1. Summary Information

		Country	India
Company Name	FARIDA CLASSIC SHOES PRIVATE LIMITED	Principal Name 1	Mr. Rafeeque Ahmed Mecca
Status	Satisfactory	Principal Name 2	Mr. Iqbal Ahmed Mecca
		Registration #	18-008805
Street Address	151/ 4, Mount Poonamallee High Road, Ramapuram, Chennai – 600 009, Tamilnadu
Established Date	09.06.1981	SIC Code	--
Telephone#	91-4174-244401 / 02 / 03 / 22523866 / 22523867 / 22523868	Business Style 1	Manufacturer
Fax #	91-4147-244403 / 91-44-22523870	Business Style 2	-
Homepage	http://www.farida.co.in	Product Name 1	Leather Closed Shoes
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 5,120,000/-	Product Name 3	--
Shareholders	Bodies corporate -(100.00%)	Banking	Citibank
Public Limited Corp.	No	Business Period	32 years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (51)
Related Company
Relation	Country	Company Name	CEO
Associates	India	Aston Shoes Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	298,845,000	Current Liabilities	123,570,000
Inventories	233,233,000	Long-term Liabilities	317,443,000
Fixed Assets	152,603,000	Other Liabilities	27,557,000
Deferred Assets	0,000	Total Liabilities	468,570,000
Invest& other Assets	68,913,000	Retained Earnings	279,904,000
		Net Worth	285,024,000
Total Assets	753,594,000	Total Liab. & Equity	753,594,000
Total Assets (Previous Year)	702,032,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales (Including Other Income)	1,256,683,000	Net Profit (Before Tax)	34,084,000
Sales (Including Other Income)(Previous yr)	1,388,423,000	Net Profit(Prev.yr) (Before Tax)	22,001,000

MIRA INFORM REPORT

Report Date :

02.07.2013

IDENTIFICATION DETAILS

Name :	FARIDA CLASSIC SHOES PRIVATE LIMITED
Registered Office :	151/ 4, Mount Poonamallee High Road, Ramapuram, Chennai – 600 009, Tamilnadu
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	09.06.1981
Com. Reg. No.:	18-008805
Capital Investment / Paid-up Capital :	Rs. 5.120 Millions
CIN No.: [Company Identification No.]	U18209TN1981PTC008805
TAN No.: [Tax Deduction & Collection Account No.]	CHEF00073D
PAN No.: [Permanent Account No.]	AAACF0451B
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in as manufacturer of Leather Closed shoes, Leather Shoe Uppers and Shoe Components and Exporter of Footwear and Footwear Components.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 1140000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a subsidiary of “Farida Holdings Private Limited”. It is an established company having satisfactory track record. Profitability of the company has slightly improved during 2012. Financially the company appears to be strong and healthy. Liquidity position seems to be good. Trade relations are fair. Business is active. Payments are reported as usually correct. The company can be considered normal for 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

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 :	151/ 4, Mount Poonamallee High Road, Ramapuram, Chennai – 600 009, Tamilnadu, India
Tel. No.:	91-4174-244401 / 02 / 03 / 22523866 / 22523867 / 22523868
Mobile No.:	91-9894610643 (P. Mohammed Siddique)
Fax No.:	91-4147-244403 / 91-44-22523870
E-Mail :	holding@farida.co.in fcsgm@farida.in rafeeque@farida.in
Website :	http://www.farida.co.in
Factory :	38, Jalal Road, Vellore District, Ambur – 635 802, Tamilnadu, India

DIRECTORS

As on : 27.09.2012

Name :

Mr. Rafeeque Ahmed Mecca

Designation :

Managing Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600 034, Tamilnadu, India

Date of Birth/Age :

17.09.1947

Date of Appointment :

09.06.1981

DIN No.:

00013749

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	L85110TN1979PLC008035	APOLLO HOSPITALS ENTERPRISE LIMITED	Director	29-12-79	29-12-79	-	Active	NO
2	U18209TN1981PTC008805	FARIDA CLASSIC SHOES PRIVATE LIMITED	Managing director	09-06-81	09-06-81	-	Active	NO
3	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	19-04-85	19-04-85	-	Active	NO
4	U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Managing director	29-09-87	29-09-87	-	Active	NO
5	U73100TN1992NPL022530	INDIAN INSTITUTE OF LEATHER PRODUCTS	Director	23-04-92	23-04-92	-	Active	NO
6	U19201TN1995PTC030691	BAER SHOES (INDIA) PRIVATE LIMITED	Director	28-03-95	28-03-95	25-06-08	Active	NO
7	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Managing director	17-04-98	17-04-98	-	Active	NO
8	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Managing director	01-01-00	01-01-00	-	Active	NO
9	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19-06-01	19-06-01	-	Active	NO
10	U45203TN2001NPL047485	AMBUR ECONOMIC DEVELOPMENT ORGANISATION	Director	23-07-01	23-07-01	-	Active	NO
11	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26-05-04	26-05-04	-	Active	NO
12	U19201TN2004PTC053703	ASTON SHOES PRIVATE LIMITED	Managing director	12-07-04	12-07-04	-	Active	NO
13	U19112TN2005PTC055152	ARCOT SOLES PRIVATE LIMITED	Director	13-01-05	13-01-05	-	Active	NO
14	U74140TN2005PTC055310	FARIDA MANAGEMENT SERVICES PRIVATE LIMITED	Managing director	07-02-05	07-02-05	-	Strike off	NO
15	U74210TN2005PTC055311	FARIDA ENGINEERING SERVICES PRIVATE LIMITED	Managing director	07-02-05	07-02-05	-	Amalgamated	NO
16	U19116TN2005PTC055503	FARIDA XIEZHAN MOULDS PRIVATE LIMITED	Director	28-02-05	28-02-05	-	Amalgamated	NO
17	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11-04-05	11-04-05	-	Active	NO
18	U19116TN2005PTC056220	AADIL ASHFAQUE & CO.PRIVATE LIMITED	Director	10-05-05	10-05-05	-	Active	NO
19	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24-02-06	24-02-06	-	Active	NO
20	U93090TN1996NPL035469	INDIAN LEATHER INDUSTRY FOUNDATION	Director	05-08-06	05-08-06	-	Active	NO
21	U19201TN2004PTC053247	TOP FONDI SOLES (INDIA) PRIVATE LIMITED	Director	21-08-07	18-06-07	-	Amalgamated	NO
22	U19119TN1989PLC016997	AMBUR TANNERY EFFLUENT TREATMENT COMPANY LIMITED	Director	20-06-07	20-06-07	-	Active	NO
23	U93000TN2008NPL068574	CHENNAI ENVIRONMENTAL MANAGEMENT COMPANY OF TANNERS	Director	15-07-08	15-07-08	-	Active	NO
24	U93090TN1984NPL010934	COUNCIL FOR LEATHER EXPORTS	Additional director	18-12-10	18-12-10	-	Active	NO
25	U63090TN2011PTC080447	WESTERN GATEWAY CARGO SERVICES PRIVATE LIMITED	Director	04-05-11	04-05-11	-	Active	NO
26	U74999TN1910NPL002343	SOUTHERN INDIA CHAMBER OF COMMERCE & INDUSTRY	Director	07-09-11	07-09-11	-	Active	NO
27	U74999MH1957GOI010918	EXPORT CREDIT GUARANTEE CORPORATION OF INDIA LIMITED	Director	13-03-12	13-03-12	-	Active	NO

Name :

Mr. Iqbal Ahmed Mecca

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600 034, Tamilnadu, India

Date of Birth/Age :

10.10.1969

Date of Appointment :

01.01.2000

DIN No.:

00013788

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	U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Director	29-09-87	29-09-87	-	Active	NO
2	U19201TN1992PTC022110	RIVIERA SHOES PRIVATE LIMITED	Director	31-01-92	31-01-92	-	Strike off	NO
3	U18209TN1992PTC022111	FARIDA LEATHERWARE PRIVATE LIMITED	Director	31-01-92	31-01-92	-	Active	NO
4	U73100TN1993GAP026146	AMBUR FDDI SHOE TECHNOLOGY CENTRE	Director	03-11-93	03-11-93	-	Active	NO
5	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
6	U18209TN1981PTC008805	FARIDA CLASSIC SHOES PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
7	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11-04-05	11-04-05	-	Active	NO
8	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24-02-06	24-02-06	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 27.09.2012

Names of Shareholders	No. of Shares
Mr. Rafeeque Ahmed Mecca	1
Mr. Israr Ahmed	50
Mr. Ashfaque Ahmed	50
Farida Holdings Private Limited, India	51099
Total	51200

Equity Share Break up (Percentage of Total Equity)

As on : 27.09.2012

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in as manufacturer of Leather Closed shoes, Leather Shoe Uppers and Shoe Components and Exporter of Footwear and Footwear Components.

PRODUCTION STATUS (31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Shoes	Pairs p.a.	1000000	1000000	1239322
Shoe Uppers	Pairs p.a.	1000000	1000000

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Citibank N.A. 163, Anna Salai, Second Floor, Chennai – 600002, Tamilnadu, India

· State Bank of India – Ambur

· Axis Bank

· Indian Bank, MEPZ Branch

· Indian Bank, Harbour Branch

· Indian Overseas Bank

· HDFC Bank

Facilities :

(Rs in Millions)

SECURED LOANS	31.03.2012	31.03.2011
Loans taken for Vehicles	2.245	1.438
Total	2.245	1.438

Auditors :
Name :	Akber Rifa and Company Chartered Accountants
Address :	C8, Orchid Manor Appartment, Diwan Rama Road, Purasalkam, Chennai – 600084, Tamilnadu, India
PAN No.:	AAUFA5645D
Associates :	· Aston Shoes Private Limited, India CIN : U19201TN2004PTC053703 · Farida Shoes Private Limited, India CIN : U19119TN1976PTC007207 · Farida Prime Tannery Private Limited, India CIN : U19201TN2005PTC055925 · Jafra Insoles India Private Limited, India CIN : U19112TN2006PTC058989 · Delta Shoes Private Limited CIN : U18209TN1989PTC014919 · Arcot Sloes Private Limited, India CIN : U19112TN2005PTC055152 · Farida Leatherware Private Limited, India CIN : U18209TN1992PTC022111 · India Shoes Exports Private Limited, India CIN : U19201TN1998PTC040339
Holding Company :	Farida Holdings Private Limited, India CIN : U65993TN1985PTC011781

CAPITAL STRUCTURE

As on : 27.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs. 100/-each	Rs. 25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
51200	Equity Shares	Rs. 100/- each	Rs. 5.120 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	5.120	5.120
(b) Reserves & Surplus	279.904	254.012
(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)	285.024	259.132
(3) Non-Current Liabilities
(a) long-term borrowings	39.362	38.554
(b) Deferred tax liabilities (Net)	11.633	11.489
(c) Other long term liabilities	44.795	23.370
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	95.790	73.413
(4) Current Liabilities
(a) Short term borrowings	278.081	279.889
(b) Trade payables	71.901	77.752
(c) Other current liabilities	6.874	7.163
(d) Short-term provisions	15.924	4.683
Total Current Liabilities (4)	372.780	369.487
TOTAL	753.594	702.032
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	152.603	161.659
(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	68.913	34.067
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	29.686	15.459
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	251.202	211.185
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	233.233	189.529
(c) Trade receivables	176.653	210.336
(d) Cash and cash equivalents	4.460	8.768
(e) Short-term loans and advances	50.612	54.002
(f) Other current assets	37.434	28.212
Total Current Assets	502.392	490.847
TOTAL	753.594	702.032

