MIRA INFORM REPORT

Report Date :

29.07.2013

IDENTIFICATION DETAILS

Name :	SIGACHI INDUSTRIES PRIVATE LIMITED (w.e.f. 29.03.2012)
Formerly Known As :	SIGACHI CHLORO-CHEMICALS PRIVATE LIMITED
Registered Office :	229/1 and 90, 4^th Floor, Kalyans Tulsiram Chambers, Madinaguda, Hyderabad-500049, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	11.01.1989
Com. Reg. No.:	01-009497
Capital Investment / Paid-up Capital :	Rs. 8.542 Millions
CIN No.: [Company Identification No.]	U24110AP1989PTC009497
IEC No.:	0991028759
TAN No.: [Tax Deduction & Collection Account No.]	HYDS02266F
PAN No.: [Permanent Account No.]	AACCS8339R
Legal Form :	Private Limited Liability company.
Line of Business :	Manufacturer and Exporter of Microcrystalline Cellulose, Micro Cristaline Cellulose Ph-250, Filter Aide Cellulose, Chlorinated Paraffin etc.
No. of Employees :	120 (Approximately)

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 140000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual trade terms and condition.

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. P B Rao
Designation :	Admin
Contact No.:	91-40-40114874
Date :	26.07.2013

LOCATIONS

Registered Office :	229/1 and 90, 4^th Floor, Kalyans Tulsiram Chambers, Madinaguda, Hyderabad-500049, Andhra Pradesh, India
Tel. No.:	91-40-40114874 / 75 / 76
Fax No.:	91-40-40216248
E-Mail :	info@sigachi.com mktg@sigachi.com pur@sigachi.com
Website :	http://www.sigachi.com
Area :	1200 Sq. ft.
Location :	Rented
Factory :	Plot No.20, IDA, Phase –I, Pashamylaram, District Medak, India
Location :	Rented

DIRECTORS

AS ON 29.09.2012

Name :	Mr. Rabindra Prasad Sinha
Designation :	Whole Time Director
Address :	S1, Jaya Villa, Huda Heights, MLA Colony, Road No. 12, Banjara Hills, Hyderabad-500034, Andhra Pradesh, India
Date of Birth/Age :	01.09.1950
Date of Appointment :	19.01.1990
DIN No.:	00413448

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	U24110AP1989PTC009497	SIGACHI INDUSTRIES PRIVATE LIMITED	Whole-time director	01/12/2009	19/01/1990	-	Active	NO
2	L24230AP1994PLC018786	SIGACHI LABORATORIES LIMITED	Director	21/11/1994	21/11/1994	01/02/2010	Active	NO
3	U70101AP2007PTC053122	RPS PROJECTS AND DEVELOPERS PRIVATE LIMITED	Director	15/03/2007	15/03/2007	-	Active	NO
4	U24232AP2007PTC055796	SIGACHI CELLULOS PRIVATE LIMITED	Director	05/10/2007	05/10/2007	-	Active	NO
5	U24296AP2007PTC085361	SIGACHI PLASTICISERS PRIVATE LIMITED	Director	26/12/2007	26/12/2007	-	Active	NO

Name :	Mr. Chidambarnathan Shanmuganathan
Designation :	Managing Director
Address :	Plot No. 33, Bhel Extentinon Ushodaya Enclave, Madeena Guda, Hyderabad-500040, Andhra Pradesh, India
Date of Birth/Age :	10.05.1943
Date of Appointment :	30.16.1990
DIN No.:	00485497

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	U24110AP1989PTC009497	SIGACHI INDUSTRIES PRIVATE LIMITED	Managing director	01/12/2009	30/06/1990	-	Active	NO
2	U24232AP2007PTC055796	SIGACHI CELLULOS PRIVATE LIMITED	Director	05/10/2007	05/10/2007	28/02/2009	Active	NO
3	U24296AP2007PTC085361	SIGACHI PLASTICISERS PRIVATE LIMITED	Director	26/12/2007	26/12/2007	01/03/2009	Active	NO
4	U74900AP2010PTC066546	PASHAMYLARAM COMMON INFRASTRUCTURE PRIVATE LIMITED	Director	05/01/2010	05/01/2010	-	Active	NO

Name :	Mr. Amit Raj Sinha
Designation :	Director
Address :	S-1, Plot No.66, Huda Height, Mla Colony, Road No.12, Banjara Hills Hyderabad-500034, Andhra Pradesh, India
Date of Birth/Age :	18.09.1973
Date of Appointment :	01.12.2009
DIN No.:	01263292

