MIRA INFORM REPORT

Report Date :

22.06.2013

IDENTIFICATION DETAILS

Name :	CASTRON MINING LIMITED
Registered Office :	504, Diamond Prestige, 41A, Acharya Jagdish Chandra Bose Road, Kolkata-700014, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	24.06.1996
Com. Reg. No.:	21-080158
Capital Investment / Paid-up Capital :	Rs.142.960 Millions
CIN No.: [Company Identification No.]	U51109WB1996PLC080158
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Coal Mining.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 567000
Status :	Yet to commence the commercial activity
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated on June 24, 1996, it has not yet started its commercial activity as on the dated 31^st March 2012. There appear some pre-operative expenses. Payment terms are unknown. In view of experienced and reputed promoters, the subject can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2013

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

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

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	504, Diamond Prestige, 41A, Acharya Jagdish Chandra Bose Road, Kolkata-700014, West Bengal, India
Tel. No.:	91-33-30221393
Fax No.:	91-33-30221393
E-Mail :	compsec@bla.co.in
Corporate Office :	84, Maker Chambers III, Nariman Point, Mumbai-400021, Maharashtra, India

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Anup Premeshwar Agarwalla

Designation :

Director

Address :

55, Ameeta, 7, General Bhosle Marg, Mumbai-400021, Maharashtra, India

Date of Birth/Age :

25.05.1969

Date of Appointment :

26.09.2005

Din No.:

00056208

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	U74999MH1995PTC086413	BLAENERGY PRIVATE LIMITED	Director	14/03/1995	14/03/1995	30/03/2012	Active	NO
2	U51909MH1974PTC148227	DIPCO EXTRACTION EXPORT HOUSE PRIVATE LIMITED	Director	17/07/2002	17/07/2002	30/03/2012	Active	NO
3	U10200MH1964PTC162314	B L A INDUSTRIES PRIVATE LIMITED.	Managing director	17/07/2002	17/07/2002	-	Active	NO
4	U23101MH2005PTC189826	BLA COKE PRIVATE LIMITED	Director	18/03/2005	18/03/2005	24/03/2011	Active	NO
5	U27100MH2005PTC152082	MA KALI IRON AND STEEL COMPANY PRIVATE LIMITED	Director	21/03/2005	21/03/2005	23/03/2009	Active	NO
6	U13100MH2005PTC152079	SHRI JAGANNATH METALLURGICAL COAL AND COKE PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO
7	U13100MH2005PTC152078	OM MINING COMPANY PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO
8	U13100MH2005PTC152081	BLA COAL MINING AND WASHERIES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO
9	U51109WB1996PLC080158	CASTRON MINING LIMITED	Director	26/09/2005	26/09/2005	-	Active	NO
10	U51220MH2005PTC153779	ADVAITA FOODS PRIVATE LIMITED	Director	29/09/2007	22/01/2006	-	Active	NO
11	U40102MH2006PTC165429	B L A CHHATTISGARH THERMAL POWER PRIVATE LIMITED	Director	08/11/2006	08/11/2006	-	Active	NO
12	U40102MH2006PTC165430	B L A POWER PRIVATE LIMITED	Managing director	14/02/2008	08/11/2006	-	Active	NO
13	U26943MH2006PTC166539	BLA CEMENT PRIVATE LIMITED	Director	27/12/2006	27/12/2006	-	Active	NO
14	U40109MH2008PTC178561	ADVAITA HOLDINGS PRIVATE LIMITED	Director	06/02/2008	06/02/2008	-	Active	NO
15	U67190MH2008PTC179228	B L A POWER HOLDING PRIVATE LIMITED	Director	21/02/2008	21/02/2008	-	Active	NO
16	U40101MH2008PTC183023	B L A RENEWABLE ENERGY PRIVATE LIMITED	Director	02/06/2008	02/06/2008	-	Active	NO
17	U67190MH2008PTC187993	CHINMAYA HOLDINGS PRIVATE LIMITED	Director	05/11/2008	05/11/2008	-	Active	NO
18	U40200HP2009PTC031066	B L A SHALVI HYDRO POWER PRIVATE LIMITED	Director	29/07/2010	23/03/2009	-	Active	NO
19	U51109WB1995PTC069277	CORBAL SUPPLIERS PVT LTD	Director	25/03/2009	25/03/2009	01/10/2009	Active	NO
20	U10200MH2009PTC191479	B L A COAL PRIVATE LIMITED	Director	31/07/2010	03/04/2009	-	Active	NO
21	U27101MH2009PLC194794	CHINMAYA STEEL AND POWER LIMITED	Director	30/09/2010	08/08/2009	-	Active	NO
22	U85100MH2009NPL195370	SEVA SAHAYOG FOUNDATION	Director	21/12/2009	21/12/2009	-	Active	NO
23	U40101HP2011PTC031757	ADVAITA HYDRO POWER PRIVATE LIMITED	Director	19/09/2011	19/09/2011	-	Active	NO

