MIRA INFORM REPORT

Report Date :

08.06.2013

IDENTIFICATION DETAILS

Name :	DUROFLEX PRIVATE LIMITED
Registered Office :	P B No.3808, Chungom, Alleppey-688011, Kerala
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	09.11.1981
Com. Reg. No.:	09-003447
Capital Investment / Paid-up Capital :	Rs. 48.530 Millions
CIN No.: [Company Identification No.]	U36104KL1981PTC003447
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Rubberized Coir Products, Polyurethane Foam Product and Spring Mattress
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 900000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Financially company is performing well. Trade relations are reported to be 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 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BBB (Cash Credit)
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation. It carry moderate credit risk.
Date	December 2012

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 :	P B No.3808, Chungom, Alleppey-688011, Kerala, India
Tel. No.:	91-477-2251142 / 2251743
Fax No.:	91-477-2251217
E-Mail :	duroflex@duroflexindia.in
Website :	www.duroflexworld.com

DIRECTORS

AS ON 29.09.2012

Name :	George Luis Mathew
Designation :	Managing Director
Address :	Pallivathuckal Alleppey-688011, Kerala, India
Date of Birth/Age :	15.06.1953
Date of Appointment :	05.06.2003
PAN No.:	AFGPM5097N
DIN No.:	00058529

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	U25199KL1994PTC008003	ALLEPPEY LATEX PRIVATE LIMITED	Director	25-10-95	25-10-95	Active	NO
2	U02310KA1999PTC025920	COMFORTEK ADVANCED PRODUCTS PRIVATE LIMITED(ALTERATION)	Director	15-11-99	15-11-99	Active	NO
3	U72900KA2000PTC027928	UNISUN TECHNOLOGIES PRIVATE LIMITED	Director	10-10-00	10-10-00	Active	NO
4	U17297KL2001PTC021637	COCO-LATEX EXPORTS PRIVATE LIMITED	Director	09-04-01	09-04-01	Active	NO
5	U36104KL1981PTC003447	DUROFLEX PRIVATE LIMITED	Whole-time director	19-01-13	05-06-03	Active	NO
6	U74999KL2006PTC019721	PALMSPRING MATTRESSES PRIVATE LIMITED	Director	10-08-06	10-08-06	Active	NO
7	U74999KL1993PTC015799	DUROFLEX EXPORTS PRIVATE LIMITED	Director	30-09-06	30-09-06	Active	NO

Name :	Mr. Vallonthayil Mohan Andrews
Designation :	Whole Time Director
Address :	No.7, 17^th Cross BTM Layout, Bangalore-560046, Karnataka, India
Date of Birth/Age :	02.05.1953
Date of Appointment :	28.06.2000
Date of Cessation :	19.01.2013
DIN No.:	00150040
Name :	Mr. Stanley Kunjippalu
Designation :	Director
Address :	2B, Eliza Apartments, Old Railway Station Road, Ernalkulam-682018, Kerala, India
Date of Birth/Age :	16.12.1956
Date of Appointment :	18.03.2011
DIN No.:	00006855

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	U85190MH2006PTC161480	DDRC SRL DIAGNOSTICS PRIVATE LIMITED	Alternate director	05-07-06	05-07-06	31-10-08	Active	NO
2	U36104KL1981PTC003447	DUROFLEX PRIVATE LIMITED	Director	30-09-11	18-03-11	-	Active	NO
3	U72900KA2000PTC027928	UNISUN TECHNOLOGIES PRIVATE LIMITED	Director	29-09-11	29-09-11	-	Active	NO

Name :	Mr. Jojo Chandi
Designation :	Director
Date of Birth/Age :	10.05.1954
Date of Appointment :	20.03.2001
DIN No.:	00069592

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	U25199KL1989PTC005401	SAHAYADRI RULAX INDIA PRIVATE LIMITED	Managing director	14-07-91	14-07-91	Active	NO
2	U91990KL1914NPL000653	MUNDAKAYAM CLUB	Director	30-08-93	30-08-93	Active	NO
3	U50101KL1994PTC007764	SAHAYADRI AUTO AGENCIES PRIVATE LIMITED	Director	11-03-94	11-03-94	Active	NO
4	U36104KL1981PTC003447	DUROFLEX PRIVATE LIMITED	Director	20-03-01	20-03-01	Active	NO

