MIRA INFORM REPORT

Report Date :

16.01.2013

IDENTIFICATION DETAILS

Name :	MISTRAL SOLUTIONS PRIVATE LIMITED [w.e.f 29.10.2007]
Formerly Known As :	MISTRAL SOFTWARE PRIVATE LIMITED
Registered Office :	#60, Adarsh Regent, 100 Feet Ring Road, Domlur, Bangalore – 560071, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.05.1999
Com. Reg. No.:	08-025232
Capital Investment / Paid-up Capital :	Rs.22.439 Millions
CIN No.: [Company Identification No.]	U72200KA1999PTC025232
Legal Form :	Private Limited Liability Company
Line of Business :	Providing end-to-end solutions for product design and application deployment.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (36)

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

Maximum Credit Limit :	USD 1880000
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 department. As per previous year’s record, the company performance seems to be good. Financially appears to be strong. Trade relations are reported to be fair. Business is active. Payments are unknown. The company can be considered for business dealings with slight 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 Office / Headquarters :	# 60, Adarsh Regent, 100 Feet Ring Road, Domlur, Bangalore – 560071, Karnataka, India
Tel. No.:	91-80-30912600
Fax No.:	91-80-25356440
E-Mail :	bala@mistralsolutions.com info@mistralsolutions.com
Website :	www.mistralsolutiions.com
USA Headquarters :	4633, Old Ironsides Drive, Suite 410, Santa Clara, CA – 95054
Tel. No.:	+1-408-705-2240/987-9660
Fax No.:	+1-408-987-9665
E-Mail :	us_west@mistralsolutions.com
Regional Office - Hyderabad :	12-13-668/4, Plot No.9, Nagarjuna Nagar, Tarnaka, Hyderabad- 500017, Andhra Pradesh, India
Tel. No.:	91-40-42006419/40210834/40210835/42203552
Fax No.:	91-40-42203552
E-Mail :	hyd@mistralsolutions.com
Regional Office - Delhi :	412, E Block, International Trade Towers, Nehru Place, New Delhi 110019, India
Tel. No.:	91-11-41637132
Fax No.:	91-11-41637131
E-Mail :	delhi@mistralsolutions.com

DIRECTORS

AS ON 27.09.2012

Name :

Mr. Syed Moktar Ahmed

Designation :

Managing Director

Address :

No.52/1, Bangiappa Garden, 3^rd Cross, Shanti Nagar, Bangalore – 560027, Karnataka, India

Date of Birth/Age :

10.02.1967

Date of Appointment :

25.05.1999

Din No.:

00225648

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	U72200KA1997PTC022685	MISTRAL SOLUTIONS PRIVATE LIMITED	Managing director	22/08/1997	22/08/1997	-	Amalgamated	NO
2	U72200KA1999PTC025232	MISTRAL SOLUTIONS PRIVATE LIMITED	Managing director	25/05/1999	25/05/1999	-	Active	NO
3	U72900KA2008PTC046595	EXORA TECHNOLOGIES PRIVATE LIMITED	Director	29/05/2008	29/05/2008	26/07/2010	Active	NO
4	U72211KA2010PTC056180	AERO ELECTRONICS PRIVATE LIMITED	Director	08/12/2010	08/12/2010	-	Active	NO

Name :

Mr. Mujahid Mokhtar Alam

Designation :

Director

Address :

No. 56, 12^th Main BTM 1^st Stage, Bangalore – 560029, Karnataka , India

Date of Birth/Age :

11.12.1972

Date of Appointment :

15.04.2009

Din No.:

02651595

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	U72200KA1999PTC025232	MISTRAL SOLUTIONS PRIVATE LIMITED	Director	05/08/2009	15/04/2009	Active	NO

Name :

Mr. Sandeep Shiamsunder Singhal

Designation :

Additional Director

Address :

Flat No. 16, Konark Express, Dr. E. Moses Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/Age :

21.10.1966

Date of Appointment :

19.01.2010

Din No.:

00422796

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	U73900MH1998PTC116053	NETMAGIC SOLUTIONS PRIVATE LIMITED	Director	09/07/2001	09/07/2001	-	Active	NO
2	U72300MH2000PTC124984	SYSTIME GLOBAL SOLUTIONS PRIVATE LIMITED	Director	27/07/2001	27/07/2001	01/12/2008	Active	NO
3	U72200MH1999PTC123007	EVENTURES INDIA PRIVATE LIMITED	Director	27/07/2001	27/07/2001	-	Active	NO
4	U74300MH2000PTC126354	IGNITEE DIGITAL SOLUTIONS PRIVATE LIMITED	Director	30/11/2011	13/08/2001	-	Active	NO
5	U74300MH1999PTC120140	CONTESTS2WIN COM INDIA PRIVATE LIMITED	Nominee director	29/09/2001	29/09/2001	-	Active	NO
6	U74140MH2001PTC133168	MEDUSIND SOLUTIONS INDIA PRIVATE LIMITED	Director	27/09/2006	20/04/2006	-	Active	NO
7	U51395MH2003PTC142173	MOBILE2WIN INDIA PRIVATE LIMITED	Director	23/06/2006	23/06/2006	-	Active	NO
8	U65999MH2007PTC167234	NEXUS INDIA CAPITAL ADVISORS PRIVATE LIMITED	Managing director	12/08/2008	24/01/2007	-	Active	NO
9	U51220MH2004PTC145857	SUMINTER INDIA ORGANICS PRIVATE LIMITED	Director	04/12/2007	04/12/2007	-	Active	NO
10	U74300MH2005PTC150598	MEDIA2WIN INDIA PRIVATE LIMITED	Nominee director	30/06/2008	30/06/2008	11/04/2012	Active	NO
11	U72200MH2006PTC160596	GAMES2WIN INDIA PRIVATE LIMITED	Nominee director	30/06/2008	30/06/2008	11/04/2012	Active	NO
12	U72200KA2004PTC034432	EKA SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	17/03/2009	17/03/2009	-	Active	NO
13	U72200AP1996PTC024351	DECCAN HEALTH CARE PRIVATE LIMITED	Director	29/09/2009	10/07/2009	-	Active	NO
14	U72200KA1999PTC025232	MISTRAL SOLUTIONS PRIVATE LIMITED	Director	26/08/2010	19/01/2010	-	Active	NO
15	U74999DL2003PTC122939	NORTH END FOODS MARKETING PRIVATE LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO
16	U93090DL2009PTC193172	SOHAN LAL COMMODITY MANAGEMENT PRIVATE LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO
17	U41000MH2010FTC208464	JALDHARA TECHNOLOGIES PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
18	U29253MH2007PTC172479	SEDEMAC MECHATRONICS PRIVATE LIMITED	Director	30/09/2011	10/06/2011	-	Active	NO
19	U36109GJ2011PTC063731	KRIBHA HANDICRAFTS PRIVATE LIMITED	Director	05/08/2011	05/08/2011	-	Active	NO
20	U65993TN1980PTC008184	BEE PEE JAIN FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	28/06/2012	13/08/2011	-	Active	NO

Name :

Mr. Rajeev Ramachandra

Designation :

Whole Time Director

Address :

No. 3373/A, H.A.L. 2^nd Stage, Bangalore-560038, Karnataka, India

Date of Birth/Age :

31.05.1966

Date of Appointment :

25.05.1999

Din No.:

00178796

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	U72200KA1997PTC022685	MISTRAL SOLUTIONS PRIVATE LIMITED	Whole-time director	22/08/1997	22/08/1997	Amalgamated	NO
2	U72200KA1999PTC025232	MISTRAL SOLUTIONS PRIVATE LIMITED	Whole-time director	25/05/1999	25/05/1999	Active	NO
3	U72211KA2010PTC056180	AERO ELECTRONICS PRIVATE LIMITED	Director	08/12/2010	08/12/2010	Active	NO

Name :

Mr. Ravi Murlimanohar

Designation :

Director

Address :

18 St. Michael’s Road, # 02-03, Singapore-327977

Date of Birth/Age :

18.04.1980

Date of Appointment :

03.05.2011

Din No.:

03190176

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	U72900DL2006PTC187706	VRITI INFOCOM PRIVATE LIMITED	Nominee director	13/08/2010	13/08/2010	Active	NO
2	U32200MH1999PLC121164	MICROQUAL TECHNO LIMITED	Nominee director	31/03/2011	31/03/2011	Active	NO
3	U72200KA1999PTC025232	MISTRAL SOLUTIONS PRIVATE LIMITED	Director	29/09/2011	03/05/2011	Active	NO
4	U72200KA2006PTC041328	CUSTOMERXPS SOFTWARE PRIVATE LIMITED	Director	28/09/2011	13/06/2011	Active	NO
5	U85110KA1993PTC015018	SI2 MICROSYSTEMS PRIVATE LIMITED	Nominee director	14/02/2012	14/02/2012	Active	NO
6	U72900MH2002PTC134544	APNAPAISA PRIVATE LIMITED	Director	26/09/2012	17/04/2012	Active	NO

