MIRA INFORM REPORT

Report Date :

11.12.2013

IDENTIFICATION DETAILS

Name :	MEHTA TUBES LIMITED
Formerly Known As :	MEHTA TUBES PRIVATE LIMITED
Registered Office :	Char Rasta, Nana Pondha, Taluka : Dharmpur, District Valsad – 396 126, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	03.06.1988
Com. Reg. No.:	04-010794
Capital Investment / Paid-up Capital :	Rs.42.944 millions
CIN No.: [Company Identification No.]	U27109GJ1988PLC010794
PAN No.: [Permanent Account No.]	AACCM9377R
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Copper and Brass Pipes, Tubes, Rods and Strips.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 930000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Exist
Comments :	Subject is an established company having satisfactory track record. The management has failed to file its financial with government department for the year 2013. As per available financial of 2012, profitability of the company seems to be fair. General financial position of the company appears to be sound and healthy. Trade relations are fair. Business is active. Payment terms are usually correct. The company can be considered for business dealings at usual trade terms and condition.

NOTES :

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

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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 :	Mr. Dinesh Shah
Designation :	Accounts Manager
Contact No.:	91-22-43404646
Date :	10.12.2013

LOCATIONS

Registered Office/Factory :	Char Rasta, Nana Pondha, Taluka : Dharmpur, District Valsad – 396 126, Gujarat, India
Tel. No.:	91-2633-250112
Fax No.:	Not Available
E-Mail :	sales@mehta-group.com admin@mehta-group.com mukesh@mehta-group.com mehtatubes@vsnl.com
Website :	www.mehtatubes.com
Location :	Owned
Head Office :	No. 920-924, Plaza Panchsheel, 9th Floor, No. 55 Huges Road, Near Dharam Palace, Chowpatty, Mumbai -400 007, Maharashtra, India
Tel. No.:	91-22-43404040
Fax No.:	91-22-43404050
E-Mail :	info@mehta-group.com nishit@mehta-group.com

DIRECTORS

As on 29.09.2012

Name :	Mr. Mangilal Vacharaj Mehta
Designation :	Director
Address :	107-B, Shripal Nagar, Mumbai – 400 006, Maharashtra, India
Date of Birth/Age :	14.07.1950
Date of Appointment :	03.06.1988
DIN No.:	02499096
Name :	Mr. Rikhabchand Vachraj Mehta
Designation :	Director
Address :	107-B, Shripal Nagar, Mumbai – 400 006, Maharashtra, India
Date of Birth/Age :	12.05.1964
Date of Appointment :	03.06.1988
DIN No.:	01597368
Name :	Mr. Mukesh Mangilal Mehta
Designation :	Director
Address :	74, Subhadra Mansion, walkeshwar Road, Mumbai- 400006, Maharashtra, India.
Date of Appointment :	28.12.2005
DIN No.:	01492795
Name :	Mr. Sanjay Ramniklal Shah
Designation :	Director
Address :	4C, Ridge Apartment, Rodge Road, Malabar Hill, Mumbai- 400006, Maharashtra, India.
Date of Appointment :	28.12.2005
DIN No.:	02505950

KEY EXECUTIVES

Name :	Mr. Dinesh Shah
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Mangilal V. Mehta	41937
Rikabchand V. Mehta	53619
Mukesh M. Mehta	66000
Ganpat V. Mehta	23787
Mangilal V. Mehta HUF	3000
Rikabchand V. Mehta HUF	1200
Kavita M. Mehta	1425
Neeru M. Mehta	1335
Jayaben M. Mehta	4050
Mahesh M. Mehta	1878
Anita Mehta	2775
Kusumiben V Mehta	2268
Urmila R. Mehta	8250
Piyush S. Vyas	5880
Sanjay R. Shah	36204
Vijay B Morakhia	1800
Dilip S. Shah	5004
Shailesh K. Shah	3600
Jayesh B. Morakhia	56400
Vimlaben K. Shah	5850
Kamlaben R. Shah	1260
AMI Impex Company Limited, Japan	101919
Total	429441

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	23.73
Directors or relatives of Directors	76.27
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Copper and Brass Pipes, Tubes, Rods and Strips.

