MIRA INFORM REPORT

Report Date :

28.08.2013

IDENTIFICATION DETAILS

Name :	SOCCER INTERNATIONAL PRIVATE LIMITED (w.e.f. 01.07.1996)
Formerly Known As :	SOCCER INTERNATIONAL LIMITED
Registered Office :	Basti Sheikh Road, Jalandhar – 144001, Punjab
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	24.12.1976
Com. Reg. No.:	16-003710
Capital Investment / Paid-up Capital :	Rs.20.000 Millions
CIN No.: [Company Identification No.]	U51909PB1976PTC003710
TAN No.: [Tax Deduction & Collection Account No.]	JLDS00319E/ JLDS01145E
PAN No.: [Permanent Account No.]	AACCS4603G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Sport goods like foot-balls, volley balls, Shin Guards, Sports Bags, Shoes.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 830000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	BBB- (Long Term Bank Facilities)
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation. It carry moderate credit risk.
Date	February 2013

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 :	Basti Sheikh Road, Jalandhar – 144001, Punjab, India
Tel. No.:	91-181-5095904/ 5011806/ 2254118/ 253184/ 5011806/ 2250416
Fax No.:	91-181-2252398/ 5081331/ 2206932
E-Mail :	soccer@nda.vsnl.net.in advisors.India@hotmail.com info@soccerindia.com
Website :	http://www.soccerindia.com
Area :	110000 Sq. ft.
Location :	Owned
Factory 1 :	Jalandhar Road, Near Model house, Jalandhar – 144002, Punjab, India
Tel. No.:	91-181-2463297
Fax No.:	91-181-2274828
Area :	34000 Sq. Ft.
Location :	Owned
Factory 2 :	394 – P, Leather Complex, Jalandhar – 144002, Punjab, India
Tel. No.:	91-181-5028765
Area :	15000 Sq. ft.
Location :	Owned

DIRECTORS

As on: 29.09.2012

Name :

Mr. Chaman Lal Mahajan

Designation :

Director

Address :

H. No. 139, Mohalla Vijay Nagar, Ward No. 23, Tehsil Jalandhar, India

Date of Birth/Age :

78 Years

Qualification :

Graduate

Date of Appointment :

17.03.1983

DIN No.:

00198855

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	U51909PB1976PTC003710	SOCCER INTERNATIONAL PRIVATE LIMITED	Director	17/03/1983	17/03/1983	-	Active	NO
2	U19111PB1985PTC006150	SOCCER TANNERIES PRIVATE LIMITED	Director	15/05/1989	15/05/1989	-	Strike off	NO

Name :

Mrs. Namita Gupta

Designation :

Director

Address :

Farm House No. 2, Hamilton Estate, Adj. Hamilton Tower, Nakodar Road, Jalandhar, India

Date of Appointment :

08.09.1987

DIN No.:

00198904

Name :

Mr. Vinod Mahajan

Designation :

Director

Address :

H. No. 139, Mohalla Vijay Nagar, Ward No. 23, Tehsil Jalandhar, India

Date of Appointment :

27.02.1994

DIN No.:

00198883

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	U19111PB1985PTC006150	SOCCER TANNERIES PRIVATE LIMITED	Director	22/02/1985	22/02/1985	-	Strike off	NO
2	U51909PB1976PTC003710	SOCCER INTERNATIONAL PRIVATE LIMITED	Director	27/02/1994	27/02/1994	-	Active	NO
3	U74900PB2010PTC033686	CLUB VIVA GYM PRIVATE LIMITED	Director	11/03/2010	11/03/2010	-	Active	NO

Name :

Mr. Vikas Gupta

Designation :

Director

Address :

Farm House No. 2, Hamilton Estate, Adj. Hamilton Tower, Nakodar Road, Jalandhar, India

Date of Appointment :

27.02.1994

DIN No.:

00114237

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	U51909PB1976PTC003710	SOCCER INTERNATIONAL PRIVATE LIMITED	Director	27/02/1994	27/02/1994	-	Active	NO
2	U74900DL1958NPL002893	THE SPORTS GOODS EXPORT PROMOTION COUNCIL.	Director	27/02/1994	27/02/1994	29/09/2012	Active	NO
3	U74900PB2010PTC033686	CLUB VIVA GYM PRIVATE LIMITED	Director	11/03/2010	11/03/2010	-	Active	NO

Name :

Mr. Vishal Gupta

Designation :

Director

Address :

Farm House No. 3, Hamilton Estate, Adj. Hamilton Tower, Nakodar Road, Jalandhar, India

Date of Appointment :

30.09.1994

DIN No.:

00114244

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	U51909PB1976PTC003710	SOCCER INTERNATIONAL PRIVATE LIMITED	Director	30/09/1994	30/09/1994	-	Active	NO
2	U74900PB2010PTC033686	CLUB VIVA GYM PRIVATE LIMITED	Director	11/03/2010	11/03/2010	-	Active	NO

Name :

Mr. Nikhil Mahajan

Designation :

Director

Address :

H. No. 139, Mohalla Vijay Nagar, Ward No. 23, Tehsil Jalandhar, India

Date of Appointment :

