1. Summary Information

		Country	India
Company Name	RASHI PERIPHERALS PRIVATE LIMITED	Principal Name 1	Mr. Suresh Mahavirprasad Pansari
Status	Satisfactory	Principal Name 2	Mr. Krishnakumar Radheshyam Choudhary
		Registration #	11-051039
Street Address	5^th Floor, Ariisto House, Telli Galli Corner, Andheri (East), Mumbai-400069, Maharashtra, India
Established Date	15.03.1989	SIC Code	--
Telephone#	91-22-61771788	Business Style 1	Dealer
Fax #	91-22-61771999 / 67090999	Business Style 2	Distributor
Homepage	www.rashiperipherals.co.in	Product Name 1	Computer Peripherals
# of employees	1000 (Approximately)	Product Name 2	--
Paid up capital	Rs. 9,949,000/-	Product Name 3	--
Shareholders	Foreign holdings 12.00% Other 88.00 %	Banking	HDFC Bank Limited
Public Limited Corp.	NO	Business Period	24 Years
IPO	NO	International Ins.	--
Public Enterprise	NO	Rating	Ba (52)
Related Company
Relation	Country	Company Name	CEO
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	India	Cee Pee Consultants	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,735,793,000	Current Liabilities	2,119,550,000
Inventories	1,927,746,000	Long-term Liabilities	1,250,224,000
Fixed Assets	267,374,000	Other Liabilities	30,501,000
Deferred Assets	0,000	Total Liabilities	3,400,275,000
Invest& other Assets	24,495,000	Retained Earnings	545,184,000
		Net Worth	555,133,000
Total Assets	3,955,408,000	Total Liab. & Equity	3,955,408,000
Total Assets (Previous Year)	2,636,257,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	15,019,200,000	Net Profit	102,509,000
Sales(Previous yr)	10,975,997,000	Net Profit(Prev.yr)	86,454,000

MIRA INFORM REPORT

Report Date :

08.10.2013

IDENTIFICATION DETAILS

Name :	RASHI PERIPHERALS PRIVATE LIMITED
Registered Office :	5^th Floor, Ariisto House, Telli Galli Corner, Andheri (East), Mumbai-400069, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	15.03.1989
Com. Reg. No.:	11-051039
Capital Investment / Paid-up Capital :	Rs. 9.949 Millions
CIN No.: [Company Identification No.]	U30007MH1989PTC051039
IEC No.:	0389007285
TAN No.: [Tax Deduction & Collection Account No.]	MUMR14063A
PAN No.: [Permanent Account No.]	AAACR2162H
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer and Distributor of Computer Peripherals.
No. of Employees :	1000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 2220000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. There appears a substantial increase in the sales turnover as well as net profitability of the company during 2012. Financial position seems to be good. Trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

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

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

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

INDIAN ECONOMIC OVERVIEW

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating: BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	March 26, 2013

Rating Agency Name	CRISIL
Rating	Short term rating: A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	March 26, 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 PARTED BY

Name :	Mr. Navin Agrawal
Designation :	Finance Manager
Contact No.:	91-22-61771788
Date :	05.10.2013