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	U70101AP2007PTC053122	RPS PROJECTS AND DEVELOPERS PRIVATE LIMITED	Director	15/03/2007	15/03/2007	Active	NO
2	U24232AP2007PTC055796	SIGACHI CELLULOS PRIVATE LIMITED	Managing director	01/01/2010	05/10/2007	Active	NO
3	U24296AP2007PTC085361	SIGACHI PLASTICISERS PRIVATE LIMITED	Director	19/09/2009	01/03/2009	Active	NO
4	U24110AP1989PTC009497	SIGACHI INDUSTRIES PRIVATE LIMITED	Managing director	01/12/2009	01/12/2009	Active	NO

Name :	Mr. Bhavani Shanmugam Chidambaranathan
Designation :	Director
Address :	Hig-33, Phase-II, Ushodaya Enclave, Madinaguda, Rangareddi, Hyderabad-500050, Andhra Pradesh, India
Date of Birth/Age :	13.03.1984
Date of Appointment :	02.03.2010
DIN No.:	02920546

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	U24110AP1989PTC009497	SIGACHI INDUSTRIES PRIVATE LIMITED	Director	30/09/2010	02/03/2010	Active	NO

KEY EXECUTIVES

Name :	Mr. P B Rao
Designation :	Admin

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Rabindra Prasad Sinha	11540
Sudha Sinha	2772
G S Gahlot	3920
S Chidambaranathan	16205
C Dharani Devi	6610
B R Yadav	17020
Jaya Chauhan	375
Nitin Raj Sinha	5666
Amit Raj Sinha	4456
Smita Sinha	1410
Divya Soni	370
Navnit Raja	350
Devraj Singh	700
Bimla Sharma	410
Bhupendra Prasad Sinha	500
Ganesh Shanmugam	150
Krisha Sinha	500
C Kartika	150
Latha Sharma	200
S D Nigam	250
Shobha Nigam	3250
Usha Kiran Finance Limited, India	1500
Veera Bhadra Singh Chauhan	50
Divya Chauhan	350
Vasudeva Rao	1000
R P S Projects and Developers Private Limited, India	4800
Kamla Yadav	920
TOTAL	85424

AS ON 29.09.2012

Equity Shares Break Up	Percentage of Holding
Bodies corporate	8.00
Directors or relatives of Directors	57.00
Other top fifty shareholders	35.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Microcrystalline Cellulose, Micro Cristaline Cellulose Ph-250, Filter Aide Cellulose, Chlorinated Paraffin etc.

Products :

Product Description	Item Code Number
Hydrochloric Acid	28061000
Microcrystalline Cellulose	39121290
Chlorinated Paraffin	29031990

Exports :

Products :

• Microcrystalline Cellulose
• Chlorinated Paraffin

Countries :

• Singapore
• Thailand
• Bangladesh

Imports :

Products :

Raw Materials

Countries :

• Canada
• South Africa

Terms :

Selling :

L/C, Cash, Credit

Purchasing :

L/C, Cash, Credit

PRODUCTION STATUS (AS ON : 31.03.2012)

Particulars	Unit	Installed Capacity	Actual Production
Chlorinated Paraffin	MT / Annum	2300	1428.630
Microcrystalline cellulose	MT / Annum	1800	1960.350
Hydrochloric Acid	MT	--	2357.325

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

120 (Approximately)

Bankers :

• Canara Bank, Basheerbagh, Hyderabad-500001, Andhra Pradesh, India

• HDFC Bank Limited
• ICICI Bank Limited

Facilities :

Secured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Long Term Borrowings
Term Loan from Canara Bank for renovation	5.222	6.698
Term Loan from Canara Bank for research and development	0.839	0.000
(Above two term loans sanctioned by Canara Bank, secured by equitable mortgage of land and buildings and hypothecation of plant and machinery, testing equipments and all acquisitions of fixed assets in nature and guaranteed by Directors in their personal capacities)
Car Loan from Canara Bank, secured by Swift car	0.029	0.029
Car Loan from Canara Bank, secured by Tata Indica car	0.043	0.160
Car loan from Kotak Mahindra Prime Limited, secured by Skoda car	0.000	0.254
Vehicle loan from Cholamandalam Fin Limited, secured by Winger	0.273	0.000
Short Term Borrowings
From Bank
Working Capital	34.087	31.436
Packing Credit	12.788	10.277
Export Bills Discounting	0.000	4.997
Buyers Credit	15.229	0.000
(Working capital loans are secured by hypothecation of stocks and assignment of book debts and guaranteed by Directors in their personal capacities)
Long term loans payments falling within one year
Term Loan from Canara Bank for renovation	1.485	1.485
Car Loan from Canara Bank, secured by Swift car	0.000	0.086
Car Loan from Canara Bank, secured by Tata Indica car	0.167	0.167
Tanker loan from HDFC Bank Limited, secured by tanker	0.000	0.275
Car loan from Kotak Mahindra Prime Limited, secured by Skoda car	0.311	0.491
Vehicle loan from Cholamandalam Fin Limited, secured by Winger	0.261	0.000
TOTAL	70.734	56.355

