MIRA INFORM REPORT

Report Date :

04.02.2013

IDENTIFICATION DETAILS

Name :	RANGSONS ELECTRONICS PRIVATE LIMITED
Registered Office :	347, D 1 and 2, KIADB Electronic City, Hebbal Industrial Area, Mysore – 570016, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	30.06.1993
Com. Reg. No.:	08-14470
Capital Investment / Paid-up Capital :	Rs.13.670 Millions
CIN No.: [Company Identification No.]	U31909KA1993PTC014470
TAN No.: [Tax Deduction & Collection Account No.]	BLRR02027E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Electronic Products, PCB and Cable Harness, Printed Circuit Assembly.
No. of Employees :	429 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 770000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The latest financials are not made available with the government. As per previous year’s, the performance capacity seems to be good. Financially company appears to be fair. Business is active. Payments are unknown. The company can be considered for business dealings with some caution.

NOTES:

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

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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/ Corporate Office/ Factory :	Plot No. 347, D 1 and 2, KIADB Electronic City, Hebbal Industrial Area, Mysore-570016, Karnataka, India
Tel. No.:	91-821-2404550/ 554/ 4280000
Fax No.:	91-821-2404529/ 4280060/ 4000369
E-Mail :	phanisha@bgl.vsnl.net.in srinivasrao@reve.com info@revc.com knphanisha@rangsons.com info@rangsons.com suppliers@rangsons.com job@rangsons.com
Website :	http://www.revc.com http://www.rangsons.com
Area :	20000 sq. ft.
Location :	Owned
Business Office:	Parvati Plaza, 1^st Floor, 104/105, Richmond Circle, Bangalore-560025, Karnataka, India
Tel. No.:	91-80-41254701
Fax No.:	91-80-41254704
E-Mail :	srinivasrao@revc.com
Bangalore Office :	77, Hope Farm, ITPL Road, White Field, Bangalore-560006, Karnataka, India
Tel. No.:	91-80-41254701-02-03/ 4152 3820
Fax No.:	91-80-41254704
E-Mail :	info@revc.com nhashok@revc.com

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Arjun Murthy Ranga

Designation :

Director

Address :

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

Date of Birth/Age :

30.04.1974

Date of Appointment :

31.03.2001

Din No.:

00235226

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	U74993KA1983PTC005435	PROSPERITY MARKETING SERVICES PRIVATE LIMITED	Director	11/5/1998	11/5/1998	Active	NO
2	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	31/03/2001	31/03/2001	Active	NO
3	U32106KA1989PTC010234	VASU COMTECH PRIVATE LIMITED	Managing director	31/08/2001	31/08/2001	Amalgamated	NO
4	U24244KA1982PTC004694	RIPPLE FRAGRANCES PRIVATE LIMITED	Director	27/01/2005	27/01/2005	Active	NO
5	U24249KA2004PTC033618	RIPPLE FRAGRANCES EXPORTS PRIVATE LIMITED	Director	29/09/2006	29/09/2006	Active	NO
6	U52312KA2008PTC046353	ARJATI TRADING PRIVATE LIMITED	Director	7/5/2008	7/5/2008	Active	NO
7	U15143KA1979PTC003541	NATURAL AND ESSENTIAL OILS PRIVATE LIMITED	Director	27/09/2010	16/11/2009	Active	NO
8	U36912KA2011PTC058960	RANGSONS DEFENCE SOLUTIONS PRIVATE LIMITED	Director	3/6/2011	3/6/2011	Active	NO
9	U29100KA2011PTC060197	RANGSONS SCHUSTER TECHNOLOGIES PRIVATE LIMITED	Director	30/08/2011	30/08/2011	Active	NO

Name :

Mr. Kiran Vasu Ranga

Designation :

Director

Address :

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

Date of Birth/Age :

29.03.1977

Date of Appointment :

14.07.2007

Din No.:

00235087

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	U74140KA1999PTC025824	VERTEBRAND MANAGEMENT CONSULTING PRIVATE LIMITED	Director	16/01/2004	16/01/2004	1/2/2008	Active	NO
2	U15143KA1979PTC003541	NATURAL AND ESSENTIAL OILS PRIVATE LIMITED	Director	24/01/2008	1/3/2004	-	Active	NO
3	U24249KA2004PTC033618	RIPPLE FRAGRANCES EXPORTS PRIVATE LIMITED	Director	24/03/2004	24/03/2004	-	Active	NO
4	U24244KA1982PTC004694	RIPPLE FRAGRANCES PRIVATE LIMITED	Managing director	27/01/2005	27/01/2005	-	Active	NO
5	U74993KA1983PTC005435	PROSPERITY MARKETING SERVICES PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Active	NO
6	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	14/07/2007	6/7/2007	-	Active	NO
7	U52312KA2008PTC046353	ARJATI TRADING PRIVATE LIMITED	Director	7/5/2008	7/5/2008	-	Active	NO
8	U15141KA2010PTC052578	NESSO - KDHP NATURAL EXTRACTS PRIVATE LIMITED	Director	16/08/2011	18/10/2010	-	Active	NO
9	U36912KA2011PTC058960	RANGSONS DEFENCE SOLUTIONS PRIVATE LIMITED	Director	3/6/2011	3/6/2011	-	Active	NO