LOCATIONS

Registered / Corporate Office :	5^th Floor, Ariisto House, Telli Galli Corner, Andheri (East), Mumbai-400069, Maharashtra, India
Tel. No.:	91-22-61771788
Mobile No. :	91-9819556533 (Mr. Navin Agarwal)
Fax No.:	91-22-61771999 / 67090999
E-Mail :	navina@rptechindia.com ho@rptecindia.com
Website:	www.rptechindia.com www.rashiperipherals.co.in
Location :	Owned
Warehouse :	Rashi Complex, 186, Dongri Pada, Poman Village, Bhiwandi Road, Vasai (East), District Thane, Maharashtra, India
RMA Department :	101, Shubh Building, Sagar Manthan Industrial Complex, Bhoidarpada, Vasai Road (East), District Thane, Maharashtra, India
Mumbai Sales :	C-205, Cinthofine Industrial Estate, Behind Virwani Industrial Area, Goregoan (East), Mumbai-400063, Maharashtra, India
Lamington :	52/C, Chotani Bldg, 2^nd Floor, Proctor Road, Jyoti Estate, Grandroad (East), Mumbai-400007, Maharashtra, India
Branch Office :	Located at · Thane · Panaji · Kolhapur · Solapur · Nasik · Aurangabad · Sangli · Ahmednagar · Nagpur · Amrawati · Pune · Ahmedabad · Rajkot · Surat · Vadodara · Indore · Bhopal · Jabalpur · Raipur · Bilaspur · Bangalore · Hubli · Mangalore · Chennai · Coimbatore · Trichy · Madurai · Pondicherry · Secunderabad · Vijaywada · Rajahmundry · Vishakhapatnam · Ernakulam · Calicut · Kottayam · New Delhi · Jaipur · Lucknow · Ghaziabad · Varanasi · Dehradun · Chandigarh · Jammu · Parwanoo · Ludhiana · Gurgaon · Karnal · Kolkata · Darjeeling · Bubneshwar · Ranchi · Patna · Guwhati · Durgapur · Jodhpur

DIRECTORS

As on: 28.06.2013

Name :	Mr. Suresh Mahavirprasad Pansari
Designation :	Director
Address :	801, Shubh Angab, 5th Floor, N S Road, JVPD Scheme, Vile Parle (West), Mumbai – 400056, Maharashtra, India
Qualification:	B. Com. and FCA
Date of Birth/Age :	11.06.1954
Date of Appointment :	15.12.1989
PAN No.:	AFKPP1118B
DIN No.:	00215712
Name :	Mr. Krishnakumar Radheshyam Choudhary
Designation :	Director
Address :	401, Shubh Angab, 5th Floor, N S Road, JVPD Scheme, Vile Parle (West), Mumbai – 400056, Maharashtra, India
Qualification:	B. Com.and FCA
Date of Birth/Age :	28.10.1955
Date of Appointment :	28.02.1997
DIN No.:	00215919
Name :	Mr. Kapal Suresh Pansari
Designation :	Director
Address :	801, Shubh Angan, 5th Floor, S V Road, JVPD Scheme, Vile Parle (West), Mumbai – 400056, Maharashtra, India
Qualification:	B. Com and MBA
Date of Birth/Age :	21.12.1983
Date of Appointment :	07.09.2007
PAN No.:	AJVPP4956G
DIN No.:	00215510

KEY EXECUTIVES

Name :	Mr. Navin Agrawal
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 28.06.2013

Names of Shareholders	No. of Shares
Manju Pansari	116875
K.K. Choudhary jointly Meena Choudhary	95000
Meena Choudhary jointly Manju Pansari, K.K. Choudhary HUF Suresh Pansari HUF	116500
Suresh Pansari	124375
Meena Choudhary	68375
K.K. Choudhary Karta of K.K. Choudhary HUF	7500
Suresh Pansari Karta of Suresh Pansari HUF	4400
Kapal Pansari	73500
Chaman Pansari	57000
Master Keshav Choudhary through F and NG K.K. Choudhary	176000
Krishna Kumar Choudhary	30875
Rajesh Attal	122855
Priyanka Kapal Pasari	1600
Total	994855

As on: 28.06.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	12.00
Other	88.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Dealer and Distributor of Computer Peripherals.

Products :

Item Code No. (ITC Code)	Product Description
84711310	Computers Systems/ Media/ Peripherals and Parts

Imports :

Products :

Computer Peripherals

Countries :

· China

· Singapore

· Thailand

Terms :

Selling :

Cash and Credit

Purchasing :

Cash, Credit and Depend

GENERAL INFORMATION

Customers :

Others

No. of Employees :

1000 (Approximately)

Bankers :

· HDFC Bank Limited, 2^nd Floor, Process House, Kamala Mills, Senapati Bapat Marg, Lower Parel, Mumbai-400013, Maharashtra, India

