MIRA INFORM REPORT

Report Date :

27.07.2013

IDENTIFICATION DETAILS

Name :	DOZCO (INDIA) PRIVATE LIMITED
Registered Office :	6, Waterloo Street, 3^rd Floor, Room No. 309, Kolkata – 700069, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	30.03.1992
Com. Reg. No.:	21-054998
Capital Investment / Paid-up Capital :	Rs. 23.153 Millions
CIN No.: [Company Identification No.]	U29130WB1992PTC054998
TAN No.: [Tax Deduction & Collection Account No.]	CALD01356F / CAHD04029E
PAN No.: [Permanent Account No.]	AABCD0776E
Legal Form :	Private Limited Liability Company
Line of Business :	Importer, Exporter and Distributors of all types of Heavy Earth Moving and Construction Machinery Spare Parts.
No. of Employees :	375 [In office : 150 and In Branch 225]

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 2953000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a part of “DOZCO GROUP”. It 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 for normal 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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Bank Facilities = BB+ (Suspended)
Rating Explanation	Moderate risk of default
Date	04.01.2013

Rating Agency Name	CARE
Rating	Short Term Bank Facilities = A4+ (Suspended)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	04.01.2013

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 :	6, Waterloo Street, 3^rd Floor, Room No. 309, Kolkata – 700069, West Bengal, India
Tel. No.:	91-33-22489809/ 2082/ 22101930/ 22482082/ 22305943/ 40066560
Fax No.:	91-33-22480604
E-Mail :	kolkata@dozco.com opbangur@dozco.com mailto:dozkkbms@md3.vsnl.net.in mailto:ngbdozco@cal3.vsnl.net.in
Website :	http://www.dozco.com
Area :	1000 sq. ft.
Location :	(Owned) Industrial area
Corporate Office :	Plot No. 243, Block D, Industrial Development Area, Auto Nagar, Visakhapatnam – 530012, Andhra Pradesh, India
Tel. No.:	91-891-2769681
Fax No.:	91-891-2769687
E-Mail :	vizag@dozco.com
Area :	11150 sq. Mtr.
Location :	Owned
Branch Office :	Located At · New Delhi · Guwahati · Udaipur · Dhanbad · Ahmedabad · Satna · Mumbai · Raipur · Bilaspur · Nagpur · Barbil · Bhubaneshwar · Hyderabad · Bangalore · Chennai

DIRECTORS

As on 29.09.2012

Name :

Mr. Radhe Shyam Bangur

Designation :

Whole Time Director

Address :

A- 32, Minocha Colony, Mungeli Road, Bilaspur - 495001, Chattisgarh, India

Date of Birth/Age :

21.01.1952

Date of Appointment :

30.03.1992

PAN No.:

ACJPB8023D

DIN No.:

00120097

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	U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	Whole-time director	02/04/1990	02/04/1990	-	Amalgamated	NO
2	U29130WB1992PTC054998	DOZCO (INDIA) PRIVATE LIMITED	Whole-time director	30/03/1992	30/03/1992	-	Active	NO
3	U51909WB1992PTC056527	GCB FINVEST PRIVATE LIMITED	Whole-time director	04/09/1992	04/09/1992	-	Active	NO
4	U71220WB2006PTC109476	DOZCO INFRATECH PRIVATE LIMITED	Whole-time director	19/05/2006	19/05/2006	-	Active	NO

Name :

Mr. Shiv Kumar Bangur

Designation :

Director

Address :

303, Amarjyoti Palace, Lokmat Square, Nagpur – 440012, Maharashtra, India

Date of Birth/Age :

19.02.1954

Date of Appointment :

01.04.1994

PAN No.:

ACVPB5055F

DIN No.:

00120871

Name :

Mr. Om Prakash Bangur

Designation :

Whole time Director

Address :

Darpan 50-A, Purna Das Road, 3^rd Floor, Kolkata – 700029, West Bengal, India

Date of Birth/Age :

14.02.1957

Qualification :

B. Com, ACA

Date of Appointment :

03.03.1992

PAN No.:

AELPB3441H

DIN No.:

00091652

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	U29130WB1992PTC054998	DOZCO (INDIA) PRIVATE LIMITED	Whole-time director	30/03/1992	30/03/1992	-	Active	NO
2	U51909WB1992PTC056527	GCB FINVEST PRIVATE LIMITED	Whole-time director	04/09/1992	04/09/1992	-	Active	NO
3	U71220WB2006PTC109476	DOZCO INFRATECH PRIVATE LIMITED	Whole-time director	19/05/2006	19/05/2006	-	Active	NO
4	U70109WB1995PTC068174	SAMSUNG PROPERTIES PRIVATE LIMITED	Director	01/08/2006	01/08/2006	-	Active	NO
5	U74950WB1993PTC060732	M G B COMMERCIAL PRIVATE LIMITED	Director	03/10/2006	03/10/2006	-	Active	NO
6	U65921WB1994PTC151636	SINGH FINVEST PRIVATE LIMITED	Director	01/09/2011	01/09/2011	-	Active	NO
7	U52201WB1994PTC064706	SILKINA COMMODEAL PRIVATE LIMITED	Director	22/10/2011	22/10/2011	-	Active	NO
8	U70109WB2012PTC172466	DOZCO-PMAX INFRA (INDIA) PRIVATE LIMITED	Director	18/01/2012	18/01/2012	-	Active	NO