01.10.2009

DIN No.:

02817074

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	U51909PB1976PTC003710	SOCCER INTERNATIONAL PRIVATE LIMITED	Whole-time director	01/10/2009	01/10/2009	-	Active	NO
2	U74900PB2010PTC033686	CLUB VIVA GYM PRIVATE LIMITED	Director	11/03/2010	11/03/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Namita Gupta	33333
Vikas Gupta	30942
Vishal Gupta	30942
C.L. Mahajan	20416
Vinod Mahajan	35611
Nikhil Mahajan	11800
Sidharath Mahajan	11800
Sunila Mahajan	20372
Shaalini Gupta	2391
Gargi Gupta	2391
Total	199998

As on: 31.12.2012

Names of Allottees	No. of Shares
Vikas Gupta	16667
Vishal Gupta	16667
Namita Gupta	16667
Nikhil Mahajan	5000
C.L. Mahajan	5000
Sidharath Mahajan	10584
Sunila Mahajan	4628
Vinod Mahajan	24789
Total	100002

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 of Sport goods like foot-balls, volley balls, Shin Guards, Sports Bags, Shoes.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Bank of India, Jalandhar Overseas Branch, Bhagwan Mahavir Marg, Jalandhar - 144001, Punjab, India

· HDFC Bank Limited

· Axis Bank Limited

· IC1CI Bank Limited

· Dhanlaxmi Bank Limited

· Punjab National Bank

· Citi Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
LONG-TERM BORROWINGS
Axis Bank Limited (77L) A/c	9.243	12.400
BO I-Term Loan ( A/c no 3)	1.380	3.047
BOI-Corporate Loan ( A/c no. 5)	0.000	0.836
BOl-Corporate Loan ( A/c no. 6)	13.750	0.000
BOI-Term Loan ( A/c no. 8)	5.404	8.741
HDFC Car Loan	0.027	1.352
ICICL Bank Limited (Car Loan)	0.111	0.481
Dhanlaxmi Bank Limited	0.559	0.000
SHORT-TERM BORROWINGS
Bank of India (Book Debit)	49.818	46.762
Bank of India -EPC)	99.970	109.994
Bank of India -cc Stock	31.673	51.241
Bank of India -FCL	41.040	18.112
Bank of India -FBF	10.175	17.275
Axis Bank Ltd. [T/L) A/c	3.158	2.964
BOI-Term Loan ( A/c no. 3)	1.667	1.781
BOI-Term Loan ( A/c no. 4}	0.000	2.441
BOI-Term Loan { A/c no. 5)	0.836	2.508
BQI-Term Loan ( A/c no. 6)	5.000	0.000
BOI-Term Loan ( A/c no. 8)	3.336	3.347
HDFC Car Loan	3.192	7.216
IC1CI Bank Limited (Car Loan)	0.369	0.338
Dhanlaxmi Bank Limited	0.150	0.000
Total	280.858	290.836

Banking Relations :	--
Auditors :
Name :	Anand and Anand Chartered Accountants
Address :	First Floor, Kahdi Bhandar Building, Opposite Old District Courts, G. T. Road, Jalandhar – 144001, Punjab, India
Tel. No.:	91-181-5001081
Mobile No.:	91-9815969081/ 9888116100
Fax No.:	91-181-4620060
PAN No.:	AABSA6707D

CAPITAL STRUCTURE

After: 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.100/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.100/- each	Rs.30.000 Millions

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.100/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
199998	Equity Shares	Rs.100/- each	Rs.20.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	20.000	10.001
(b) Reserves & Surplus	188.589	170.956
(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)	208.589	180.957
(3) Non-Current Liabilities
(a) long-term borrowings	93.704	91.537
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	93.704	91.537
(4) Current Liabilities
(a) Short term borrowings	250.383	263.979
(b) Trade payables	74.314	74.682
(c) Other current liabilities	31.563	30.886
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	356.260	369.547
TOTAL	658.553	642.041
ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	160.708	134.029
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	6.944
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	3.772	16.778
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	164.480	157.751
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	248.936	291.654
(c) Trade receivables	159.640	120.753
(d) Cash and cash equivalents	17.776	13.826
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	67.721	58.057
Total Current Assets	494.073	484.290
TOTAL	658.553	642.041

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		10.001
2] Share Application Money		0.000
3] Reserves & Surplus		152.536
4] (Accumulated Losses)		0.000
NETWORTH		162.537
LOAN FUNDS
1] Secured Loans		223.481
2] Unsecured Loans		19.267
TOTAL BORROWING		242.748
DEFERRED TAX LIABILITIES		0.000
TOTAL		405.285
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		136.888
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	182.950
	Sundry Debtors	98.070
	Cash & Bank Balances	12.761
	Other Current Assets	32.178
	Loans & Advances	24.009
Total Current Assets		349.968
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	59.263
	Other Current Liabilities	13.949
	Provisions	8.359
Total Current Liabilities		81.571
Net Current Assets		268.397
MISCELLANEOUS EXPENSES		0.000
TOTAL		405.285