· Standard Chartered Bank, 90, M.G. Road, Fort, Mumbai - 400001, Maharashtra, India

· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

Facilities :

Secured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Loans taken for fixed assets	118.592	0.000
Working capital loans from banks	1118.606	643.170
Total	1237.198	643.170

Banking Relations :	--
Financial Institution :	Indiabulls Housing Finance Limited, F-60, Malhotra Building, 2^nd Floor, Connaught Place, New Delhi – 110001, India
Auditors :
Name :	ASL and Company Chartered Accountants
Address :	102, Gauresh Apartments, Agarkar Chowk, Old Police Line, Andheri (E), Mumbai – 400069, Maharashtra, India
Tel No. :	91-22-26841173
Fax No. :	91-22-26842206
E-Mail :	choudhary.pansari@mtnl.net.in
PAN No.:	AAAFC1257B
Subsidiary :	Rashi Peripherals Pte Limited, Singapore
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Cee Pee Consultants, India · Cee Pee Pharma Private Limited, India · International Ribbon Manufacturing Company, India · Sanwaria Texpro Private Limited, India · Uni Product India, India

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
994855	Equity Shares	Rs.10/- each	Rs.9.949 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	9.949
(b) Reserves & Surplus	545.184
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	555.133
(3) Non-Current Liabilities
(a) long-term borrowings	118.592
(b) Deferred tax liabilities (Net)	8.079
(c) Other long term liabilities	0.000
(d) long-term provisions	10.163
Total Non-current Liabilities (3)	136.834
(4) Current Liabilities
(a) Short term borrowings	1131.632
(b) Trade payables	1996.313
(c) Other current liabilities	123.237
(d) Short-term provisions	12.259
Total Current Liabilities (4)	3263.441
TOTAL	3955.408
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	267.374
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	14.684
(iv) Intangible assets under development	0.000
(b) Non-current Investments	9.811
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	202.452
(e) Other Non-current assets	0.000
Total Non-Current Assets	494.321
(2) Current assets
(a) Current investments	0.000
(b) Inventories	1927.746
(c) Trade receivables	1450.661
(d) Cash and cash equivalents	1.870
(e) Short-term loans and advances	80.810
(f) Other current assets	0.000
Total Current Assets	3461.087
TOTAL	3955.408

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		9.949	9.949
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		443.831	358.537
4] (Accumulated Losses)		0.000	0.000
NETWORTH		453.780	368.486
LOAN FUNDS
1] Secured Loans		643.170	436.573
2] Unsecured Loans		9.053	37.879
TOTAL BORROWING		652.223	474.452
DEFERRED TAX LIABILITIES		4.510	1.694
TOTAL		1110.513	844.632
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		215.861	68.762
Capital work-in-progress		2.818	0.000
INVESTMENT		9.810	1.176
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1210.961	845.521
	Sundry Debtors	1026.614	903.160
	Cash & Bank Balances	3.500	0.574
	Other Current Assets	0.000	0.000
	Loans & Advances	166.693	233.942
Total Current Assets		2407.768	1983.197
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1102.850	1102.850
	Other Current Liabilities	420.812	99.815
	Provisions	2.082	5.838
Total Current Liabilities		1525.744	1208.503
Net Current Assets		882.024	774.694
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		1110.513	844.632