Name :

Mr. Pavan Guru Ranga

Designation :

Director

Address :

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

Date of Birth/Age :

29.09.1975

Date of Appointment :

14.07.2007

Din No.: 

00235202

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	U74993KA1983PTC005435	PROSPERITY MARKETING SERVICES PRIVATE LIMITED	Director	31/01/2001	31/01/2001	Active	NO
2	U32106KA1989PTC010234	VASU COMTECH PRIVATE LIMITED	Director	31/08/2001	31/08/2001	Amalgamated	NO
3	U72200KA2002PTC030526	RANGSONS ELECTRONICS SOLUTIONS PRIVATE LIMITED	Managing director	21/05/2002	21/05/2002	Amalgamated	NO
4	U24244KA1982PTC004694	RIPPLE FRAGRANCES PRIVATE LIMITED	Director	27/01/2005	27/01/2005	Active	NO
5	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	14/07/2007	6/7/2007	Active	NO
6	U52312KA2008PTC046353	ARJATI TRADING PRIVATE LIMITED	Director	7/5/2008	7/5/2008	Active	NO
7	U15143KA1979PTC003541	NATURAL AND ESSENTIAL OILS PRIVATE LIMITED	Director	27/09/2010	16/11/2009	Active	NO
8	U15141KA2010PTC052578	NESSO - KDHP NATURAL EXTRACTS PRIVATE LIMITED	Director	16/08/2011	23/04/2010	Active	NO
9	U24249KA2004PTC033618	RIPPLE FRAGRANCES EXPORTS PRIVATE LIMITED	Additional director	1/4/2011	1/4/2011	Active	NO
10	U36912KA2011PTC058960	RANGSONS DEFENCE SOLUTIONS PRIVATE LIMITED	Director	3/6/2011	3/6/2011	Active	NO
11	U29100KA2011PTC060197	RANGSONS SCHUSTER TECHNOLOGIES PRIVATE LIMITED	Director	30/08/2011	30/08/2011	Active	NO

Name :

Mr. Krsihnamurthy Venugopala Tenneti

Designation :

Director

Address :

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

Date of Birth/Age :

29.06.1945

Date of Appointment :

08.02.2008

Din No.:

01338477

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	U73100HR1999PTC037386	EMERGENT VENTURES INDIA PRIVATE LIMITED	Director	16/08/1999	16/08/1999	-	Active	NO
2	U72200MH1998PLC114664	CYGSOFT LIMITED	Director	4/5/2000	4/5/2000	5/1/2008	Active	NO
3	U72900KA2004PTC034656	BINATAR ELECTRONICS PRIVATE LIMITED	Director	9/9/2004	9/9/2004	-	Active	YES
4	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	8/2/2008	2/11/2007	-	Active	NO
5	U73100KA1998PTC032501	INDEGENE LIFESYSTEMS PRIVATE LIMITED	Director	29/09/2008	22/07/2008	-	Active	NO

Name :

Mr. Phanisha Nagappa Kalale

Designation :

Director

Address :

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

Date of Birth/Age :

14.12.1967

Date of Appointment :

29.09.2012

Din No.: 

00062536

KEY EXECUTIVES

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

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

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

AS ON 30.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

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

Products :

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

PRODUCTION STATUS [AS ON 31.03.2010]

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

GENERAL INFORMATION

No. of Employees :

429 (Approximately)

Bankers :

· State Bank of Mysore

Mysore Main Branch, No. 7, Ashoka Road, Mysore-570001, Karnataka, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loans	109.997	67.672
Working capital loans	230.396	254.273
Total	340.393	321.945

Banking Relations :	--
Auditors :
Name :	B.S. Ravikumar and Associates Chartered Accountants
Address :	73, 2^nd Floor, Sri Madhvesha Complex, Malai Mahadeshwara Road, Nazarbad, Mysore – 570 010, Karnataka, India
PAN No.:	AADFB1008N

CAPITAL STRUCTURE

(AS ON 29.09.2012)

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

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

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		13.670	12.070	12.070
2] Share Application Money		0.000	0.000	5.325
3] Reserves & Surplus		179.343	138.692	140.214
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		193.013	150.762	157.609
LOAN FUNDS
1] Secured Loans		340.393	321.945	309.656
2] Unsecured Loans		43.519	43.519	43.519
TOTAL BORROWING		383.912	365.464	353.175
DEFERRED TAX LIABILITIES		0.000	0.000	0.024
TOTAL		576.925	516.226	510.808
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		188.303	159.495	159.904
Capital work-in-progress		8.339	7.695	5.693
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		5.624	7.784	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	324.117	280.971	273.581
	Sundry Debtors	212.323	91.261	100.700
	Cash & Bank Balances	23.994	17.713	47.485
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	58.819	62.883	57.813
Total Current Assets		619.253	452.828	479.579
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	230.659	12.798	122.578
	Other Current Liabilities	13.935	98.778	11.790
	Provisions	0.000	0.000	0.000
Total Current Liabilities		244.594	111.576	134.368
Net Current Assets		374.659	341.252	345.211
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		576.925	516.226	510.808

