MIRA INFORM REPORT

Report Date :

23.03.2013

IDENTIFICATION DETAILS

Name :	SURAKSHAPLUS INFRASTRUCTURE AND PROJECTS LIMITED
Registered Office :	A P Nagar, 2^nd Floor, P.O and P.S- Sonarpur, Kolkata-700150, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	21.10.2009
Com. Reg. No.:	21-138968
Capital Investment / Paid-up Capital :	Rs 6.131 Millions
CIN No.: [Company Identification No.]	U45400WB2009PLC138968
Legal Form :	A closely held public limited liability company.
Line of Business :	The company is engaged in trading activity.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 80000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record It has achieved better growth in its turnover during 2012 but the profitability appears to be low. The financial strength of the company appears moderate. However, trade relations are reported as fair. Business is active. Payments terms are slow. The company can be considered for business dealings with great 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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 DENIED BY

Name :	Mr. Soumen Mondal
Designation :	Finance Director
Contact No.:	91-9830949304
Date :	22.03.2013

LOCATIONS

Registered Office :	A P Nagar, 2^nd Floor, P.O and P.S- Sonapur, Kolkata-700150, West Bengal, India
Tel. No.:	Not Available
Fax No. :	Not Available
E-Mail :	Tufandas2011@gmail.com Anitabiswas2006@rediffmail.com Surakshaplus@gmail.com
Area :	1200 Sq. ft. (Rented)
Factory :	Barasul, Burdwan-713124, West Bengal, India
Tel. No.:	91-33-24347272

DIRECTORS

As on : 29.09.2012

Name :

Mr Sankar Pailan

Designation :

Director

Address :

Metiyari (Poyagazi Para), Pratap Nagar, Sonarpur, Kolkata-743369, 24 Parganas West Bengal, India

Date of Birth/Age :

05.09.1975

Date of Appointment :

21.10.2009

PAN No.:

AWTPP2649D

DIN No.:

02320639

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	U74140WB2009PTC132982	SURAKSHAPLUS SERVICES PRIVATE LIMITED	Director	20/02/2009	20/02/2009	-	Active	NO
2	U45400WB2009PLC138968	SURAKSHAPLUS INFRASTRUCTURE & PROJECTS LIMITED	Director	21/10/2009	21/10/2009	-	Active	NO
3	U45400WB2011PLC164247	SURAKSHAPLUS CONSTRUCTION LIMITED	Director	27/06/2011	27/06/2011	-	Active	NO
4	U70102UP2012PLC049746	SURAKSHAPLUS INTERNATIONAL LIMITED	Director	09/04/2012	09/04/2012	-	Active	NO
5	U45200MP2012PLC028478	SURAKSHAPLUS REALTY INDIA LIMITED	Managing director	21/05/2012	21/05/2012	-	Active	NO
6	U74999WB2012PTC182068	SURAKSHAPLUS MEDIA & FILM PRIVATE LIMITED	Director	24/05/2012	24/05/2012	-	Active	NO
7	U01403WB2012PTC185528	SURAKSHAPLUS AGRO PROJECTS PRIVATE LIMITED	Director	05/09/2012	05/09/2012	-	Active	NO
8	U01400AS2012PLC011254	SURAKSHAPLUS ALLIED INDUSTRIES LIMITED	Director	07/09/2012	07/09/2012	-	Active	NO
9	U65991JH2012PLC000734	SURAKSHAPLUS FINVEST MUTUAL BENEFIT LIMITED	Director	10/10/2012	10/10/2012	-	Active	NO
10	U51909WB2011PTC166737	SURAKSHAPLUS EXPORTS PRIVATE LIMITED	Director	01/12/2012	01/12/2012	-	Active	NO
11	U63040WB2011PTC166311	SURAKSHAPLUS TOUR & TRAVELS PRIVATE LIMITED	Director	25/02/2013	25/02/2013	-	Active	NO

Name :

Mr Nityanand Baidya

Designation :

Director

Address :

174, Biswas Para, Madhya Sitakundu, Baruipur, Ramnagar, Kolkata-743387, West Bengal, India

