20
Goradia Nikhil Manjeri	20
Vyas Apurva Mona	8409
Vyas G. Mahendra	10
Vyas Mahendra Mandakini	10
Jhaveri Vasant Mayank and Sanjay	10
Patodia Gopal Priya	10
Barshikar Ramesh Vasanti	10
Vyas Apurva Yesha and Janki	10
Synpart AG	3086272
Preusser Gerhard Timm	964460
Patel Ratanshaw Jal	193722
Kamdar Chimanlal Aniruddh	140270
Vyas Mahendra Manda	139961
Kamdar Aniruddh Bhavna	52622
Shukla Jayant Nilesh	41500
Moolwaney Sailendra Kiran	20750
Parikh Harshad Parimala	16600
Nair T. Sethumadhavan Pankajam	8300
Patil Bhupendra Mahinkumar	5810
Bariya Ramjlbhai Paresh	5810
Driver Jehanbux Cyrus	4488
Shah Sureshchandra Nimesh	2490
Daruwala Yazdy Naval Yasmin	2490
Sadhu Vishnuprasad Dipakkumar	830
Patel Shantilal Jagdishbhai	830
Varia Ramanlal Jagdishchandra	830
Shah Jekisandas Kaushik	830
Dayatar Kalubhai Kiran	830
Mistry Muljibhai Kishore	830
Bhatt Chitubhai Pramod	830
Bhavsar Bhlkhabhal Sameer	830
Patel Manubhai Sanjay	830
Sharma Krishnakumar Virendra	830
Nair Sekharan T. Sethumadhavan	214
Parikh Maneklal Harshad	191
Parikh Harshad Rahul	8
Goradia Lavanya and Nikhil	128192
Goradla Riddhi and Nikhil	128192
Patel Haribhai Savitaben	20
Patel Shankerbhai Bipinbhai	10
Patel Shankerbhai Prafulbhai	10
Patel Shankerbhai Jaynauayan	10
Saraiya Rakesh Tejal	10
Total	19930148

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

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	20.00
Directors or relatives of Directors	78.00
Other top fifty shareholders	2.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Tooth Brushes, Household Brushes, and Household Plastic Products.

PRODUCTION STATUS

As on 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Plastic Products	MT	2000	90.46	95.24
Tooth Brushes, Domestic Brushes and Paint Brushes	Lakhs	2000	1476.80	1461.54

GENERAL INFORMATION

No. of Employees :

445 – Approximately (20 in Office, 420 in Factory, 05 in Branch)

Bankers :

• Industrial Development Bank of India Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India

· IDBI Bank Limited, R C Dutt Road, Alkapuri , Baroda – 390 007, Gujarat, India

· State Bank of India, Makarpura Industrial Estate Branch, Makarpura, Baroda – 390009, Gujarat, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Rupee term loans from banks	98.322	72.829
Loans repayable on demand from banks	153.672	131.865
Total	251.994	204.694

Banking Relations :	--
Auditors :
Name :	K C Mehta and Company Chartered Accountants
Address :	2^nd Floor, Meghdhanush, Race Cource, Vadodara – 390 007, Gujarat, India
PAN.:	ADGPD1520R

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
29650000	Equity shares	Rs.10/- each	Rs.296.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
19930148	Equity shares	Rs.10/- each	Rs.199.301 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		199.301	199.301	199.301
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		59.215	54.924	43.492
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		258.516	254.225	242.793
LOAN FUNDS
1] Secured Loans		251.994	204.694	250.704
2] Unsecured Loans		116.118	122.254	138.881
TOTAL BORROWING		368.112	326.948	389.585
DEFERRED TAX LIABILITIES		46.166	47.011	41.447
TOTAL		672.794	628.184	673.825
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		595.907	625.796	569.996
Capital work-in-progress		0.000	4.652	10.843
INVESTMENT		0.090	4.510	4.510
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	143.726	142.081	115.824
	Sundry Debtors	121.641	59.250	47.126
	Cash & Bank Balances	5.863	3.319	12.549
	Other Current Assets	0.709	1.520	21.516
	Loans & Advances	84.735	74.135	95.138
Total Current Assets		356.674	280.305	292.153
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	113.419	104.623	147.420
	Other Current Liabilities	152.052	150.759	23.300
	Provisions	14.406	31.697	34.618
Total Current Liabilities		279.877	287.079	205.338
Net Current Assets		76.797	(6.774)	86.815
MISCELLANEOUS EXPENSES		0.000	0.000	1.661
TOTAL		672.794	628.184	673.825