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		TOTAL		612.251	NA
Less	EXPENSES
		TOTAL		596.189	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		NA	16.062	47.938
Less/ Add	DEPRECIATION/ AMORTISATION			30.717	25.567
	PROFIT/ (LOSS) BEFORE TAX			(14.655)	22.371
Less	TAX			(7.808)	13.764
	PROFIT/ (LOSS) AFTER TAX			(6.847)	8.607
	EARNINGS IN FOREIGN CURRENCY		823.429	372.905	NA
	Earnings / (Loss) Per Share (Rs.)		NA	(5.67)	7.15

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	(1.11)	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA	(2.39)	3.49
Return on Investment (ROI) (PBT/Networth)		NA	(0.09)	0.14
Debt Equity Ratio (Total Debt/Networth)		1.99	2.42	2.24
Current Ratio (Current Asset/Current Liability)		2.53	4.05	3.56

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	Yes
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last one years	Yes
12]	Profitability for last two 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	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

UNSECURED LOANS

Particulars	31.03.2011	31.03.2010
	(Rs. In Millions)
Loans directors	25.887	25.887
Others debts	17.632	17.632
Total	43.519	43.519

FORM 8

This form is for	Modification of charge
Charge identification number of the modified	90198041
Corporate identity number of the company	U31909KA1993PTC014470
Name of the company	RANGSONS ELECTRONICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	347, D1 & 2, Kiadb Electronics, City Hebbal, Indus, Mysore – 570016, Karnataka, India knphanisha@rangsons.com
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	· State Bank of Mysore Mysore Main Branch, No. 7, Ashoka Road, Mysore-570001, Karnataka, India mysore@sbm.co.in
Nature of description of the instrument creating or modifying the charge	1. FORM C-2 A: Supplemental Agreement of hypothecation of goods and assets for increase in the overall limit to Rs.2033.800 Millions 2. Form C.1-A : Supplemental Agreement of loan for increase in overall limit.
Date of instrument Creating the charge	07.12.2012
Amount secured by the charge	Rs.2033.800 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest Term Loan VI [55.000 Millions] - 3% above Base Rate i.e.,13.25% pa at present Project based Non-fund based limit [1256.500 Millions] -at standard rates rate of interest of other limits Terms of Repayment Cash Credit and SLC: Repayable on demand or renewable on merits on due date. Term Loan VI [55.000 Millions] : Repayable in 66 months with start up period of 6 months starting from April 2013, 53 installments of Rs.0.900 Million each, 4 installments of Rs.1.000 Million each and 3 installments of Rs.1.100 Million each. Terms of repayment of other facilities to continue as per sanction. Margin Cash Credit/SLC: Raw Materials - Domestic : 20% Raw Materials - Imported: 20% Stock In Progress : 20% Finished Goods : 20% Receivable (cover days) : 20% (Cover period - 90 days) Letter of Credit : 10% Bank Guarantee : 10% Project based NFB limits : 50% Term Loan (new) : 21.43% Extent and Operation of the charge The Charge is to operate as security, by way of first exclusive charge, for the due repayment of overall comprehensive credit facility of Rs.2033.800 Millions together with interest, additional interests, costs, charges, expenses and all other moneys payable by the Company to the Bank in terms of sanction. Others Other terms as stipulated in sanction letter, supplemental agreement of hypothecation and supplemental agreement of loan.
Short particulars of the property charged	Cash Credit/SLC: Hypothecation charge over stocks and receivable. Assignment of documentary bills/clean bills accompanied by acknowledgement from the buyers for having taken delivery of the goods. Packing Credit to be released against from orders/LCs. ILC / FLC: Charge on goods covered under LC and charge on current assets of the company. Bank Guarantee : Counter guarantee of the company and charge on currents assets of the company Project based NFB: Project based cash margin and charge on current assets Term Loan VI [55.000 Millions]: Hypothecation of plant and machineries, equipment purchased out of bank finance. Collateral Security: Hypothecation charge over stocks and receivables. Collateral Security for all limits : Hypothecation charge on plant and machinery and other equipments/assets Rs. 185.600 Millions (WDV as on 31.03.2012)
Date of latest modification prior to the present modification	22.02.2012
Particulars of the present modification	Increase of overall comprehensive credit facilities from Rs.68.37 Cr to Rs.203.38 Cr as follows: Facility - Limits (in Millions) Existing Revised ------------------------------------------------- Cash Credit 325.000 400.000 SLC - 50.000 LC/BG 259.800 200.000 Term Loan Existing 98.900 72.300 Term Loan VI - 55.000 Project based NFB - 1256.500 TOTAL 683.700 2033.800

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixtures

· Electrical Installation

· Software

· Office Equipments

· Computers and Software

· Tools and Equipments

· Generator

· Borewell

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No 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.53.32
UK Pound	1	Rs.84.60
Euro	1	Rs.72.63

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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
TOTAL		27

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.