MIRA INFORM REPORT

Report Date :

24.06.2013

IDENTIFICATION DETAILS

Name :	NAVRAJ ENTERPRISES LIMITED (w.e.f. 11.12.2002)
Formerly Known As :	RAMSARUP ENTERPRISES PRIVATE LIMITED
Registered Office :	Ground Floor, 113 B, Ripon Street, Kolkata-700016, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	19.11.1992
Com. Reg. No.:	21-057036
Capital Investment / Paid-up Capital :	Rs. 53.207 millions
CIN No.: [Company Identification No.]	U51420WB1992PLC057036
PAN No.: [Permanent Account No.]	AABCN0628D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader of Ferrous and Non Ferrous Metal.
No. of Employees :	13 (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 580000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are fair. Business is active. Payment terms are usually correct and as per commitment. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

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

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

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

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

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY

Name :	Mr. Deepak
Designation :	Manager
Contact No.:	91-33-22299471
Date :	21.06.2013

LOCATIONS

Registered Office / Warehouse:	Ground Floor, 113 B, Ripon Street, Kolkata-700016, West Bengal, India
Tel. No.:	91-33-22299471 / 22290294
Fax No.:	91-33-22295500
E-Mail :	navraj.nel@gmail.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Anit Kumar Jalan

Designation :

Director

Address :

43A, Hara Mohan Ghosh Lane, Kolkata-700085, West Bengal, India

Date of Birth/Age :

26.12.1964

Qualification :

C.A

Date of Appointment :

30.08.2001

Voter ID No.:

WB/22/155/189038

DIN No.:

00550878

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	U67120MH1994PTC161973	ANIT FINVEST PRIVATE LIMITED.	Director	24-01-94	24-01-94	29-07-08	Active	NO
2	U51109WB1993PTC061050	DHANTREASH MERCANTILES PRIVATE LIMITED	Director	03-02-94	03-02-94	-	Active	NO
3	U51909MH1995PTC161972	HIGHSEAS VYAPAAR PRIVATE LIMITED	Director	25-01-95	25-01-95	29-07-08	Active	NO
4	U67120MH1994PTC161971	CANDOUR FINCON PRIVATE LIMITED.	Director	25-01-95	25-01-95	29-07-08	Active	NO
5	U51109WB1995PTC067851	CROMATIC SUPPLIERS PRIVATE LIMITED	Director	25-01-95	25-01-95	-	Active	NO
6	U51109WB1995PTC067852	ILLINGWORTH COMMERCE PRIVATE LIMITED	Director	01-03-99	01-03-99	-	Active	NO
7	U74140WB1997PTC084628	AKR CONSULTANTS PRIVATE LIMITED	Director	24-08-00	24-08-00	-	Active	NO
8	L65923WB1990PLC050406	COMMITMENT FINANCE LIMITED	Director	12-07-01	12-07-01	06-05-08	Active	NO
9	U51420WB1992PLC057036	NAVRAJ ENTERPRISES LIMITED	Director	30-08-01	30-08-01	-	Active	NO
10	U67190WB2004PTC097912	CONSORTIUM CAPITAL PRIVATE LIMITED	Whole-time director	23-02-04	23-02-04	-	Active	NO
11	L15142PB1987PLC007455	GRAINTEC INDIA LIMITED	Director	16-09-04	16-09-04	-	Active	NO
12	U45202CH1987PLC007455	GRAINTEC INDIA LIMITED	Director	16-09-04	16-09-04	-	Not Available for eFiling	NO
13	U74999WB2004PTC100803	CONSORTIUM COMDEAL PRIVATE LIMITED	Director	22-12-04	22-12-04	-	Active	NO
14	U52599WB2005PTC102524	HANUMAN SUPPLY CHAIN PRIVATE LIMITED	Director	29-03-05	29-03-05	20-03-08	Active	NO
15	U51109WB2005PTC102545	DEVIKA VANIJYA PRIVATE LIMITED	Director	29-03-05	29-03-05	20-03-08	Active	NO
16	U51109WB2005PTC102546	ADITI VYAPAAR PRIVATE LIMITED	Director	29-03-05	29-03-05	20-03-08	Active	NO
17	U51909WB1991PTC051773	COMPANION TRADE AND FINANCE PRIVATE LIMITED	Director	12-01-06	12-01-06	14-07-08	Active	NO
18	U29303WB2004PTC099701	TLT ELECTRICALS PRIVATE LIMITED	Additional director	10-01-07	10-01-07	-	Active	NO
19	U51109WB2006PTC107774	PARAG BARTER PRIVATE LIMITED	Director	29-09-07	29-09-07	02-05-08	Amalgamated	NO
20	U70101WB2006PTC109658	SATI NIRMAN PRIVATE LIMITED	Director	24-11-08	24-11-08	-	Amalgamated	NO
21	U45400WB2012PTC189473	MODAKPRIYA DEVELOPERS PRIVATE LIMITED	Director	25-02-13	25-02-13	-	Active	NO