Name :

Mr. Sanjay Virnave

Designation :

Director

Address :

52, Vaswani Whispering Palms, Opposite VIMS Hospital, Marathahalli, Bangalore-560037, Karnataka, India

Date of Birth/Age :

27.03.1961

Date of Appointment :

29.09.2011

Din No.:

03642630

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 27.09.2012

NOTE: SHAREHOLDING DETAILS FILE ATTACHED.

AS ON 27.09.2012

Equity Share Breakup	Percentage of Holding
Category
Venture Capital	20.81
Directors or relatives of directors	37.76
Other top fifty shareholders	29.06
Others	12.37
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Providing end-to-end solutions for product design and application deployment.

Products :

Product/ Services Descriptions	Item Code No.
Computer Hardware/ Software Development	852490

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ING Vysya Bank Limited, 2006, 100 Feet Road, Hal ll Stage, Indiranagar, Bangalore-560038, Karnataka, India

· Axis Bank Limited, Corporate Banking Branch, Express Building, 2^nd Floor, No. 1, Queen’s Road, Bangalore-560001, Karnataka, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
From Banks: Term Loan (Repayable within one year Rs. 0.880 Million)		1.033
Cash Credit and Packing Credit	3.825	18.321
Interest Accrued and due thereon		0.169
From Financial Solutions: Term Loan (Repayable within one year Rs. 0.424 Million)		1.031
TOTAL	3.825	20.554
NOTES: 1) Secured by hypothecation of fixed assets purchased out of the term loan 2) Secured by hypothecation of stock, book debts and collateral security of fixed deposits

Banking Relations :	--
Auditors :
Name :	BSR and Company Chartered Accountants
Address :	Maruthi Infotech Centre, 11-12/1, Inner Ring Road, Kormangala, Bangalore-560071, Karnataka, India
PAN No:	AAIFB0630K
Associates/Subsidiaries :	· Aero Electronics Private Limited [U72211KA2010PTC056180] · Mistral Solutions Inc

CAPITAL STRUCTURE

AS ON 27.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.5/- each	Rs.30.000 Millions
1000000	Preferences Shares	Rs.5/- each	Rs.5.000 Millions
	TOTAL		Rs.35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3993916	Equity Shares	Rs.5/- each	Rs.19.970 Millions
515172	Preferences Shares	Rs.5/- each	Rs.2.575 Millions
	TOTAL		Rs.22.545 Millions

AS ON 31.03.2011

Authorised Capital : Rs. 35.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.22.439 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		22.439	22.263	22.251
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		449.941	417.747	408.783
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		472.380	442.365	433.284
LOAN FUNDS
1] Secured Loans		3.825	20.554	29.285
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		3.825	20.554	29.285
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
STOCK OPTIONS OUTSTANDING		4.468	2.355	2.250
TOTAL		480.673	462.919	462.569
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		29.908	22.600	31.296
Capital work-in-progress		1.137	0.000	0.000
INVESTMENT		85.577	32.711	32.711
DEFERREX TAX ASSETS		20.461	21.558	13.737
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8.513	12.830	21.302
	Sundry Debtors	303.677	228.759	347.300
	Cash & Bank Balances	192.724	225.515	208.675
	Other Current Assets	11.624	16.843	23.364
	Loans & Advances	68.110	30.956	16.205
Total Current Assets		584.648	514.903	616.846
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		30.138	127.571
	Other Current Liabilities	210.814	77.503	88.117
	Provisions	30.244	21.212	16.335
Total Current Liabilities		241.058	128.853	232.023
Net Current Assets		343.590	386.050	384.825
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		480.673	462.919	462.569

