MIRA INFORM REPORT

Report Date :

03.07.2013

IDENTIFICATION DETAILS

Name :	DELTA NUTRITIVES PRIVATE LIMITED
Formerly Known As :	DELTA CHEM IMPEX PRIVTE LIMITED
Registered Office :	B-312, Antop Hill Warehousing Complex, Vidyalankar College Road, Wadala (East), Mumbai-400037, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	07.11.2002
Com. Reg. No.:	11-137794
Capital Investment / Paid-up Capital :	Rs. 4.901 millions
CIN No.: [Company Identification No.]	U51397MH2002PTC137794
TAN No.: [Tax Deduction & Collection Account No.]	MUMD09817D
PAN No.: [Permanent Account No.]	AABCD6163B
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Bakery used ingredients like Bread Mixes, Chocolates, Toppings, Cake Mixes, etc.
No. of Employees :	40 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 95000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. 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.

INFORMATION PARTED BY

Name :	Mr. Sachin Patil
Designation :	Accounts Manager
Contact No.:	91-9819849687
Date :	29.06.2013

LOCATIONS

Registered / Corporate Office:	B-312, Antop Hill, Warehousing Complex, Vidyalankar College Road, Wadala (East), Mumbai-400037, Maharashtra, India
Tel No.:	91-22-67357777 / 66621093 / 66621094 / 24151094 / 24171096 / 40625353 / 24176913 / 24172610 / 24172614 / 24172813
Mobile No.:	91-9819849687 (Mr. Sachin Patil)
Fax No.:	91-22-67357700 / 24181770 / 24172241 / 24127810 / 24172813
E mail:	deltachem@vsnl.com info@deltanutritives.com mukesh.shah@anmalliance.com sachin.patil@deltanutritives.com
Website :	www.deltanutritives.com
Area :	500 sq.ft.
Location :	Owned

DIRECTORS

As on 29.09.2012

Name :

Mr. Rajesh Indulal Sanghvi

Designation :

Director

Address :

C-701, Lloyd Estate, Salt Pan Road, Sangam Nagar, Mumbai- 400037, Maharashtra, India

Date of Birth/Age :

23.09.1960

Qualification :

B.E.

Date of Appointment :

07.11.2002

DIN No.:

00537998

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	U51397MH2002PTC137794	DELTA NUTRITIVES PRIVATE LIMITED	Director	07-11-02	07-11-02	-	Active	NO
2	U15315DL2006PTC151586	CONFLUENCE FOODS PRIVATE LIMITED	Director	09-08-07	09-08-07	17-05-10	Active	NO

Name :

Mr. Prakash Indulal Sanghvi

Designation :

Director

Address :

40/10, Upendra, Sewree Wadala Road, King Circle, Mumbai-400019, Maharashtra, India

Date of Birth/Age :

12.03.1963

Qualification :

B.Com.

Date of Appointment :

07.11.2002

DIN No.:

00537983

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	U51397MH2002PTC137794	DELTA NUTRITIVES PRIVATE LIMITED	Director	07-11-02	07-11-02	-	Active	NO
2	U15315DL2006PTC151586	CONFLUENCE FOODS PRIVATE LIMITED	Director	09-08-07	09-08-07	17-05-10	Active	NO
3	U15209MH2008PTC185107	DEL ENTERPRISES PRIVATE LIMITED	Director	25-07-08	25-07-08	20-03-09	Active	NO

Name :

Ms. Kinnari Manish Mehta

Designation :

Director

Address :

521/A R P Manasi Road, 1^st Floor, Matunga, Mumbai-400019, Maharashtra, India

Date of Birth/Age :

10.11.1968

Date of Appointment :

22.11.2007

DIN No.:

00232552

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	U52311MH2000PLC129256	AMKETTE ANALYTICS LIMITED	Director	27-10-00	27-10-00	-	Active	NO
2	U74220MH2002PTC134721	GEOFLUID PROCESSORS PRIVATE LIMITED	Director	29-01-02	29-01-02	22-10-11	Active	NO
3	U70100MH2002PTC135270	DAMAYANTI MEHTA PROPERTIES PRIVATE LIMITED	Director	22-03-02	22-03-02	-	Active	NO
4	U70100MH2002PTC135355	KISHORE MEHTA PROPERTIES PRIVATE LIMITED	Director	01-04-02	01-04-02	-	Active	NO
5	U74999MH2002PTC136521	SUNJAY BIOTECH SOLUTIONS PRIVATE LIMITED	Director	16-07-02	16-07-02	-	Amalgamated	NO
6	U51397MH2002PTC137794	DELTA NUTRITIVES PRIVATE LIMITED	Director	22-11-07	07-11-02	-	Active	NO
7	U51507MH2003PTC139724	LOGAN INSTRUMENTS INDIA PRIVATE LIMITED	Director	26-03-03	26-03-03	-	Strike off	NO
8	U51909MH2003PTC141701	ANM ALLIANCE -TRADE PRIVATE LIMITED	Director	11-08-03	11-08-03	-	Active	NO
9	U33125MH2006PTC165501	S M BIOSCIENCE PRIVATE LIMITED	Director	13-11-06	13-11-06	-	Strike off	NO
10	U51224MH2008PTC185543	COCO AND MORE CHOCOLATES PRIVATE LIMITED	Director	20-06-09	20-06-09	-	Active	NO
11	U33112MH2010PTC202449	ANM INDUSTRIES PRIVATE LIMITED	Director	27-04-10	27-04-10	-	Active	NO
12	AAB-1154	SYNERGY TECHNO SUPPORT AND SOLUTIONS LLP	Designated Partner	12-09-12	12-09-12	-	Active	NO

Name :

Ms. Preeti Sanjay Mehta

Designation :

Director

Address :

521/A R P Manasi Road, 1^st Floor, Matunga, Mumbai-400019, Maharashtra, India

Date of Birth/Age :

03.11.1972

Date of Appointment :

22.11.2007

DIN No.:

00232598

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	U52311MH2000PLC129256	AMKETTE ANALYTICS LIMITED	Director	19-10-00	19-10-00	-	Active	NO
2	U74220MH2002PTC134721	GEOFLUID PROCESSORS PRIVATE LIMITED	Director	29-01-02	29-01-02	22-10-11	Active	NO
3	U74999MH2002PTC136521	SUNJAY BIOTECH SOLUTIONS PRIVATE LIMITED	Director	16-07-02	16-07-02	-	Amalgamated	NO
4	U51397MH2002PTC137794	DELTA NUTRITIVES PRIVATE LIMITED	Director	22-11-07	07-11-02	-	Active	NO
5	U51507MH2003PTC139724	LOGAN INSTRUMENTS INDIA PRIVATE LIMITED	Director	26-03-03	26-03-03	-	Strike off	NO
6	U51909MH2003PTC141701	ANM ALLIANCE -TRADE PRIVATE LIMITED	Director	11-08-03	11-08-03	-	Active	NO
7	U33125MH2006PTC165501	S M BIOSCIENCE PRIVATE LIMITED	Director	13-11-06	13-11-06	-	Strike off	NO
8	U51224MH2008PTC185543	COCO AND MORE CHOCOLATES PRIVATE LIMITED	Director	20-06-09	20-06-09	-	Active	NO
9	U33112MH2010PTC202449	ANM INDUSTRIES PRIVATE LIMITED	Director	27-04-10	27-04-10	-	Active	NO
10	AAB-1154	SYNERGY TECHNO SUPPORT AND SOLUTIONS LLP	Designated Partner	12-09-12	12-09-12	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sachin Patil
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Prakash I. Sanghvi	122503
Rajesh I. Sanghvi	122503
Kinnari M. Mehta	122503
Preeti S. Mehta	122503
Bharati N. Gadhvi	1
Rajendra R Shah	1
Manali B Shah	1
Shailesh Ramniklal Shah	1
Pravina Shashikant Vasa	1
Harshad A Patni	1
Harshad B. Vadhani	1
Manjula Natha	1
Naresh B.Nawale	1
Niranjan Promodchandra Shah	1
Paras Rajendra Shah	1

Allottees as on 01.03.2013

Names of Allottees	No. of Shares
Prakash Indulal Sanghvi	50000
Rajesh Indulal Sanghvi	50000
Kinnari Manish Mehta	50000
Priti Sanjay Mehta	50000
Total	200000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Bakery used ingredients like Bread Mixes, Chocolates, Toppings, Cake Mixes, etc.
Imports :
Products :	Chocolates
Countries :	ô Belgium ô Italy ô Singapore
Terms :
Selling :	Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Suppliers :

