1. Summary Information

		Country	India
Company Name	mpp technologies private limited	Principal Name 1	Mr. Mohandas Dejoo Shetty
Status	Satisfactory	Principal Name 2	Mr. Malleshaiah Devarajaiah
		Registration #	08-022626
Street Address	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka
Established Date	08.08.1997	SIC Code	--
Telephone#	91-80-41171187 / 41177523	Business Style 1	Manufacturer
Fax #	91-80-28362704	Business Style 2	Importer
Homepage	http://www.mpptechnologies.com	Product Name 1	Transfer Tank
# of employees	Not Available	Product Name 2	Panel Doors
Paid up capital	Rs. 48,883,200 /-	Product Name 3	--
Shareholders	Bodies corporate - 0.10 % Directors or relatives of Directors - 98.43% Other Fifty Shareholder – 1.47 %	Banking	State Bank of India
Public Limited Corp.	No	Business Period	16 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (42)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	286,602,000	Current Liabilities	157,669,000
Inventories	164,222,000	Long-term Liabilities	233,496,000
Fixed Assets	174,606,000	Other Liabilities	23,656,000
Deferred Assets	0,000	Total Liabilities	414,821,000
Invest& other Assets	1,138,000	Retained Earnings	162,864,000
		Net Worth	211,747,000
Total Assets	626,568,000	Total Liab. & Equity	626,568,000
Total Assets (Previous Year)	548,577,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	923,700,000	Net Profit	35,100,000
Sales(Previous yr)	824,436,000	Net Profit(Prev.yr)	36,231,000

MIRA INFORM REPORT

Report Date :

04.05.2013

IDENTIFICATION DETAILS

Name :	mpp technologies private limited
Registered Office :	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.08.1997
Com. Reg. No.:	08-022626
Capital Investment / Paid-up Capital :	Rs. 48.883 Millions
CIN No.: [Company Identification No.]	U31909KA1997PTC022626
TAN No.: [Tax Deduction & Collection Account No.]	BLRM01402C
PAN No.: [Permanent Account No.]	AABCM8851H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Importer and Exporter of all types of Heat Exchangers, Transformers, Radiators and Other Heat Exchangers Systems.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 840000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. The management have fair to file its financial for the year 2012 with the government department. As per previous year, the performance seems to be good. Trade relations are reported to be failed. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for 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 – 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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Term Loan: BBB +
Date	January 2013

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 :	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka, India
Tel. No.:	91-80-41171187 / 41177523 / 28361567
Mobile No.:	91-9886234972 (Hariprasad Rai A)
Fax No.:	91-80-28362704
E-Mail :	info@mpptechnolgies.com rai@mpptechnolgies.com mpp00ttp@vsnl.net info@ttpraditors.com mvprasanna@ttpradiators.com devaraj@mpptechnolgies.com
Website :	http://www.mpptechnologies.com
Corporate Office :	A 153 and 154, III Cross, 1^st Stage, Peenya Industrial Estate, Bangalore - 560 058, Karnataka, India
Factory :	B-233, 2^nd Stage, Peenya Industrial Estate, Bangalore - 560 058, Karnataka, India

DIRECTORS

As on 29.07.2011

Name :

Mr. Mohandas Dejoo Shetty

Designation :

Managing Director

Address :

No. 41, Kuteera, 80 Feet Road, New Thippasandra Post, Bangalore – 560 075, Karnataka, India

Date of Birth/Age :

24.11.1943

Qualification :

BE (Mech), MS (USA)

Date of Appointment :

08.08.1997

DIN No.:

00924611

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	U31909KA1982PTC004963	TTP TECHNOLOGIES PRIVATE LIMITED	Managing director	22/09/1982	22/09/1982	-	Active	NO
2	U31909KA1997PTC022626	MPP TECHNOLOGIES PRIVATE LIMITED	Managing director	08/08/1997	08/08/1997	-	Active	NO

Name :

Mr. Malleshaiah Devarajaiah

Designation :

Director

Address :

No. 228, 15^th Cross, 2^nd Stage, 2^nd Phase, Mahalakshmi Layout, Bangalore – 560 086, Karnataka, India