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL (A)	734.071	503.297	649.319
Less	EXPENSES
		TOTAL (B)	679.134	478.114	582.672
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		54.937	25.183	66.647
Less	FINANCIAL EXPENSES (D)		4.683	5.606	2.646
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		50.254	19.577	64.001
Less/ Add	DEPRECIATION/ AMORTISATION (F)		12.264	14.402	14.226
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		37.990	5.175	49.775
Less	TAX (H)		6.439	(3.621)	2.468
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		31.551	8.796	47.307
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		165.133	156.337	109.029
	BALANCE CARRIED TO THE B/S		196.684	165.133	156.336
	EARNINGS IN FOREIGN CURRENCY
		Professional Services and IP Sates	206.770	189.735	310.986
		Product Sales and Services	114.184	64.754	0.000
		System Engineering Sales	0.841	0.000	0.000
		Commission Income	60.578	18.321	9.964
		Income from Support Services	9.481	4.620	5.618
	TOTAL EARNINGS		391.854	277.430	326.568
	IMPORTS
		Components, Hardware and Software	NA	133.363	246.364
		Capital Goods	NA	1.771	1.939
	TOTAL IMPORTS		NA	135.134	248.303
	Earnings / (Loss) Per Share (Rs.)
	Basic		7.62	2.04	10.92
	Diluted		7.54	2.01	10.77

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.30	1.75	7.29
Return on Total Assets (PBT/Total Assets}	(%)	6.18	0.96	9.26
Return on Investment (ROI) (PBT/Networth)		0.08	0.01	0.12
Debt Equity Ratio (Total Liability/Networth)		0.52	0.34	0.60
Current Ratio (Current Asset/Current Liability)		2.43	4.00	2.66

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	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]	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

BUSINESS PERFORMANCE:

Business performance of the company has improved considerably during the year. They overcame the challenges of the previous year and are now in a very good position of strength and growth. Total revenue has increased to Rs. 734.071 Millions from Rs. 503.297 Millions in the previous year – an increase of 45.85%. The operating profit of the company has increased to Rs. 54.937 Millions from Rs. 25.183 Millions during the year - an increase of 118.15%. The Directors have made all the efforts to further enhance the business performance of the company during current financial year.

FUTURE OUTLOOK:

Their current order book is very healthy and they are looking forward to continue the growth story. Their business is well balanced between India and International Market, Lowering their risk to Global Trends. They continue to look forward to support in the year to come.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U72200KA1999PTC025232
Name of the company	MISTRAL SOLUTIONS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	# 60, Adarsh Regent, 100 Feet Ring Road, Domlur, Bangalore – 560071, Karnataka, India
Type of charge	Book Debts Movable Property [not being pledge] Floating Charge
Particular of charge holder	Axis Bank Limited, Corporate Banking Branch, Express Building, 2^nd Floor, No. 1, Queen’s Road, Bangalore-560001, Karnataka, India Email: dileep.mathew@axisbank.com
Nature of description of the instrument creating or modifying the charge	Composite Hypothecation Deed (Current assets, Movables, Plant and Machinery)
Date of instrument Creating the charge	22.06.2012
Amount secured by the charge	Rs.120.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC - Base Rate + 3.00%, Currently at 13.00% p.a Subject to revision from time to time. EPC/PCFC/FBP/FBD/EBRD - As applicable to Export Finance as detailed in sanction Terms of Repayment CC - Running account repayable on demand LC(Inland/ import) - Inland LC - Maximum Usance upto 90 days Import LC - Maximum Usance upto 180 Days Other limits - as per terms and conditions of sanction Margin CC - Stock: 25% Book debts (Cover period 90 Days): 25% LC: Cash Margin - Nil BG: Cash Margin - Nil (100% cash margin incase of disputed liabilities) Other limits - as per terms and conditions of sanction Extent and Operation of the charge The charge shall operate to the extent of the loan amount plus interest commission costs expenses and other charges thereon Others The said amount of Rs.120.000 Millions comprises CC Rs.60.000 Millions (EPC/PCFC/FBP/FBD/EBRD of Rs 60.000 Millions sub limit of CC) and LC/ Buyers credit limit of Rs 60.000 Millions (BG of Rs 60.000 Millions sub limit of LC)
Short particulars of the property charged	Pari passu first charge with ING Vysya Bank Limited on the entire current Assets of the company present and future and entire fixed assets of the company present and future excluding motor vehicles financed by other banks.

FIXED ASSETS:

Intangible Assets:

• Product Development Cost
• Computer Software

Tangible Assets:

• Leasehold Improvement
• Computer Systems
• Plant and Machinery
• Office Equipment
• Furniture and Fixture
• Motor 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 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.54.54
UK Pound	1	Rs.87.69
Euro	1	Rs.72.85

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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
TOTAL		36

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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