Name :	Mr. Firdosh Hector Sholapurwala
Designation :	Director
Address :	No.236/A, 10^th Main Cross Maruthi Nagar, Newthippasandra, Bangalore, Karnataka, India
Date of Birth/Age :	29.11.1954
Date of Appointment :	18.04.2007
DIN No.:	00107212

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	U02310KA1999PTC025920	COMFORTEK ADVANCED PRODUCTS PRIVATE LIMITED(ALTERATION)	Managing director	15-11-99	15-11-99	Active	NO
2	U72900KA2000PTC027928	UNISUN TECHNOLOGIES PRIVATE LIMITED	Director	01-05-04	01-05-04	Active	NO
3	U36104KL1981PTC003447	DUROFLEX PRIVATE LIMITED	Director	27-09-07	18-04-07	Active	NO

Name :	Mr. Shaji Joseph
Designation :	Whole Time director
Address :	No.1056, L N Lay Out, Kariyanapalaya, Lingar Ajapuram, Bangalore-560084, Karnataka, India
Date of Birth/Age :	28.03.1961
Date of Appointment :	21.08.2000
DIN No.:	00107609

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	U36104KL1981PTC003447	DUROFLEX PRIVATE LIMITED	Whole-time director	21-08-00	21-08-00	Active	NO
2	U17297KL2001PTC021637	COCO-LATEX EXPORTS PRIVATE LIMITED	Director	09-04-01	09-04-01	Active	NO
3	U72900KA2000PTC027928	UNISUN TECHNOLOGIES PRIVATE LIMITED	Director	17-02-03	17-02-03	Active	NO
4	U02310KA1999PTC025920	COMFORTEK ADVANCED PRODUCTS PRIVATE LIMITED(ALTERATION)	Director	17-02-03	17-02-03	Active	NO
5	U74999KL1993PTC015799	DUROFLEX EXPORTS PRIVATE LIMITED	Director	17-02-03	17-02-03	Active	NO

Name :	Mr. Mathew Joseph
Designation :	Director
Date of Birth/Age :	11.02.1945
Date of Appointment :	15.06.2009
DIN No.:	02600722

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	U36104KL1981PTC003447	DUROFLEX PRIVATE LIMITED	Director	29-09-09	15-06-09	Active	NO

Name :	Mr. Mathew George
Designation :	Whole Time Director
Address :	Pallivathuckal Alleppey-688011, Kerala, India
Date of Birth/Age :	09.09.1984
Date of Appointment :	18.03.2011
PAN No.:	AQRPM4160E
DIN No.:	03499253

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	U36104KL1981PTC003447	DUROFLEX PRIVATE LIMITED	Whole-time director	19-01-13	18-03-11	Active	NO
2	U72900KA2000PTC027928	UNISUN TECHNOLOGIES PRIVATE LIMITED	Director	29-09-11	29-09-11	Active	NO
3	U17297KL2001PTC021637	COCO-LATEX EXPORTS PRIVATE LIMITED	Additional director	25-01-13	25-01-13	Active	NO

Name :	Mr. Mathew Antony Joseph
Designation :	Whole Time Director
Address :	No.1056, L N Lay Out, Kariyanapalaya, Lingar Ajapuram, Bangalore-560084, Karnataka, India
Date of Birth/Age :	15.10.1984
Date of Appointment :	18.03.2011
PAN No.:	AFFPJ0982C
DIN No.:	03499210

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	U36104KL1981PTC003447	DUROFLEX PRIVATE LIMITED	Whole-time director	19-01-13	18-03-11	Active	NO
2	U72900KA2000PTC027928	UNISUN TECHNOLOGIES PRIVATE LIMITED	Director	29-09-11	29-09-11	Active	NO
3	U17297KL2001PTC021637	COCO-LATEX EXPORTS PRIVATE LIMITED	Additional director	25-01-13	25-01-13	Active	NO

Name :	Mathew Chandy
Designation :	Whole Time Director
Address :	No.236/A, 10^th Main Cross Maruthi Nagar, Newthippasandra, Bangalore, Karnataka, India
Date of Birth/Age :	20.04.1978
Date of Appointment :	23.04.2012
PAN No.:	ACOPC6169Q
DIN No.:	05289633