Date of Birth/Age :

19.04.1972

Date of Appointment :

21.10.2009

PAN No.:

AQUIPB5313P

DIN No.:

02320722

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	U74140WB2009PTC132982	SURAKSHAPLUS SERVICES PRIVATE LIMITED	Director	20/02/2009	20/02/2009	-	Active	NO
2	U45400WB2009PLC138968	SURAKSHAPLUS INFRASTRUCTURE & PROJECTS LIMITED	Director	21/10/2009	21/10/2009	-	Active	NO
3	U45400WB2011PLC164247	SURAKSHAPLUS CONSTRUCTION LIMITED	Director	27/06/2011	27/06/2011	-	Active	NO
4	U63040WB2011PTC166311	SURAKSHAPLUS TOUR & TRAVELS PRIVATE LIMITED	Director	11/08/2011	11/08/2011	-	Active	NO
5	U70102UP2012PLC049746	SURAKSHAPLUS INTERNATIONAL LIMITED	Director	09/04/2012	09/04/2012	-	Active	NO
6	U45200MP2012PLC028478	SURAKSHAPLUS REALTY INDIA LIMITED	Director	21/05/2012	21/05/2012	-	Active	NO
7	U74999WB2012PTC182068	SURAKSHAPLUS MEDIA & FILM PRIVATE LIMITED	Director	24/05/2012	24/05/2012	-	Active	NO
8	U01403WB2012PTC185528	SURAKSHAPLUS AGRO PROJECTS PRIVATE LIMITED	Director	05/09/2012	05/09/2012	-	Active	NO

Name :

Mr Saumen Mondal

Designation :

Director

Address :

Vill and P.o. Protapnagar, P.S Sonarpur, 24 Parganas, Kolkata-743330, West Bengal, India

Date of Birth/Age :

26.10.1975

Date of Appointment :

21.10.2009

PAN No.:

AVZPM5268J

DIN No.:

02377959

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	U74140WB2009PTC132982	SURAKSHAPLUS SERVICES PRIVATE LIMITED	Director	20/02/2009	20/02/2009	-	Active	NO
2	U45400WB2009PLC138968	SURAKSHAPLUS INFRASTRUCTURE & PROJECTS LIMITED	Director	21/10/2009	21/10/2009	-	Active	NO
3	U80900WB2011PTC159709	ACHIEVIST CAREER ACADEMY PRIVATE LIMITED	Director	23/02/2011	23/02/2011	-	Active	NO
4	U45400WB2011PLC164247	SURAKSHAPLUS CONSTRUCTION LIMITED	Director	27/06/2011	27/06/2011	-	Active	NO
5	U63040WB2011PTC166311	SURAKSHAPLUS TOUR & TRAVELS PRIVATE LIMITED	Director	11/08/2011	11/08/2011	-	Active	NO
6	U70102UP2012PLC049746	SURAKSHAPLUS INTERNATIONAL LIMITED	Director	09/04/2012	09/04/2012	-	Active	NO
7	U45200MP2012PLC028478	SURAKSHAPLUS REALTY INDIA LIMITED	Director	21/05/2012	21/05/2012	-	Active	NO
8	U01403WB2012PTC185528	SURAKSHAPLUS AGRO PROJECTS PRIVATE LIMITED	Director	05/09/2012	05/09/2012	-	Active	NO
9	U01400AS2012PLC011254	SURAKSHAPLUS ALLIED INDUSTRIES LIMITED	Director	07/09/2012	07/09/2012	-	Active	NO
10	U65991JH2012PLC000734	SURAKSHAPLUS FINVEST MUTUAL BENEFIT LIMITED	Director	10/10/2012	10/10/2012	-	Active	NO
11	U51909WB2011PTC166737	SURAKSHAPLUS EXPORTS PRIVATE LIMITED	Director	01/12/2012	01/12/2012	-	Active	NO

Name :

Mr Ratan Naskar

Designation :

Director

Address :

Kebayetpur, South Garia-1, Baruipur-743387, 24 Parganas, West Bengal, India

Date of Birth/Age :

