1. Summary Information

		Country	India
Company Name	AMORPHOS CHEMICALS PRIVATE LIMITED	Principal Name 1	Mr. Yogesh Kumar Aggarwal
Status	Moderate	Principal Name 2	Ms. Sapna Agarwal
		Registration #	55-056531
Street Address	E-1/15, 2^nd Floor, Sector – 7, Rohini, Delhi – 110085, India
Established Date	20.12.1993	SIC Code	--
Telephone#	91-11-27296596	Business Style 1	Trader
Fax #	91-11-47096835	Business Style 2	--
Homepage	www.amorphos.co.in	Product Name 1	Chemicals
# of employees	32 (Approximately)	Product Name 2	Polyster Film
Paid up capital	Rs.49,000,000/-	Product Name 3	--
Shareholders	Bodies corporate – 6.12% Directors or relatives of Directors – 93.88%	Banking	Standard Chartered Bank
Public Limited Corp.	No	Business Period	21 (Years)
IPO	No	International Ins.	--
Public Enterprise	No	Rating	B (30)
Related Company
Relation	Country	Company Name	CEO
Related Party (As on 31.03.2012) :	India	Amorphos Packaging Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	353,310,000	Current Liabilities	180,936,000
Inventories	37,959,000	Long-term Liabilities	149,842,000
Fixed Assets	5,987,000	Other Liabilities	5,411,000
Deferred Assets	562,000	Total Liabilities	336,189,000
Invest& other Assets	3,537,000	Retained Earnings	16,166,000
		Net Worth	65,166,000
Total Assets	401,355,000	Total Liab. & Equity	401,355,000
Total Assets (Previous Year)	386,291,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales (Including Other Income)	808,604,000	Net Profit	5,619,000
Sales(Previous yr)	793,208,000	Net Profit(Prev.yr)	2,231,000

MIRA INFORM REPORT

Report Date :

21.04.2014

IDENTIFICATION DETAILS

Name :	AMORPHOS CHEMICALS PRIVATE LIMITED
Registered Office :	E-1/15, 2^nd Floor, Sector – 7, Rohini, Delhi – 110085
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	20.12.1993
Com. Reg. No.:	55-056531
Capital Investment / Paid-up Capital :	Rs.49.000 Millions
CIN No.: [Company Identification No.]	U74899DL1993PTC056531
TAN No.: [Tax Deduction & Collection Account No.]	DELA04803B
PAN No.: [Permanent Account No.]	AAACA4938L
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of Chemicals and Polyster Film.
No. of Employees :	32 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 261000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company possesses a moderate financial profile marked by very low position of reserve along with high financial leverage and receivables during 2013. The rating also take into consideration the small scale of operations and low margins due to trading nature of its business. However, trade relations appears to be fair. Business is active. Payment terms are reported as slow but correct. The company can be considered for business dealings with some caution. Reserves appear to be insufficient. However, trade relations are reported as fair. Business is active. Payments terms are unknown. The company can be considered for business dealings 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, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

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 :	Ms. Nitu Oswal
Designation :	Accounts Manager
Contact No.:	91-9873402625
Date :	08.04.2014

LOCATIONS

Registered Office / Corporate Office :	E-1/15, 2^nd Floor, Sector – 7, Rohini, Delhi – 110085, India
Tel. No.:	91-11-27296596 / 47096831 / 47096832 / 47096833 / 47096834
	91-9811224356 (Mr. Yogesh Agarwal) 91-9718575094 (Mr. Niaz Ahmad) 91-9873402625 (Ms. Nitu Oswal)
Fax No.:	91-11-47096835/ 47011659/ 27296589
E-Mail :	caashok110@gmail.com amorphosedelhi@gmail.com
Website :	www.amorphos.co.in
Branches :	Dehradun Shop No. 7, Village Kandal, Opp. Green Land Public School, Bhaniyawala, Dehradun Rishikesh Highway, Dehradun-248 140, Uttrakhand Mumbai Office No. 110, Swastik Plaza, Near Voltas Co., Pokharan Road No.2, Subhash Nagar, Thane (West)-400601, Maharashtra, India Tel No.:92-22-40241108 E-mail : amorphosmumbai@gmail.com Kolkata Premises No.5, Hide Road, Kolkata – 700043, West Bangal Tel No. : 91-33-24210405 E-mail : amorphoscalcutta1@gmail.com Vapi Plot No. 316, Center Point, Shop No. 101, Shopping Center, 1st Floor, 40 Shed Area, GDIC, Vapi-396195, Gujarat E-mail : amorphosvapi@gmail.com Chennai 4/9, Circular Road United India Colony, Kodambakkam, Chennai - 600 024, Tamilnadu, India Tel No. : 91-44-43565286 E-mail : amorphoschennai@gmail.com Morbi Shop No.-18, 1st Floor, Ceramic Plaza-2, 8A National Highway, Morbi-363642, Gujarat E-mail : amorphosvapi@gmail.com

DIRECTORS

As on 30.09.2013

Name :

Mr. Yogesh Kumar Aggarwal

Designation :

Managing Director

Address :