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	U72900KA2000PTC027928	UNISUN TECHNOLOGIES PRIVATE LIMITED	Director	26-09-12	23-04-12	Active	NO
2	U36104KL1981PTC003447	DUROFLEX PRIVATE LIMITED	Managing director	19-01-13	23-04-12	Active	NO
3	U17297KL2001PTC021637	COCO-LATEX EXPORTS PRIVATE LIMITED	Additional director	25-01-13	25-01-13	Active	NO

KEY EXECUTIVES

Name :	Solly Mathew
Designation :	Secretary
Date of Appointment :	12.12.2001
PAN No.:	AJAPM1792N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
George Luis Mathew	1066623
Sheela Joseph	551361
Mathew Chandy	1107740
Mathew Antony Joseph	550001
Mathew George	539038
Jacob J George	538046
Vallonthayil Mohan Andrews	106
Shaji Joseph	40
Mathew Joseph	150000
Mathew M Mathew	175000
Kodiyan Lawerence	175000
TOTAL	4852955

AS ON 29.09.2012

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Rubberized Coir Products, Polyurethane Foam Product and Spring Mattress

PRODUCTION STATUS (AS ON : 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Rubberized Coir	MT	8000	4796
P U Foam	MT	3000	1326

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Canara Bank, Boat Jetty Road, Alleppey, Uppal Branch, Hyderabad, Andhra Pradesh, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Long Term Borrowings
Canara Bank Term Loan (Secured by Fixed Assets and guaranteed by Managing Director of the company)	21.432	29.739
Vehicle Loan (Secured by Motor Car and guaranteed by Managing Director of the company)	0.000	0.063
Short Term Borrowings
Working Capital Loans From banks	123.868	93.369
Loans Repayable on Demand From Banks	0.063	0.140
TOTAL	145.363	123.311

Banking Relations :	--
Auditors :
Name :	Iyer and Abraham Chartered Accountant
Address :	Mullackal, Allepey-688011, Kerala, India
PAN No.:	ABWPA8324L
Associates :	Coco-Latex Exports Private Limited CIN No.:- U17297KL2001PTC021637 Duroflex Exports Private Limited CIN No.:- U74999KL1993PTC015799 Alleppey Latex Private Limited CIN No.:- U25199KL1994PTC008003 Comfortek Advanced Products Private Limited(Alteration) CIN No.:- U02310KA1999PTC025920 Essem Industries
Subsidiaries :	Unisun Technologies Private Limited CIN No.:- U72900KA2000PTC027928

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
9990000	Equity Shares	Rs.10/- each	Rs. 99.900 Millions
1000	12% Cumulative Preference Shares	Rs.100/- each	Rs. 0.100 Million
	TOTAL		Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4852955	Equity Shares	Rs.10/- each	Rs. 48.530 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		48.530	48.530	48.530
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		177.293	157.303	146.666
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		225.823	205.833	195.196
LOAN FUNDS
1] Secured Loans		145.363	123.311	118.854
2] Unsecured Loans		0.321	0.321	0.321
TOTAL BORROWING		145.684	123.632	119.175
DEFERRED TAX LIABILITIES		16.578	15.500	14.066
TOTAL		388.085	344.965	328.437
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		195.833	200.617	187.548
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		9.572	9.572	14.213
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	150.626	103.575	77.495
	Sundry Debtors	111.464	87.163	93.864
	Cash & Bank Balances	89.673	81.766	112.451
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	53.967	32.396	29.156
Total Current Assets		405.730	304.900	312.966
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	133.576	90.280	139.879
	Other Current Liabilities	60.249	62.579	27.818
	Provisions	29.225	17.265	18.593
Total Current Liabilities		223.050	170.124	186.290
Net Current Assets		182.680	134.776	126.676
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		388.085	344.965	328.437