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income		10975.997	8376.297
		Other Income
		TOTAL (A)	15019.200	10975.997	8376.297
Less	EXPENSES
		Cost of Goods Sold		9763.306	7448.429
		Raw Material Consumed		6.129	6.911
		Sales Tax and Service Tax		547.317	355.021
		Manufacturing, Administrative and Selling Expenses		491.937	441.929
		TOTAL (B)		10808.689	8252.290
			14867.349
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			167.308	124.007
			(Including Interest and Depreciation Expenses)
Less	INTEREST PAID (D)			23.898	32.576
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			143.410	91.431
Less/ Add	DEPRECIATION/ AMORTISATION (F)			13.143	10.980
	PROFIT BEFORE TAX (E-F) (G)		151.851	130.267	80.451
Less	TAX (H)		49.342	43.813	27.182
	PROFIT AFTER TAX (G-H) (I)		102.509	86.454	53.269
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6.497	11.203	9.098
Less	APPROPRIATIONS
		Transfer to General Reserve	100.000	90.000	50.000
		Proposed Dividend	0.995	0.995	0.995
		Additional Tax on Dividend	0.161	0.165	0.169
	BALANCE CARRIED TO THE B/S		7.850	6.497	11.203
	EARNINGS IN FOREIGN CURRENCY
	Exports-Goods (F.O.B.)		44.708	40.580	47.293
	For Services		81.930	59.187	46.186
	Reimbursement of Expenses		2.621	2.996	7.345
	Total		129.259	102.763	100.824
	IMPORTS		NA	NA	5596.577
	Earnings Per Share (Rs.)		103.04	86.90	53.54

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.68	0.79	0.64
Net Profit Margin (PBT/Sales)	(%)	NA	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	3.86	4.97	3.92
Return on Investment (ROI) (PBT/Networth)		0.27	0.29	0.22
Debt Equity Ratio (Total Liability/Networth)		2.25	4.80	4.57
Current Ratio (Current Asset/Current Liability)		1.06	1.58	1.64

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

NOTE:

The Registered office of the company has been shifted from 102, Dhanthak Plaza, Makwana Road, Marol, Andheri (East), Mumbai-400059, Maharashtra, India to the present address w.e.f. 16.04.2012

OPERATIONS:

During the year, the turnover of the Company stood at Rs.15020.000 as against Rs10980.000 millions the previous year, registering an annual growth of over 36%. Profit before taxation increased by 17% from Rs. 130.300 millions to Rs. 151.900 millions. The Profit after Taxation increased by 19% from Rs. 86.500 millions to Rs. 102.500 millions.

During the year, the Company has added distribution of some new brands like LG and Samsung in Mobile phones segment. The Company has also opened several new branches in India making a total of 64 Branch offices. Most of new branches were opened in E class towns.

Indian I.T. hardware Industry grown rapidly during first half of the year, but tumbled in second half due to various National and international factors. The rupee has depreciated significantly against US$ during second half which had a direct hit on the bottom line of the Company.

Their endeavor is to constantly strive towards brand building with right set of products and brands continued this year too. Today with their constant efforts by holding of various National and International Channel Training Programs, Conferences and Seminars, the Company has a strong presence not only in the trade media but also in the mainstream through cutting edge technology products for the end users. The Company has also been recognized as best Distributor by various Vendors and rated very high by trade media. The company is in advance stage of finalization of some new tie-ups, which will help to overcome recession and take the Company’s growth further.

UNSECURED LOANS

Particulars	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
Deposits	13.026	9.053
Total	13.026	9.053

INDEX CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10323977	09/12/2011	220,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B28166858
2	10332810	03/12/2011	126,182,362.00	INDIABULLS HOUSING FINANCE LIMITED	F-60, MALHOTRA BUILDING, 2ND FLOOR, CONNAUGHT PLACE, NEW DELHI, Delhi - 110001, INDIA	B30929574
3	10055336	07/06/2011 *	550,000,000.00	STANDARD CHARTERED BANK	Crescenzo, 3A/F, Plot No.C-38 & 39, G-Block, Bandra Kurla Complex, Bandra (East), MUMBAI, Maharashtra - 400051, INDIA	B25204298
4	10024338	22/09/2012 *	490,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B61306296
5	10010390	22/09/2012 *	122,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B60207859
6	90222309	28/03/1994	1,000,000.00	THE SARASWAT CO OP BANK LTD	DR CINEMA MARG GRANTROAD, BOMBAY, Maharashtra - 400007, INDIA	-

* Date of charge modification

FIXED ASSETS

· Buildings

· Residential Building

· Office Building

· Plant and Equipment

· Factory Equipments

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Other Equipments

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 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.61.78
UK Pound	1	Rs.99.06
Euro	1	Rs.83.84

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		52

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.