· Puratos Food Ingredients India Private Limited

A B Graphics

A.S. Enterprises

Abirami Enterprise

Aster Communications

Dev International

R L Enterprises

Heena Enterprises

Interior Today Exhibition Private Limited

Ishwar Cargo Forwarders (Private) Limited

Paradise Apiary Farm

Customers :

End Users

· Chhaya and Company

Danish Food Private Limited

Abirami Enterprises

Anand Sales

B.S. Foods

Chhaya and Company

Drums Foods International

High Growth Associates

Kiran Trader

Maa Enterprises

Pinal Naturals

No. of Employees :

40 (Approximately)

Bankers :

· Vijaya Bank Chira Bazar Branch, Mumbai - 400002, Maharashtra, India

HDFC Bank Limited

ICICI Bank Limited

Barclays Bank PLC

Citi Bank

The Shamrao Vithal Co-operative Bank Limited, 8/1, Saraswat Colony, Talmaki Road, Off Linking Road, Santacruz (West), Mumbai - 400054, Maharashtra, India

Tel. No.: 91-22-66999888

Facilities :

Cash Credit : Rs. 57.000 millions (From The Shamrao Vithal Co-operative Bank Limited)

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long Term Borrowing
HDFC Bank Limited	0.695	0.000
The Shamrao Vithal Co-Operative Bank Limited – Term Loan	3.025	0.000
Total	3.720	0.000

Banking Relations :	--
Financial Institution :	· Reliance Capital Limited Future Capital Holding Limited GE Money Financial Services Limited Bajaj Auto Finance Limited
Auditors :
Name :	Bhuva and Kanakia Chartered Accountants
Address :	1, Alankar, Ground Floor, 251, Sion Main Road, Sion (West), Mumbai- 400022, Maharashtra, India
Tel. No.:	91-22-24070092 / 24070093
Fax No.:	91-22-24097878
PAN No.:	AADFB5164F

CAPITAL STRUCTURE

After 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
690060	Equity Shares	Rs.10/- each	Rs. 6.901 Millions

As on 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
490060	Equity Shares	Rs.10/- each	Rs. 4.901 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	4.901	4.901
(b) Reserves & Surplus	18.752	12.480
(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)	23.653	17.381
(3) Non-Current Liabilities
(a) long-term borrowings	3.720	0.000
(b) Deferred tax liabilities (Net)	0.386	0.157
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	4.106	0.157
(4) Current Liabilities
(a) Short term borrowings	63.228	38.091
(b) Trade payables	24.899	16.952
(c) Other current liabilities	1.934	3.348
(d) Short-term provisions	2.576	2.266
Total Current Liabilities (4)	92.637	60.657
TOTAL	120.396	78.195
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	18.703	12.841
(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	0.013	0.013
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	18.716	12.854
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	50.310	31.456
(c) Trade receivables	33.971	21.576
(d) Cash and cash equivalents	1.568	2.047
(e) Short-term loans and advances	15.648	9.150
(f) Other current assets	0.183	1.112
Total Current Assets	101.680	65.341
TOTAL	120.396	78.195

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.101
2] Share Application Money		0.000
3] Reserves & Surplus		6.950
4] (Accumulated Losses)		0.000
NETWORTH		9.051
LOAN FUNDS
1] Secured Loans		0.279
2] Unsecured Loans		23.202
TOTAL BORROWING		23.481
DEFERRED TAX LIABILITIES		0.000
TOTAL		32.532
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.412
Capital work-in-progress		0.000
INVESTMENT		0.005
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	14.985
	Sundry Debtors	14.653
	Cash & Bank Balances	0.271
	Other Current Assets	10.846
	Loans & Advances	3.748
Total Current Assets		44.503
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	9.685
	Other Current Liabilities	3.120
	Provisions	1.583
Total Current Liabilities		14.388
Net Current Assets		30.115
MISCELLANEOUS EXPENSES		0.000
TOTAL		32.532

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	251.603	NA	131.678
		Other Income
		TOTAL	251.603	NA	131.678
Less	EXPENSES
		Office Expenses	242.527	NA	126.838
		Administrative Expenses
		Advertising Expenses
		TOTAL	242.527	NA	126.838
	PROFIT/ (LOSS) BEFORE TAX		9.076	NA	4.840
Less	TAX		2.805	NA	NA
	PROFIT/ (LOSS) AFTER TAX		NA	NA	NA
	Earnings / (Loss) Per Share (Rs.)		NA	NA	NA