Date of Birth/Age :

24.05.1955

Date of Appointment :

31/03/1998

DIN No.:

00628413

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	U31909KA1997PTC022626	MPP TECHNOLOGIES PRIVATE LIMITED	Director	31/03/1998	31/03/1998	-	Active	NO
2	U31909KA1986PTC007664	PARAGON METALEX PRIVATE LIMITED	Director	31/03/1998	31/03/1998	-	Active	NO
3	U31909KA1982PTC004963	TTP TECHNOLOGIES PRIVATE LIMITED	Director	31/03/1998	31/03/1998	-	Active	NO

Name :

Mr. Hannah Mohandas Shetty

Designation :

Director

Address :

No. 41, Kuteera 80, Feet Road, New Thippasandra Post, Bangalore – 560 075, Karnataka, India

Date of Birth/Age :

18.12.1948

Date of Appointment :

08.08.1997

DIN No.:

00628512

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	U31909KA1982PTC004963	TTP TECHNOLOGIES PRIVATE LIMITED	Director	22/09/1982	22/09/1982	-	Active	NO
2	U31909KA1986PTC007664	PARAGON METALEX PRIVATE LIMITED	Managing director	20/06/1986	20/06/1986	-	Active	NO
3	U24222KA1996PTC020822	PROTECTIVE COATINGS PRIVATE LIMITED	Managing director	16/07/1996	16/07/1996	-	Active	NO
4	U31909KA1997PTC022626	MPP TECHNOLOGIES PRIVATE LIMITED	Director	08/08/1997	08/08/1997	-	Active	NO

Name :

Mrs. Susheela Bujanga Hegde

Designation :

Director

Address :

# 14, Church Street, Shanthi Nagar, Bangalore – 560 026, Karnataka, India

Date of Birth/Age :

29.03.1923

Date of Appointment :

08.08.1997

DIN No.:

00628587

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	U31909KA1986PTC007664	PARAGON METALEX PRIVATE LIMITED	Director	20/06/1986	20/06/1986	-	Active	NO
2	U31909KA1997PTC022626	MPP TECHNOLOGIES PRIVATE LIMITED	Director	08/08/1997	08/08/1997	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.07.2011

Names of Shareholders	No. of Shares
Mohandas Dejoo Shetty	261760
Hannah Mohandas Shetty	160000
Renee Mohandas Shetty	3500
Ashok Dejoo Shetty	500
Malleshaiah Devarajaiah	500
Harishchandra Dejoo Shetty	50
Shivarudraiah	50
Saraswathi A Shetty	50
Pushpalatha H Shetty	50
Sameer Shetty	54882
Devi Shanthala Br.	50
Sathyendra Sujatha	50
Sathyendra	50
Rajendra	50
Saraswathi Rajendra	50
AP Kriahna Kumar	50
NN Shyamala	50
Thamme Gowda	50
Shashikala Shivarudraiah	50
Harish C Panth	6540
TTP Technologies Private Limited, India	500
Total	488832

Equity Share Break up (Percentage of Total Equity)

As on 29.07.2011

Category	Percentage
Bodies corporate	0.10
Directors or relatives of Directors	98.43
Other top fifty shareholders	1.47
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Importer and Exporter of all types of Heat Exchangers, Transformers, Radiators and Other Heat Exchangers Systems.

PRODUCTION STATUS (As on: 31.03.2011)

Particulars	Unit	Actual Production (Including Labour Charges)
Control Panel Components	Nos. and Kgs	1075668.00
Stator Stacks and Pole Bricks, DBR Assembly	Nos.	5939.00
Transformer Tank and FWT (Local)	Nos. and Kgs	1850849.72
Transformer Tank and FWT (Export)	Nos. and Kgs	5021.00
Door and Door Frames	Nos.	17887.00
Scrap	Kgs	1198815.00

GENERAL INFORMATION

No. of Employees :

200 (Approximately)

Bankers :

• State Bank of India, Specialised MID Corporate Branch, No. 97, Railway Parallel Road, Kumarapark West, Bangalore 560020, Karnataka, India

Facilities :