10.02.1967

Date of Appointment :

16.08.2010

PAN No.:

AHGPN9138H

DIN No.:

02378083

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	U74140WB2009PTC132982	SURAKSHAPLUS SERVICES PRIVATE LIMITED	Director	20/02/2009	20/02/2009	-	Active	NO
2	U45400WB2009PLC138968	SURAKSHAPLUS INFRASTRUCTURE & PROJECTS LIMITED	Director	16/08/2010	16/08/2010	-	Active	NO
3	U70109WB2011PLC168467	JIVAN UNNAYAN INFRAPROJECTS LIMITED	Director	01/08/2012	01/08/2012	-	Active	NO

Name :

Mr Giri Dhari Naskar

Designation :

Director

Address :

Dhap Dhopi, Baruipur, Kolkata-700144, 24 Parganas, West Bengal,India

Date of Birth/Age :

21.06.1968

Date of Appointment :

16.08.2010

DIN No.:

02726319

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	U45400WB2009PLC138968	SURAKSHAPLUS INFRASTRUCTURE & PROJECTS LIMITED	Director	16/08/2010	16/08/2010	-	Active	NO
2	U51909WB2011PTC166737	SURAKSHAPLUS EXPORTS PRIVATE LIMITED	Director	24/08/2011	24/08/2011	-	Active	NO
3	U72200WB2012PTC185477	SONARTORI WEBSOFT PRIVATE LIMITED	Director	04/09/2012	04/09/2012	-	Active	NO
4	U70109WB2012PLC181865	SONARTORI INFRAPROJECTS LIMITED	Additional director	11/09/2012	11/09/2012	-	Active	NO
5	U63090WB2012PTC188342	SONARTORI TOUR & TRAVELS PRIVATE LIMITED	Director	16/11/2012	16/11/2012	-	Active	NO

Name :

Mr Sadhon Bachhar

Designation :

Director

Address :

Vill- Nakurait, P.O- Mabhapur, Bhangar-743502, 24 Parganas, West Bengal, India

Date of Birth/Age :

05.04.1983

Date of Appointment :

16.08.2010

DIN No.:

02863656

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	U45400WB2009PLC138968	SURAKSHAPLUS INFRASTRUCTURE & PROJECTS LIMITED	Director	16/08/2010	16/08/2010	-	Active	NO
2	U51909WB2011PTC166737	SURAKSHAPLUS EXPORTS PRIVATE LIMITED	Director	24/08/2011	24/08/2011	-	Active	NO
3	U01403WB2012PTC185528	SURAKSHAPLUS AGRO PROJECTS PRIVATE LIMITED	Director	05/09/2012	05/09/2012	-	Active	NO
4	U65991JH2012PLC000734	SURAKSHAPLUS FINVEST MUTUAL BENEFIT LIMITED	Director	10/10/2012	10/10/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON : 29.09.2012

Names of Shareholders	No. of Equity Shares
Mr Sankar Pailan	9500
Mr Nityanand Baidya	9500
Mr Ratan Naskar	9500
Mr Saumen Mondal	9500
Mr Yousuf Molla	100
Mr giri Dhari Naskar	9500
Mr Sadhan Bachhar	2400
Mr Charan Sardar	9500
Total	59500

Names of Shareholders	No. of Preference Shares
Mr Charan Sardar	1000
Mr Rasida Bibi	500
Mr Bablu Piyada	100
Mr Meherun Nechha Bibi Molla (House wife)	500
Mr Jatish Ch Piyada Business	3000
Mr Giridhari Naskar Business	2500
Mr Sadhon Bachhar Business	3000
Mr Sadhon Bachhar Business	500
Mr Rajesh Biswas	1000
Mr Abur Ali Laskar	100
Mr Jhuma Das	700
Mr Chandan Mondal	100
Mrs Basanti Naskar	150
Mr Krishna Naskar	500
Mrs Menaka Naskar	700

EQUITY SHARE BREAK UP (PERCENTAGE OF TOTAL EQUITY)

AS ON : 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company Is Engaged In Trading Activity