K 3D, Saket, New Delhi – 110017, Delhi, India

Date of Birth/Age :

25.11.1965

Date of Appointment :

20.12.1993

DIN No.:

01317635

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
	U74899DL1993PTC056531	AMORPHOS CHEMICALS PRIVATE LIMITED	Managing director	20/12/1993	20/12/1993	-	Active	NO
2	U74950DL2001PTC110147	AMORPHOS PACKAGING PRIVATE LIMITED	Director	01/11/2007	01/11/2007	01/12/2011	Active	NO
3	U51909DL2011PTC216358	MS HARI OM TRADING COMPANY PRIVATE LIMITED	Additional director	04/04/2011	04/04/2011	-	Active	NO
4	L24119DL1995PLC071851	AMORPHOS INDUSTRIES LIMITED	Managing director	04/06/2011	04/06/2011	-	Active	NO

Name :

Ms. Sapna Agarwal

Designation :

Director

Address :

K 3D, Saket, New Delhi – 110017, Delhi, India

Date of Birth/Age :

05.11.1966

Date of Appointment :

16.03.2006

DIN No.:

00052272

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	U74999UP1969PTC003256	VAISH BROTHERS AND COMPANY PRIVATE LIMITED	Director	18/10/2004	18/10/2004	-	Active	NO
2	U74899DL1993PTC056531	AMORPHOS CHEMICALS PRIVATE LIMITED	Director	16/03/2006	16/03/2006	-	Active	NO
3	U24100DL2008PTC177091	AQUASHIELD CHEMTECH PRIVATE LIMITED	Director	23/04/2008	23/04/2008	01/08/2013	Active	NO
4	U51909DL2011PTC216358	MS HARI OM TRADING COMPANY PRIVATE LIMITED	Additional director	04/04/2011	04/04/2011	-	Active	NO
5	L24119DL1995PLC071851	AMORPHOS INDUSTRIES LIMITED	Director	20/09/2011	04/06/2011	-	Active	NO
6	U74950DL2001PTC110147	AMORPHOS PACKAGING PRIVATE LIMITED	Director	01/07/2013	01/07/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Raj Kumar
Designation :	Office Executive
Name :	Ms. Nitu Oswal
Designation :	Accounts Manager

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Kumar Yogesh Agarwal	414950
Sapna Agarwal	42200
Jai Kishan Dass Agarwal	50
Aman Vaish	50
Rajeev Vaish	2150
Aditya Agarwal	600
NDH Port Folio and Leasing Private Limited, India	10000
Corporate International Financial Services Limited, India	5000
Agarwal Port Folio Services Limited, New Delhi	8000
NDH Securities and Finance Private Limited, New Delhi	7000
Total	490000

As on 21.02.2014

Names of Allottees	No. of Shares
Kumar Yogesh Agarwal	97500
Sapna Agarwal	12500
Total	110000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Bodies corporate	6.12
Directors or relatives of Directors	93.88
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading of Chemicals and Polyster Film.
Imports :
Products :	Raw Material
Countries :	China Korea
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

No. of Employees :

32 (Approximately)

Bankers :

• Standard Chartered Bank, 10, Parliament Street Branch, New Delhi - 110001, India
• The Hongkong and Shanghai Banking Corporation Limited, New Delhi, India
• Chinatrust Commercial Bank A-1/16, Wenger House, Rajiv Chowk, Connaught Place, New Delhi - 110001, India
• The Bank of Rajasthan Limited, A- 6, Sarai Pipal Thala Extension, Adarsh Nagar, Delhi - 110033, India

Facilities :

SECURED LOANS	31.03.2012 Rs. In Millions
Vehicles Loans*	3.993
Factoring Limit with BIBBY Financial Services	33.529
Bills Discounted from China Trust Comm. Bank	46.925
Standard Chartered Loan Against Property **	13.211
Total	97.658

Notes:

1. Vehicle loans are secured by hypothecation of vehicles that have been acquired. Amount due within one year Rs.1.750 Millions (Previous year Rs.2.627 millions).
2. Loan Against Property is secured against personal land and building of directors amount due within one year Rs.1.221 Millions (Previous year Rs.1.095 Millions).

Banking Relations :	--
Auditors :
Name :	Ashok Abhineet and Associates Chartered Accountant
Address :	501, Sharp Bhavan, Commercial Complex, Azadpur, Delhi – 110033, Delhi, India
Tel No :	91-11-27674061
PAN No :	AAGPJ0497A
Related Party (As on 31.03.2012) :	Amorphos Packaging Private Limited Aljnya Enterprises Regal Overseas Corporation

CAPITAL STRUCTURE

After 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
490000	Equity Shares	Rs.100/- each	Rs.49.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
600000	Equity Shares	Rs.100/- each	Rs.60.000 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
490000	Equity Shares	Rs.100/- each	Rs.49.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
490000	Equity Shares	Rs.100/- each	Rs.49.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	49.000
(b) Reserves & Surplus	16.166
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	65.166
(3) Non-Current Liabilities
(a) long-term borrowings	149.842
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	149.842
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	171.493
(c) Other current liabilities	9.443
(d) Short-term provisions	5.411
Total Current Liabilities (4)	186.347
TOTAL	401.355
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.987
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.562
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.058
Total Non-Current Assets	6.607
(2) Current assets
(a) Current investments	0.000
(b) Inventories	37.959
(c) Trade receivables	322.122
(d) Cash and cash equivalents	13.401
(e) Short-term loans and advances	17.787
(f) Other current assets	3.479
Total Current Assets	394.748
TOTAL	401.355