Secured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
From State Bank of India
(A)Cash Credit (Including Bills Discounted) (secured by pledge / hypothecation of raw materials, semi finished goods and finished goods, bils, book debts and other receivables)	140.493	130.317
(B) Medium Term Loan (secured by equitable mortgage of land and building at Plot No. 81 Antharasanahalli, Tumkur and Land and Building at A – 153 and 154, I Stage, Peenya Industrial Estate, Bangalore 58 and Machinery Purchases therefrom)	47.830	69.954
From Others
Vehicles Loan (Secured by hypothecation of vehicles purchased )	8.210	0.502
Total	196.533	200.773
NOTE: In Addition to the above securities, additional securities have been taken as under: By State Bank of India Personal Guarantee from two Directors Equitable Mortgage of Land and Building at B 233, A 153 and 154 at II and I Stage, Peenya Industrial Estate, Bangalore. Equitable Mortgage of KIADB Land and Building at Plot No. 81, Antharasana Halli, on National High Way No. 4, Tumkur. Equitable Mortgage of KIADB Land and Building at Plot No. 48 & 49, Antharasana Halli, on National High Way No. 4, Tumkur. 2. The aggregate amount of secured Loans sanctioned (includind stand by Line of Credit)	0.000	292.600

Banking Relations :
Auditors :
Name :	K. G. Jayasimha Chartered Accountant
Address :	766, Sri Nivasa 36^th Cross, 18^th Main, 4^th Block, Jayanagar, Bangalore – 560041, Karnataka, India
PAN.:	AAKPY2581P

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
488832	Equity Shares	Rs.100/- each	Rs. 48.883 Millions

NOTE:

1) Of the above :

1) 100,000 Equity Shares are allotted as fully paid – up pursuant to a contract without Payments being received in cash

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		48.883	48.883	48.883
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		162.864	127.721	91.490
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		211.747	176.604	140.373
LOAN FUNDS
1] Secured Loans		196.533	200.773	171.121
2] Unsecured Loans		36.963	34.289	36.313
TOTAL BORROWING		233.496	235.062	207.434
DEFERRED TAX LIABILITIES		4.948	5.934	7.898
TOTAL		450.191	417.600	355.705
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		174.606	168.026	169.777
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.557	0.557	0.557
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	164.222	99.680	81.101
	Sundry Debtors	231.411	195.023	165.869
	Cash & Bank Balances	11.336	18.932	17.652
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	43.855	66.335	60.252
Total Current Assets		450.824	379.970	324.874
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	153.171	88.742	86.503
	Other Current Liabilities	4.498	4.157	15.695
	Provisions	18.708	38.078	37.376
Total Current Liabilities		176.377	130.977	139.574
Net Current Assets		274.447	248.993	185.300
MISCELLANEOUS EXPENSES		0.581	0.024	0.071
TOTAL		450.191	417.600	355.705

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2011	31.03.2010	31.03.2009
	SALES
			Income	923.700	824.436	721.425
			Other Income	7.600	8.010	9.671
			TOTAL (A)	931.300	832.446	731.096
Less	EXPENSES
		Materials			484.186	393.655
		Operative Expenses			161.563	151.116
		Directors Expenses and Allowances			8.154	7.143
		Administrative Expenses			8.862	5.784
		Selling and distribution Expenses			46.136	36.530
		Auditor’s Remuneration			0.084	0.079
		Small Balance Written /Off			0.001	0.041
		TOTAL (B)		819.200	708.986	594.347
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			112.100	123.460	136.749
Less	FINANCIAL EXPENSES (D)			27.500	37.970	49.265
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			84.600	85.490	87.484
Less/ Add	DEPRECIATION/ AMORTISATION (F)			31.300	30.299	35.743
	PROFIT BEFORE TAX (E-F) (G)			53.300	55.191	51.741
Less	TAX (H)			18.200	18.960	23.578
	PROFIT AFTER TAX (G-H) (I)			35.100	36.231	28.163
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			121.631	85.400	NA
	BALANCE CARRIED TO THE B/S			156.731	121.631	85.400
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	186.037	139.442	164.479
	TOTAL EARNINGS			186.037	139.442	164.479
	IMPORTS
			Raw Materials	115.668	34.752	5.002
			Spares and Machine	2.954	2.347	2.668
			Consumables	7.493	2.869	3.033
			Capital Goods	8.818	14.727	18.326
			Packing Material	0.706	0.000	0.000
	TOTAL IMPORTS			135.639	54.695	29.029
	Earnings Per Share (Rs.)			71.89	74.12	57.61

