MIRA INFORM REPORT

Report Date :

28.11.2013

IDENTIFICATION DETAILS

Name :	BUILDMET FIBRES PRIVATE LIMITED
Registered Office :	42, KIADB Industrial Area, Doddaballapur, Bangalore - 561203, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	09.12.1999
Com. Reg. No.:	08-026059
Capital Investment / Paid-up Capital :	Rs.55.610 Millions
CIN No.: [Company Identification No.]	U25209KA1999PTC026059
TAN No.: [Tax Deduction & Collection Account No.]	BLRB01630G
PAN No.: [Permanent Account No.]	AABCB5670P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of plastic and rubber.
No. of Employees :	Not Available

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 380000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. Latest financial of the company is not available with us. As per financial (2012), external borrowing of the company appears to be huge. Profit and loss account (2012) of the company is not available with us. However, trade relations are improving. Business is active. Payments are reported to be slow. The company can be considered for business dealing with some caution.

NOTES:

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

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

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

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

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6 % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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/Factory 1 :	42, KIADB Industrial Area, Doddaballapur, Bangalore - 561203, Karnataka
Tel No.:	91-8119-22331/30017
Fax No.:	Not Available
E-Mail :	njayaraman@airtelmail.in jsurya@vsnl.com ramakrishnan@buildmetfibres.in
Website:	http://buildmetfibres.in
Corporate Office :	No. A – 9, 1^st Stage, 1^st Cross, Peenya Industrial Area, Bengaluru – 560058, Karnataka, India
Tel. No.:	91-80-23723431/28395124
Fax No.:	91-80-23724091
Factory 2 :	Plot No 13,14,15, KIADB Industrial Area, Anthrasanahalli II Phase, Near Sairam Rice Mill, Tumkur – 572106, Karnataka, India
Tel No.:	91-816-2212548/2212549
Office :	#150, 6^th Main, Indutrial Subrb, Yeshwantpur, Bangalore – 560058, Karnataka, India
Tel No.:	91-80-23723431/23723432/23724109
Fax No.:	91-80-23724091

DIRECTORS

As on 29.09.2012

Name :

Mr. Ramakrishnan Selyaganapathy

Designation :

Managing Director

Address :

101, KHB Colony, Basaveshwar Nagar, Bangalore – 560079, Karnataka, India

Date of Birth/Age :

15.07.1954

Date of Appointment :

31.07.2010

DIN No.:

01632133

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	U25209KA1999 PTC026059	BUILDMET FIBRES PRIVATE LIMITED	Managing director	31/07/2010	09/12/1999	-	Active	NO
2	U25209KA2000 PTC027796	TRANSPAC ASIA PRIVATE LIMITED	Managing director	18/09/2000	18/09/2000	-	Active	NO
3	U51101KA2002 PTC030027	FOOD CREATIONS PRIVATE LIMITED	Director	25/01/2002	25/01/2002	-	Active	NO
4	U14339KA1993 PTC014339	SHAKTHI KIRAN FOODS PRIVATE LIMITED	Director	10/10/2002	10/10/2002	-	Active	NO
5	L28920TN1947 PLC007437	TULSYAN NEC LIMITED	Director	31/01/2005	31/01/2005	-	Active	NO
6	U91990MH2004 PLC144915	INDIAN FLEXIBLE INTERMEDIATE BULK CONTAINER ASSOCIATION	Director	20/09/2008	20/09/2008	-	Active	NO

Name :

Mr. Ramanathan Panchapakesan

Designation :

Director

Address :

182, 1^St Main, Mahalakshmi Layout, Bangalore – 560086, Karnataka, India

Date of Birth/Age :

16.10.1952

Date of Appointment :

19.12.1999

DIN No.:

00515881

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	U25209KA1998PTC023840	INNOVA POLYPAK PRIVATE LIMITED	Director	30/07/1998	30/07/1998	16/07/2009	Active	NO
2	U25209KA1999PTC026059	BUILDMET FIBRES PRIVATE LIMITED	Director	09/12/1999	09/12/1999	-	Active	NO
3	U51101KA2002PTC030027	FOOD CREATIONS PRIVATE LIMITED	Managing director	22/01/2002	22/01/2002	-	Active	NO
4	U14339KA1993PTC014339	SHAKTHI KIRAN FOODS PRIVATE LIMITED	Managing director	10/10/2002	10/10/2002	-	Active	NO
5	U16000TN1970PLC005883	CIGFIL LIMITED	Managing director	28/10/2010	28/10/2010	-	Active	NO

