MIRA INFORM REPORT

Report Date :

07.08.2013

IDENTIFICATION DETAILS

Name :	RANGSONS ELECTTRONICS PRIVATE LIMITED
Registered Office :	Plot No. 347, D1 and 2, KIADB Electronic City, Hebbal Industrial Area, Mysore -570016, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	30.06.1993
Com. Reg. No.:	08-14470
Capital Investment / Paid-up Capital :	Rs.13.670 Millions
CIN No.: [Company Identification No.]	U31909KA1993PTC014470
TAN No.: [Tax Deduction & Collection Account No.]	BLRR02027E
PAN No.: [Permanent Account No.]	AAACR8750R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Electronic Products, PCB and Cable Harness, Printed Circuit Assembly.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 880000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are fair. Business is active. Payments terms are usually correct. 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

EXTERNAL AGENCY RATING

Rating Agency Name	FITCH
Rating	Long term rating : BBB-
Rating Explanation	The default risks are currently low. The capacity for payment of financial commitments is considered adequate.
Date	December, 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.

INFORMATION PARTED BY

Name :	Ms. Laxmi
Designation :	Admin Department
Contact No.:	91-821-4280000
Date :	07.08.2013

LOCATIONS

Registered/ Corporate Office/ Factory :	Plot No. 347, D1 and 2, KIADB Electronic City, Hebbal Industrial Area, Mysore-570016, Karnataka, India
Tel. No.:	91-821-2404550/ 554/ 4280000
Fax No.:	91-821-2404529/ 4280060/ 4000369
E-Mail :	phanisha@bgl.vsnl.net.in srinivasrao@reve.com info@revc.com knphanisha@rangsons.com info@rangsons.com suppliers@rangsons.com job@rangsons.com
Website :	http://www.revc.com http://www.rangsons.com
Area :	20000 sq. ft.
Location :	Owned
Business Office:	Parvati Plaza, 1^st Floor, #104/105, Richmond Circle, Bangalore-560025, Karnataka, India
Tel. No.:	91-80-41254701
Fax No.:	91-80-41254704
E-Mail :	srinivasrao@revc.com

DIRECTORS

As on : 29.09.2012

Name :

Mr. Arjun Murthy Ranga

Designation :

Director

Address :

2634, II Main, Gokulam, V V Mohalla, Mysore – 570002, Karnataka, India

Date of Birth/Age :

30.04.1974

Date of Appointment :

31.03.2001

Din No.:

00235226

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	U74993KA1983PTC005435	PROSPERITY MARKETING SERVICES PRIVATE LIMITED	Director	11-05-98	11-05-98	-	Active	NO
2	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	31-03-01	31-03-01	-	Active	NO
3	U32106KA1989PTC010234	VASU COMTECH PRIVATE LIMITED	Managing director	31-08-01	31-08-01	-	Amalgamated	NO
4	U24244KA1982PTC004694	RIPPLE FRAGRANCES PRIVATE LIMITED	Director	27-01-05	27-01-05	-	Active	NO
5	U24249KA2004PTC033618	RIPPLE FRAGRANCES EXPORTS PRIVATE LIMITED	Director	29-09-06	29-09-06	-	Active	NO
6	U52312KA2008PTC046353	ARJATI TRADING PRIVATE LIMITED	Director	07-05-08	07-05-08	-	Active	NO
7	U15143KA1979PTC003541	NATURAL AND ESSENTIAL OILS PRIVATE LIMITED	Director	27-09-10	16-11-09	-	Active	NO
8	U36912KA2011PTC058960	RANGSONS DEFENCE SOLUTIONS PRIVATE LIMITED	Director	03-06-11	03-06-11	-	Active	NO
9	U29100KA2011PTC060197	RANGSONS SCHUSTER TECHNOLOGIES PRIVATE LIMITED	Director	30-08-11	30-08-11	-	Active	NO
10	U15141KA2010PTC052578	NESSO - KDHP NATURAL EXTRACTS PRIVATE LIMITED	Additional director	05-03-12	05-03-12	-	Active	NO
11	U36912KA2012PTC067267	SPIRITUAL PRODUCTS PRIVATE LIMITED	Director	14-12-12	14-12-12	-	Active	NO
12	U36900KA2013PTC068084	TECHNO TOOLS PRECISION ENGINEERING PRIVATE LIMITED	Director	05-03-13	05-03-13	-	Active	NO
13	U31300KA2013PTC068733	RANGSONS INTERCONNECT DEVICES PRIVATE LIMITED	Director	23-04-13	23-04-13	-	Active	NO