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.77	4.35	3.85
Net Profit Margin (PBT/Sales)	(%)	5.77	6.69	7.17
Return on Total Assets (PBT/Total Assets}	(%)	11.82	10.07	10.46
Return on Investment (ROI) (PBT/Networth)		0.25	0.31	0.37
Debt Equity Ratio (Total Debt /Networth)		1.10	1.33	1.48
Current Ratio (Current Asset/Current Liability)		2.56	2.90	2.33

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	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	No
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	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	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

Unsecured Loan	31.03.2011 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
From Directors	12.963	10.289
From Crompton Greaves Limited	24.000	24.000
From Others	0.000	0.000
Total	36.963	34.289

FINANCIAL PERFORMANCE

Sales Turnover

During the year the company achieved Net Sales of Rs. 923.700 millions, registering a growth of 12.05% over the previous year.

The Company’s strategic initiatives aimed at a more balanced portfolio in terms of increased customer base and product lines are yielding good results. The growth as compared to the preceding year has been achieved despite stiff competition both in the domestic and export markets coupled with recessionary conditions which continued to prevail during the first half of the year. Having consolidated the market position in the existing product lines, the company's efforts in various directions, such as widening customer base, entering new markets and introducing new product range has contributed to the growth in sales revenue. The sales revenue has been steadily growing year over year with an average growth of 29.75% in the last 6 years.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U31909KA1997PTC022626
Name of the company	mpp technologies private limited
Address of the registered office or of the principal place of business in India of the company	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	Immovable property
Type of charge	80016225
CIN:	U31909KA1997PTC022626
Particular of charge holder	State Bank of India, Specialised MID Corporate Branch, No. 97, Railway Parallel Road, Kumarapark West, Bangalore - 560020, Karnataka, India
Nature of instrument creating charge	FORM B
Date of instrument Creating the charge	10.11.2012
Amount secured by the charge	Rs.902.400 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC : Int @ 2.75% above base rate, present effective rate12.5% p.a TL1/2 and One time CC: Int @ 2.85% above base rate, present effective rate12.6% p.a EPC and SLC Terms of Repayment TL 1 : Repayable as per the original sanctioned repayment schedule. TL 2 : Repayable in 60 monthly installments commencing from April 2012 as per schedule One time CC : Repayable in 30 monthly installments commencing from April 2013 as per schedule Margin CC : 25% LC : 10% BG : 10% Extent and Operation of the charge Charge extends by way of first charge on all the assets throughout the period of sanctioned limits Others EM of Industrial Shed No. B 264, 2nd Stage, Peenya Industrial Area, Bangalore land measuring 5286 Sft with built up area of 2906 Sft belonging to Mr. M. D. Shetty.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Extn of EM on co's immovable properties comprising of Industrial Area and Shed situated at No. A 153 and 154, 3rd Cross, 1st Stage, Peenya Industrial Area, Bangalore measuring 18657 Sft with built up area of 14925 Sft towards various credit facilities sanctioned to M/s. TTP Technologies Private Limited.
Date of instrument modifying the charge	19.10.2012
Particulars of the present modification	Total limits enhanced to Rs. 902.400 Millions. Extn of EM on co's immovable properties comprising of Industrial Area and Shed situated at No. A 153 and 154, 3rd Cross, 1st Stage, Peenya Industrial Area, Bangalore towards various credit facilities sanctioned to M/s. TTP Technologies Private Limited.

FIXED ASSETS

· Land and Building

· Furniture and Fixtures

· Plant and Machinery

· Tools and Equipments

· Office Equipments

· Computer and Peripherals

· Type Writer

· Vehicles

· Cycle

· Material Lift

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.53.95
UK Pound	1	Rs.83.80
Euro	1	Rs.70.49

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.