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		5.120
2] Share Application Money		0.000
3] Reserves & Surplus		236.055
4] (Accumulated Losses)		0.000
NETWORTH		241.175
LOAN FUNDS
1] Secured Loans		197.458
2] Unsecured Loans		54.288
TOTAL BORROWING		251.746
DEFERRED TAX LIABILITIES		11.885
TOTAL		504.806
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		155.502
Capital work-in-progress		0.000
INVESTMENT		34.067
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	165.727
	Sundry Debtors	130.654
	Cash & Bank Balances	19.470
	Other Current Assets	13.723
	Loans & Advances	55.704
Total Current Assets		385.278
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	41.821
	Other Current Liabilities	12.146
	Provisions	16.074
Total Current Liabilities		70.041
Net Current Assets		315.237
MISCELLANEOUS EXPENSES		0.000
TOTAL		504.806

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1069.207
		Other Income	187.476
		TOTAL	1256.683	1388.423	992.203
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	1222.599	1366.422	975.516
	PROFIT BEFORE TAX		34.084	22.001	16.687
Less	TAX		NA	4.045	(7.539)
	PROFIT AFTER TAX		NA	17.956	24.226
	BALANCE CARRIED TO THE B/S		NA	43.586	NA
	EARNINGS IN FOREIGN CURRENCY		1131.918	NA	844.876
	IMPORTS
		Raw Materials	NA	NA	248.663
		Capital Goods	NA	NA	1.126
	TOTAL IMPORTS		NA	NA	249.175
	Earnings Per Share (Rs.)		NA	362.00	307.00

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	1.29	NA
Net Profit Margin (PBT/Sales)	(%)	3.19	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.98	3.29	3.09
Return on Investment (ROI) (PBT/Networth)		0.12	0.08	0.07
Debt Equity Ratio (Total Debt /Networth)		0.34	0.28	1.04
Current Ratio (Current Asset/Current Liability)		1.35	1.33	5.50

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 one 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	Yes
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 :

(Rs in Millions)

PARTICULARS	31.03.2012	31.03.2011
Term Loans from Others	37.117	37.116
Loans repayable on demand	278.081	279.889
Total	315.198	317.005

BANKERS CHARGES REPORT AS PER REGISTRY :

Corporate identity number of the company	U18209TN1981PTC008805
Name of the company	FARIDA CLASSIC SHOES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	151 / 4 Mount Poonamallee Highroad, Ramapuram, Chennai - 600 009, Tamilnadu, India E-mail: holding@farida.co.in
This form is for	Creation of charge
Charge identification (ID) number of the charge to be modified	10233245
Type of charge	Immovable Property
Particular of charge holder	Citi Bank N.A. 163, Anna Salai, Second Floor, Chennai – 600002, Tamilnadu, India E-mail: karthikeyan1.j@citi.com
Nature of instrument creating charge	Memorandum of Entry Dated 25th January 2012
Date of instrument Creating the charge	25.01.2012
Amount secured by the charge	Rs. 65.000 Million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As may be stipulated by the bank from time to time Terms of Repayment All facilities are repayable on demand Margin As agreed from time to time. Extent and Operation of the charge . Equitable Mortgage by Deposit of title deeds of properties owned by the company - 1) 3.25 acres located at Odugathur Village , Vellore District 2) Sy.No.9/2, 12/2,Khanishmari No.525, Nagavara Village, Opposite to Mosque, CMC Byatarayanapura, Banglore – 560043, Karnataka, India
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Equitable Mortgage by Deposit of title deeds of properties owned by the company. 1) 3.25 acres located at Odugathur Village , Vellore District 2) Sy.No.9/2, 12/2, Khanishmari No.525, Nagavara Village, Opposite to Mosque, CMC Byatarayanapura, Banglore - 560 043, Karnataka, India

FIXED ASSETS:

· Apartments

· Factory Building

· Computers

· Furniture and Fittings

· Land

· Guest House

· Land

· Plant and Machinery

· Cycle

· Motor Car

· Air Conditioners

· Jeep

· Auto

· Office Equipment and Others

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. 59.15
UK Pound	1	Rs. 90.05
Euro	1	Rs. 77.07

INFORMATION DETAILS

Report Prepared by :

NIS

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	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		51

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.