1. Summary Information

		Country	India
Company Name	UB INTERNATIONAL TRADING LIMITED	Principal Name 1	Mr. Ranganathan Sivanandam
Status	Moderate	Principal Name 2	Mr. Shashikanth Venkatesh
		Registration #	08-029428
Street Address	UB Tower, Level 12, UB City, 24, Vittal Mallya Road, Bangalore-560001, Karnataka
Established Date	21.08.2001	SIC Code	--
Telephone#	91-80-22111600	Business Style 1	Manufacturer
Fax #	91-80-22111616	Business Style 2	--
Homepage	Not Available	Product Name 1	Leather Shoes
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 500,000/-	Product Name 3	--
Shareholders	Bodies corporate 100.00%	Banking	ICICI Bank
Public Limited Corp.	No	Business Period	12 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ca (12)
Related Company
Relation	Country	Company Name	CEO
Holding Company	--	United Breweries (Holding) Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	42,278,000	Current Liabilities	114,063,000
Inventories	91,919,000	Long-term Liabilities	42,700,000
Fixed Assets	22,165,000	Other Liabilities	7,446,000
Deferred Assets	000	Total Liabilities	164,209,000
Invest& other Assets	000	Retained Earnings	(8,347,000)
		Net Worth	(7,847,000)
Total Assets	156,362,000	Total Liab. & Equity	156,362,000
Total Assets (Previous Year)	110,016,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales/ Total Income	356,571,000	Net Profit	(1,093,000)
Sales(Previous yr)/ Total Income	255,500,000	Net Profit(Prev.yr)	2,974,000

MIRA INFORM REPORT

Report Date :

30.08.2013

IDENTIFICATION DETAILS

Name :	UB INTERNATIONAL TRADING LIMITED
Registered Office :	UB Tower, Level 12, UB City, 24, Vittal Mallya Road, Bangalore-560001, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	21.08.2001
Com. Reg. No.:	08-029428
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U19202KA2001PLC029428
TAN No.: [Tax Deduction & Collection Account No.]	BLRU00854A
PAN No.: [Permanent Account No.]	AAACU5060H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Leather Shoes.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a subsidiary of “United Breweries (Holdings) Limited.” It is an established company having a moderate track record. There appear huge accumulated losses recorded by the company. The external borrowing seems to be huge. Liquidity position appears to be weak. However, business is active. Payments are reported to be slow. The company can be considered for business dealings on a safe and secured trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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.

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 :	UB Tower, Level 12, UB City, 24, Vittal Mallya Road, Bangalore-560001, Karnataka, India
Tel. No.:	91-80-22111600
Fax No.:	91-80-22111616
E-Mail :	kmajumder@ubmail.com vparam@ubmail.com
Factory :	254/1 Mel Kandramapalli Road, Tuthipet, Ambur, Chennai-635811, Tamilnadu, India
Tel. No.:	91-4174-241177

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Ranganathan Sivanandam

Designation :

Director

Address :

528/B, 43, Jai Hanuman Nagar, Arakere, Bangalore-560076, Karnataka, India

Date of Birth/Age :

15.04.1968

Date of Appointment :

27.09.2010

DIN No.:

02875426

Name :

Mr. Shashikanth Venkatesh

Designation :

Director

Address :

694, 10^th A Main Road, 4^th Block, Jaya Nagar, Bangalore-560011, Karnataka, India

Date of Birth/Age :

06.01.1961

Qualification :

BE, PGDIT

Date of Appointment :

12.04.2005

DIN No.:

00240230

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	U02212KA2002PTC030435	CINEBLITZ PRODUCTIONS PRIVATE LIMITED	Director	11/07/2003	11/07/2003	-	Active	NO
2	U85110KA1988PLC009582	UNITED RACING AND BLOODSTOCK BREEDERS LIMITED.	Director	19/01/2004	19/01/2004	-	Active	NO
3	U67120MH1984PTC034852	VJM MEDIA PRIVATE LIMITED	Director	20/10/2004	20/10/2004	18/12/2008	Active	NO
4	U19202KA2001PLC029428	UB INTERNATIONAL TRADING LIMITED	Director	12/04/2005	12/04/2005	-	Active	NO
5	U74930KA2006PLC039816	CITY PROPERTIES MAINTENANCE COMPANY BANGALORE LIMITED	Director	26/06/2006	26/06/2006	-	Active	NO
6	U19201KA2008PTC046875	MODA SUOLE (INDIA) PRIVATE LIMITED	Director	23/06/2008	23/06/2008	-	Active	NO
7	U70109KA2011PLC060546	UB REALTY LIMITED	Director	22/09/2011	22/09/2011	-	Active	NO
8	U55100KA2011PTC060407	BUNS HOSPITALITY PRIVATE LIMITED	Additional director	14/06/2012	14/06/2012	-	Active	NO

Name :

Mr. Babugowda Sanganagowda Patil

Designation :

Director

Address :

149 5^th Cross 10^th Main Rajamahal Vilas Entension, Bangalore-560080, Karnataka, India

Date of Birth/Age :

20.01.1944

Qualification :

IAS Retired

Date of Appointment :

28.03.2006

DIN No.:

00061959

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	L21014KA1980PLC003842	SHETRON LIMITED	Director	27/09/2002	27/09/2002	-	Active	NO
2	L15421PN1939PLC006738	THE UGAR SUGAR WORKS LTD	Director	28/03/2005	28/03/2005	19/03/2010	Active	NO
3	U15421KA2002PLC029968	SADASHIVA SUGARS LIMITED	Director	09/12/2005	09/12/2005	18/08/2011	Active	NO
4	U74140KA2004PTC034016	SANYO BPL PRIVATE LIMITED	Director	15/12/2005	15/12/2005	01/01/2009	Under liquidation	NO
5	L85110KA1915PLC000740	UNITED BREWERIES (HOLDINGS) LIMITED	Director	22/03/2006	22/03/2006	01/06/2013	Active	NO
6	U01100MH1988PLC049515	GROVER VINEYARDS LTD	Director	30/09/2006	23/03/2006	01/09/2011	Active	NO
7	U19202KA2001PLC029428	UB INTERNATIONAL TRADING LIMITED	Director	28/03/2006	28/03/2006	01/06/2013	Active	NO
8	L29199KA1985PLC006934	SUPRAJIT ENGINEERING LIMITED	Director	19/06/2006	19/06/2006	-	Active	NO
9	L24123KA1966PLC002036	MANGALORE CHEMICALS AND FERTILISERS LIMITED	Director	27/11/2006	27/11/2006	01/06/2013	Active	NO
10	U18101KA2002PLC030185	SCOTTS GARMENTS LIMITED	Director	04/07/2007	04/07/2007	-	Active	NO
11	U45201AP2001PLC036617	AMR INDIA LIMITED	Director	24/09/2008	03/06/2008	-	Active	NO
12	L27104TN1991PLC020533	SURANA INDUSTRIES LIMITED	Director	10/06/2010	30/10/2009	-	Active	NO
13	U40104MH2007PTC175502	ODETTA REALTY PRIVATE LIMITED	Additional director	28/07/2010	28/07/2010	20/09/2010	Active	NO
14	U27300KA2011PTC058145	B R S PRECISION MANUFACTURING PRIVATE LIMITED	Director	13/04/2011	13/04/2011	-	Active	NO
15	U40109TN2010PLC074770	SURANA GREEN POWER LIMITED	Director	30/06/2012	06/02/2012	-	Active	NO
16	U40300TN2012PLC085008	SURANA GREEN ENERGY LIMITED	Director	19/03/2012	19/03/2012	-	Active	NO
17	U74899DL1995PTC070164	WEIR INDIA PRIVATE LIMITED	Director	22/09/2012	28/03/2012	-	Active	NO
18	U85110KA1992PLC013759	INTERNATIONAL POWER CORPORATION LIMITED	Additional director	26/11/2012	26/11/2012	-	Active	NO
19	U40108KA1997PLC022700	TRINETHRA ENERGY CONVERTIONS LIMITED	Additional director	26/11/2012	26/11/2012	-	Active	NO
20	U85110KA1998PLC024498	PRASANNA POWER LIMITED	Additional director	26/11/2012	26/11/2012	-	Active	NO