Name :

Mr. Pavan Guru Ranga

Designation :

Director

Address :

3005, Gokulam, V.V. Mohalla, Mysore – 570002, Karnataka, India

Date of Birth/Age :

29.09.1975

Date of Appointment :

14.07.2007

Din No.: 

00235202

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	U74993KA1983PTC005435	PROSPERITY MARKETING SERVICES PRIVATE LIMITED	Director	31-01-01	31-01-01	-	Active	NO
2	U32106KA1989PTC010234	VASU COMTECH PRIVATE LIMITED	Director	31-08-01	31-08-01	-	Amalgamated	NO
3	U72200KA2002PTC030526	RANGSONS ELECTRONICS SOLUTIONS PRIVATE LIMITED	Managing director	21-05-02	21-05-02	-	Amalgamated	NO
4	U24244KA1982PTC004694	RIPPLE FRAGRANCES PRIVATE LIMITED	Director	27-01-05	27-01-05	-	Active	NO
5	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	14-07-07	06-07-07	-	Active	NO
6	U52312KA2008PTC046353	ARJATI TRADING PRIVATE LIMITED	Director	07-05-08	07-05-08	-	Active	NO
7	U15143KA1979PTC003541	NATURAL AND ESSENTIAL OILS PRIVATE LIMITED	Director	27-09-10	16-11-09	-	Active	NO
8	U15141KA2010PTC052578	NESSO - KDHP NATURAL EXTRACTS PRIVATE LIMITED	Director	16-08-11	23-04-10	-	Active	NO
9	U24249KA2004PTC033618	RIPPLE FRAGRANCES EXPORTS PRIVATE LIMITED	Additional director	01-04-11	01-04-11	-	Active	NO
10	U36912KA2011PTC058960	RANGSONS DEFENCE SOLUTIONS PRIVATE LIMITED	Director	03-06-11	03-06-11	-	Active	NO
11	U29100KA2011PTC060197	RANGSONS SCHUSTER TECHNOLOGIES PRIVATE LIMITED	Director	30-08-11	30-08-11	-	Active	NO
12	U36912KA2012PTC067267	SPIRITUAL PRODUCTS PRIVATE LIMITED	Director	14-12-12	14-12-12	-	Active	NO
13	U36900KA2013PTC068084	TECHNO TOOLS PRECISION ENGINEERING PRIVATE LIMITED	Director	05-03-13	05-03-13	-	Active	NO
14	U31300KA2013PTC068733	RANGSONS INTERCONNECT DEVICES PRIVATE LIMITED	Director	23-04-13	23-04-13	-	Active	NO

Name :

Mr. Kiran Vasu Ranga

Designation :

Director

Address :

2980, 5^th Main Gokuldham, V.V. Mohalla, Mysore – 570002, Karnataka, India

Date of Birth/Age :

29.03.1977

Date of Appointment :

14.07.2007

Din No.:

00235087

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	U74140KA1999PTC025824	VERTEBRAND MANAGEMENT CONSULTING PRIVATE LIMITED	Director	16-01-04	16-01-04	01-02-08	Active	NO
2	U15143KA1979PTC003541	NATURAL AND ESSENTIAL OILS PRIVATE LIMITED	Director	24-01-08	01-03-04	-	Active	NO
3	U24249KA2004PTC033618	RIPPLE FRAGRANCES EXPORTS PRIVATE LIMITED	Director	24-03-04	24-03-04	-	Active	NO
4	U24244KA1982PTC004694	RIPPLE FRAGRANCES PRIVATE LIMITED	Managing director	27-01-05	27-01-05	-	Active	NO
5	U74993KA1983PTC005435	PROSPERITY MARKETING SERVICES PRIVATE LIMITED	Director	30-09-05	30-09-05	-	Active	NO
6	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	14-07-07	06-07-07	-	Active	NO
7	U52312KA2008PTC046353	ARJATI TRADING PRIVATE LIMITED	Director	07-05-08	07-05-08	-	Active	NO
8	U15141KA2010PTC052578	NESSO - KDHP NATURAL EXTRACTS PRIVATE LIMITED	Director	16-08-11	18-10-10	-	Active	NO
9	U36912KA2011PTC058960	RANGSONS DEFENCE SOLUTIONS PRIVATE LIMITED	Director	03-06-11	03-06-11	-	Active	NO
10	U36912KA2012PTC067267	SPIRITUAL PRODUCTS PRIVATE LIMITED	Director	14-12-12	14-12-12	-	Active	NO
11	U36900KA2013PTC068084	TECHNO TOOLS PRECISION ENGINEERING PRIVATE LIMITED	Director	05-03-13	05-03-13	-	Active	NO
12	U31300KA2013PTC068733	RANGSONS INTERCONNECT DEVICES PRIVATE LIMITED	Director	23-04-13	23-04-13	-	Active	NO