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1240.000	1040.000	920.000
		Other Income
		TOTAL (A)	1240.000	1040.000	920.000
Less	EXPENSES
		Office Expenses	1165.600	987.900	855.700
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	1165.600	987.900	855.700
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		74.400	52.100	64.300
Less	FINANCIAL EXPENSES (D)		18.800	12.500	10.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		55.600	39.600	54.300
Less/ Add	DEPRECIATION/ AMORTISATION (F)		13.500	14.900	13.900
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		42.100	24.700	40.400
Less	TAX (H)		13.700	8.500	13.800
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		28.400	16.200	26.600
Less	Proposed Dividend on Equity Shares		7.300	6.100	4.400
Less	Tax on Dividend		1.200	1.000	0.700
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		77.500	70.900	51.900
Less	APPROPRIATIONS
		Transfer to General Reserve	2.500	2.500	2.500
	BALANCE CARRIED TO THE B/S		94.900	77.500	70.900
	EARNINGS IN FOREIGN CURRENCY		20.622	1.388	10.633
	IMPORTS
		Raw Materials	NA	65.052	43.195
		Stores & Spares	NA	0.315	0.189
		Capital Goods	NA	1.693	3.620
	TOTAL IMPORTS		NA	67.060	47.004
	Earnings Per Share (Rs.)		5.85	--	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.29	1.56	2.89
Return on Total Assets (PBT/Total Assets}	(%)	7.00	4.89	8.07
Return on Investment (ROI) (PBT/Networth)		0.19	0.12	0.21
Debt Equity Ratio (Total Debt /Networth)		0.65	0.60	0.61
Current Ratio (Current Asset/Current Liability)		1.82	1.79	1.68

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

Unsecured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Long Term Borrowings
From directors	0.321	0.321
TOTAL	0.321	0.321

RESULTS OF OPERATIONS

The year continued to be a year of growth and consolidation. Their total sales and other operative income increased to 1240.000 Millions from Rs. 1040.000 Millions from the previous year, at a growth rate of 19%. The net profit after tax was Rs. 28.400 Millions.

SUBSIDIARIES

(i) UNISUN TECHNOLOGIES PRIVATE LIMITED

Apart from the agreement with the Dow Solar Solutions, U.S.A. and Bosch the company has entered into an agreement to provide consultancy to Wipro Eco Energy, India, for Solar Air Drying and Solar Steam Generation System.

The company has successfully executed a pongamia bio-fuel based micro-energy project in a remote village in Karnataka. Another similar trial order has been executed in Jharkand. We expect to be profitably active in a wide spectrum of bio-fuel activities like micro bio-fuel projects for rural energy, bio-fuel trading, bio-diesel by esterification, energy plantation and hybrid bio-fuel plant breeding.

(ii) DUROFLEX EXPORTS PRIVATE LIMITED

Company is continuing its activities and export products to many countries.

FORM 8

Corporate identity number of the company	U36104KL1981PTC003447
Name of the company	DUROFLEX PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	P B No.3808, Chungom, Alleppey-688011, Kerala, India
This form is for	Modification of charge
Charge identification number of the charge to be modified	10362721
Type of charge	Immovable property Any interest in immovable property Book debts
Particular of charge holder	Canara Bank, Boat Jetty Road, Alleppey, Uppal Branch, Hyderabad, Andhra Pradesh, India
Nature of instrument creating charge	Supplemental Common Hypothecation Agreement
Date of instrument Creating the charge	31.12.2012
Amount secured by the charge	Rs. 321.300 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest As per Agreement Terms of repayment As per Agreement Margin As per Agreement Extent and operation of the charge Charge on specific immovable properties of the company and first charge on all the current assets , plant and machinery and hypothecation of machinery to be acquired out of the bank finance to the extent of loan outstanding including interest and other charges in respect of Other Cash Credit -120.000 Millions, ODBD – 100.000 Millions, LC 50.000 Millions, Guarentee – 5.000 Millions, Packing credit – 5.000 Millions, FDB/FBE – 5.000 Millions, TL3-20.000 Millions,TL1-8.847 Millions, TL2-6.804 Millions
Short particulars of the property charged (Including location of the property)	Hypothecation of Raw materials, Stock in process, finished goods, stores and spares in the factories and plants godowns at different factories across the country. Continuation of existing EM of immovable properties.
Date of instrument modifying the charge	08.05.2012
Particulars of the present modification	Current limit is 321.300 Millions with OCC -120.000 Millions, ODBD-100.000 Millions, LC-50.000 Millions, BG-5.000 Millions, PC-5.000 Millions, FDB/FBE-5.000 Millions, TL3-20.000 Millions. TL1-8.847 Millions and TL 2-6.804 Millions. TL 1 – 29.000 Millions with Charge ID 10067735, and TL 2- 22.300 Millions with charge ID 10106868

FIXED ASSETS

• Land
• Building
• Plant and Machinery
• Furniture and Fixtures
• Computers
• Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records 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] 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. 56.74
UK Pound	1	Rs. 88.53
Euro	1	Rs. 75.20

INFORMATION DETAILS

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	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	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		47

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.