1. Summary Information

		Country	India
Company Name	Teva Api India Limited	Principal Name 1	Mr. Vijay Kumar Batra
Status	Good	Principal Name 2	Mr. David Kadmon
		Registration #	55-138679
Street Address	M - 34, Saket, New Delhi – 110 017, Delhi, India
Established Date	26.04.2002	SIC Code	--
Telephone#	91-11-204073209	Business Style 1	Manufacturers
Fax #	91-11-204073275	Business Style 2	--
Homepage	--	Product Name 1	Active Pharmaceutical Ingredients (API’s) and Intermediates
# of employees	4 (Approximately)	Product Name 2	--
Paid up capital	Rs.3616,868,000/-	Product Name 3	--
Shareholders	Foreign holdings – 100.00%	Banking	Not Divulged
Public Limited Corp.	No	Business Period	11 years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	Ba (54)
Related Company
Relation	Country	Company Name	CEO
Fellow Subsidiaries :	--	Assia Chemicals Industries limited	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	2,349,300,000	Current Liabilities	3,302,800,000
Inventories	4,947,000,000	Long-term Liabilities	380,000,000
Fixed Assets	5,676,400,000	Other Liabilities	351,300,000
Deferred Assets	0,000	Total Liabilities	4,034,100,000
Invest& other Assets	1,325,600,000	Retained Earnings	2,454,000,000
		Net Worth	10,264,200,000
Total Assets	14,298,300,000	Total Liab. & Equity	14,298,300,000
Total Assets (Previous Year)
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	10,612,500,000	Net Profit	487,300,000
Sales(Previous yr)	8,225,100,000	Net Profit(Prev.yr)	312,500,000

MIRA INFORM REPORT

Report Date :

07.12.2013

IDENTIFICATION DETAILS

Name :	TEVA API INDIA LIMITED (w.e.f 17.01.2008)
Formerly Known As :	REGENT DRUGS LIMITED
Registered Office :	M - 34, Saket, New Delhi – 110 017, Delhi
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.04.2002
Com. Reg. No.:	55-138679
Capital Investment / Paid-up Capital :	Rs.3616.868 Millions
CIN No.: [Company Identification No.]	U74899DL2002PLC138679
TAN No.: [Tax Deduction & Collection Account No.]	DELR07854A
PAN No.: [Permanent Account No.]	AACCR0679R
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturers of Active Pharmaceutical Ingredients (API’s) and Intermediates
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 41056800
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having fine track. The company is doing well. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good 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 – June 30, 2012

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

India’s current account deficit or CAD in April-June widened to 4.9 % of gross domestic product. High imports of gold and oil led to a worsening of the traqde deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the corresponding quarter of the previous financial year. The government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2 billion in 2012/13.

The finance ministry has started preparations for Budget 2014/15. With general elections scheduled to be held by May next year, there will only be an interim budget. The new government will present the fiscal Budget.

The Supreme Court has barred clinical trials for new drugs till a monitoring mechanism is put in place to protect the lives of people on which the drugs are tested.

Mumbai has been named the world’s second most honest city according to a survey on 15 cities worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot for the world’s most honest city while Lisbon, the capital of Portugal, proved to be the least honest.  The survey put hundreds of people to test in four continents to find out just how honest they were by dropping wallets and seeing how many would be returned.

3.7 % Growth of the core sector in August, a seven month high. This takes the overall growth in April-August this year to 2.3 % compared with 6.3 % in the corresponding period next financial year.

$19 million Estimated average spending by companies across the globe including India, on social media this year, according to a global study by information technology major Tata Consultancy Services. This will rise to $ 24 million in 2015.

Rising inflation, fewer employment avenues and dwindling earnings are taking a toll on the spending capacity in India. Over 72 % respondents from middle and lower middle income families would be forced to slash their Diwali expenditure by 40 % and on average spend nearly 25 % of their monthly salary on Diwali, according to a survey by Assochem.

Analysts believe the shutdown of the US government would have limited impact in sectors such as IT or tourism that are dependent on Visa clearances.

