MIRA INFORM REPORT

Report Date :

15.10.2013

IDENTIFICATION DETAILS

Name :	SHREE RIDDHI SIDDHI BUILDWELL PRIVATE LIMITED
Registered Office :	138A, Pocket – F, Mayur Vihar, Phase-II, Delhi-110091
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	04.03.2010
Com. Reg. No.:	55-199697
Capital Investment / Paid-up Capital :	Rs. 11.100 Millions
CIN No.: [Company Identification No.]	U70200DL2010PTC199697
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in business of construction of building, flats, houses, commercial centers, business parks etc.
No. of Employees :	35 (Approximately)

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 210000
Status :	Yet to Commence Commercial Operation
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated during the year 2010. The company is yet to commence with its commercial operation. However, the net worth of the company is satisfactory. Payment terms are unknown. The company can be considered for business 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

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.

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 DECLINED BY

Name :	Mr. Dhiraj Bharadwaj
Designation :	Accounts Manager
Contact No.:	91-9219510806
Date :	14.10.2013

LOCATIONS

Registered Office :	138A, Pocket – F, Mayur Vihar, Phase-II, Delhi-110091, India
Tel. No.:	Not Available
Mobile No.:	91-9219510806 (Mr. Dhiraj Bharadwaj)
Fax No.:	Not Available
E-Mail :	ankur_agra@hotmail.com
Corporate Office :	Sector 16B, Awas Vikas Sikandra Yojna, 2^nd Floor, Padama Plaza, Agra-282001, Uttar Pradesh, India

DIRECTORS

AS ON 29.09.2012

Name :	Ms. Anju Jain
Designation :	Director
Address :	42, Surya Nagar, Agra-282002, Uttar Pradesh, India
Date of Birth/Age :	01.12.1980
Date of Appointment :	04.03.2010
DIN No.:	00041288

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	U67120UP1993PTC015235	PEE CEE INFOSYSTEMS PRIVATE LIMITED	Director	05/03/2002	05/03/2002	-	Active	NO
2	U24241UP1993PLC015241	SURAJ BHAN AGENCIES LIMITED	Whole-time director	01/04/2008	01/01/2003	15/12/2012	Active	NO
3	U70101DL2004PLC127959	ANSAL PROJECTS AND DEVELOPERS LIMITED	Director	29/07/2004	29/07/2004	08/02/2008	Active	NO
4	U70101DL2005PLC132562	AV REALTY MART LIMITED	Director	01/02/2005	01/02/2005	-	Amalgamated	NO
5	U65999MH2005PTC152116	AGRA VENTURE FUND TRUSTEE PRIVATE LIMITED	Director	07/04/2005	07/04/2005	02/01/2012	Active	NO
6	U45201DL2005PTC134645	ISHATVAM DEVELOPERS PRIVATE LIMITED	Director	10/01/2006	10/01/2006	27/03/2009	Active	NO
7	U70101DL2005PTC137661	AGRA LAND DEVELOPERS PRIVATE LIMITED	Director	10/01/2006	10/01/2006	-	Active	NO
8	U70101DL2003PTC123456	INDIA REALTY PRIVATE LIMITED	Director	18/08/2006	18/08/2006	03/04/2007	Active	NO
9	U24232DL1989PLC244625	INDIAN HERBS RESEARCH AND SUPPLY COMPANY LIMITED	Additional director	10/03/2009	10/03/2009	30/09/2009	Amalgamated	NO
10	U70200DL2010PTC199697	SHREE RIDDHI SIDDHI BUILDWELL PRIVATE LIMITED	Director	04/03/2010	04/03/2010	-	Active	NO
11	U70102DL2010PTC258773	SHREE RIDDHI SIDDHI REALTECH PRIVATE LIMITED	Director	09/11/2010	09/11/2010	-	Active	NO
12	U74899DL1993PTC052559	HARE KRISHAN INVESTMENT AND TRADING CO. PRIVATE LIMITED	Director	20/08/2011	20/07/2011	-	Active	NO
13	U80904DL2011PTC228607	SHREE RIDDHI SIDDHI EDUTECH PRIVATE LIMITED	Director	12/12/2011	12/12/2011	-	Active	NO
14	U70109DL2012PTC233030	ASPL DEVELOPERS PRIVATE LIMITED	Director	16/03/2012	16/03/2012	-	Active	NO
15	U70101DL1996PTC082693	UDHARV BUILDERS PRIVATE LIMITED	Director	29/09/2012	13/08/2012	-	Active	NO

