MIRA INFORM REPORT

Report Date :

22.05.2013

IDENTIFICATION DETAILS

Name :	K J S CEMENT LIMITED (w.e.f. 24.02.2009)
Formerly Known As :	K J S CEMENT PRIVATE LIMITED DIWAN LIME COMPANY PRIVATE LIMITED
Registered Office :	Ground Floor, Unit No. 005, Copia Corporate Suites, Jasola, New Delhi – 110044
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.05.1983
Com. Reg. No.:	55-015722
Capital Investment / Paid-up Capital :	Rs.118.590 Millions
CIN No.: [Company Identification No.]	U74899DL1983PLC015722
PAN No.: [Permanent Account No.]	AABCD5727F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Cement.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 13200000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a part of “Kamal Group”. It is an established company having a moderate track record. The financial for the year 2012 is not available. As per the previous year’s, the external borrowing seems to be huge. The rating also take into consideration the in regularities observed in debt servicing. However, trade relations are reported to be fair. Business is active. Payments are unknown. 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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Fund based bank facilities: D (This rating are in default or are expected to be in default soon.)
Date	May 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.

INFORMATION DENIED BY

Name :	Mr. Anand Prakash
Designation :	Manager
Contact No.:	91-7389945318
Date :	22.05.2013

LOCATIONS

Registered Office :	Ground Floor, Unit No - 005, Copia Corporate Suites, jasola, New Delhi – 110044, India
Tel. No.:	91-7674-292025
Mobile No.:	91-7389945318 (Mr. Anand Prakash)
Fax No.:	Not Available
E-Mail :	info@kjscement.com cs.darshit@kjscement.com
Website :	http://www.kjscement.com
Factory :	Rajnagar, Tehsil-Maihar, District Satna - 485771, Madhya Pradesh, India

DIRECTORS

As on: 29.09.2012

Name :

Mr. Pavan Kumar Ahluwalia

Designation :

Director

Address :

64, Gopal Bari, Jaipur – 302001, Rajasthan, India

Date of Birth/Age :

28.12.1954

Qualification :

Law Graduate

Date of Appointment :

15.02.2007

DIN No.:

00416077

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	U24117RJ1991PLC005891	KAMAL SPONGE STEEL AND POWER LIMITED	Director	27/03/1991	27/03/1991	-	Active	NO
2	U24119OR1989PLC002285	LOTUS CHEMICALS LIMITED	Director	25/01/1999	25/01/1999	-	Active	NO
3	U27106OR2003PTC007087	HIMA ISPAT PRIVATE LIMITED	Director	14/05/2003	14/05/2003	-	Active	NO
4	U74899DL1983PLC015722	K J S CEMENT LIMITED	Director	15/02/2007	15/02/2007	-	Active	NO
5	U70101RJ2005PTC021567	KJS IMPERIAL PROPERTIES PRIVATE LIMITED	Director	10/04/2007	10/04/2007	-	Active	NO
6	U45201RJ2007PTC024428	KAMAL MALLS AND RESIDENCIES PRIVATE LIMITED	Director	17/05/2007	17/05/2007	-	Active	NO
7	U52190RJ2007PTC024448	KAMAL PRIME FINVEST COMPANY PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
8	U72200RJ2007PTC024435	KAMAL-HIMA INFOTECH PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
9	U60221RJ2007PTC024439	KAMAL LOGISTICS PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
10	U45204RJ2007PTC024452	KAMAL TELECOM PRIVATE LIMITED	Director	21/05/2007	21/05/2007	-	Active	NO
11	U27107RJ2007PTC025203	KAMAL CORPORATION PRIVATE LIMITED	Director	22/10/2007	22/10/2007	-	Active	NO
12	U24117MP2002PTC015413	SARVESHWARI MINERALS PRIVATE LIMITED	Director	30/09/2009	26/02/2008	-	Active	NO
13	U10300DL2009PTC186321	THESGORA COAL PRIVATE LIMITED	Director	02/01/2009	02/01/2009	-	Active	NO
14	U72300WB2007PTC118551	PANKAJ INFOTECH PRIVATE LIMITED	Director	03/04/2013	03/04/2013	-	Active	NO
15	U24100WB2007PTC118521	PUNEET OILS AND CHEMICAL PRIVATE LIMTED	Director	04/04/2013	04/04/2013	-	Active	NO
16	U51909WB2007PTC119085	TANISH TRADECOM PRIVATE LIMITED	Director	05/04/2013	05/04/2013	-	Active	NO