Name :

Mr. Mahesh Phulchand Modi

Designation :

Director

Address :

37B/1-D Block, ‘B’ New Alipore, Kolkata-700053, West Bengal, India

Date of Birth/Age :

05.08.1951

Date of Appointment :

27.12.2004

Din No.:

00364457

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	U24219WB1991PTC053920	PANCHMUKHI INDIA PRIVATE LIMITED	Director	13/08/1993	13/08/1993	Active	NO
2	U15312WB1997PTC085014	SRINIVASA EXIM PRIVATE LIMITED	Director	29/07/1997	29/07/1997	Active	NO
3	U51109WB1996PLC080158	CASTRON MINING LIMITED	Whole-time director	27/12/2004	27/12/2004	Active	NO

Name :

Mr. Narendra Kumar Saraf

Designation :

Director

Address :

Adarsh Vihar, Dhansar, Dhanbad-828106, Jharkhand, India

Date of Birth/Age :

12.03.1950

Date of Appointment :

29.12.2004

Din No.:

00364290

Name :

Mr. Kamal Ghosh

Designation :

Director

Address :

41, New South Park, Baghajatin, Po Regent Estate, Kolkata-700092, West Bengal, India

Date of Birth/Age :

06.05.1949

Date of Appointment :

20.11.2009

Din No.:

02837505

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	U51109WB1996PLC080158	CASTRON MINING LIMITED	Nominee director	29/09/2010	20/11/2009	Active	NO
2	L50500WB1964PLC026053	FOUNDRY FUEL PRODUCTS LIMITED	Additional director	19/09/2012	19/09/2012	Active	NO

Name :

Mr. Rajeev Dugar

Designation :

Director

Address :

A-503, Shat Tarka Apartments, R.T.P.S. Road, Surendra Nagar, Nagpur-440015, Maharashtra, India

Date of Birth/Age :

10.01.1964

Date of Appointment :

08.12.2009

Din No.:

02863620

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	U51109WB1996PLC080158	CASTRON MINING LIMITED	Director	29/09/2010	08/12/2009	Active	NO

Name :

Mr. Ruchir Omprakash Jalan

Designation :

Director

Address :

Flat No. 54/55, 8^th Floor, Madhusudan Apartment, Worli Hill Road, Mumbai-400018, Maharashtra, India

Date of Birth/Age :

30.01.1974

Date of Appointment :

30.07.2012

Din No.:

03172070

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	U25200MH2005PTC151573	SHREE OM POLY PROCESSOR PRIVATE LIMITED	Director	22/01/2006	22/01/2006	Strike off	NO
2	L50500WB1964PLC026053	FOUNDRY FUEL PRODUCTS LTD	Director	10/08/2012	29/05/2012	Active	NO
3	U51109WB1996PLC080158	CASTRON MINING LIMITED	Director	29/09/2012	30/07/2012	Active	NO
4	U40102MH2006PTC165429	B L A CHHATTISGARH THERMAL POWER PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	Active	NO
5	U13100MH2005PTC152079	SHRI JAGANNATH METALLURGICAL COAL AND COKE PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	Active	NO
6	U13100MH2005PTC152078	OM MINING COMPANY PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	Active	NO
7	U27100MH2005PTC152082	MA KALI IRON AND STEEL COMPANY PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	Active	NO
8	U40200HP2009PTC031066	B L A SHALVI HYDRO POWER PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	Active	NO
9	U13100MH2005PTC152081	BLA COAL MINING AND WASHERIES PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	Active	NO
10	U10200MH2009PTC191479	B L A COAL PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	Active	NO
11	U26943MH2006PTC166539	BLA CEMENT PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	Active	NO
12	U27101MH2009PLC194794	CHINMAYA STEEL AND POWER LIMITED	Additional director	26/03/2013	26/03/2013	Active	NO
13	U67190MH2008PTC187993	CHINMAYA HOLDINGS PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	Active	NO
14	U40101MH2008PTC183023	B L A RENEWABLE ENERGY PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	Active	NO

Name :

Mr. Sunil Kumaran Vishwambharan

Designation :

Additional Director

Address :

Flat No. B/80, 5^th Floor, Meera Darshan CHSL, MTNL Road, Mira Road, Thane-401107, Maharashtra, India

Date of Birth/Age :

04.10.1971

Date of Appointment :

08.01.2013

Din No.:

02831247

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	U13100MH2005PTC152079	SHRI JAGANNATH METALLURGICAL COAL AND COKE PRIVATE LIMITED	Director	31/07/2010	09/01/2010	15/05/2012	Active	NO
2	U13100MH2005PTC152081	BLA COAL MINING AND WASHERIES PRIVATE LIMITED	Director	31/07/2010	09/01/2010	15/05/2012	Active	NO
3	U74990MH2009PTC194562	PRAKRITIK LOGISTICS PRIVATE LIMITED	Director	30/09/2010	15/01/2010	15/05/2012	Active	NO
4	U45400MH2009PTC190266	PRAKRITIK CONSTRUCTIONS PRIVATE LIMITED	Director	30/09/2010	15/01/2010	15/05/2012	Active	NO
5	U74990MH2009PTC194560	DWAITA PROJECTS PRIVATE LIMITED	Director	31/07/2010	15/01/2010	15/05/2012	Active	NO
6	U27100MH2005PTC152082	MA KALI IRON AND STEEL COMPANY PRIVATE LIMITED	Additional director	26/03/2013	29/01/2010	-	Active	NO
7	L50500WB1964PLC026053	FOUNDRY FUEL PRODUCTS LTD	Director	10/08/2012	29/05/2012	-	Active	NO
8	U51109WB1996PLC080158	CASTRON MINING LIMITED	Additional director	08/01/2013	08/01/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Pratap Kumar Chakraborty
Designation :	Secretary
Address :	133, Hazra Road, Kolkata, West Bengal, India
Date of Birth/Age :	04.05.1954
Date of Appointment :	01.04.2005
Pan No.:	AEUPC6993A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

NOTE: SHAREHOLDING DETAILS FILE ATTACHED.

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	96.00
Directors or relatives of directors	2.00
Other top fifty shareholders	2.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Coal Mining.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	· State Bank of India · ICICI Bank Limited

Banking Relations :	--
Financial Institution :	BLA Industrial Private Limited, 84, Maker Chambers III, Nariman Point, Mumbai-400021, Maharashtra, India
Auditors :
Name :	Rakesh Garg and Associates Chartered Accountants
Address :	B-1/3 EMCA House, 289 Shahid Bhagat Singh Marg, Fort, Mumbai – 400023, Maharashtra, India
PAN No:	AAOPG0578P
Holding Company :	Chinmaya Holdings Private Limited [U67190MH2008PTC187993]