Name :	Mr. Pramod Kumar Jain
Designation :	Director
Address :	42, Surya Nagar, Agra-282002, Uttar Pradesh, India
Date of Birth/Age :	26.06.1952
Date of Appointment :	04.03.2010
DIN No.:	00112805

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	L24241UP1986PLC008344	PEE CEE COSMA SOPE LIMITED	Managing director	16/05/2012	10/11/1986	-	Active	NO
2	U00063DL1989PLC137277	PEE CEE HOUSING AND CONSTRUCTIONS LIMITED TFR.FROM UP TO DELHI	Director	13/09/1989	13/09/1989	-	Amalgamated	NO
3	U74899DL1993PTC052559	HARE KRISHAN INVESTMENT AND TRADING CO. PRIVATE LIMITED	Director	14/07/2003	14/07/2003	-	Active	NO
4	U70101DL2004PLC127959	ANSAL PROJECTS AND DEVELOPERS LIMITED	Director	29/07/2004	29/07/2004	08/02/2008	Active	NO
5	U45400DL2007PTC164807	PEE CEE RAJ DEVELOPERS PRIVATE LIMITED	Director	15/06/2007	15/06/2007	-	Active	NO
6	U24232DL1989PLC244625	INDIAN HERBS RESEARCH AND SUPPLY COMPANY LIMITED	Additional director	10/03/2009	10/03/2009	30/09/2009	Amalgamated	NO
7	U70200DL2010PTC199697	SHREE RIDDHI SIDDHI BUILDWELL PRIVATE LIMITED	Director	04/03/2010	04/03/2010	-	Active	NO
8	U70102UP2010PTC041979	PEE CEE REALTY BUILDERS PRIVATE LIMITED	Director	14/09/2010	14/09/2010	-	Active	NO
9	U80904DL2011PTC228607	SHREE RIDDHI SIDDHI EDUTECH PRIVATE LIMITED	Director	12/12/2011	12/12/2011	-	Active	NO

Name :	Mr. Ankur Jain
Designation :	Director
Address :	42, Surya Nagar, Agra-282002, Uttar Pradesh, India
Date of Birth/Age :	30.09.1979
Date of Appointment :	04.03.2010
DIN No.:	00172356