Products :

ITC CODE	PRODUCT
7411.00	Non Ferrous Products

Exports :

Products :

Copper Brass

Countries :

· UK

· America

· Egypt

· Australia

Imports :

Products :

Raw Material

Countries :

· Malaysia

· UK

· Dubai

Terms :

Selling :

L/C, Cash, Credit

Purchasing :

L/C, Cash, Credit

GENERAL INFORMATION

Suppliers :

· Jindal Company

· Armax Controls

· Anchor Electricals Private Limited

· Bajaj Tooling

· Gold Oil Corporation

· J A Electrical Corporation

· Nibcop Fittings Private Limited

· Swati Non Ferrous Private Limited

· Tushar Acid and Chemicals

· Nisha Packaging

· Remi Steel House

· Image India Private Limited

· Ishan Corporation

· Jai Shakti Tube

Customers :

Wholesalers and Retailers

· Brass Copper Limited

· Abacus Tubes Limited

· Ameri Tube

· Cgypt Gas Company

· ETA Engineering Private Limited

· Global Metals

· Gupta Industrial Corporation

· Hivoltrans Electricals Private Limited

· Lloyd Electric and Engineering Limited

· Nagarjuna Oil corporation Limited

· Rolls Royce Marine India Private Limited

· South Coast Steam Limited

· M Raj and Company

No. of Employees :

200 (Approximately)

Bankers :

• Citi Bank NA, Trent House, 2^nd Floor, Plot No. C 60, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India
• ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India
• Bank of India, Ballard Estate
• State Bank of India, Hughes Road Branch
• Bank of Baroda, Mumbai
• State Bank of India, Sahar
• Punjab National Bank
• Bank of Rajasthan

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Short Term Borrowing
Working Capital Loans – Citi Bank	110.801	52.555
Buyers Credit – Citi Bank	27.243	7.940
Total	138.044	60.495

Banking Relations :	---
Financial Institution :	3i Infotech Trusteeship Services Limited, 3^rd to 6^th Floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai-400703, Maharashtra, India
Auditors :
Name :	Mehta Lodha and Company Chartered Accountants
Address :	105 Sakar -1, First Floor, Opposite Gandhigram Railway Station, Ashram Road, Ahmedabad – 380 009, Gujarat, India
Tel. No.:	91-79-26586683/85
Fax No.:	91-79-26586684
PAN No.:	AACFM6805H
Associates:	Mukesh Metal India Private Limited Metal Gems Brass Copper and Alloys (India) Limited Met India

CAPITAL STRUCTURE

As on 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
429441	Equity Shares	Rs.10/- each	Rs.42.944 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	42.944	14.315
(b) Reserves & Surplus	191.193	194.614
(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)	234.137	208.929
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	16.705	17.105
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	16.705	17.105
(4) Current Liabilities
(a) Short term borrowings	419.953	308.542
(b) Trade payables	31.172	17.000
(c) Other current liabilities	11.948	29.142
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	463.073	354.684
TOTAL	713.915	580.718
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	155.309	150.582
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.139	0.139
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	4.484	6.430
(e) Other Non-current assets	1.667	1.594
Total Non-Current Assets	161.599	158.745
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	237.714	145.897
(c) Trade receivables	225.032	164.392
(d) Cash and cash equivalents	2.254	10.474
(e) Short-term loans and advances	87.134	101.122
(f) Other current assets	0.182	0.088
Total Current Assets	552.316	421.973
TOTAL	713.915	580.718

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		14.315
2] Share Application Money		0.000
3] Reserves & Surplus		177.429
4] (Accumulated Losses)		0.000
NETWORTH		191.744
LOAN FUNDS
1] Secured Loans		43.800
2] Unsecured Loans		102.207
TOTAL BORROWING		146.007
DEFERRED TAX LIABILITIES		12.957
TOTAL		350.708
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		115.652
Capital work-in-progress		8.854
INVESTMENT		0.139
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	69.726
	Sundry Debtors	152.721
	Cash & Bank Balances	14.219
	Other Current Assets	0.000
	Loans & Advances	29.572
Total Current Assets		266.238
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	40.175
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		40.175
Net Current Assets		226.063
MISCELLANEOUS EXPENSES		0.000
TOTAL		350.708