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ 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 :	M -34, Saket New Delhi – 110 017, Delhi, India
Tel. No.:	91-11-204073209
Fax No.:	91-11-204073275
E-Mail :	sunil.sharma@rdlmail.com rkgoel@rdlmail.com sunil.sharma@teva.co.in
Head Office :	13^th Milestone, Delhi Mathura Road, Faridabad – 121 003, Haryana, India
Tel. No.:	91-129-2258945 to 2258945
Fax No.:	91-129-2274362
E-Mail :	onfo@regentdrugs.com
Website:	www.regentdrugs.com
Corporate Office :	5 Basel St. Petach Tikva 49131, Israel.
Tel No :	+972-3-9267267
Fax No :	+972-3-9234050
Factory:	Plot No. A-2, A-2, A-2/1,A-2/2, UPSIDC Industrial Area, Gujraula-244 235, District J P Nagar, Uttar Pradesh
Tel. No.:	91-5924-252590 to 252593
Fax No.:	91-59245252314
Administrative Office :	8, Bahadur Shah Zafar Marg, New Delhi – 110 002, India.
Tel. No.:	91-11-23316791 / 23716811 /23716663
Fax No.:	91-11-51509449 / 23350993
International Office :	Teva Pharmaceuticals Curacao N.V. Latin America Representative office Schotegatweg Oost 29 D, Curacao, Netherlands Antilles Tel No: +5999-7366066 Fax No: +5999-7367066 Sicor Latinoamerica S.A. Pharmaceutical, Biogeneric and API development manufacture and marketing Pasaje Interlomas No. 16 - 5to. Piso, Col. San Fernando La Herradura, CP 52784 Huixquilucan, Edo. de Mexico Tel No: +(52)-55-5950-0200 Fax No: +(52)-55-5950-0201 Teva Pharamceutical Pte Limited, Singapore 28 Genting Lane, Platinum 28 #04-03, Singapore 349585, Level 8, KSK Main Building Tel No: +65-6509-0403 Fax No: +65-6509-0413 Teva Pharmaceutical K.K. 3-25-7 Hacchobori, Chuo-ku, Tokyo 104-0032, Japan Tel No: +81-3-5542-8980 Fax No: +81-3-5542-8981 Teva API India Limited Plot No. 2G, 2H, 2I, Udyog Vihar, Greater Noida 201308, India Tel No: 91-120-2351340 / 46 Fax No: 91-120-2351357 Assia Pharmaceuticals Limited Representative office for Kenya Funzi Road, P.O.B. 30620, Nairobi, Kenya Tel No: +254-20-537622 Fax No: +254-20-537628 Teva Pharmaceuticals (Pty) Limited Representative office for South Africa Suite 1, Building 4, Ruimsig Office Park, Hole In One Road, Ruimsig P.O.Box 1590, Ruimsig, 1732, Roodepoort, Gauteng, South Africa Tel No: +27 11 958 0271 Fax No: +27 11 958 0550 Teva Brazil Marketing Offices Teva Farmaceutica Ltda, Rua James Joule, 92, 15 andar, Sao Paulo, 04576-080, Brazil Tel No: +5511 5105 5750 Fax No: +5511 5105 5779 Teva Pharmaceutical Information RSuit 4002, 40/F, Tower 2 Plaza 66, No. 1366 Nanjing Road (W), Shanghai, 200040, China Tel No: +86 21 6091 9500 Fax No: +86 21 6091 9505

DIRECTORS

AS ON 27.09.2013

Name :

Mr. Vijay Kumar Batra

Designation :

Managing Director

Address :

161, Dayanand Vihar, Vikas Marg Extension, Delhi – 110 092, India.

Date of Birth/Age :

13.03.1947

Qualification :

B. Tech

Date of Appointment :

01.08.2003

DIN No.:

00038275

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74899DL2002PLC138679	TEVA API INDIA LIMITED.	Managing director	1/8/2009	1/8/2003	Active	NO
2	U73100MH2000PTC130011	TEVA INDIA PRIVATE LIMITED	Director	17/02/2006	17/02/2006	Active	NO
3	U24230DL2003FTC183289	TEVA PHARMACEUTICAL AND CHEMICAL INDUSTRIES INDIA PRIVATE LIMITED	Director	31/08/2009	11/12/2008	Active	NO
4	U33111MH2000FTC129835	TEVAPHARM INDIA PRIVATE LIMITED	Additional director	4/10/2011	4/10/2011	Active	NO

Name :

Mr. David Kadmon

Designation :

Director

Address :

Post Box No. 1371, Ganyavne 70800, Israel

Date of Birth/Age :

31.07.1950

Date of Appointment :

01.08. 2003

DIN No.:

01390876

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL2002PLC138679	TEVA API INDIA LIMITED.	Director	1/8/2003	1/8/2003	-	Active	NO
2	U24230DL2003FTC183289	TEVA PHARMACEUTICAL AND CHEMICAL INDUSTRIES INDIA PRIVATE LIMITED	Director	16/11/2007	16/11/2007	13/12/2007	Active	NO

Name :

Mr. Erez Israeli

Designation :

Director

Address :

Tamar 19, Rannana – 75321, Israel

Date of Birth/Age :

21.03.1967

Date of Appointment :

29.12.2005

DIN No.:

01408321

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74899DL2002PLC138679	TEVA API INDIA LIMITED.	Director	29/12/2005	29/12/2005	Active	NO
2	U24230DL2003FTC183289	TEVA PHARMACEUTICAL AND CHEMICAL INDUSTRIES INDIA PRIVATE LIMITED	Director	26/09/2008	13/12/2007	Active	NO