Name :

Mr. Ramesh Kumar Bangur

Designation :

Director

Address :

Plot No.243, D-Block, Industrial Development Area, Auto Nagar, Vishakhapatabam – 530012, Andhra Pradesh, India

Date of Birth/Age :

10.12.1958

Qualification :

B. COM.

Date of Appointment :

30.03.1992

PAN No.:

ACJPB8853D

DIN No.:

00241628

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	U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	Whole-time director	02/04/1990	02/04/1990	-	Amalgamated	NO
2	U29130WB1992PTC054998	DOZCO (INDIA) PRIVATE LIMITED	Whole-time director	30/03/1992	30/03/1992	-	Active	NO
3	U70102AP2005PTC047122	RADIANT DEVELOPERS PRIVATE LIMITED	Director	30/09/2010	15/07/2010	-	Active	NO

Name :

Mr. Nand Gopal Bangur

Designation :

Director

Address :

Plot No.243, D-Block, Industrial Development Area, Auto Nagar, Vishakhapatabam – 530012, Andhra Pradesh, India

Date of Birth/Age :

06.05.1964

Qualification :

M. Tech.

Date of Appointment :

30.03.1992

PAN No.:

ACVPB5237H

DIN No.:

00241593

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	U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	Whole-time director	02/04/1990	02/04/1990	-	Amalgamated	NO
2	U29130WB1992PTC054998	DOZCO (INDIA) PRIVATE LIMITED	Whole-time director	30/03/1992	30/03/1992	-	Active	NO
3	U71220WB2006PTC109476	DOZCO INFRATECH PRIVATE LIMITED	Whole-time director	19/05/2006	19/05/2006	-	Active	NO
4	U70102AP2005PTC047122	RADIANT DEVELOPERS PRIVATE LIMITED	Director	30/09/2010	15/07/2010	-	Active	NO
5	U70109WB1995PTC068174	SAMSUNG PROPERTIES PRIVATE LIMITED	Director	30/09/2011	01/10/2010	-	Active	NO
6	U70109WB2012PTC172466	DOZCO-PMAX INFRA (INDIA) PRIVATE LIMITED	Director	18/01/2012	18/01/2012	-	Active	NO
7	U29248AP2012PTC084481	TAIHEIYO SEIKI (INDIA) PRIVATE LIMITED	Director	29/11/2012	29/11/2012	-	Active	NO

Name :

Mr. Kamal Kishore Bangur

Designation :

Director

Address :

248, Kilpauk Garden Road, Coral Orcheds, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

05.06.1968

Date of Appointment :

01.04.1994

PAN No.:

AAGPB6161K

DIN No.:

00091697

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	U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	Whole-time director	02/04/1990	02/04/1990	-	Amalgamated	NO
2	U29130WB1992PTC054998	DOZCO (INDIA) PRIVATE LIMITED	Whole-time director	01/04/1994	01/04/1994	-	Active	NO

MAJOR SHAREHOLDERS

As on 29.09.2012

SHAREHOLDING DETAILS FILE ATTACHED

As on 05.01.2013

Names of Alottees	No. of Shares
Silkina Commodeal Private Limited	174000
Total	174000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Bodies corporate	69.64
Directors or relatives of Directors	30.36
Total	100.00

BUSINESS DETAILS

Line of Business :

Importer, Exporter and Distributors of all types of Heavy Earth Moving and Construction Machinery Spare Parts.

Products :

ITC Number of Product	Product Description
73261910	Heavy Earthmoving and Mining Equipments
0	Repairs and Maintenance Of Heavy Earthmoving And Mining Equipments

GENERAL INFORMATION

No. of Employees :

375 [In office : 150 and In Branch 225]

Bankers :

