MIRA INFORM REPORT

Report Date :

25.09.2013

IDENTIFICATION DETAILS

Name :	ADITYA INFOTECH LIMITED (w.e.f. 11.09.1997)
Formerly Known As :	PERFECT LUCKY GOLDSTAR INTERNATIONAL LIMITED
Registered Office :	Khemka Center, 2-5 DDA Building, Nehru Place, New Delhi-110 019
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	27.03.1995
Com. Reg. No.:	55-066784
Capital Investment / Paid-up Capital :	Rs.25.000 Millions
CIN No.: [Company Identification No.]	U74899DL1995PLC066784
PAN No.: [Permanent Account No.]	AABCA1601R
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of marketing and distribution of Computer Hardware and Software, Computer Systems
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. The company performance capacity seems to be good. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual trade terms and condition.

NOTES :

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

ECGC Country Risk Classification List – 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	BBB (Long Term Rating)
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	31.10.2012

Rating Agency Name	CRISIL
Rating	A3+ (Short Term Rating)
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	31.10.2012

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 :	Khemka Center, 2-5 DDA Building, Nehru Place, New Delhi-110019, India
Tel. No.:	91-11-26223810/3811/26452211/2212
Fax No.:	91-11-26227979/26232212
E-Mail :	naveen_jain@adityagroup.com arvind_jain@adityagroup.com
Website :	www.adityagroup.com
Corporate Office :	Khemka Centre, 2- 5, Nehru Place, New Delhi- 110019, India
Tel. No.:	91-11-46665666, 26223810/ 11
Fax No.:	91-11-26227979, 46665600
E-Mail :	sales@adityagroup.com
Head Office :	A-12, Sector 4, Noida, Delhi NCR, Delhi - 201301, India
Tel. No.:	91-120-4555666
Fax No.:	91-11-46665600

DIRECTORS

As on 30.09.2011

Name :

Mr. Hari Shanker Khemka

Designation :

Whole- time director

Address :

C- 29, Friends Colony, New Delhi- 110065, India

Date of Birth/Age :

08.11.1953

Qualification :

B.SC.

Date of Appointment :

01.04.2012

PAN No.:

AAEPK8265B

DIN No.:

00514501

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	U74899DL1986PTC025459	ADITYA ECOLOGICAL PROJECTS PRIVATE LTD	Director	15/09/1986	15/09/1986	-	Active	NO
2	U74899DL1987PTC028206	ADITYA COLONIZERS PVT LTD	Director	04/06/1987	04/06/1987	-	Active	NO
3	U51495DL1987PLC028576	ADITYA PROMOTERS LIMITED.	Director	10/07/1987	10/07/1987	29/08/2011	Active	NO
4	U74899DL1995PLC066784	ADITYA INFOTECH LIMITED	Whole-time director	01/04/2012	27/03/1995	-	Active	NO
5	U72900DL2001PLC113103	INT INFOSOLUTION INDIA LIMITED	Director	09/11/2001	09/11/2001	-	Active	NO
6	U51909DL2009PTC188190	NSC INTERNATIONAL PRIVATE LIMITED	Director	05/03/2009	05/03/2009	-	Active	NO
7	U72900DL2012PTC238615	ARK INFOSOLUTIONS PRIVATE LIMITED	Director	10/07/2012	10/07/2012	-	Active	NO

Name :

Mr. Aditya Khemka

Designation :

Whole- time director

Address :

C- 29, Friends Colony, New Delhi- 110065, India

Date of Birth/Age :

27.10.1974

Qualification :

B.Com, MBA

Date of Appointment :

01.04.2012

PAN No.:

AAEPK1216E

DIN No.:

00514552

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	U51495DL1987PLC028576	ADITYA PROMOTERS LIMITED.	Director	31/03/1993	31/03/1993	29/08/2011	Active	NO
2	U74899DL1995PLC066784	ADITYA INFOTECH LIMITED	Whole-time director	01/04/2012	27/03/1995	-	Active	NO
3	U72900DL2000PTC103575	ADITYA INFOSOLUTIONS PRIVATE LIMITED	Director	02/02/2000	02/02/2000	30/08/2011	Active	NO
4	U72900DL2001PLC113103	INT INFOSOLUTION INDIA LIMITED	Director	09/11/2001	09/11/2001	-	Active	NO
5	U74120HR2008PTC038655	Best Prins Ecotech Private Limited	Director	30/08/2011	17/09/2010	07/06/2012	Active	NO
6	U72900DL2011PTC217677	CP Plus India Private Limited	Director	18/04/2011	18/04/2011	-	Active	NO
7	U72900DL2012PTC238615	ARK INFOSOLUTIONS PRIVATE LIMITED	Director	10/07/2012	10/07/2012	-	Active	NO

Name :

Mr. Rishi Khemka

Designation :

Director

Address :

C- 29, Friends Colony, New Delhi- 110065, India

Date of Birth/Age :

25.12.1976

Qualification :

B.Com, MBA

Date of Appointment :

01.04.2012

PAN No.:

AADPK4223E

DIN No.:

00514590

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	U72900DL2000PTC103575	ADITYA INFOSOLUTIONS PRIVATE LIMITED	Director	02/02/2000	02/02/2000	30/08/2011	Active	NO
2	U72900DL2001PLC113103	INT INFOSOLUTION INDIA LIMITED	Director	01/03/2005	01/03/2005	-	Active	NO
3	U74899DL1995PLC066784	ADITYA INFOTECH LIMITED	Whole-time director	01/04/2012	01/05/2005	-	Active	NO
4	U72900DL2011PTC217677	CP Plus India Private Limited	Director	18/04/2011	18/04/2011	-	Active	NO
5	U72900DL2012PTC238615	ARK INFOSOLUTIONS PRIVATE LIMITED	Director	10/07/2012	10/07/2012	-	Active	NO

Name :

Mr. Gaurav Khemka

Designation :

Director

Address :

C- 29, Friends Colony, New Delhi- 110065, India

Date of Birth/Age :

25.07.1980

Qualification :

B.Com, MBA

Date of Appointment :

18.06.2005

PAN No.:

AEOPK4823M

DIN No.:

00514701

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	U74899DL1995PLC066784	ADITYA INFOTECH LIMITED	Director	18/06/2005	18/06/2005	-	Active	NO
2	U72900DL2000PTC103575	ADITYA INFOSOLUTIONS PRIVATE LIMITED	Director	07/12/2006	07/12/2006	30/08/2011	Active	NO
3	U51909DL2009PTC188190	NSC INTERNATIONAL PRIVATE LIMITED	Director	05/03/2009	05/03/2009	-	Active	NO

Name :

Mr. Surendra Kumar Khemka

Designation :

Director

Address :

C- 29, Friends Colony, New Delhi- 110065, India

Date of Birth/Age :

04.11.1958

Date of Appointment :

27.03.1995

PAN No.:

AADPK4222F

DIN No.:

00514372

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	U74899DL1987PTC028206	ADITYA COLONIZERS PVT LTD	Director	04/06/1987	04/06/1987	-	Active	NO
2	U51495DL1987PLC028576	ADITYA PROMOTERS LIMITED.	Director	10/07/1987	10/07/1987	01/10/2011	Active	NO
3	U74899DL1995PLC066784	ADITYA INFOTECH LIMITED	Director	27/03/1995	27/03/1995	22/06/2012	Active	NO
4	U72900DL2000PTC103575	ADITYA INFOSOLUTIONS PRIVATE LIMITED	Director	29/08/2011	29/08/2011	-	Active	NO

Name :

Mr. Anand Kumar Khemka

Designation :

Director

Address :

C- 29, Friends Colony, New Delhi- 110065, India

Date of Birth/Age :

03.07.1955

Date of Appointment :

27.02.1999

PAN No.:

AAEPK2770R

DIN No.:

00514629

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	U74899DL1987PTC028206	ADITYA COLONIZERS PVT LTD	Director	04/06/1987	04/06/1987	-	Active	NO
2	U51495DL1987PLC028576	ADITYA PROMOTERS LIMITED.	Director	10/07/1987	10/07/1987	-	Active	NO
3	U74899DL1987PTC027666	TREND SETTER PROMOTERS PRIVATE LTD	Director	10/08/1992	10/08/1992	-	Active	NO
4	U74899DL1995PLC066784	ADITYA INFOTECH LIMITED	Director	27/02/1999	27/02/1999	22/06/2012	Active	NO
5	U72900DL2000PTC103575	ADITYA INFOSOLUTIONS PRIVATE LIMITED	Director	02/02/2000	02/02/2000	30/08/2011	Active	NO

MAJOR SHAREHOLDERS

As on 30.09.2011

Names of Shareholders	No. of Shares
Hari Shankar Khemka	252863
Govind Kumar Khemka	75563
Surendra Kumar Khemka	238781
Indu Khemka	121816
Aditya Kumar Khemka	238169
Urmila Khemka	103104
Anand Kumar Khemka	130164
Rishi Kumar Khemka	250000
Anand Kumar Khemka	97120
Prabha Khemka	163807
Aruna Khemka	140000
Gaurav Khemka	250000
Surendra Kumar Khemka (HUF)	14403
Hari Shankar Khemka (HUF)	19033
Aditya Khemka (HUF)	514
Shradha Khemka	11317
Vikramaditya Khemka	7716
Govind Kumar Khemka	135630
Raghav Khemka	250000
Total	2500000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of marketing and distribution of Computer Hardware and Software, Computer Systems

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Tamilnad Mercantile Bank Limited, 384- 390, First Floor, Lok Nath Building, Chandni Chowk, Delhi- 110006, Delhi, India
• Kotak Mahindra Bank Limited, 36- 38A, Nariman Bhavan, 227D, Nariman Point, Mumbai- 400021, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWINGS
Rupee term loans from banks	36.214	38.932
SHORT TERM BORROWINGS
Rupee term loans from banks	487.116	332.505
Total	523.330	371.437

Banking Relations :	--
Auditors :
Name :	D. P. Kapoor and Company Chartered Accountants
Address :	N- 52, Connaught Circus, Opposite Scindia House, New Delhi- 110001
Tel. No.:	91- 11- 23313201, 41523262
E-Mail :	dpkca@yahoo.com
PAN No.:	AACFD8687Q
Subsidiary Company:	Aditya Infotech (HK) limited CP Plus FZE (UAE) CP Plus GMBH Company KG C P Plus Management GMBH
Other Related Parties :	Aggarwal Textile Company Newsprint Sales Corporation Aditya Ecological Projects Private Limited CIN No.: U74899DL1986PTC025459 ADITYA COLONIZERS Private Limited CIN No.: U74899DL1987PTC028206 Aditya Infosolutions Private limited CIN No.: U72900DL2000PTC103575 Aditya Promoters Limited CIN No.: U51495DL1987PLC028576 Trend Setter Promoters Private Limited NSC International Private Limited CIN No.: U51909DL2009PTC188190 Aditya Infomarketting Private Limited

CAPITAL STRUCTURE

As on: 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs.25.000 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	25.000	25.000
(b) Reserves & Surplus	195.094	125.217
(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)	220.094	150.217
(3) Non-Current Liabilities
(a) long-term borrowings	169.389	59.600
(b) Deferred tax liabilities (Net)	5.275	4.452
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	174.664	64.052
(4) Current Liabilities
(a) Short term borrowings	500.492	348.580
(b) Trade payables	370.651	185.853
(c) Other current liabilities	62.283	42.412
(d) Short-term provisions	53.138	44.426
Total Current Liabilities (4)	986.564	621.271
TOTAL	1381.322	835.540
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	107.910	106.072
(ii) Intangible Assets	5.528	5.376
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	12.122	10.102
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	2.136	1.162
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	127.696	122.712
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	273.988	143.896
(c) Trade receivables	601.542	432.896
(d) Cash and cash equivalents	300.195	74.082
(e) Short-term loans and advances	7.623	6.454
(f) Other current assets	70.278	55.500
Total Current Assets	1253.626	712.828
TOTAL	1381.322	835.540