Name :

Mr. Kamaljeet Singh Ahluwalia

Designation :

Additional Director

Address :

Post Box No. 3, At Post Barbil, Barbil – 758035, Orissa, India

Date of Birth/Age :

15.02.1944

Qualification :

Engineering

Date of Appointment :

20.03.2013

DIN No.:

00993178

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	U24117RJ1991PLC005891	KAMAL SPONGE STEEL AND POWER LIMITED	Director	27/03/1991	27/03/1991	16/03/2013	Active	NO
2	U45201OR1958NPL008546	EASTERN ZONE MINING ASSOCIATION	Director	05/09/2002	05/09/2002	-	Active	NO
3	U27106OR2003PTC007087	HIMA ISPAT PRIVATE LIMITED	Director	11/03/2003	11/03/2003	-	Active	NO
4	U70101RJ2005PTC021567	KJS IMPERIAL PROPERTIES PRIVATE LIMITED	Director	09/11/2005	09/11/2005	-	Active	NO
5	U74899DL1983PLC015722	K J S CEMENT LIMITED	Additional director	20/03/2013	15/02/2007	-	Active	NO
6	U45201RJ2007PTC024428	KAMAL MALLS AND RESIDENCIES PRIVATE LIMITED	Director	17/05/2007	17/05/2007	-	Active	NO
7	U52190RJ2007PTC024448	KAMAL PRIME FINVEST COMPANY PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
8	U72200RJ2007PTC024435	KAMAL-HIMA INFOTECH PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
9	U60221RJ2007PTC024439	KAMAL LOGISTICS PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
10	U45204RJ2007PTC024452	KAMAL TELECOM PRIVATE LIMITED	Director	21/05/2007	21/05/2007	-	Active	NO
11	U27107RJ2007PTC025203	KAMAL CORPORATION PRIVATE LIMITED	Director	22/10/2007	22/10/2007	-	Active	NO
12	U10300DL2009PTC186321	THESGORA COAL PRIVATE LIMITED	Director	02/01/2009	02/01/2009	-	Active	NO
13	U24117MP2002PTC015413	SARVESHWARI MINERALS PRIVATE LIMITED	Director	30/09/2009	20/05/2009	-	Active	NO
14	U70109DL2006PTC150360	KJS COLONIZERS PRIVATE LIMITED	Director	30/09/2011	30/12/2010	-	Active	NO
15	U70101DL2006PTC148549	STERLING INFRASTRUCTURE PRIVATE LIMITED.	Director	30/09/2011	30/12/2010	-	Active	NO
16	U45204DL2011PTC214320	KJS CONCRETE PRIVATE LIMITED	Director	17/02/2011	17/02/2011	-	Active	NO
17	U27100OR2011PTC013504	KJS PELLETS AND POWER PRIVATE LIMITED	Director	25/04/2011	25/04/2011	-	Active	NO
18	U51909WB1992PLC054881	SHRI JAGANNATH STEELS AND POWER LIMITED	Director	15/11/2011	15/11/2011	-	Active	NO
19	U10100DL2012PTC240283	RAMGARH COAL COMPANY PRIVATE LIMITED	Director	16/08/2012	16/08/2012	-	Active	NO

Name :

Mr. Prashant Kumar Ahluwalia

Designation :

Director

Address :

DD – 2, Civil Township, Rourkela – 769004, Orissa, India

Date of Birth/Age :

25.12.1958

Qualification :

Graduate

Date of Appointment :

20.12.2008

DIN No.:

01209165

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	U24119OR1989PLC002285	LOTUS CHEMICALS LIMITED	Director	14/06/1989	14/06/1989	-	Active	NO
2	U24117OR1999PTC005932	LOTUS CHROME CHEMICALS PRIVATE LIMITED	Director	28/09/1999	28/09/1999	-	Active	NO
3	U24117RJ1991PLC005891	KAMAL SPONGE STEEL AND POWER LIMITED	Director	28/09/2000	28/09/2000	-	Active	NO
4	U27106OR2003PTC007087	HIMA ISPAT PRIVATE LIMITED	Director	11/03/2003	11/03/2003	-	Active	NO
5	U70101RJ2005PTC021567	KJS IMPERIAL PROPERTIES PRIVATE LIMITED	Director	10/04/2007	10/04/2007	-	Active	NO
6	U52190RJ2007PTC024448	KAMAL PRIME FINVEST COMPANY PRIVATE LIMITED	Director	23/05/2007	23/05/2007	-	Active	NO
7	U45204RJ2007PTC024452	KAMAL TELECOM PRIVATE LIMITED	Director	23/05/2007	23/05/2007	-	Active	NO
8	U72200RJ2007PTC024435	KAMAL-HIMA INFOTECH PRIVATE LIMITED	Director	23/05/2007	23/05/2007	-	Active	NO
9	U45201RJ2007PTC024428	KAMAL MALLS AND RESIDENCIES PRIVATE LIMITED	Director	23/05/2007	23/05/2007	-	Active	NO
10	U60221RJ2007PTC024439	KAMAL LOGISTICS PRIVATE LIMITED	Director	23/05/2007	23/05/2007	-	Active	NO
11	U27107RJ2007PTC025203	KAMAL CORPORATION PRIVATE LIMITED	Director	21/11/2007	21/11/2007	-	Active	NO
12	U24117MP2002PTC015413	SARVESHWARI MINERALS PRIVATE LIMITED	Director	30/09/2009	26/02/2008	-	Active	NO
13	U74899DL1983PLC015722	K J S CEMENT LIMITED	Director	20/12/2008	20/12/2008	-	Active	NO
14	U10300DL2009PTC186321	THESGORA COAL PRIVATE LIMITED	Director	02/01/2009	02/01/2009	-	Active	NO
15	U27100OR2011PTC013504	KJS PELLETS AND POWER PRIVATE LIMITED	Director	25/04/2011	25/04/2011	-	Active	NO
16	U45400DL2008PTC172350	FUTURISTIC INFRADEVELOPERS PRIVATE LIMITED	Director	26/06/2011	26/06/2011	-	Active	NO
17	U51909WB1992PLC054881	SHRI JAGANNATH STEELS AND POWER LIMITED	Director	15/11/2011	15/11/2011	-	Active	NO

Name :

Mr. Neeraj Kumar Verma

Designation :

Additional Director

Address :

17, Bandhavgarh Colony, Satna – 485001, Madhya Pradesh, India

Date of Birth/Age :

03.09.1957

Date of Appointment :

23.01.2012

DIN No.:

05181604

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	U74899DL1983PLC015722	K J S CEMENT LIMITED	Additional director	23/01/2012	23/01/2012	-	Active	NO
2	U24117RJ1991PLC005891	KAMAL SPONGE STEEL AND POWER LIMITED	Additional director	23/01/2012	23/01/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Prashant Kumar
Designation :	Secretary
Address :	KJS Guest House, Amilia Lakhwar, Maihar, Satna – 485771, Madhya Pradesh, India
Date of Birth/Age :	02.04.1979
Date of Appointment :	01.09.2012
PAN No.:	BCNPK3901L
Name :	Mr. Anand Prakash
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Pavan Kumar Ahluwalia	8221000
Kamaljeet Singh Ahluwalia	2656592
Prashant Kumar Ahluwalia	5000
Indu Ahluwalia	982000
Medha Ahluwalia	443000
Gopa Ahluwalia	2500
Manjula Ahluwalia	2500
Pankaj Infotech Private limited	685300
Tanish Tradecom Private limited	713900
Puneet Oils and Chemicals Private limited	769100
Hima Ispat Private limited	360830
Kamal Corporation Private limited	90700
Kamal Logistic Private limited	12000
Kamal Malls and Residencies Private limited	80000
Lotus Chemicals Limited	17568
Hima Ispat Private limited	168000
Lotus Chrome Chemicals Private limited	8036
Kamal Prime Finvest Company Private limited	7000
Total	15225026