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	804.237	749.310	391.131
		Other Income	8.208	1.833	39.103
		TOTAL (A)	812.445	751.143	430.234
Less	EXPENSES
		Cost of Material Consumed	707.746	683.859
		Purchase of Traded Goods	11.184	0.000
		Changes inventories of finished goods and stock –in-process	(89.089)	(75.307)	392.023
		Employees benefit expense	3.554	3.572
		Others expense	110.318	82.889
		TOTAL (B)	743.713	695.013	392.023
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		68.732	56.130	38.211
Less	FINANCIAL EXPENSES (D)		19.396	12.502	9.049
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		49.336	43.628	29.162
Less/ Add	DEPRECIATION/ AMORTISATION (F)		12.831	12.299	11.693
	PROFIT BEFORE TAX (E-F) (G)		36.505	31.329	17.469
Less	TAX (H)		11.296	14.145	5.883
	PROFIT AFTER TAX (G-H) (I)		25.209	17.184	11.586
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		71.863	54.679	43.093
	BALANCE CARRIED TO THE B/S		97.072	71.863	54.679
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	330.049	241.330	87.568
	TOTAL EARNINGS		330.049	241.330	87.568
	IMPORTS VALUE		402.410	220.655	113.787
	Earnings Per Share (Rs.)		58.70	40.02	84.97

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.10	2.29	2.69
Net Profit Margin (PBT/Sales)	(%)	4.54	4.18	4.47
Return on Total Assets (PBT/Total Assets}	(%)	5.11	5.40	4.57
Return on Investment (ROI) (PBT/Networth)		0.16	0.15	0.06
Debt Equity Ratio (Total Debt /Networth)		1.79	1.48	0.76
Current Ratio (Current Asset/Current Liability)		1.19	1.19	6.63

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG-TERM DEBT

Rs. In Millions

Particular	31.03.2012	31.03.2011	31.03.2010
Current maturities of long-term debt	0.000	20.000	NA

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 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	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	Yes
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	No
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	No

LITIGATIONS DETAILS

HIGH COURT OF GUJARAT

TAX APPEAL No. 453 of 2011

Status : PENDING	(Converted from : ST/427/2009)	CCIN No : 001092201100453
Last Listing Date:	13/08/2012
Coram	HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI HONOURABLE MR.JUSTICE N.V.ANJARIA
Not Before :	HONOURABLE MR.JUSTICE C.K.BUCH

S.NO.	Name of the Petitioner	Advocate On Record
1	COMMISSIONER OF CENTRAL EXCISE & CUSTOMS DAMAN	MR RJ OZA for: Appellant(s)  1

S.NO.	Name of the Respondant	Advocate On Record
1	MEHTA TUBES PRIVATE LIMITED	MR HARDIK P MODH for :Opponent(s)  1

Presented On	: 10/02/2009	Registered On	: 10/02/2009
Bench Category	: DIVISION BENCH	District	: VALSAD
Case Originated From	: THROUGH ADVOCATE	Listed	: 110 times
Stage Name	: FOR REGULAR ADMISSION
Act	CENTRAL EXCISES AND SALT ACT, 1944

OFFICE DETAILS

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	15/08/2011	VAKALATNAMA	MR HARDIK P MODH ADVOCATE for RESPONDENT(s)  1	-	MR HARDIK P MODH:1
2	15/08/2011	VAKALATNAMA	MR RJ OZA ADVOCATE for PETITIONER(s)  1	-	MR RJ OZA:1
3	25/07/2012	APPEARANCE NOTE	MR RJ OZA ADVOCATE for PETITIONER(s)  1	-	MR RJ OZA:1
4	08/10/2012	VAKALATNAMA	MR HARDIK P MODH ADVOCATE for RESPONDENT(s)  1	5	MR HARDIK P MODH:1