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income			923.800
		Other Income			1.400
		TOTAL (A)	986.049	925.299	925.200
Less	EXPENSES
		Cost of Sales			750.700
		Administrative Expenses			64.000
		Selling Expenses			36.400
		TOTAL (B)	959.826 (Including Financial and Depreciation)	897.618 (Including Financial and Depreciation)	851.100
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)				74.100
Less	FINANCIAL EXPENSES (D)				27.200
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)				46.900
Less/ Add	DEPRECIATION/ AMORTISATION (F)				19.300
	PROFIT BEFORE TAX (E-F) (G)		26.223	27.681	27.600
Less	TAX (H)		8.591	9.261	NA
	PROFIT AFTER TAX (G-H) (I)		17.632	18.420	NA
	Earnings Per Share (Rs.)		88.16	NA	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.79	1.99	NA
Net Profit Margin (PBT/Sales)	(%)	NA	NA	2.99
Return on Total Assets (PBT/Total Assets}	(%)	4.00	4.48	5.67
Return on Investment (ROI) (PBT/Networth)		0.13	0.15	0.17
Debt Equity Ratio (Total Debt/Networth)		1.65	1.96	1.49
Current Ratio (Current Asset/Current Liability)		1.39	1.31	4.29

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	Yes
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	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	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10117751	27/12/2012 *	30,021,898.00	AXIS BANK LTD	SCO 30-31, GURU RAM DASS DIVINE TOWER, LADOWALI ROAD, JALANDHAR, PUNJAB - 144401, INDIA	B65756033
2	10114679	15/07/2008	20,000,000.00	BANK OF INDIA	JALANDHAR OVERSEAS BRANCH, BHAGWAN MAHAVIR MARG, JALANDHAR CITY, PUNJAB - 144001, INDIA	A42543611
3	10060221	02/07/2007	10,000,000.00	BANK OF INDIA	JALANDHAR OVERSEAS BRANCH, BHAGWAN MAHAVIR MARG, JALANDHAR, PUNJAB - 144001, INDIA	A19232669
4	90178642	22/07/2013 *	120,000,000.00	BANK OF INDIA	JALANDHAR OVERSEAS BRANCH, BHAGWAN MAHAVIR MARG, JALANDHAR, PUNJAB - 144001, INDIA	B82122946
5	90177868	22/07/2013 *	492,100,000.00	BANK OF INDIA	JALANDHAR OVERSEAS BRANCH, BHAGWAN MAHAVIR MARG, JALANDHAR, PUNJAB - 144001, INDIA	B82123845
6	90177817	10/05/2005 *	70,000,000.00	BANK OF INDIA	JALANDHAR OVERSEAS BRANCH, 89; BHAGWAN MAHAVIR MARG, JALANDHAR, PUNJAB - 144001, INDIA	-
7	90177806	21/12/2011 *	200,000,000.00	BANK OF INDIA	JALANDHAR OVERSEAS BRANCH, BHAGWAN MAHAVIR MARG,  JALANDHAR, PUNJAB - 144001, INDIA	B30422455
8	90176501	22/07/2013 *	492,100,000.00	BANK OF INDIA	JALANDHAR OVERSEAS BRANCH, BHAGWAN MAHAVIR MARG, JALANDHAR, PUNJAB - 144001, INDIA	B82125600

Note: * Date of charge modification

UNSECURED LOAN

(Rs. In Millions)

Particular	As on 31.03.2012	As on 31.03.2011
LONG-TERM BORROWINGS
Deposits From Director
C.L. Mahajan	17.573	14.762
Namita Gupta	0.862	0.708
Vikas Gupta	5.016	6.602
Vinod Mahajan	12.358	16.566
Vishal Gupta	5.125	8.748
Nikhil Mahajan	3.826	3.953
Deposit From Others
C.L. Mahajan {HUF}	1.650	1.110
Vinod Mahajan f HUF)	2.058	1.678
Gargi Gupta	0.175	0.175
P.N. Gupta {HUF]	0.101	0.101
P.N Gupta Charitable Trust	0.100	0.000
P.N Gupta Family Trust	0.100	0.000
Santosh Mahajan	0.436	0.000
Shalini Gupta	0.029	0.029
Sidharth Mahajan	0.911	1.314
Asmita Gupta	0.250	0.250
Sunayana Walia	3.000	1.000
Sunidhi Mahajan	2.315	2.130
Sunila Mahajan	0.437	2.474
Tarini Gupta	0.250	0.250
N.R.S. Investment Private Limited	1.700	0.000
Neeraj Mahajan	1.500	0.000
Usha Mahajan	0.200	0.000
Vandana Mahajan	0.400	0.000
A.K. Rubber and Chemicals	0.470	0.770
Chopra Synthetic Rubber (India}	0.271	0.000
Club Viva	0.020	0.020
Soccer Chemicals	1.489	1.489
Soccer International	0.257	0.200
Soccer Tanneries	0.350	0.351
Total	63.229	64.680

FIXED ASSETS

· Building

· Furniture and Fixture

· Computer

· Fax Machine

· Generator

· Cooler

· Fan

· Electric Goods

· Bladder

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.65.67
UK Pound	1	Rs.102.20
Euro	1	Rs.87.75

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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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