Name :

Mr. Kaushik Majumder

Designation :

Director

Address :

Flat No. B – 401, Adarsh Vihar, 5/1, Bannerghatta Main Road, Bangalore – 560 029, Karnataka, India

Date of Birth/Age :

21.01.1963

Qualification :

Graduate

Date of Appointment :

28.09.2011

DIN No.:

01990692

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	Company/ LLP Status	Defaulting status
1	U92419KA2001PLC028591	INDIAN PREMIER FOOTBALL ASSOCIATION LIMITED	Director	22/09/2008	01/12/2007	Active	NO
2	U80103KA2006PLC041079	KINGFISHER AVIATION TRAINING LIMITED	Director	22/09/2008	31/01/2008	Active	NO
3	U67120KA1998PTC024377	GOLD REEF INVESTMENTS PRIVATE LIMITED	Director	22/09/2008	31/01/2008	Active	NO
4	U51900KA1999PLC048529	KINGFISHER FINVEST INDIA LIMITED	Director	08/09/2008	02/02/2008	Active	NO
5	U85110KA1991PLC011845	UB INFRASTRUCTURE PROJECTS LIMITED	Director	29/09/2009	05/06/2009	Active	NO
6	U24239KA2007PTC043060	BIOSYNERGIES INDIA PRIVATE LIMITED	Director	30/09/2010	08/06/2009	Active	NO
7	U92190KA2010PLC052175	UB SPORTS LIMITED	Director	11/07/2011	28/04/2010	Active	NO
8	U74140KA2010PTC053806	BESTRIDE CONSULTANCY PRIVATE LIMITED	Director	30/09/2011	20/06/2011	Active	NO
9	U19202KA2001PLC029428	UB INTERNATIONAL TRADING LIMITED	Director	28/09/2011	18/07/2011	Active	NO
10	U70109KA2011PLC060546	UB REALTY LIMITED	Director	22/09/2011	22/09/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
United Breweries (Holding) Limited, India and Deeepak Anerd	10000
United Breweries (Holding) Limited, India and V Shashikanth	10000
United Breweries (Holding) Limited, India and S R Gopalan	10000
United Breweries (Holding) Limited, India and V Parameshwaran	10000
United Breweries (Holding) Limited, India and A Z Sharieff	10000
United Breweries (Holding) Limited, India and Kaushik Majumder	1
United Breweries (Holding) Limited, India and K C Sudarshan	1
TOTAL	50002

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Leather Shoes.

Products :

ITC CODE	PRODUCT DESCRIPTIONS
640320	Leathers Shoes

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Finished Shoes	Pairs	NA	480000	295732

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

ICICI Bank

Facilities :

Unsecured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Long Term Borrowings
Working capital loans banks unsecured	0.000	2.828
Working capital loans others unsecured	42.700	38.000
TOTAL	42.700	40.828

Banking Relations :	--
Auditors :
Name :	N. Nityananda and Company Chartered Accountants
Address :	#76, 1^st Floor, Rangarao Road, Shankarapuram, Bangalore-560004, Karnataka, India
Tel. No.:	91-80-26615056 / 26606603 / 26614906
Fax No.:	91-80-26615056
E-Mail :	nityaco@vsnl.com
PAN No:	AAHPN2292E
Holding Company :	United Breweries (Holding) Limited CIN No.: L85110KA1915PLC000740