Name :

Mr. Kapil Dev Sapra

Designation :

Director

Address :

M -34 Saket New Delhi, Delhi – 110 017, India

Date of Birth/Age :

05.08.1972

Date of Appointment :

10.08.2006

DIN No.:

00130600

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24230DL2003FTC183289	TEVA PHARMACEUTICAL AND CHEMICAL INDUSTRIES INDIA PRIVATE LIMITED	Director	9/9/2005	9/9/2005	-	Active	NO
2	U73100MH2000PTC130011	TEVA INDIA PRIVATE LIMITED	Director	22/09/2009	17/02/2006	-	Active	NO
3	U74899DL2002PLC138679	TEVA API INDIA LIMITED	Director	29/09/2006	10/8/2006	-	Active	NO
4	U45400DL2007PTC171573	UDI REALTY INDIA PRIVATE LIMITED	Director	18/12/2007	18/12/2007	-	Active	NO
5	U74140DL2011PTC219099	LONELY PLANET INDIA PRIVATE LIMITED	Director	12/5/2011	12/5/2011	28/09/2011	Active	NO
6	U33111MH2000FTC129835	TEVAPHARM INDIA PRIVATE LIMITED	Additional director	3/8/2011	3/8/2011	-	Active	NO

Name :

Mr. David Mizrachi

Designation :

Director

Address :

119 Hemed Hazait Israel

Date of Birth/Age :

05.10.1960

Date of Appointment :

28.02.2013

Name :

Mr. Ramachandra Ganapati Naik

Designation :

Director

Address :

9, Eternity Kanakia Spaces Teen Hath Naka Thane – 400602, India

Date of Birth/Age :

18.07.1970

Date of Appointment :

31.08.2007

KEY EXECUTIVES

Name :	Mr. Sunil Kumar Sharma
Designation :	Secretary
Address :	13/3A, First Floor, Moti Nagar, New Delhi – 110 015, India.
Date of Birth/Age :	18.07.1970
Date of Appointment :	31.08.2007
Pan No.:	AHZPS2306P

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 27.09.2013

Names of Shareholders (Equity Shares)	No. of Shares
Teva Pharmaceuticals Finance Netherlands B V [1^st Holder] Asher Khatau Sanjay [2^nd Holder]	1
Teva Pharmaceuticals Finance Netherlands B V [1^st Holder] Ramchandran Madhvi [2^nd Holder]	1
Teva Pharmaceuticals Finance Netherlands B V [1^st Holder] Chowdhury Malashree [2^nd Holder]	1
Teva Pharmaceuticals Finance Netherlands B V [1^st Holder] Mehta Shraddha [2^nd Holder]	1
Teva Pharmaceuticals Finance Netherlands B V [1^st Holder] Pardi Wala Armi N [2^nd Holder]	1
Teva Pharmaceuticals Finance Netherlands B V [1^st Holder] Asher Prashant [2^nd Holder]	1
Teva Pharmaceuticals Finance Netherlands B V	75978244
Total	75978250

AS ON 27.09.2013

Names of Shareholders (Preference Shares)	No. of Shares
Teva Pharmaceuticals Finance Netherlands B V, Netherland	76276006
Total	76276006

AS ON 27.09.2013

Equity Shares Break – up

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers of Active Pharmaceutical Ingredients (API’s) and Intermediates

Products :

Product Description	Item Code No.
Clarithromyice	29415000
Simvastatin	29415000
Famcyclovir	29415000

GENERAL INFORMATION

No. of Employees :

4 (Approximately)

Bankers :

Not Divulged

Facilities :

Unsecured Loans	31.03.2013	31.03.2012
	(Rs. In Millions)
Foreign Currency term loans from others	380.000	992.100
Total	380.000	992.100

Banking Relations :	--
Auditors :
Name :	S. R. Batliboi and Associates Chartered Accountants
Address :	Golf View Corporate Tower – 8, Sector 42, Sector Road, Gurgaon – 122002, Haryana, India
PAN No :	AABFC3421N
Holding Company :	· Teva Pharmaceuticals Finance Netherlands B.V.
Ultimate Holding Company :	· Teva Pharmaceuticals Industries Limited, Israel
Fellow Subsidiaries :	· Assia Chemicals Industries limited · Teva API BV · Teva Pharmaceutical and Chemical Industries India Private Limited CIN No: U24230MH2003FTC140276 · Abic Limited, Israel · Teva API International S.A. – Spain · Plus Chemicals SA, Switzerland · Teva Pharmaceuticals Works Company Private Limited, Hungary · Tapi Puerto RICO · Pliva Croatia limited · Pliva Hrvatska limited · Teva PFC Italy · Teva Pharmaceuticals and Chemical (Hangzhou) Company Limited · Plantex Limited, Israel
Enterprises where control over the composition of Governing Body exists	· Teva API India Limited Employees Group Gratuity Fund · Teva API India Limited Employees Group · Superannuation Fund