• State Bank of India, Commercial Branch, # 43-59-54/8, 1^st Floor, Balaji Metro Chambers, Dondaparthy, Visakhapatnam– 530016, Andra Pradesh, India
• Canara Bank, 2, Brabourne Road, Calcutta - 700 001, West Bengal, India
• Canara Bank, New Market, Bank More, Dhanbad – 826001, India
• Indusind Bank, Kolkata Stock Exchange Branch, Kolkata – 700001, West Bengal, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long-term borrowings
Other Loans and Advances (Hypothecation of vehicles)	8.964	6.715
Short-term borrowings
Other Loans and Advances (Cash Credit from banks secured against stock in trade and collateral security of companies Properties and Fixed Assets. It is also backed by Personal Guarantee of Directors. Cash Credit limits are repayable on demand with interest rate 12.50 % to 14.50 %.)	486.561	135.192
Total	495.525	141.907
*Indusind Bank (Cash Credit A/C) : Rs.0.187 Million (Recd Certain Payments From Customers Against Outstanding Dues) SBI (Cash Credit A/C) : Rs.115.137 Millions ICICI Bank (Cash Credit A/C) : Rs.6.661 Millions Buyers Credit From State Bank Of India : Rs.13.580 Millions

Banking Relations :	-
Auditors :
Name :	R. K. Periwal and Company Chartered Accountants
Address :	165/1, Sarda Pally Sector 2 , Makhla, Hooghly – 712245, West Bangal, India
Pan no.:	AFNPP8149K
Associates/Subsidiaries :	Dozco Rental Private Limited, India CIN No.: U71220WB2006PTC109476 PAN No.: AACCD3819M MGB Commercial Private Limited, India CIN No.: U74950WB1993PTC060732 PAN No.: AABCM7066J Samsung Properties Private Limited, India CIN No.: U70109WB1995PTC068174 PAN No.: AAECS0499L GCB Finvest Private Limited, India Beijing Excon Equipment Company Limited, China

CAPITAL STRUCTURE

After 29.09.2012

Authorised Capital: Rs. 35.000 Millions

Issued, Subscribed & Paid-up Capital: Rs. 25.803 Millions

As on 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Share	Rs.10/- each	Rs. 35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2315265	Equity Share	Rs.10/- each	Rs. 23.153 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	23.153	21.165
(b) Reserves & Surplus	714.977	595.790
(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)	738.130	616.955
(3) Non-Current Liabilities
(a) long-term borrowings	154.548	169.594
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.418	0.571
(d) long-term provisions	35.106	57.504
Total Non-current Liabilities (3)	190.072	227.669
(4) Current Liabilities
(a) Short term borrowings	592.177	189.480
(b) Trade payables	206.263	389.843
(c) Other current liabilities	96.204	101.499
(d) Short-term provisions	28.437	26.523
Total Current Liabilities (4)	923.081	707.345
TOTAL	1851.283	1551.969
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	216.088	159.564
(ii) Intangible Assets	0.551	0.551
(iii) Capital work-in-progress	6.766	25.574
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	40.154	40.154
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	66.721	92.280
(e) Other Non-current assets	26.701	26.961
Total Non-Current Assets	356.981	345.084
(2) Current assets
(a) Current investments	0.034	0.032
(b) Inventories	1041.181	660.600
(c) Trade receivables	302.440	412.084
(d) Cash and cash equivalents	126.650	113.962
(e) Short-term loans and advances	23.997	20.207
(f) Other current assets	0.000	0.000
Total Current Assets	1494.302	1206.885
TOTAL	1851.283	1551.969

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		18.018
2] Share Application Money		0.000
3] Reserves & Surplus		434.624
4] (Accumulated Losses)		0.000
NETWORTH		452.642
LOAN FUNDS
1] Secured Loans		212.648
2] Unsecured Loans		227.762
TOTAL BORROWING		440.410
DEFERRED TAX LIABILITIES		0.000
TOTAL		893.052
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		153.010
Capital work-in-progress		10.326
INVESTMENT		12.873
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	680.576
	Sundry Debtors	445.880
	Cash & Bank Balances	100.251
	Other Current Assets	0.000
	Loans & Advances	112.014
Total Current Assets		1338.721
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	466.152
	Other Current Liabilities	94.006
	Provisions	61.720
Total Current Liabilities		621.878
Net Current Assets		716.843
MISCELLANEOUS EXPENSES		0.000
TOTAL		893.052

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1492.700	1455.500	1562.200
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses	NA	NA	NA
		Advertising Expenses
		TOTAL (B)	NA	NA	NA
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		230.542	81.283	66.885
	FINANCIAL EXPENSES (D)		140.165	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		90.377	81.283	66.885
	DEPRECIATION/ AMORTISATION (F)		19.477	16.346	16.722
	PROFIT BEFORE TAX (E-F) (G)		70.900	64.937	50.163
	TAX (H)		23.809	21.571	17.051
	PROFIT AFTER TAX (G-H) (I)		47.091	43.366	33.112
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		34.023	25.608	21.712
	APPROPRIATIONS
		Proposed Dividend	4.631	4.233	3.604
		Dividend Tax	0.787	0.719	0.612
		Transfer to General Reserve	35.000	30.000	25.000
	BALANCE CARRIED TO THE B/S		40.696	34.022	25.608
	EARNINGS IN FOREIGN CURRENCY		215.021	37.906	23.823