GENERAL INFORMATION

No. of Employees :	Not Divulged
Bankers :	UCO Bank Bank of India Axis Bank Limited, Baruipur Branch Account No: 909020040969833

Auditors :
Name :	K Ray and Associates Chartered Accountant
Address :	20/06/1, Grahams Lane, Tallygunge, Kolkata-700040, West Bengal, India
Tel No:	91-33-24321038
Mobile No:	91-9831153475
PAN No.:	AAGFK2904H
Company in which KMP / Relatives of KMP can exercise significant influence :	· Surakshaplus Construction Limited · Surakshaplus Exports Private Limited · Srakshaplus Services Private Limited

CAPITAL STRUCTURE

As on : 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs 10/- each	Rs. 2.000 Millions
4000000	Preference Shares	Rs 10/- each	Rs. 40.000 Millions
	Total		Rs 42.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
59500	Equity Shares	Rs 10/- each	Rs. 0.595 Million
553600	Preference Shares	Rs 10/- each	Rs. 5.536 Millions
	Total		Rs 6.131 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		6.131	4.937	1.849
2] Share Application Money		14.196	6.784	0.000
3] Reserves & Surplus		0.058	(0.058)	(0.096)
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		20.385	11.663	1.753
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.004	0.001	0.000
TOTAL		20.389	11.664	1.753
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		11.007	7.786	1.449
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.108	0.145	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.102	0.525	0.000
	Sundry Debtors	0.000	0.118	0.000
	Cash & Bank Balances	9.223	3.445	0.126
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.015	0.015	0.000
Total Current Assets		9.340	4.103	0.126
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.079	0.000
	Other Current Liabilities	0.018	0.275	0.003
	Provisions	0.048	0.016	0.000
Total Current Liabilities		0.066	0.370	0.003
Net Current Assets		9.274	3.733	0.123
MISCELLANEOUS EXPENSES		0.000	0.000	0.181
TOTAL		20.389	11.664	1.753

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	22.232	4.425	0.000
		Other Income	0.000	0.000	0.000
		TOTAL (A)	22.232	4.425	0.000
Less	EXPENSES
		Purchase of Stock In Trade	18.532	3.162	0.000
		Employee benefits expense	0.960	0.163	0.018
		Other Expenses	2.194	0.539	0.078
		TOTAL (B)	21.686	3.864	0.096
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.546	0.561	(0.096)
Less	FINANCIAL EXPENSES (D)		0.000	0.067	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.546	0.494	(0.096)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.378	0.440	0.000
	PROFIT BEFORE TAX (E-F) (G)		0.168	0.054	(0.096)
Less	TAX (I)		0.052	0.017	0.000
	PROFIT AFTER TAX (G-I) (J)		0.116	0.037	(0.096)
	Earnings Per Share (Rs.)
	Basic		1.96	0.63	NA
	Diluted		1.96	0.63	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.52	0.83	0.00
Net Profit Margin (PBT/Sales)	(%)	0.76	1.22	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.83	0.45	(6.09)
Return on Investment (ROI) (PBT/Networth)		0.01	0.01	(0.05)
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		141.52	11.08	42.00

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	(Yes)
2]	Locality of the firm	(Yes)
3]	Constitutions of the firm	(Yes)
4]	Premises details	(Yes)
5]	Type of Business	(Yes)
6]	Line of Business	(Yes)
7]	Promoter's background	(Yes)
8]	No. of employees	(No)
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	(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]	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	(No)

FIXED ASSETS:

Furniture and Fixture

Electric Equipments

Interior Decoration

Computer

Printer

Software

Office Equipments

Inverter

Machinery

Factory shed

Generator

Project Under Progress

Leasehold Tea Garden

NOTE:

The Registered Office of the company has been shifted from H C Sarani, Khirishtala, Sonarpur, Kolkata-700150, West Bengal, India to the present address w.e.f. 23.02.2012.

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. 54.34
UK Pound	1	Rs. 82.56
Euro	1	Rs. 70.10

INFORMATION DETAILS

Report Prepared by :

NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		30

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.