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Bodies corporate	19.10
Directors or relatives of directors	80.90
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Cement.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Punjab National Bank, Sadar Bazar, Jabalpur Cantt, Jabalpur - 482002, Madhya Pradesh, India

· Oriental Bank of Commerce, New Alipore Branch, 93; Tollygunge Circular Road, Kolkata, West Bengal, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks secured	3522.399	412.434
Total	3522.399	412.434

Banking Relations :	--
Auditors :
Name :	Amit Goyal and Company Chartered Accountants
Address :	A-8, IInd Floor Ganpati Enclave, Ajmer Road, Jaipur – 302006, Rajasthan, India
Tel. No.:	91-141-2225036/ 2225053/ 2225065
Fax No.:	91-141-2223211
E-Mail :	amitgoyalnco@yahoo.com
PAN No.:	AAGFA6922K
Associates :	Kamal Sponge Steel and Power Limited CIN No.: U24117RJ1991PLC005891

CAPITAL STRUCTURE

As on: 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.10/- each	Rs.400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15225026	Equity Shares	Rs.10/- each	Rs.152.250 Millions

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.10/- each	Rs.400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11859000	Equity Shares	Rs.10/- each	Rs.118.590 Millions

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		118.590	118.590	29.210
2] Share Application Money		2162.906	794.865	53.254
3] Reserves & Surplus		1042.958	1042.958	244.207
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3324.454	1956.413	326.671
LOAN FUNDS
1] Secured Loans		3522.399	412.434	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		3522.399	412.434	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		6846.853	2368.847	326.671
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		161.731	105.151	19.870
Capital work-in-progress		5153.959	634.422	25.750
INVESTMENT		15.493	15.493	12.073
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.074	0.074	0.074
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	659.791	296.854	9.235
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	889.056	1282.014	257.896
Total Current Assets		1548.921	1578.942	267.205
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	179.419	10.327	0.871
	Other Current Liabilities	142.812	20.438	2.524
	Provisions	2.081	0.000	0.152
Total Current Liabilities		324.312	30.765	3.547
Net Current Assets		1224.609	1548.177	263.658
MISCELLANEOUS EXPENSES		291.061	65.604	5.320
TOTAL		6846.853	2368.847	326.671

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	0.000	0.000	8.225
		Other Income	18.254	3.459	1.532
		TOTAL (A)	18.254	3.459	9.757
Less	EXPENSES
		Employee related expenses	20.923	20.082
		Administrative selling other expenses	20.610	10.339
		TOTAL (B)	41.533	30.421	9.228 (Including Financials Expenses)
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(23.279)	(26.962)
Less	FINANCIAL EXPENSES (D)		200.013	33.173
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(223.292)	(60.135)	0.529
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.165	0.148	0.018
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(225.457)	(60.283)	0.511
Less	TAX (H)		0.000	0.000	0.152
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(225.457)	(60.283)	0.359
Add	Excess Provision of Previous Year Income Tax Written off		0.000	0.000	0.001
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(65.604)	(5.320)	NA
	BALANCE CARRIED TO THE B/S		(291.061)	(65.604)	NA
	Earnings/ (Loss) Per Share (Rs.)		(19.01)	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(1235.11)	(1742.79)	3.68
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	6.21
Return on Total Assets (PBT/Total Assets}	(%)	(13.18)	(3.58)	0.18
Return on Investment (ROI) (PBT/Networth)		(0.07)	(0.03)	0.00
Debt Equity Ratio (Total Debt/Networth)		1.06	0.21	0.000
Current Ratio (Current Asset/Current Liability)		4.78	51.32	75.33

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	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	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

Note:

The Registered Office of the company has been shifted from A-7,Maharani Bagh, New Delhi – 110065, India to the present address w.e.f. 19.09.2012.

FIXED ASSETS

· Land

· Building

· Factory Building

· Plant and Machinery

· Office Equipments

· Factory Equipments

· Computer Equipments

· Furniture and Fixtures

· Vehicles

· Goodwill

· Knowhow

· Licenses

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.55.04
UK Pound	1	Rs.83.95
Euro	1	Rs.70.93

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	VRN/ DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--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		27

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.