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	U24241UP1981PTC005512	PEE CEE SOAP AND CHEMICALS PRIVATE LIMITED	Whole-time director	25/01/2002	25/01/2002	-	Amalgamated	NO
2	U67120UP1993PTC015235	PEE CEE INFOSYSTEMS PRIVATE LIMITED	Director	05/03/2002	05/03/2002	-	Active	NO
3	U74899DL1993PTC052559	HARE KRISHAN INVESTMENT AND TRADING CO. PRIVATE LIMITED	Director	14/07/2003	14/07/2003	-	Active	NO
4	U24232DL1989PLC244625	INDIAN HERBS RESEARCH AND SUPPLY COMPANY LIMITED	Additional director	10/03/2009	10/03/2009	30/09/2009	Amalgamated	NO
5	U70200DL2010PTC199697	SHREE RIDDHI SIDDHI BUILDWELL PRIVATE LIMITED	Director	04/03/2010	04/03/2010	-	Active	NO
6	U70102DL2010PTC258773	SHREE RIDDHI SIDDHI REALTECH PRIVATE LIMITED	Director	09/11/2010	09/11/2010	-	Active	NO
7	U24241UP1993PLC015241	SURAJ BHAN AGENCIES LIMITED	Director	30/09/2011	01/08/2011	-	Active	NO
8	U80904DL2011PTC228607	SHREE RIDDHI SIDDHI EDUTECH PRIVATE LIMITED	Director	12/12/2011	12/12/2011	-	Active	NO
9	U70109DL2012PTC233030	ASPL DEVELOPERS PRIVATE LIMITED	Director	16/03/2012	16/03/2012	-	Active	NO
10	U70101DL1996PTC082693	UDHARV BUILDERS PRIVATE LIMITED	Director	01/04/2012	01/04/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Dhiraj Bharadwaj
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Equity Shareholders	No. of Shares
Pramod Kumar Jain	143550
Ankur Jain	36250
Anju Jain	163850
Lajja Jain	36250
Stuti Jain	156600
Shikha Jain	29000
P K Jain (HUF)	14500
Hare Krishna Investment and Trading Company Private Limited, India	250000
ASPL Developers Private Limited, India	250000
TOTAL	1080000

Names of Preference Shareholders	No. of Shares
Hare Krishna Investment and Trading Company Private Limited, India	150000
TOTAL	150000

AS ON 29.09.2012

Equity Shares Break Up	Percentage of Holding
Bodies corporate	46.30
Directors or relatives of Directors	53.70
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in business of construction of building, flats, houses, commercial centers, business parks etc.

GENERAL INFORMATION

Suppliers :

· Brijesh Enterprises

· Rajeev Goel and Associates

· KG Consulting

· Dee Jay Steels

· Gayatri Paints

· Hindustan Steel Corporation

· Hindustan Steel Enterprises

· Jain electrical

· Jindal Concrete Udyog

· Maa Bhagwati Enterprises

· Star Distributors

No. of Employees :

35 (Approximately)

Bankers :

· State Bank of India, SIB Branch, Sanjay Place, Agra-282002, Uttar Pradesh, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Short Term Borrowings
Cash Credit Limit from Bank	16.106	0.000
(Secured by way of hypothecation of stock and book debts and EMI of the 4^th floor at property INS 1, sector 12A, Sikandra Agar and repayable on demand)
TOTAL	16.106	0.000

Banking Relations :	--
Auditors :
Name :	Khandelia and Sharma Chartered Accountant
Address :	407, South-Ex Plaza-II, South Extension Part-2, New Delhi-110049, India
PAN No.:	AAAFA6345G
Related Parties :	· Hare Krishna Investment and Trading Company (Private) Limited · Shree Riddhi Siddhi Realtech Private Limited · ASPL Developers Private Limited

CAPITAL STRUCTURE

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1170000	Equity Shares	Rs.10/- each	Rs. 11.700 Millions
150000	10 % Cumulative Preference Shares	Rs.10/- each	Rs. 1.500 Millions
	TOTAL		Rs. 13.200 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1080000	Equity Shares	Rs.10/- each	Rs. 10.800 Millions
150000	10 % Cumulative Preference Shares	Rs.10/- each	Rs. 1.500 Millions
	TOTAL		Rs. 12.300 Millions

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1150000	Equity Shares	Rs.10/- each	Rs. 11.500 Millions
50000	10 % Cumulative Preference Shares	Rs.10/- each	Rs. 0.500 Million
	TOTAL		Rs. 12.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1080000	Equity Shares	Rs.10/- each	Rs. 10.800 Millions
30000	10 % Cumulative Preference Shares	Rs.10/- each	Rs. 0.300 Million
	TOTAL		Rs. 11.100 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	11.100	0.700
(b) Reserves & Surplus	43.806	5.361
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	54.906	6.061
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	81.316	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	81.316	0.000
(4) Current Liabilities
(a) Short term borrowings	47.578	19.936
(b) Trade payables	33.014	0.028
(c) Other current liabilities	40.418	5.017
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	121.010	24.981
TOTAL	257.232	31.042
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.411	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.447	0.012
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.026
Total Non-Current Assets	0.858	0.038
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	222.161	24.962
(c) Trade receivables	1.800	0.000
(d) Cash and cash equivalents	29.578	6.042
(e) Short-term loans and advances	2.835	0.000
(f) Other current assets	0.000	0.000
Total Current Assets	256.374	31.004
TOTAL	257.232	31.042