Name :

Mr. Krsihnamurthy Venugopala Tenneti

Designation :

Director

Address :

No.79, Adarsh Vista, Basavanagar, Vibhuthipura, Marathahalli, Bangalore – 560 037, Karnataka, India

Date of Birth/Age :

29.06.1945

Date of Appointment :

08.02.2008

Din No.:

01338477

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	U73100HR1999PTC037386	EMERGENT VENTURES INDIA PRIVATE LIMITED	Director	16-08-99	16-08-99	-	Active	NO
2	U72200MH1998PLC114664	CYGSOFT LIMITED	Director	04-05-00	04-05-00	05-01-08	Active	NO
3	U72900KA2004PTC034656	BINATAR ELECTRONICS PRIVATE LIMITED	Director	09-09-04	09-09-04	-	Active	NO
4	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	08-02-08	02-11-07	-	Active	NO
5	U73100KA1998PTC032501	INDEGENE LIFESYSTEMS PRIVATE LIMITED	Director	29-09-08	22-07-08	-	Active	NO

Name :

Mr. Phanisha Nagappa Kalale

Designation :

Director

Address :

3, Bharadwaja Madhuvana Layout, 20, Block, Srirampura, II Stage, 8th Cross, Mysore - 570023, Karnataka, India

Date of Birth/Age :

14.12.1967

Date of Appointment :

29.09.2012

Din No.:

00062536

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	U32106KA1989PTC010234	VASU COMTECH PRIVATE LIMITED	Director	09-03-98	09-03-98	-	Amalgamated	NO
2	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	29-09-12	20-12-02	-	Active	NO

KEY EXECUTIVES

Name :	Mr. K. Sarina Chouta
Designation :	Company Secretary
Address :	No.5, Devi Krupa Temple Road, Jayalakshmipuram, Mysore – 570012, Karnataka, India
Date of Birth/Age :	31.08.1969
Date of Appointment :	29.09.2012
PAN No.:	ABMPH0063K

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 29.09.2012

Names of Shareholders	No. of Shares
Pavan Guru Ranga	561651
Arjun Murthy Ranga	300151
Anurudh M Ranga	300151
Kiran Vasu Ranga	68349
Vishnu Ranga	68349
Sridhar Rangarao	68349
Total	1367000

Equity Share Break up (Percentage of Total Equity)

AS ON : 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Electronic Products, PCB and Cable Harness, Printed Circuit Assembly.

Products :

Products Description	Item Code No.
Printed Circuits	90181300
Board Assemblies	90189099

Exports :

Products :

Electronic Products

Countries :

· Israel

· UK

Imports :

Products :

Electronic Component

Countries :

· Japan

· China

Terms :

Selling :

L/C, Cash and Credit ( days)

Purchasing :

L/C, Cash and Credit ( days)

PRODUCTION STATUS [AS ON 31.03.2010]

Particulars	Units	Actual Production
Manufacturing Income	Nos.	1874385
Populated PCBs	Nos.	220442

GENERAL INFORMATION

Customers :

End Users and OEM’s

No. of Employees :

500 (Approximately)

Bankers :

· State Bank of Mysore

Mysore Main Branch, Ashoka Road, Mysore – 570001, Karnataka, India

· State Bank of Myso

SIB Division, Bangalore Branch, Bangalore, Karnataka, India

Facilities :

Secured Loan	31.03.2012	31.03.2011
	(Rs in Millions)
Rupee Term Loan from Bank	57.052	54.891
Working Capital Loans from Banks	290.120	242.587
Total	347.172	297.478

Auditors :
Name :	B.S. Ravikumar and Associates Chartered Accountants
Address :	No.73, 2^nd Floor, Sri Madhvesha Complex, Malai Mahadeshwara Road, Nazarbad, Mysore – 570 010, Karnataka, India
PAN No.:	AADFB1008N
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Rangsons Defence Solutions Private Limited, India CIN NO : U3691KA2011PTC058960 · Rangsons Schuster Technologies Private Limited, India CIN NO :U29100KA2011PTC060197 · Ripple Fragrances Private Limited, India CIN NO: U24244KA1982PTC004694