LINKED MATTERS

S. No.	CaseDetail	Status Name	Disposal Date	Action/Coram
1	MISC. CIVIL APPLICATION/52/2010	DISPOSED	26/04/2010	ANY OTHER MODE @ ADM.STAGE HONOURABLE MR.JUSTICE D.A.MEHTA  HONOURABLE MS.JUSTICE HARSHA DEVANI

COURT PROCEEDINGS

S. No.	Notified Date	CourtCode	Board Sr. No.	Stage	Action	Coram
1	15/07/2009	3	-	FOR REGULAR ADMISSION	NEXT DATE	REGISTRAR (JUDICIAL)
2	27/08/2009	3	-	FOR OFFICE OBJECTION	NEXT DATE	HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN  HONOURABLE MR.JUSTICE AKIL KURESHI
3	21/10/2011	7	-	FOR ORDERS	NEXT DATE	HONOURABLE MR.JUSTICE AKIL KURESHI  HONOURABLE MS JUSTICE SONIA GOKANI
4	03/07/2012	3	42	FOR ORDERS	NEXT DATE	HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI  HONOURABLE MR.JUSTICE N.V.ANJARIA
5	17/07/2012	3	22	FOR REGULAR ADMISSION	NEXT DATE	HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI  HONOURABLE MR.JUSTICE N.V.ANJARIA
6	23/07/2012	3	37	FOR REGULAR ADMISSION	NEXT DATE	HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI  HONOURABLE MR.JUSTICE N.V.ANJARIA
7	30/07/2012	3	25	FOR REGULAR ADMISSION	NEXT DATE	HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI  HONOURABLE MR.JUSTICE N.V.ANJARIA
8	07/08/2012	3	32	FOR REGULAR ADMISSION	NEXT DATE	HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI  HONOURABLE MR.JUSTICE N.V.ANJARIA
9	13/08/2012	3	19	FOR REGULAR ADMISSION	FIXED RULE / ADMIT	HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI  HONOURABLE MR.JUSTICE N.V.ANJARIA

AVAILABLE ORDERS

S. No.	Case Details	Judge Name	Order Date	CAV	Judgment/Order	Download
1	TAX APPEAL/453/2011	HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI  HONOURABLE MR.JUSTICE N.V.ANJARIA	07/08/2012	N	ORDER	Download
2	TAX APPEAL/453/2011	HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI  HONOURABLE MR.JUSTICE N.V.ANJARIA	30/07/2012	N	ORDER	Download
3	TAX APPEAL/453/2011	HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI  HONOURABLE MR.JUSTICE N.V.ANJARIA	13/08/2012	N	ORDER	Download

CERTIFIED COPY

S. No.	ApplicantName	ApplicationType	Application Date	UOL Number	Order Date	Notify Date	Delivery Date	Status	Nature Of Document
1	MR RJ OZA	ORDINARY	14/08/2012	O/26950/2012	13/08/2012	17/08/2012	17/08/2012	Delivered	ORDER

CORPORATE INFORMATION

Subject is a public company domiciled in India and incorporated under provision of the companies Act, 1956. The company is engaged in the manufacturing and trading of Copper and Brass Pipes, Tubes, Rods and Strips.

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2012	As on 31.03.2011
Short Term Borrowing
Loan and advances from related parties repayable on demand	280.989	247.127
Others	0.920	0.920
Total	281.909	248.047

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10406784	31/12/2012	470,800,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B69095768
2	10406792	31/12/2012	470,800,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B69097566
3	10066006	10/07/2007	15,000,000.00	CITIBANK N. A.	GLOBAL CORPORATE BANKING, 1ST FLOOR, PLOT NO. C- 61, BLOCK -G, BKC, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA	A21066774
4	90111868	24/08/2011 *	140,000,000.00	CITIBANK N. A.	TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA	B19578350
5	90111753	24/08/2011 *	140,000,000.00	CITIBANK N. A.	TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA	B19578996

* Date of charge modification

FIXED ASSETS

• Freehold Land
• Leasehold Land (Wind Mill)
• Building
• Plant and Machinery
• Furniture and Fixture
• Computers
• 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 records 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.61.21
UK Pound	1	Rs.100.65
Euro	1	Rs.84.15

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
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	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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

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

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

RATING EXPLANATIONS

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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