Name :

Mr. Navin Jhunjhunwala

Designation :

Director

Address :

10/4, Alipore Park Place, Kolkata-700016, West Bengal, India

Date of Birth/Age :

12.12.1970

Qualification :

B.Com

Date of Appointment :

19.11.1992

PAN No.:

ACFPJ9304F

Voter ID No.:

WB/23/148/435477

DIN No.:

00529791

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	U51420WB1992PLC057036	NAVRAJ ENTERPRISES LIMITED	Director	19-11-92	19-11-92	-	Active	NO
2	U65921WB1987PTC041833	RIPON APARTMENTS PRIVATE LIMITED	Director	20-12-94	20-12-94	-	Active	NO
3	U70200WB1995PTC071759	NAVRAJ CONSTRUCTION PRIVATE LIMITED	Director	24-05-95	24-05-95	-	Active	NO
4	U13100WB1995PTC072805	NAVRAJ ISPAT PRIVATE LIMITED	Director	11-07-95	11-07-95	-	Active	NO
5	U51109WB2005PTC102551	JAI DURGA SUPPLIERS PRIVATE LIMITED	Director	29-03-05	29-03-05	-	Active	NO
6	U51109WB2005PTC102545	DEVIKA VANIJYA PRIVATE LIMITED	Director	29-03-05	29-03-05	-	Active	NO
7	U51109WB2005PTC102548	YASHRAJ VINIMAY PRIVATE LIMITED	Director	29-03-05	29-03-05	-	Active	NO
8	U51109WB2005PTC102549	NAVIN DEALERS PRIVATE LIMITED	Director	29-03-05	29-03-05	-	Active	NO
9	U51109WB2006PTC109248	GOVIND DEALERS PRIVATE LIMITED	Director	09-05-06	09-05-06	-	Active	NO
10	U51109WB2006PTC109219	YASH VINCOM PRIVATE LIMITED	Director	09-05-06	09-05-06	-	Active	NO
11	U51109WB2006PTC109242	MAA DURGA DEALERS PRIVATE LIMITED	Director	09-05-06	09-05-06	-	Active	NO
12	U51109WB2006PTC109236	SNEHA SUPPLIERS PRIVATE LIMITED	Director	09-05-06	09-05-06	-	Active	NO
13	U51109WB2006PTC109238	INDU VINIMAY PRIVATE LIMITED	Director	09-05-06	09-05-06	-	Active	NO
14	U51109WB2006PTC109241	SARADA VINIMAY PRIVATE LIMITED	Director	09-05-06	09-05-06	-	Active	NO
15	U14219WB2007PTC115065	NAVRAJ MINES AND MINERALS PRIVATE LIMITED	Director	09-04-07	09-04-07	21-09-09	Active	NO
16	U51109WB2005PTC102566	SHREE GAJRAJ VANIJYA PRIVATE LIMITED	Director appointed in casual vacancy	18-03-08	18-03-08	-	Active	NO
17	U51101WB2010PTC146839	SHREEHARI TIE-UP PRIVATE LIMITED	Director	06-05-10	06-05-10	-	Active	NO

Name :

Mr. Rajesh Jhunjhunwala

Designation :

Director

Address :

10/4, Alipore Park Place, Kolkata-700027, West Bengal, India

Date of Birth/Age :

23.06.1963

Qualification :

B. Com

Date of Appointment :

19.11.1992

PAN No.:

ACFPJ8665D

Voter ID No.:

WB/23/14/435475

DIN No.:

00529709

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	U51420WB1992PLC057036	NAVRAJ ENTERPRISES LIMITED	Director	19-11-92	19-11-92	-	Active	NO
2	U65921WB1987PTC041833	RIPON APARTMENTS PRIVATE LIMITED	Director	20-12-94	20-12-94	-	Active	NO
3	U70200WB1995PTC071759	NAVRAJ CONSTRUCTION PRIVATE LIMITED	Director	24-05-95	24-05-95	-	Active	NO
4	U13100WB1995PTC072805	NAVRAJ ISPAT PRIVATE LIMITED	Director	11-07-95	11-07-95	-	Active	NO
5	U70101WB1964PTC026283	YANTRAM PROPERTIES PRIVATE LIMITED	Director	31-03-00	31-03-00	-	Active	NO
6	U51109WB2005PTC102546	ADITI VYAPAAR PRIVATE LIMITED	Director	29-03-05	29-03-05	-	Active	NO
7	U51909WB2005PTC102527	SNEHRAJ SUPPLIERS PRIVATE LIMITED	Director	29-03-05	29-03-05	-	Active	NO
8	U51109WB2005PTC102547	RAJESH DEALERS PRIVATE LIMITED	Director	29-03-05	29-03-05	-	Active	NO
9	U51109WB2005PTC102580	HARIPRASAD VINIMAY PRIVATE LIMITED	Director	31-03-05	31-03-05	-	Active	NO
10	U51109WB2006PTC109246	ADITI DEALERS PVT LTD	Director	09-05-06	09-05-06	-	Active	NO
11	U51109WB2006PTC109240	RAJSTHAN VINIJYA PRIVATE LIMITED	Director	09-05-06	09-05-06	-	Active	NO
12	U51109WB2006PTC109247	SONALI DEALCOMM PRIVATE LIMITED	Director	09-05-06	09-05-06	-	Active	NO
13	U51109WB2006PTC109248	GOVIND DEALERS PRIVATE LIMITED	Director	09-05-06	09-05-06	-	Active	NO
14	U51109WB2006PTC109239	RAJESH SUPPLIERS PRIVATE LIMITED	Director	09-05-06	09-05-06	-	Active	NO
15	U14219WB2007PTC115065	NAVRAJ MINES AND MINERALS PRIVATE LIMITED	Director	09-04-07	09-04-07	21-09-09	Active	NO
16	U52599WB2005PTC102524	HANUMAN SUPPLY CHAIN PRIVATE LIMITED	Additional director	10-03-08	10-03-08	-	Active	NO
17	L24112WB1973PLC029102	ELLENBARRIE INDUSTRIAL GASES LIMITED	Director	01-10-09	23-07-09	12-05-11	Active	NO
18	U51101WB2010PTC146840	SHREEHARI COMMOTRADE PRIVATE LIMITED	Director	06-05-10	06-05-10	-	Active	NO
19	U70102WB2010PLC150052	ELLENBARRIE REAL ESTATE LIMITED	Director	31-05-10	31-05-10	-	Under Process of Striking off	NO

KEY EXECUTIVES

Name :	Mr. Deepak
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Navin Jhunjhunwala	980100
Rajesh Jhunjhunwala	985600
Indu Jhunjhunwala	412500
Sonali Jhunjhunwala	495000
Navin Jhunjhunwala HUF	1072500
Rajesh Jhunjhunwala HUF	1045000
Palak Tradelinks Private Limited, India	30000
Crystal Sharebroking Private Limited, India	40000
Kaypee Infocom Private Limited, India	30000
Palak Sarees Trading Private Limited, India	30000
Shreehari Commotrade Private Limited, India	100000
Shreehari Tie-up Private Limited, India	100000
Total	5320700

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	6.20
Directors or relatives of Directors	93.80
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Ferrous and Non Ferrous Metal.

Products :

Item Code No. (ITC Code)	Product Description
790111.00 and 760110.10	Unwrought Zinc and Aluminium Not Alloyed

Imports :

Products :

· Non Ferrous

PVC

Iron

Steel

Countries :

· Taiwan

France

Korea

Singapore

Terms :

Selling :

Cash and Credit (30 days and 60 days)

Purchasing :

L/C, Cash and Credit (30 days and 60 days)

GENERAL INFORMATION

Customers :	Wholesalers and OEM’s
No. of Employees :	13 (Approximately)
Bankers :	Bank of Baroda Brabourne Road Branch, 4, Brabourne Road, Kolkata - 700001, West Bengal, India