Banking Relations :	--
Auditors :
Name :	T. Adinarayana Rao and Company Chartered Accountant
Address :	806, 8^th Floor, Raghava Ratna Towers, Chirag Ali Lane, ABIDS, Hyderabad-500001, Andhra Pradesh, India
PAN No.:	AAAFT9959R
Associates :	Sigachi Cellulos Private Limited R.P.S. Projects and Developers Private Limited Sigachi Plasticisers Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
85424	Equity Shares	Rs.100/- each	Rs. 8.542 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	8.542	8.542
(b) Reserves & Surplus	27.758	21.300
(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)	36.300	29.842
(3) Non-Current Liabilities
(a) long-term borrowings	10.759	11.594
(b) Deferred tax liabilities (Net)	3.711	3.499
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	14.470	15.093
(4) Current Liabilities
(a) Short term borrowings	64.328	49.214
(b) Trade payables	11.506	29.614
(c) Other current liabilities	0.506	0.150
(d) Short-term provisions	5.707	5.633
Total Current Liabilities (4)	82.047	84.611
TOTAL	132.817	129.546
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	40.481	36.849
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	1.887	2.397
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	42.368	39.246
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	23.173	30.503
(c) Trade receivables	49.587	49.625
(d) Cash and cash equivalents	2.322	2.079
(e) Short-term loans and advances	15.367	8.093
(f) Other current assets	0.000	0.000
Total Current Assets	90.449	90.300
TOTAL	132.817	129.546

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		8.542
2] Share Application Money		0.000
3] Reserves & Surplus		17.040
4] (Accumulated Losses)		0.000
NETWORTH		25.582
LOAN FUNDS
1] Secured Loans		50.732
2] Unsecured Loans		4.581
TOTAL BORROWING		55.313
DEFERRED TAX LIABILITIES		3.089
TOTAL		83.984
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		26.280
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	31.892
	Sundry Debtors	43.470
	Cash & Bank Balances	6.576
	Other Current Assets	0.000
	Loans & Advances	14.610
Total Current Assets		96.548
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	33.598
	Other Current Liabilities	3.150
	Provisions	2.096
Total Current Liabilities		38.844
Net Current Assets		57.704
MISCELLANEOUS EXPENSES		0.000
TOTAL		83.984

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	305.755	241.993	207.344
		Other Income
		TOTAL (A)	305.755	241.993	207.344
Less	EXPENSES
		Office Expenses	280.696	222.911	193.304
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	280.696	222.911	193.304
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		25.059	19.082	14.040
Less	FINANCIAL EXPENSES (D)		10.341	7.077	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		14.718	12.005	14.040
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.183	2.935	2.484
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		11.535	9.070	11.556
Less	TAX (H)		2.695	2.811	3.959
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		8.840	6.259	7.597
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		16.035	12.500	7.757
Less	APPROPRIATIONS
		Transfer to General Reserve	0.923	0.726	0.925
		Dividend	1.708	1.708	1.649
		Tax on Dividend	0.290	0.290	0.280
		Prior Period Expenditure	0.383	0.000	0.000
	BALANCE CARRIED TO THE B/S		21.571	16.035	12.500
	IMPORTS
		Raw Materials	73.588	31.726	42.610
	TOTAL IMPORTS		73.588	31.726	42.610
	Earnings / (Loss) Per Share (Rs.)		103.48	73.27	88.93

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.89	2.59	3.66
Return on Total Assets (PBT/Total Assets}	(%)	8.68	7.00	9.41
Return on Investment (ROI) (PBT/Networth)		0.32	0.30	0.45
Debt Equity Ratio (Total Debt /Networth)		2.07	2.04	2.16
Current Ratio (Current Asset/Current Liability)		1.10	1.07	2.49

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	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

Unsecured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Long Term Borrowings
From Others	0.650	0.750
Deferred payment credit- sales tax	3.703	3.703
TOTAL	4.353	4.453