CAPITAL STRUCTURE

AFTER AS ON 27.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
200000000	Equity shares	Rs.10/- each	Rs.2000.000 Millions
120000000	Preference Shares	Rs.100/- each	Rs.12000.000 Millions
	Total		Rs.14000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
75978250	Equity shares	Rs.10/- each	Rs.759.782 Millions
76276006	Preference Shares	Rs.100/- each	Rs.7627.600 Millions
	Total		Rs.8387.382 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
200000000	Equity shares	Rs.10/- each	Rs.2000.000 Millions
120000000	Preference Shares	Rs.100/- each	Rs.12000.000 Millions
	Total		Rs.14000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
75980000	Equity shares	Rs.10/- each	Rs.759.800 Millions
70504000	Preference Shares	Rs.100/- each	Rs.7050.400 Millions
	Total		Rs.7810.200 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	7810.200	5258.800	3616.900
(b) Reserves & Surplus	2454.000	1966.800	1654.300
(c) Money received against share warrants	0.000	497.000	475.300
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	10264.200	7722.600	5746.500
(3) Non-Current Liabilities
(a) long-term borrowings	380.000	992.100	997.500
(b) Deferred tax liabilities (Net)	295.400	228.800	178.900
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	15.100	12.400	17.800
Total Non-current Liabilities (3)	690.500	1233.300	1194.200
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	726.600	1073.900	760.000
(c) Other current liabilities	2576.200	1593.400	283.300
(d) Short-term provisions	40.800	27.300	53.200
Total Current Liabilities (4)	3343.600	2694.600	1096.500
TOTAL	14298.300	11650.500	8037.200
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5672.100	4602.200	3457.700
(ii) Intangible Assets	4.300	3.000	5.300
(iii) Capital work-in-progress	1325.600	910.200	565.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	348.200	356.100	261.900
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	7350.200	5871.500	4289.900
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4947.000	4064.700	2776.800
(c) Trade receivables	1350.100	1219.300	278.700
(d) Cash and cash equivalents	379.400	243.000	469.900
(e) Short-term loans and advances	269.500	249.500	218.000
(f) Other current assets	2.100	2.500	3.900
Total Current Assets	6948.100	5779.000	3747.300
TOTAL	14298.300	11650.500	8037.200

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	10612.500	8225.100	4944.054
		Other Income	134.000	115.900	102.078
		TOTAL (A)	10746.500	8341.000	5046.132
Less	EXPENSES
		Consumption Materials Changed Inventories	7130.900	5759.800	3390.558
		Purchases of stock-in-trade	469.900	257.400	0.000
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(796.800)	(668.400)	0.000
		Employee Related Expenses	664.100	510.900	408.663
		Administrative and Selling Expenses			272.203
		Other Assets	1721.500	1328.500	0.000
		TOTAL (B)	9189.600	7188.200	4071.424
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1556.900	1152.800	974.708
Less	FINANCIAL EXPENSES (D)		98.400	129.600	18.293
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1458.500	1023.200	956.415
Less/ Add	DEPRECIATION/ AMORTISATION (F)		678.500	487.100	400.820
	PROFIT BEFORE TAX (E-F) (G)		780.000	536.100	555.595
Less	TAX (H)		292.700	223.600	22.636
	PROFIT AFTER TAX (G-H) (I)		487.300	312.500	532.959
	Earnings Per Share (Rs.)		6.41	4.11	7.01

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	4.53	3.75	10.56
Net Profit Margin (PBT/Sales)	(%)	7.35	6.52	11.24
Return on Total Assets (PBT/Total Assets}	(%)	5.46	4.60	7.50
Return on Investment (ROI) (PBT/Networth)		0.08	0.07	0.10
Debt Equity Ratio (Total Liability/Networth)		0.04	0.13	0.37
Current Ratio (Current Asset/Current Liability)		2.08	2.14	4.48

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	No
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	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	No
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	No
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	No

NOTE:

The Registered office of the company has been shifted from “C-215 Defence Colony, New Delhi – 110 024, India” to present address w.e.f. 19.10.2006.

Fixed assets:

· Leasehold Land

· Buildings

· Plant and machinery

· Office equipment

· Furniture and Fittings

· Vehicles

· Leasehold improvements.

· Computer software

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 records 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.61.67
UK Pound	1	Rs.100.65
Euro	1	Rs.84.25

INFORMATION DETAILS

Information Gathered by :	--
Report Prepared by :	SDA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	NO
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

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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.