SOURCES OF FUNDS		31.03.2012	31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		40.000	40.000
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		10.546	8.421
4] (Accumulated Losses)		0.000	0.000
NETWORTH		50.546	48.421
LOAN FUNDS
1] Secured Loans		97.656	95.080
2] Unsecured Loans		41.719	13.996
TOTAL BORROWING		139.375	109.076
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		189.921	157.497
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.955	7.335
Capital work-in-progress		0.000	0.000
INVESTMENT		2.000	2.000
DEFERRED TAX ASSETS		0.430	0.149
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	58.475	70.961
	Sundry Debtors	298.049	251.546
	Cash & Bank Balances	6.274	3.367
	Other Current Assets	2.813	0.252
	Loans & Advances	11.295	21.911
Total Current Assets		376.906	348.037
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	193.122	143.127
	Other Current Liabilities	0.482	54.129
	Provisions	2.766	2.768
Total Current Liabilities		196.370	200.024
Net Current Assets		180.536	148.013
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		189.921	157.497

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income			793.208	621.628
		Other Income			1.635	1.761
		TOTAL		808.604	794.843	623.389
Less	EXPENSES
		Purchased of stock in trade			672.283	578.006
		Changes in inventories and finished goods			12.486	(46.621)
		Other direct expenses			33.017	25.731
		Employee benefit Expenses			13.888	11.039
		Other Administrative and selling expenses			30.310	35.074
		Other Expenses			7.959	0.000
		TOTAL		779.940	769.943	603.231
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION			28.664	24.900	20.158
Less	FINANCIAL EXPENSES			18.714	19.463	13.225
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION			9.950	5.437	6.993
Less	DEPRECIATION/ AMORTISATION			1.818	2.314	2.314
Less	EXTRAORDINARY ITEMS			0.000	0.000	1.949
	PROFIT/(LOSS) BEFORE TAX			8.132	3.123	2.670
Less	TAX			2.513	0.892	1.373
	PROFIT/(LOSS) AFTER TAX			5.619	2.231	1.297
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			5.041	2.916	1.619
Less	APPROPRIATIONS
			Tax related to earlier year	NA	0.106	0.000
	BALANCE CARRIED TO THE B/S			NA	5.041	2.916
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	0.000	0.000	0.137
	TOTAL EARNINGS			0.000	0.000	0.137
	IMPORTS
			Traded Goods	220.940	212.049	215.282
	TOTAL IMPORTS			220.940	212.049	215.282
	Earnings Per Share (Rs.)			11.46	5.58	6.99

Expected Sales (2013-2014): Rs.960.000 Millions

Above information parted by Ms. Nitu Oswal.

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.69	0.28	0.21
Net Profit Margin (PBT/Sales)	(%)	NA	0.39	0.43
Return on Total Assets (PBT/Total Assets}	(%)	2.03	0.81	0.75
Return on Investment (ROI) (PBT/Networth)		0.12	0.06	0.06
Debt Equity Ratio (Total Debt /Networth)		2.30	2.76	2.25
Current Ratio (Current Asset/Current Liability)		2.12	1.92	1.74

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	40.000	40.000	49.000
Reserves & Surplus	8.421	10.546	16.166
Net worth
Borrowings	109.076	139.375	149.842
Total borrowings	109.076	139.375	149.842
Debt/Equity ratio	2.253	2.757	2.299

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	623.389	794.843	808.604
		27.504	1.731

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	623.389	794.843	808.604
Profit	1.297	2.231	5.619
	0.21%	0.28%	0.69%

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	Yes
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	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
From Others than Banks and Financial Institutions	13.143
From Banks and Financial Institutions	6.080
Cash Credit Limit with China Trust Commercial Bank (China Trust Commercial)	8.785
Working Capital Loan (Import Loan From china)	13.711
Total	41.719

Notes:

Cash Credit limit with China Trust Commercial Bank is against hypothecation of stocks and book debts

BACKGROUND

The Company was incorporated in India on December 20, 1993. The Company is engaged in the business of trading of chemicals and polyster film.

The accompanying financial statements reflect the results of the activities undertaken by the company during the year ended March 31, 2013.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10359748	10/05/2013 *	139,000,000.00	Standard Chartered Bank	10, Parliament Street, New Delhi, Delhi - 110001, India	B76103845
2	10206775	14/09/2010 *	60,000,000.00	Bibby Financial Services (India) Private Limited	121, First Floor, Sector - 44, Gurgaon, Haryana - 122003, India	A94224797

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.38
UK Pound	1	Rs.101.63
Euro	1	Rs.83.57

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	SUB
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	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.