Name :

Mr. Bharat Ramakrishnan

Designation :

Director

Address :

101, KHB Colony, Basaveshwar Nagar, Bangalore – 560079, Karnataka, India

Date of Birth/Age :

10.03.1983

Date of Appointment :

30.09.2009

DIN No.:

02742467

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	U25209KA1998PTC023840	INNOVA POLYPAK PRIVATE LIMITED	Additional director	16/07/2009	16/07/2009	-	Active	NO
2	U25209KA1999PTC026059	BUILDMET FIBRES PRIVATE LIMITED	Director	30/09/2009	16/07/2009	-	Active	NO

Name :

Mr. Lalit Kumar Tulsyan Ganesh Lal

Designation :

Director

Address :

19/12, 1^st Main Road, Jayamahal Extension, Bangalore-560046, Karnataka, India

Date of Birth/Age :

18.02.1960

Date of Appointment :

30.09.2010

DIN No.:

00632823

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	U01410KA1988PTC009350	CITY ROCKS PRIVATE LIMITED	Director	16/12/1991	16/12/1991	-	Strike off	NO
2	L28920TN1947PLC007437	TULSYAN NEC LIMITED	Managing director	01/10/2011	12/07/1996	-	Active	NO
3	U72200TN1999PLC041863	COSMIC GLOBAL LIMITED	Director	05/02/1999	05/02/1999	-	Active	NO
4	U70109WB1991PTC050984	PRAGATI VINIYOG PRIVATE LIMITED	Director	24/02/1999	24/02/1999	25/05/2010	Active	NO
5	U65993WB1991PTC051072	G L INVESTMENT PRIVATE LIMITED	Director	24/02/1999	24/02/1999	25/05/2010	Active	NO
6	L25200GJ1984PLC050560	GOPALA POLYPLAST LIMITED	Director	24/06/2000	24/06/2000	23/01/2008	Active	NO
7	U40101TN2002PLC049958	TULSYAN POWER LIMITED	Director	29/11/2002	29/11/2002	-	Active	NO
8	U27209TN1990PTC019321	TULSYAN SMELTERS PRIVATE LIMITED	Director	31/07/2006	31/07/2006	-	Active	NO
9	U27107TN2008PLC069395	TULSYAN ALLOYS LIMITED	Director	24/09/2008	24/09/2008	-	Strike off	NO
10	U51909TN2008PLC069747	BALAJI ENGINEERING AND GALVANIZING LIMITED	Director	04/11/2008	04/11/2008	-	Active	NO
11	U28999TN2003PTC051803	CHITRAKOOT STEEL AND POWER PRIVATE LIMITED	Director	05/05/2010	23/12/2009	-	Active	NO
12	U25209KA1999PTC026059	BUILDMET FIBRES PRIVATE LIMITED	Director	30/09/2010	31/07/2010	-	Active	NO
13	U25200MH1955NPL009601	THE PLASTICS EXPORT PROMOTION COUNCIL	Director	18/11/2011	18/11/2011	-	Active	NO

Name :

Mr. Sanjay Tulsyan Ganesh Lal

Designation :

Director

Address :

A 602, Keshav Dugar, 1 East Avenue, Keshavaperumalpuram, R A Puram, Chennai-600028, Tamilnadu, India

Date of Birth/Age :

12.01.1964

Date of Appointment :

30.09.2010

DIN No.:

00632802

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	U27209TN1990PTC019321	TULSYAN SMELTERS PRIVATE LIMITED	Director	19/06/1990	19/06/1990	-	Active	NO
2	L28920TN1947PLC007437	TULSYAN NEC LIMITED	Managing director	30/08/2007	01/10/1996	-	Active	NO
3	U72200TN1999PLC041863	COSMIC GLOBAL LIMITED	Director	05/02/1999	05/02/1999	-	Active	NO
4	U70109WB1991PTC050984	PRAGATI VINIYOG PRIVATE LIMITED	Director	24/02/1999	24/02/1999	25/05/2010	Active	NO
5	U65993WB1991PTC051072	G L INVESTMENT PRIVATE LIMITED	Director	24/02/1999	24/02/1999	25/05/2010	Active	NO
6	U40101TN2002PLC049958	TULSYAN POWER LIMITED	Director	29/11/2002	29/11/2002	-	Active	NO
7	U36101TN2007PTC064433	Anglewood Furniture Solutions Private Limited	Director	10/08/2007	10/08/2007	09/03/2009	Active	NO
8	U27107TN2008PLC069395	TULSYAN ALLOYS LIMITED	Director	24/09/2008	24/09/2008	-	Strike off	NO
9	U51909TN2008PLC069747	BALAJI ENGINEERING & GALVANIZING LIMITED	Director	04/11/2008	04/11/2008	-	Active	NO
10	U28999TN2003PTC051803	CHITRAKOOT STEEL AND POWER PRIVATE LIMITED	Director	05/05/2010	23/12/2009	-	Active	NO
11	U25209KA1999PTC026059	BUILDMET FIBRES PRIVATE LIMITED	Director	30/09/2010	31/07/2010	-	Active	NO
12	U74300TN2010PTC078391	Color Peppers Media Private Limited	Director	09/12/2010	09/12/2010	-	Active	NO
13	U33111TN1947NPL000861	HINDUSTAN CHAMBER OF COMMERCE	Director	28/09/2011	28/09/2011	28/09/2012	Active	NO
14	U93000TN2011PTC082713	TURQUOISE LIVING ESSENCES PRIVATE LIMITED	Director	13/10/2011	13/10/2011	-	Active	NO
15	U 74900TN2011 PTC083638	Gallery Veda Private Limited	Director	19/12/2011	19/12/2011	-	Active	NO

MAJOR SHAREHOLDERS

As on 29.09.2012

Names of Shareholders	No. of Shares	% of Holding
Ramanathan Panchapakesan	275428	5.00
Ramakrishnan Selyaganapathy	1635427	29.30
R. Geetha	1000000	18.00
Tulsyan Nec Limited	1150000	20.70
S. Vishwanath	100	0.00
Lalith K. Tulsyan	500000	9.00
Sanjay K. Tulsyan	500000	9.00
Soeta Deposits and Advance	500000	9.00
Total	5560955	100.00

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Bodies corporate	29.06
Directors or relatives of Directors	51.56
Other top fifty shareholders	19.38
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of plastic and rubber.

Products :

Product Description	ITC Code
Plastic and rubber manufacturing services	99884230

• Capable of producing all types of FIBC Bags with safe working load ranging from 500 kgs to 2000 kgs.
• Printed and Unprinted FIBCs made from Circular woven Fabric, Sulzer flat fabrics.
• Builder Bags
• Ventilated Bags
• Container Liners
• Conductive bags(Type C)
• One Loop, Two Loop bags for the Fertilizer industry
• Bags with Corner or Cross corner loops.
• Bags with glued liners
• Bags with preshaped liners
• Bags with normal liners
• Baffle Bags
• Bag in Bags
• Clean Bags

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Quantity
Licensed Capacity	MT	NA
Installed Capacity	MT	4284
Production	MT	4151

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Bank of India, Mid Corporate Branch, 1^st Floor, Bank of India Building, No. 11, K G Road, Bangalore – 560009, Karnataka, India

· ICICI Bank Limited

· HDFC Bank Limited

Facilities :

Particulars	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Long Term Borrowings
Secured Borrowing (Hypothecation of fixed assets)	319.839	185.955
Total	319.839	185.955

Banking Relations :	--
Auditors :
Name :	Ramesh and Ramachandran Chartered Accountants
Address :	# 39, Vishwanathapuram Main Road, Kodambakkam, Chennai – 600024, Tamilnadu, India
PAN No.:	AAAFR5165M

CAPITAL STRUCTURE

After 29.09.2013

Authorised Capital : Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.69.610 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs. 10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5560955	Equity Shares	Rs. 10/- each	Rs.55.610 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	55.610	41.610
(b) Reserves & Surplus	40.204	30.147
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.070	0.070
Total Shareholders’ Funds (1) + (2)	95.884	71.827
(3) Non-Current Liabilities
(a) long-term borrowings	330.139	197.655
(b) Deferred tax liabilities (Net)	4.963	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	335.102	197.655
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	70.638	80.355
(c) Other current liabilities	3.893	6.820
(d) Short-term provisions	17.636	9.265
Total Current Liabilities (4)	92.167	96.440
TOTAL	523.153	365.922
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	282.808	82.888
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	4.738	63.872
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.342
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	4.572	0.000
Total Non-Current Assets	292.118	147.102
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	99.081	84.314
(c) Trade receivables	58.165	59.079
(d) Cash and cash equivalents	10.323	9.127
(e) Short-term loans and advances	63.466	66.300
(f) Other current assets	0.000	0.000
Total Current Assets	231.035	218.820
TOTAL	523.153	365.922