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50002	Equity Shares	Rs.10/- each	Rs.0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500
(b) Reserves & Surplus	(8.347)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	(7.847)
(3) Non-Current Liabilities
(a) long-term borrowings	42.700
(b) Deferred tax liabilities (Net)	4.402
(c) Other long term liabilities	12.736
(d) long-term provisions	0.875
Total Non-current Liabilities (3)	60.713
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.000
(c) Other current liabilities	101.327
(d) Short-term provisions	2.169
Total Current Liabilities (4)	103.496
TOTAL	156.362
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	22.165
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	3.420
(e) Other Non-current assets	0.000
Total Non-Current Assets	25.585
(2) Current assets
(a) Current investments	0.000
(b) Inventories	91.919
(c) Trade receivables	0.481
(d) Cash and cash equivalents	4.607
(e) Short-term loans and advances	21.933
(f) Other current assets	11.837
Total Current Assets	130.777
TOTAL	156.362

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.500	0.500
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		(7.253)	(10.227)
NETWORTH		(6.753)	(9.727)
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		40.828	0.000
TOTAL BORROWING		40.828	0.000
DEFERRED TAX LIABILITIES		4.266	4.040
TOTAL		38.341	(5.687)
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		22.089	15.202
Capital work-in-progress		1.853	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	65.193	34.749
	Sundry Debtors	0.181	1.987
	Cash & Bank Balances	8.302	12.011
	Other Current Assets	6.404	5.831
	Loans & Advances	5.994	7.574
Total Current Assets		86.074	62.152
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	23.999	29.896
	Other Current Liabilities	45.500	50.010
	Provisions	2.176	3.135
Total Current Liabilities		71.675	83.041
Net Current Assets		14.399	(20.889)
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		38.341	(5.687)

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	356.571	255.500	287.406
		Other Income	1.137	2.476	0.679
		TOTAL	357.708	257.976	288.085
Less	EXPENSES
		Material Expenses	0.000	0.000	186.406
		Direct Expenses	0.000	0.000	67.516
		Administrative and Other Expenses	52.136	14.078	27.865
		Extraordinary Items	0.000	0.000	0.000
		Consumption materials changes inventories	260.250	174.203	0.000
		Manufacturing service costs	0.000	4.002	0.000
		Contract cost	0.000	41.848	0.000
		Employee related expenses	56.049	15.917	0.000
		Changes in inventories of finished goods, work in progress and stock in trade	(13.515)	0.000	0.000
		TOTAL	354.920	250.048	281.787
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		2.788	7.928	6.298
Less	FINANCIAL EXPENSES		0.057	0.040	0.132
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		2.731	7.888	6.166
Less/ Add	DEPRECIATION/ AMORTISATION		3.688	4.168	2.569
Add	EXCEPTIONAL ITEMS		0.000	0.075	0.000
	PROFIT / (LOSS) BEFORE TAX		(0.957)	3.795	3.597
Less	TAX		0.136	0.821	0.979
	PROFIT / (LOSS) AFTER TAX		(1.093)	2.974	2.618
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(7.254)	(10.228)	(12.846)
	BALANCE CARRIED TO THE B/S		(8.347)	(7.254)	(10.228)
	Earnings / (Loss) Per Share (Rs.)		(21.86)	59.48	52.37

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(0.31)	1.15	0.91
Net Profit Margin (PBT/Sales)	(%)	(0.27)	1.48	1.25
Return on Total Assets (PBT/Total Assets}	(%)	(0.61)	3.50	4.65
Return on Investment (ROI) (PBT/Networth)		0.12	(0.56)	(0.37)
Debt Equity Ratio (Total Debt/Networth)		(5.44)	(6.05)	0.00
Current Ratio (Current Asset/Current Liability)		1.26	1.20	0.75

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	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 involved in	--
23]	Banking Details	Yes
24]	Banking facility details	No
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	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

OPERATIONS:

During the year, the Company achieved sales of 290000 (PY 288900) pairs (Of shoes aggregating to Rs.356.570 Millions (PY 255.500 Millions), recording an increase of 40% in revenue. Loss before taxation during the year was Rs.10.930 Millions as against a profit before taxation of Rs. 2.970 Millions in the previous year.

FIXED ASSETS:

• Plant and Machinery
• Computers
• Furniture and Fixtures
• Office Equipments
• Factory Equipments
• Motor Vehicle

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.67.70
UK Pound	1	Rs.105.14
Euro	1	Rs.90.03

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		12

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.