VIEW INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10271515	19/07/2012 *	138,500,000.00	CANARA BANK	BASHIRBAGH BRANCH, HYDERABAD, Andhra PRADESH - 500 001, INDIA	B57706723
2	10236022	16/07/2010	400,000.00	CANARA BANK	RETAIL ASSET HUB,, DAMAYANTHI CHAMBERS, I FLOOR, ADARSH NAGAR, HYDERABAD, ANDHRA PRADESH - 500063, INDIA	A93182665
3	10120002	28/08/2008	498,000.00	CANARA BANK	BASHEERBAGH BRACH, HYDERABAD, ANDHRA PRADESH - 500 001, INDIA	A45004777
4	90262374	01/11/2003	5,170,000.00	ANDHRA PRADESH FINANCIAL CORPORATION	CHIRAG ALI LANE, HYDERABAD, Andhra PRADESH, INDIA	-
5	90262021	27/02/2001	1,000,000.00	CANARA BANK	BASHEER BAGH, HYDERABAD, ANDHRA PRADESH, INDIA	-
6	90261612	16/02/2000 *	12,100,000.00	CANARA BANK	BASHEER BAGH, HYDERABAD, ANDHRA PRADESH, INDIA	-
7	90261591	18/03/2005 *	6,500,000.00	CANARA BANK	BASHEER BAGH, HYDERABAD, Andhra PRADESH, INDIA	-
8	80004060	11/03/2013 *	135,160,000.00	CANARA BANK	BASHIRBAGH BRANCH, HYDERABAD, ANDHRA PRADESH - 500 029, INDIA	B73791428
9	90261547	07/07/2005 *	3,700,000.00	CANARA BANK	BASHEER BAGH, HYDERABAD, ANDHRA PRADESH, INDIA	-
10	90261540	16/02/2001 *	3,700,000.00	CANARA BANK	BASHEER BAGH, HYDERABAD, ANDHRA PRADESH, INDIA	-
11	90261467	09/02/2001 *	3,700,000.00	CANARA BANK	BASHEER BAGH, HYDERABAD, ANDHRA PRADESH, INDIA	-
12	90261446	19/01/1997	6,500,000.00	CANARA BANK	BASHEER BAGH, HYDERABAD, ANDHRA PRADESH, INDIA	-
13	90261174	19/12/1994	9,360,000.00	ANDHRA PRADESH FINANCIAL CORPORATION	CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH, INDIA	-
14	90260879	08/10/1994 *	2,040,000.00	STATE BANK OF TRAVANCORE	J.L. NEHRU ROAD, HYDERABAD, ANDHRA PRADESH, INDIA	-
15	90260811	12/03/1990	340,000.00	ANDHRA PRADESH FINANCIAL CORPORATION	CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH, INDIA	-
* Date of charge modification

NOTE

Registered office has been shifted from 411, Raghavaratna Towers, Chirag Ali Lane, Hyderabad, Andhra Pradesh, India to the present address w.e.f. 01.01.2008

OPERATIONS

The Company recorded a total income of Rs.305.755 Millions during the year as against Rs.241.993 Millions in the previous year and thus, registering a impressive growth of over 26% in turnover, overcoming the global financial crisis. The net profit after provision for tax is Rs.8.840 Millions as against Rs.6.259 Millions in the previous year, registering an increase in net profit of the Company even after increase in input costs, direct and indirect expenses and larger provision for depreciation. The Company was conferred with “INNOVATION” award for 2011 from MSME, Government of India for the Research and Development activities carried out in in-house R and D Centre.

FINANCE

Canara Bank, Basheerbagh Branch, Hyderabad has enhanced the existing credit facilities to Rs.113.160 Millions, including the balance of term loans of Rs.7.546 Millions for expansion and modernization of the Micro Crystalline Cellulose plant and for establishment of in-house Research and Development Centre.

CHANGE OF NAME OF THE COMPANY

The name of the Company has been changed from Sigachi Chloro Chemicals Private Limited to Sigachi Industries Private Limited pursuant to special resolution passed in the Extra-Ordinary General Meeting of the members held on 10th March, 2012 vide fresh Certificate of Incorporation issued by the Registrar of Companies, Andhra Pradesh on 29^th March, 2012.

FIXED ASSETS

• Land
• Building
• Plant and Machinery
• Furniture and Fixture
• Office Equipments
• Vehicles
• Lab Equipments

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. 90.67
Euro	1	Rs. 78.21

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	DPT

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	YES
--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	-

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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.