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs.10/- each	Rs.250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14296000	Equity Shares	Rs.10/- each	Rs.142.960 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	142.960	142.960
(b) Reserves & Surplus	(1.204)	0.000
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	28.267	10.452
(3) Non-current liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.323	0.482
(4) Current liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	1.818	1.109
(d) Short-term provisions	0.795	0.602
TOTAL	172.959	155.605
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	23.365	23.375
(ii) Intangible Assets	0.000	0.129
(iii) Capital work-in-progress	104.695	87.228
(iv) Intangible assets under development	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	3.647	3.330
(e) Other Non-current assets	0.000	0.000
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	39.400	39.400
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	1.641	1.640
(e) Short-term loans and advances	0.211	0.210
(f) Other current assets	0.000	0.293
TOTAL	172.959	155.605

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		142.960
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		142.960
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		142.960
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		18.189
Capital work-in-progress		4.211
Expenditure Pending Allocation, Net		62.312
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	39.400
	Sundry Debtors	0.000
	Cash & Bank Balances	3.492
	Other Current Assets	0.000
	Loans & Advances	17.420
Total Current Assets		60.312
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.776
	Other Current Liabilities	0.581
	Provisions	0.000
Total Current Liabilities		2.357
Net Current Assets		57.955
MISCELLANEOUS EXPENSES		0.293
TOTAL		142.960

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	0.002	0.000	0.000
		Other Income	0.000	0.000	0.000
		TOTAL (A)	0.002	0.000	0.000
Less	EXPENSES
		Other Expenses	0.647	0.000	0.000
		TOTAL (B)	0.647	0.000	0.000
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.645)	0.000	0.000
Less	FINANCIAL EXPENSES (D)		0.000	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.645)	0.000	0.000
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.128	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(0.773)	0.000	0.000
Less	TAX (H)		0.431	0.000	0.000
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(1.204)	0.000	0.000
	Earnings / (Loss) Per Share (Rs.)		(0.08)	0.00	0.00

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(60200.00)	0.00	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(1.13)	0.00	0.00
Return on Investment (ROI) (PBT/Networth)		(0.01)	0.00	0.00
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		15.79	24.27	25.59

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)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	No
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

FINANCIAL RESULTS:

During the year, the Company has suffered a loss of Rs.1.204 Millions.

FUTURE OUTLOOK:

The company is in the process of acquiring majority stake in a Company where it has a Coal Washery unit and Coke Owen to manufacture Metallurgical Coke. The cooking coal mined from the company mine will be processed in unit of this company for manufacturing of Metallurgical Coke. The directors are making all out efforts towards starting the Mine at the earliest. The Company is still awaiting certain clearances from government agencies before commencing commercial production. The company is maintaining adequate security required to safeguard the mine site and the coal stock of the company. The erstwhile directors are still continuing their frivolous campaign against the working of the Company as well as the directors by filing baseless suits and vexatious proceedings in various courts. Their basic intention is to defraud the company of its legitimate lease rights over Brahmadiha coal mine. The Company Law Board, on the Company petition no. 50 filed by Shri Anup Agarwalla and others, by its interim order dated 8th May, 2007 has restrained Mahendra Kumar Agarwalla, Atul Kumar Agarwalla and Savita Devi Agarwalla and each one of them from representing for and on behalf of the Company. By its order dated 17th April 2009, CLB has continued the interim order dated 8th May, 2007 till disposal of Title Suit No. 37/2005. Both the parties have filed appeal in Hon’ble Calcutta High Court against the said Company Law Board Order, The Calcutta High Court by its order dated 6th July 2012 has allowed the appeal of other side and the Company has taken steps for filing the Special Leave Petition in the Supreme Court against the said orders.

FIXED ASSETS:

· Freehold Land

· Building

· Plant and Machinery

· Vehicles

· Furniture and Fixtures

· Office Equipments

· Computer

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] 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.59.35
UK Pound	1	Rs.92.11
Euro	1	Rs.78.59

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.