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.004)
NETWORTH		0.096
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.096
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.100
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		0.100
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.036
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.036
Net Current Assets		0.064
MISCELLANEOUS EXPENSES		0.032
TOTAL		0.096

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	0.015	0.000	0.000
		Other Income
		TOTAL	0.015	0.000	0.000
Less	EXPENSES
		Cost of Material Consumed	1.605	0.048	0.004
		Purchase of Stock In Trade
		Employee benefits expenses
		TOTAL	1.605	0.048	0.004
	PROFIT / (LOSS) BEFORE TAX		(1.590)	(0.048)	(0.004)
Less	TAX		(0.435)	(0.012)	0.000
	PROFIT / (LOSS) AFTER TAX		(1.155)	(0.036)	(0.004)
	Earnings / (Loss) Per Share (Rs.)		(1.07)	--	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(7700.00)	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(0.62)	(0.15)	(4.00)
Return on Investment (ROI) (PBT/Networth)		(0.03)	(0.01)	(0.04)
Debt Equity Ratio (Total Debt /Networth)		0.87	3.29	0.00
Current Ratio (Current Asset/Current Liability)		2.12	1.24	2.78

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	Yes
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	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Unsecured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Short Term Borrowings	28.966	1.236
Loans from Directors and Shareholders
Hare Krishna Investment and Trading Company (Private) Limited	0.000	0.309
Loan – Pramod Kumar Jain (HUF)	1.027	0.927
Ankur Jain	0.002	0.000
Lajja Jain	5.067	0.000
Stuti Jain	22.870	0.000
From Other Body Corporate
Agara Conductors and Electrical (Private) Limited	0.000	0.500
Alankrit Holding and Finlease (Private) Limited	0.000	0.250
Aptech Finlease (Private) Limited	0.000	1.000
Deepak Holding and Credit (Private) Limited	0.000	2.000
Jindal Capsec (Private) Limited	0.000	0.500
Paska Constructions (Private) Limited	0.000	3.000
Shiva Handicrafts (Private) Limited	0.000	8.450
Kanbal Hotels (Private) Limited	0.000	3.000
ASPL	2.506	0.000
TOTAL	31.472	19.936

VIEW INDEX OF CHARGES

S. No	Charge ID	Date of Charge Creation /Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN
1	10293534	05/06/2011	20,000,000.00	STATE BANK OF INDIA	SIB BRANCH, SANJAY PLACE, AGRA, UTTAR PRADESH - 282002, INDIA	B15473572
* Date of charge modification

COMPANY OVERVIEW

Subject has been registered on 14^th March 2010 with the main object of construction of building, flats, houses, commercial centers, business parks etc.

YEAR IN RETROSPECT

During the year the company has not earned any income from its business operation. As the company is in the business of real estate, it requires long time to generate revenue. The company is in the process of starting various project, after completion of which the company will earn revenue. The other income of the company was Rs. 0.015 Millions as against nil in the previous year. The company had suffered loss due to its administrative, finance and other expenses amounting to Rs.1.590 Millions against loss of Rs. 0.048 Million in previous year. The directors are putting in their best efforts to improve the performance of the company.

FIXED ASSETS

· Computer

· Office Equipments

· Furniture and Fixtures

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. 61.30
UK Pound	1	Rs. 97.98
Euro	1	Rs. 83.14

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	4
--CREDIT LINES	1~10	2
--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	--

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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.