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	NA	861.208	711.875
		Other Income	NA	NA	26.470
		TOTAL (A)	NA	NA	738.345
Less	EXPENSES			NA
		Cost of Raw Material			375.165
		Manufacturing and Other Expenses			78.027
		Purchase of traded goods			0.147
		Employee cost			73.988
		Administration and Other Expenses			30.497
		Selling and Distribution Expenses			27.305
		Prior Period Expenses			1.023
		TOTAL (B)	NA	NA	586.152
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA	NA	152.193
Less	FINANCIAL EXPENSES (D)		NA	NA	43.172
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		93.963	121.561	109.021
Less/ Add	DEPRECIATION/ AMORTISATION (F)		89.331	79.296	64.615
	PROFIT BEFORE TAX (E-F) (G)		4.632	41.939	44.406
Less	TAX (H)		0.342	18.925	9.241
	PROFIT AFTER TAX (G-H) (I)		4.290	23.014	35.165
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		45.132	33.700	15.964
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	0.000	0.000
		Dividend	NA	9.965	14.947
		Tax on Dividend	NA	1.617	2.482
	BALANCE CARRIED TO THE B/S		NA	45.132	33.700
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	NA	370.436	257.889
	TOTAL EARNINGS		NA	370.436	257.889
	IMPORTS
		Raw Materials	NA	98.461	95.494
		Stores & Spares	NA	10.514	8.803
		Capital Goods	NA	86.147	134.533
		Packing Materials	NA	10.818	6.407
		Others	NA	1.660	1.709
	TOTAL IMPORTS		NA	207.600	246.946
	Earnings Per Share (Rs.)		0.22	1.15	1.76

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	4.76
Net Profit Margin (PBT/Sales)	(%)	NA	4.87	6.24
Return on Total Assets (PBT/Total Assets}	(%)	1.30	14.96	15.20
Return on Investment (ROI) (PBT/Networth)		0.02	0.16	0.18
Debt Equity Ratio (Total Debt /Networth)		1.42	1.29	2.45
Current Ratio (Current Asset/Current Liability)		1.27	0.98	1.42

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	Yes
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	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	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]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	Yes

Unsecured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Deferred payment for acquisition of fixed assets	3.084	35.245
Loans and advances from related parties	94.366	74.232
Loans and advances from related parties	18.668	12.777
Total	116.118	122.254

REVIEW OF OPERATIONS and FUTURE PROSPECTS

The year under consideration has been a challenging year for the year. Though, the Company has achieved a moderate topline growth of 5%, the Profit before depreciation and tax has decreased, primarily on account of extreme forex volatility and inflationary pressures on costs. The Company is endeavouring to control its costs, however the Company anticipates an equally challenging year in FY 2012-13.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74920GJ1972PTC006949
Name of the company	JEWEL CONSUMER CARE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	“SUBHAAG” B 16, Ramin Park, Old Padra Road, Baroda-390020, Gujarat, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10103670
Type of charge	Book Debts Movable Property (not being pledge)
CIN, if applicable	U74920GJ1972PTC006949
Particular of charge holder	State Bank of India, Makarpura Industrial Estate Branch, Makarpura, Baroda – 390009, Gujarat, India
Nature of instrument creating charge	Second Supplemental Joint Deed of Hypothecation creating charge on Stock, Book Debts and Movable Plant and Machinery.
Date of instrument Creating the charge	30.10.2012
Amount secured by the charge	Rs.368.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As agreed by and with the Bank from time to time. Terms of Repayment As agreed by and with the Bank from time to time. Margin As agreed and negotiated Extent and Operation of the charge Stocks of RM, WIP, Semi-finished goods, FG, Stores and Spares, Bills Receivable and Book Debts and all other movables plant and machineries both present and future. Others 2ONE
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of the whole of the Current Assets of the Company namely, Stock of Raw Materials, Stock in Process, Semi-Finished and Finished Goods, Stores and Spares not relating to Plant and Machinery (Consumable Stores and Spares), Bills Receivable and Book Debts and all other movable plant and machineries both present and future whether now lying loose or in cases or which are now lying or stored or be in or about or shall hereinafter from time to time during the continuance of the security of these presents be brought into or upon or be stored or be in or about of the Borrower's factories, premises and godowns situated at Baroda, Tal: Padra, Baroda in the State of Gujarat or wherever else the same may be or be held by any party to the order of disposition of the Borrower or in the course of transit or on high seas or on order or delivery, howsoever and wheresoever in the possession of the Borrower and either by way of substitution or addition.
Date of instrument modifying the charge	09.12.2011
Particulars of the present modification	The Consortium constitute by M/s State Bank of India and M/s Standard Chartered Bank have revised limits whereby the joint facilities secured by this charge are now reduced from Rs. 372.400 Millions to Rs. 368.000 Millions (comprising of working capital facilities of Rs. 160.000 Millions and Term Loans of Rs. 208.000 Millions) by way of hypothecation of Stocks, Book Debts and Movable Properties of the Company.

FIXED ASSETS:

• Land
• Buildings
• Plant and Machinery
• Furniture and Fixtures
• Computer
• Vehicles
• Office Equipments

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.54.27
UK Pound	1	Rs.84.23
Euro	1	Rs.70.90

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		36

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.