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		21.679
2] Share Application Money		0.000
3] Reserves & Surplus		26.002
4] (Accumulated Losses)		0.000
NETWORTH		47.681
LOAN FUNDS
1] Secured Loans		125.767
2] Unsecured Loans		11.200
TOTAL BORROWING		136.967
DEFERRED TAX LIABILITIES		0.000
TOTAL		184.648
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		37.030
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	47.116
	Sundry Debtors	37.251
	Cash & Bank Balances	8.022
	Other Current Assets	12.766
	Loans & Advances	82.396
Total Current Assets		187.551
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	30.987
	Other Current Liabilities	1.419
	Provisions	7.527
Total Current Liabilities		39.933
Net Current Assets		147.618
MISCELLANEOUS EXPENSES		0.000
TOTAL		184.648

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2012	31.03.2011	31.03.2010
	SALES
		Income				479.775
		Other Income				41.422
		TOTAL (A)			NA	521.197
Less	EXPENSES
		Increase or Decrease in Work in process/ Finished Goods				9.609
		Raw Materials Consumed				364.994
		Salaries and Wages				5.917
		Other Expenses				111.778
		TOTAL (B)			NA	492.298
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)				37.746	28.899
Less	FINANCIAL EXPENSES (D)				18.586	12.324
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)				19.160	16.575
Less	DEPRECIATION/ AMORTISATION (F)			NA	5.212	4.722
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)				13.948	11.853
Less	TAX (H)				NA	3.583
	PROFIT/(LOSS) AFTER TAX (G-H) (I)				NA	8.270
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD				26.002	18.143
Less	APPROPRIATIONS
			Gratuity of earlier year		0.780	0.411
			Short provision		0.540	0.000
			Provision for differed tax		0.107	0.000
			Transfer to General Reserve		0.860	0.000
			Proposed Dividend		3.124	0.000
			Tax on Dividend		0.507	0.000
	BALANCE CARRIED TO THE B/S				29.287	26.002
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	572.200	468.700	430.600
	TOTAL EARNINGS			572.200	468.700	430.600
	IMPORTS
			Raw Materials	7.687	93.231	72.434
			Consumables	0.019	0.070	0.070
	TOTAL IMPORTS			7.706	93.301	72.504
	Earnings Per Share (Rs.)			NA	NA	3.83

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	1.59
Net Profit Margin (PBT/Sales)	(%)	NA	NA	2.47
Return on Total Assets (PBT/Total Assets}	(%)	NA	4.62	5.28
Return on Investment (ROI) (PBT/Networth)		NA	0.19	0.25
Debt Equity Ratio (Total Debt /Networth)		3.44	2.75	2.87
Current Ratio (Current Asset/Current Liability)		2.51	2.27	4.70

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last one year	Yes
12]	Profitability for last two 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	No

UNSECURED LOANS:

Particulars	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Long Term Borrowings
Unsecured Borrowing	10.300	11.700
Total	10.300	11.700

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10374619	20/09/2013 *	480,800,000.00	Bank Of India	Mid corporate branch, 1st floor, Bank of India building, No 11, K G Road, Bangalore, Karnataka - 560009, INDIA	B86683687
2	10262169	13/11/2010	230,000,000.00	BANK OF INDIA	MID CORPORATE BRANCH, FIRST FLOOR, NO. 11, K. G. ROAD, BANGALORE, Karnataka - 560009, INDIA	B02531150
3	90192471	24/01/2009 *	162,000,000.00	BANK OF INDIA	CORPORATE BANKING BRANCH, NO. 25/1, SKIP HOUSE, MUSEUM ROAD, BANGALORE, Karnataka - 560025, INDIA	A56173578

*Date of charge modification

FIXED ASSETS:

· Land

· Building

· Plant and machinery

· Furniture and Fixture

· Computer

· Vehicles

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.62.36
UK Pound	1	Rs.101.10
Euro	1	Rs.84.68

INFORMATION DETAILS

Report Prepared by :

VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	NO
--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.