Banking Relations :	--
Auditors :
Name :	U. Narain and Company Chartered Accountants
Address :	27, Brabourne Road, 5^th Floor, Room No. 503 , Kolkata-700001, West Bengal, India
PAN No.:	AFKPM3994A
Associates :	Ripon Apartments Private Limited, India U65921WB1987PTC041833

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
11000000	Equity Shares	Rs.10/- each	Rs. 110.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5320700	Equity Shares	Rs.10/- each	Rs. 53.207 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	53.207	53.207
(b) Reserves & Surplus	91.989	90.394
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.011
Total Shareholders’ Funds (1) + (2)	145.196	143.612
(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	0.909	0.775
Total Non-current Liabilities (3)	0.909	0.775
(4) Current Liabilities
(a) Short term borrowings	0.070	0.076
(b) Trade payables	16.501	25.883
(c) Other current liabilities	12.438	7.262
(d) Short-term provisions	0.047	0.001
Total Current Liabilities (4)	29.056	33.222
TOTAL	175.161	177.609
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.072	2.302
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.026	0.026
(c) Deferred tax assets (net)	0.100	0.056
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	2.500	0.000
Total Non-Current Assets	4.698	2.384
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	80.705	72.109
(c) Trade receivables	74.317	80.208
(d) Cash and cash equivalents	1.116	16.370
(e) Short-term loans and advances	14.282	6.410
(f) Other current assets	0.043	0.128
Total Current Assets	170.463	175.225
TOTAL	175.161	177.609

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		53.207
2] Share Application Money		0.011
3] Reserves & Surplus		88.919
4] (Accumulated Losses)		0.000
NETWORTH		142.137
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.076
TOTAL BORROWING		0.076
DEFERRED TAX LIABILITIES		0.025
TOTAL		142.238
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.562
Capital work-in-progress		0.000
INVESTMENT		0.026
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	53.121
	Sundry Debtors	58.509
	Cash & Bank Balances	18.317
	Other Current Assets	1.136
	Loans & Advances	13.543
Total Current Assets		144.626
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	3.088
	Provisions	1.888
Total Current Liabilities		4.976
Net Current Assets		139.650
MISCELLANEOUS EXPENSES		0.000
TOTAL		142.238

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1694.486	1600.256	1086.892
		Other Income	0.917	0.908	1.053
		TOTAL (A)	1695.403	1601.164	1087.945
Less	EXPENSES
		Purchases of stock-in-trade	1678.269	1602.560
		Employee benefit expense	2.430	2.466
		Other expenses	12.028	9.571
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(8.596)	(18.988)
		TOTAL (B)	1684.131	1595.609	1082.568
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		11.272	5.555	5.377
Less	FINANCIAL EXPENSES (D)		8.865	3.380	2.741
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.407	2.175	2.636
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.348	0.334	0.391
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		2.059	1.841	2.245
Less	TAX (H)		0.465	0.365	0.520
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		1.594	1.476	1.725
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.686	0.710	0.485
Less	APPROPRIATIONS
		Transfer to General Reserve	1.500	1.500	1.500
	BALANCE CARRIED TO THE B/S		0.780	0.686	0.710
	IMPORTS
		Trading Goods	NA	57.528	0.000
	TOTAL IMPORTS		NA	57.528	0.000
	Earnings / (Loss) Per Share (Rs.)		0.30	0.28	0.33

Particulars	31.03.2013
Sales Turnover (Approximately)	1800.000

Expected Sales (2013-2014) : Rs. 1900.000 millions

The above information has been parted by Mr. Deepak (Manager)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.09	0.09	0.16
Net Profit Margin (PBT/Sales)	(%)	0.12	0.12	0.21
Return on Total Assets (PBT/Total Assets}	(%)	1.18	1.04	1.53
Return on Investment (ROI) (PBT/Networth)		0.01	0.01	0.02
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		36.28	73.50	29.06

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

PERFORMANCE

The Company’s main activity is the trading of Ferrous and Non Ferrous Metal. During the year the turnover has been increased. The overall performance of the company was satisfactory.

UNSECURED LOANS

Particulars	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
Short Term Borrowings
Unsecured loans from body corporate	0.070	0.076
Total	0.070	0.076

FIXED ASSETS

· Office Equipment

Motor Car

Electrical Fittings

Furniture and Fixtures

Computers

Weighment Platform

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.35
UK Pound	1	Rs.92.11
Euro	1	Rs.78.59

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--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

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.