CAPITAL STRUCTURE

AS ON: 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
4750000	Equity Shares	Rs.10/- each	Rs.47.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1367000	Equity Shares	Rs.10/- each	Rs.13.670 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	13.670	13.670
(b) Reserves & Surplus	206.333	179.343
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	220.003	193.013
(3) Non-Current Liabilities
(a) long-term borrowings	100.571	98.410
(b) Deferred tax liabilities (Net)	0.576	(5.624)
(c) Other long term liabilities	7.582	13.143
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	108.729	105.929
(4) Current Liabilities
(a) Short term borrowings	290.120	242.587
(b) Trade payables	261.473	198.311
(c) Other current liabilities	63.332	86.721
(d) Short-term provisions	8.935	9.428
Total Current Liabilities (4)	623.860	537.047
TOTAL	952.592	835.989
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	185.577	177.992
(ii) Intangible Assets	12.861	10.311
(iii) Capital work-in-progress	0.000	8.339
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	9.635	11.426
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	208.073	208.068
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	382.313	324.117
(c) Trade receivables	245.774	229.721
(d) Cash and cash equivalents	51.021	23.495
(e) Short-term loans and advances	62.297	49.060
(f) Other current assets	3.114	1.528
Total Current Assets	744.519	627.921
TOTAL	952.592	835.989

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		12.070
2] Share Application Money		0.000
3] Reserves & Surplus		138.693
4] (Accumulated Losses)		0.000
NETWORTH		150.763
LOAN FUNDS
1] Secured Loans		321.946
2] Unsecured Loans		43.519
TOTAL BORROWING		365.465
DEFERRED TAX LIABILITIES		0.000
TOTAL		516.228
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		159.496
Capital work-in-progress		7.696
INVESTMENT		0.000
DEFERRED TAX ASSETS		7.784
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	280.971
	Sundry Debtors	91.262
	Cash & Bank Balances	17.713
	Other Current Assets	0.000
	Loans & Advances	62.883
Total Current Assets		452.828
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	12.798
	Other Current Liabilities	98.778
	Provisions	0.000
Total Current Liabilities		111.576
Net Current Assets		341.252
MISCELLANEOUS EXPENSES		0.000
TOTAL		516.228

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		TOTAL	1154.700	986.200	612.251
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL			596.189
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		NA	NA	16.062
Less/ Add	DEPRECIATION/ AMORTISATION				30.717
	PROFIT/ LOSS BEFORE TAX				(14.655)
Less	TAX				(7.808)
	PROFIT/ LOSS AFTER TAX				(6.847)
	Earnings Per Share (Rs.)		NA	NA	(5.67)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.00	0.00	(1.12)
Return on Total Assets (PBT/Total Assets}	(%)	0.00	0.00	(2.39)
Return on Investment (ROI) (PBT/Networth)		0.00	NA	(0.10)
Debt Equity Ratio (Total Debt /Networth)		1.78	1.77	2.42
Current Ratio (Current Asset/Current Liability)		1.21	1.19	4.06

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last one 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	Yes
20]	Export / Import details (if applicable)	Yes
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	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS:

Rs. in Millions

Particulars	31.03.2012	31.03.2011
Deposits from Directors	25.887	25.887
Deposits from Shareholders	12.763	12.763
Deposits from Others	4.869	4.869
Total	43.519	43.519

FINANCIAL PERFORMANCE:

During the financial year 2011-12 the company has achieved a moderate growth in the revenue and has recorded a turnover of Rs. 1154.700 Millions as against the previous year’s revenue of Rs. 986.200 Millions.

INDEX OF CHARGE:

Sr .No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1.	90200660	04/01/2005 *	76,000,000.00	STATE BANK OF MYSORE	Ashoka Road, Main Branch, Mysore, Karnataka - 570 001, India	--
2.	90198041	07/12/2012 *	2,033,800,000.00	STATE BANK OF MYSORE	Mysore Main Branch, Ashoka Road, Msyore - 570001, Karnataka, India	B63628622
3.	90196698	21/02/1994	2,896,000.00	STATE BANK OF MYSORE	Mysore Main Branch, no. 7; Ashoka Road, Mysore - 570001, Karnataka - India	--
4.	90196666	14/09/1993	1,550,000.00	STATE BANK OF MYSORE	Mysore Main Branch, P.B. NO. 7; Ashoka Road, Mysore, Karnataka - 570001, India	--

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixtures

· Electrical Installation

· Software

· Office Equipments

· Computers and Software

· Tools and Equipments

· Generator

· Borewell

· Vehicles

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.61.54
UK Pound	1	Rs.94.37
Euro	1	Rs.81.58

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	NIT

CORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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

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