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		25.000
2] Share Application Money		0.000
3] Reserves & Surplus		66.231
4] (Accumulated Losses)		0.000
NETWORTH		91.231
LOAN FUNDS
1] Secured Loans		12.934
2] Unsecured Loans		47.223
TOTAL BORROWING		60.157
DEFERRED TAX LIABILITIES		3.136
TOTAL		154.524
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		28.169
Capital work-in-progress		0.000
INVESTMENT		8.278
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	98.658
	Sundry Debtors	284.169
	Cash & Bank Balances	73.240
	Other Current Assets	24.281
	Loans & Advances	44.792
Total Current Assets		525.140
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	339.094
	Other Current Liabilities	44.284
	Provisions	23.685
Total Current Liabilities		407.063
Net Current Assets		118.077
MISCELLANEOUS EXPENSES		0.000
TOTAL		154.524

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	2793.242	2018.861	1515.910
		Other Income	11.814	6.688	2.205
		TOTAL (A)	2805.056	2025.549	1518.115
Less	EXPENSES
		Purchases of stock-in-trade	2385.111	1711.734	1428.666
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(130.092)	(45.238)
		Employee benefit expense	176.298	119.678
		Other expenses	170.725	114.752
		TOTAL (B)	2602.042	1900.926	1428.666
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		203.014	124.623	89.449
Less	FINANCIAL EXPENSES (D)		90.397	25.621	15.350
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		112.617	99.002	74.099
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.417	6.107	4.346
	PROFIT BEFORE TAX (E-F) (G)		104.200	92.895	69.753
Less	TAX (H)		34.323	33.909	24.360
	PROFIT AFTER TAX (G-H) (I)		69.877	58.986	45.393
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		125.217	66.231	20.837
	BALANCE CARRIED TO THE B/S		195.094	125.217	66.231
	EARNINGS IN FOREIGN CURRENCY
		Export of goods calculated on FOB basis	6.454	5.691	0.000
		Commission Indenting Export	0.000	0.000	4.487
		Export of Services	8.264	3.874	0.000
		Interest	0.093	0.051	0.000
		Incentive/ TOD	28.848	23.649	0.000
		Export Sales	0.000	0.000	80.327
	TOTAL EARNINGS		43.659	33.265	84.814
	IMPORTS
		Traded Goods	NA	15.298	1064.809
	TOTAL IMPORTS		NA	15.298	1064.809
	Earnings Per Share (Rs.)		27.95	23.59	18.16

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.49	2.91	2.99
Net Profit Margin (PBT/Sales)	(%)	3.73	4.60	4.60
Return on Total Assets (PBT/Total Assets}	(%)	7.61	11.25	12.61
Return on Investment (ROI) (PBT/Networth)		0.47	0.62	0.76
Debt Equity Ratio (Total Debt /Networth)		3.04	2.72	0.66
Current Ratio (Current Asset/Current Liability)		1.27	1.15	1.29

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 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	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

UNSECURED LOAN:

(Rs. In Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWINGS
Deposits from directors	3.450	4.600
Deposits from shareholders	4.725	12.500
Intercorporate deposits	17.500	3.568
Other loans and advances	107.500	0.000
SHORT TERM BORROWINGS
Deposits	13.376	16.075
Total	146.551	36.743

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10017465	09/11/2009 *	60,500,000.00	TAMILNAD MERCANTILE BANK LTD	384-390,FIRST FLOOR, LOKE NATH BUILDING, CHANDNI CHOWK, NEW DELHI, Delhi - 110006, INDIA	A75507764
2	80010136	24/05/2013 *	1,139,000,000.00	TAMILNAD MERCANTILE BANK LIMITED	384-390, First Floor, Loke Nath Building, Chandni Chowk, Delhi, Delhi - 110006, INDIA	B76463561

* Date of charge modification

FIXED ASSETS:

• Building
• Office Equipments
• Computers and Peripherals
• Furniture and Fixture and Fittings
• Generator
• Vehicle

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.62.66
UK Pound	1	Rs.100.46
Euro	1	Rs.84.60

INFORMATION DETAILS

Report Prepared by :

RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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.