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.15	2.98	2.12
Return on Total Assets (PBT/Total Assets}	(%)	3.93	4.37	3.36
Return on Investment (ROI) (PBT/Networth)		0.10	0.11	0.11
Debt Equity Ratio (Total Debt /Networth)		1.01	0.58	2.35
Current Ratio (Current Asset/Current Liability)		1.62	1.71	2.16

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 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	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2012	As on 31.03.2011
Long-term borrowings
Other External Commercial Borrowing	121.096	149.425
Loan and Advances from related parties	24.488	13.454
Short-term borrowings
Incorporate Borrowing	54.086	54.288
Other external commercial	51.530	0.000
Total	251.200	217.168

Note:

*Unsecured Inter corporate Loan: Rs 50.225 Millions Unsecured Loan From Relatives Of Directors : Rs. .823 Millions

**Int on Inter corporate Loans: Rs 4.064 Millions Interest on Loans Form Directors and Share Holder Rs 2.281 Millions

PERFORMANCE AND FUTURE OUTLOOK:

Year 2011-12 has been a challenging year with severe economic uncertainty in Europe, geopolitical upheaval in the Middle East coupled with the after-shocks of the financial meltdown of 2008 and 2009 due to which leading economies continuing to suffer from the resultant adverse impact on demand and margin outlook for industrial products across the world.

All these have caused an overpowering impact on our national economy too leading to slowing down of economic growth and effecting abnormal fluctuation in currency exchange rates resulting in decline in economies of scale for business houses, mainly dependent on imports.

Even under these tough times, the overall economic performance of the Company during the year was fairly satisfactory. The revenue from operations recorded an increase by 7.87% at Rs. 14.927 Millons from Rs. 13.839 Millons in the previous year. The company has achieved increase in the Profits before Tax and after Tax at Rs. 70.900 Millions and Rs. 47.091 Millions respectively during the year compared to Rs. 64.937 Millions and Rs. 43.366 Millions respectively in the previous Year recording an increase of 9.18% in profit before tax over the previous year.

They have been successful in insulating our businesses by following a prudent operating discipline and the resultant increase in the profit could be possible due to the increase in revenue from operations and cost control measures undertaken during the Year.

With Indian Governments persisting policy and effort for corrective measures with thrust on industrialization and infrastructure development, the management envisage continual growth in mining, infrastructure and construction activities in the country. To capitalize on the situation, the company is continuing with its focus on expansion in range and scope to provide widespread service to the sector by concluding new arrangements and tie ups for sales and distributions of new equipments and spares with high Brand value and during the year the Management has opened three new branches at strategic location in Cochin, Barhi and Raipur and a sales office at Kota taking the total Branch and Sales outfit network to 21 in the country.

Looking at the growing business opportunity in the infrastructure and construction sector with thrust in the government policy on industrialization and infrastructure development, the company, for further strengthening the foundation and its presence in the sector, is planning to enter into manufacturing as the future growth engine and to begin with, in a modest way, going ahead for establishing the manufacturing facilities of rock breakers, Undercarriage i.e. Track Chains for Construction, Mining and Material Handling equipment in Visakhapatnam. For implementing manufacturing ventures, the company has already obtained allotment of land from APIIC. These would provide encouraging opportunity for future growth.

Note:

Due to some type error in the Director Report of the subject, which was filled with the Government Department, the figures mention in lacs. However, the management conformed that the financial are not in lacs but in crores.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured Rs. In Millions	Charge Holder	Address	Service Request Number (SRN)
1	10317743	15/11/2011	80.000	State Bank of India	Commercial Branch, # 43-59-54/8, 1^st Floor, Balaji Metro Chambers, Dondaparthy, Visakhapatnam – 530016, Andra Pradesh, India	B25341447
2	90252233	17/02/2005 *	135.000	STATE BANK OF INDIA	Overseas Branch, 9-1-57 Gnt Road, Visakhapatnam - 530013, Andhra Pradesh, India	-
3	90251379	13/12/2012 *	1100.000	State Bank of India (Lead Bank)	Commercial Branch, # 43-59-54/8, 1^st Floor, Balaji Metro Chambers, Dondaparthy, Visakhapatnam – 530016, Andhra Pradesh, India	B65763591

* Date of charge modification

FIXED ASSETS:

· Furniture and Fixture

· Generator

· Office Building

· Factory Building

· Land

· Plant and Equipments

· Factory Equipments

· Motor Car

· Goodwill

· Motor Vehicle

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.58.91
UK Pound	1	Rs.90.68
Euro	1	Rs.78.22

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
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	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		45

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.