Particulars	31.03.2013
Sales Turnover (Approximately)	317.600

Expected Sales (2012-2013): Above Rs. 350.000 Millions

The above information has been parted by Mr. Sachin Patil (Accounts Department)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	7.54	NA	10.32
Return on Investment (ROI) (PBT/Networth)		0.38	NA	0.53
Debt Equity Ratio (Total Debt/Networth)		2.83	2.19	2.59
Current Ratio (Current Asset/Current Liability)		1.10	1.08	3.09

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last four years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
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	-----
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

NOTE

The registered office of the company has been shifted from 40/10, Upendrasewree, Wadala Roaf, King Circle, Mumbai-400019, Maharashtra, India to the present address w.e.f. 19.08.2010

UNSECURED LOAN

Particulars	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
Short Term Borrowings
From Director	0.800	0.800
From Shareholders	21.015	16.115
From Bank	1.518	2.849
Bank Overdraft Balance	39.895	18.327
Total	63.228	38.091

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U51397MH2002PTC137794
Name of the company	DELTA NUTRITIVES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B-312, Antop Hill Warehousing Complex, Vidyalankar College Road, Wadala (East), Mumbai-400037, Maharashtra, India E-mail: deltachem@vsnl.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10257327
Type of charge	Immovable property Any interest in immovable property
Particular of charge holder	The Shamrao Vithal Co-operative Bank Limited, 8/1, Saraswat Colony, Talmaki Road, Off Linking Road, Santacruz (West), Mumbai - 400054, Maharashtra, India Email: legaldept@svcbank.com
Nature of instrument creating charge	Recording letter evidencing deposit of title deeds
Date of instrument Creating the charge	28.06.2012
Amount secured by the charge	Rs.61.200 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As may be decided by the bank from time to time Terms of Repayment As may be decided by the bank from time to time Margin As may be decided by bank from time to time Extent and Operation of the charge To secure due repayment of credit facilities aggregating Rs.61.200 millions, together with cost, interest, expenses and charges thereof, advanced by the Bank, to the Company. Others Total Facilities: Cash Credit - Rs.47.000 millions (enhanced by Rs.21.000 millions) TL - Rs.4.200 millions L/C - Rs.10.000 millions ------------------------------------ Total : Rs.61.200 millions From time to time, ad hoc limit in CC of Rs.5.000 millions has been cancelled. Interchangeability between Cash Credit of Rs.47.000 millions and import L/C facility to the extent of Rs.10.000 millions. Thus the total limit towards cash credit and import L/C should not exceed Rs.57.000 millions at any given point of time.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Linkage in respect of 1) Unit No.B-312, 3^rd floor, B Wing, admeas. about 500 sq.ft. built-up area, Antop Hill Warehousing Complex, VIT College Road, Wadala (East), Mumbai – 37 2) Unit No.B-239, admeas. about 568 sq.ft.built-up area B Wing, Antop Hill Warehousing Complex, VIT College Road, Wadala (East), Mumbai – 37 3)Unit bearing No.308 admeasuring 568 Sq.ft. Built Up Area ,3rd Flr. "B" Wing Antop Hill Warehousing complex, Acme company Road (Salt Pan Division) Near V.I.T. college Road, Wadala (East), Mumbai-400037
Date of instrument modifying the charge	15.09.2011
Particulars of the present modification	By this modification, Cash credit facility has been enhanced from Rs.26.000 millions to Rs.47.000 millions and Term loan has been granted for Rs.4.200 millions. Ad hoc limit of Rs.5.000 millions has been cancelled. (Interchangeability between Cash Credit of Rs.47.000 millions and Import L/C facility to the extent of Rs.10.000 millions. Thus the total limit towards cash credit and Import L/C should not exceed Rs.57.000 millions at any given point of time.). Thus the overall facilities stand modified to Rs.61.200 millions.

FIXED ASSETS

· Godown Premises

· Computer and Printer

· Electrial Equipment

· Air Conditioner

· Office Equipment

· Furniture and Fixture

· Motor Car and Delivery Van

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.59.41
UK Pound	1	Rs.90.38
Euro	1	Rs.77.61

INFORMATION DETAILS

Information Gathered by :	NYN
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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.