MIRA INFORM REPORT

Report Date :

21.04.2014

IDENTIFICATION DETAILS

Name :	DYANAMIC ENGINEERS LIMITED (w.e.f. 30.03.2012)
Formerly Known As :	DYANAMIC ENGINEERS PRIVATE LIMITED
Registered Office :	106, Delhi Chambers, 3439, Delhi Gate, New Delhi – 110 002
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	17.07.1996
Com. Reg. No.:	55-080423
Capital Investment / Paid-up Capital :	Rs.15.090 millions
CIN No.: [Company Identification No.]	U74899DL1996PLC080423
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Control Panel and Parts of Control Panels.
No. of Employees :	110 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 107000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Reserves of the company is low. However, company sales and profit and increased as compared to previous years. Trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing 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, 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 :	Mr. Manjeet Singh
Designation :	Assistant Manager - Accounts
Contact No.:	91-9313118898
Date :	17.04.2014

LOCATIONS

Registered Office :	106, Delhi Chambers, 3439, Delhi Gate, New Delhi – 110 002, India
Tel. No.:	91-11-23287004
Mobile No.:	91-9313118898 (Mr. Manjeet Singh)
Fax No.:	91-11-23287004
E-Mail :	sanjay.bhatia@depl.biz accounts@depl.biz pankaj.verma@depl.biz dyanamic@del3.vsnl.net.in c_mk_1945@yahoo.com magniphi@gmail.com
Website :	http://www.depl.biz
Location :	Owned
Corporate Office/ Factory 1:	D-94, 1^st Floor, Sector - 63, G.B. Nagar, Noida – 201 301, Uttar Pradesh, India
Tel. No.:	91-120-4787500 (30 Lines)
Fax No.:	91-120-4787505
Factory 2:	D-84, Ground Floor, Sector - 63, G.B. Nagar, Noida – 201 301, Uttar Pradesh, India
Tel No.:	91-120-4295494
Area :	3000 sq. ft.
Location :	Rented
Branch Office 1 :	SCF-45, Top Floor, Phase-9, Fortis Hospital, Mohali, Punjab, India
Tel. No.:	91-172-4014316/ 4014319
Branch Office 2 :	Plot No.81, 2^nd Floor, Synicate Bank Colony, West Maredpally, Secunderabad – 500 026, Andhra Pradesh, India
Tel. No.:	91-40-40264714

DIRECTORS

AS ON 18.07.2013

Name :

Mr. Sanjay Bhatia

Designation :

Managing Director

Address :

G-195, Pushkar Enclave, Paschim Vihar, New Delhi – 110 063, India

Date of Birth/Age :

04.11.1967

Date of Appointment :

01.04.2012

DIN No.:

00896900

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	U74899DL1996PLC080423	DYANAMIC ENGINEERS LIMITED	Managing director	01-04-2012	17-07-1996	-	Active	NO
2	U80900DL2012PTC233855	DIAC EDUCOM PRIVATE LIMITED	Director	02-04-2012	02-04-2012	-	Active	NO
3	U67190DL2012PTC237825	S.M.B. HOLDINGS PRIVATE LIMITED	Director	21-06-2012	21-06-2012	-	Active	NO

Name :

Mr. Anil Kumar Sehgal

Designation :

Managing Director

Address :

32-A, Block-B, East Azad Nagar, New Delhi – 110 051, India

Date of Birth/Age :

07.01.1965

Date of Appointment :

01.04.2012

DIN No.:

01110472

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	U74899DL1996PLC080423	DYANAMIC ENGINEERS LIMITED	Managing director	01-04-2012	17-07-1996	-	Active	NO
2	U80900DL2012PTC233855	DIAC EDUCOM PRIVATE LIMITED	Director	02-04-2012	02-04-2012	-	Active	NO
3	U67190DL2013PTC248669	JNJA INVESTMENTS PRIVATE LIMITED	Director	21-02-2013	21-02-2013	-	Active	NO

Name :

Mr. Pankaj Verma

Designation :

Managing Director

Address :

48-C, LIG Flats Pkt. D, Ashok Vihar, Phase-3, New Delhi – 110 052, India

Date of Birth/Age :

27.07.1971

Date of Appointment :

01.04.2012

DIN No.:

02531777

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	U74899DL1996PLC080423	DYANAMIC ENGINEERS LIMITED	Managing director	01-04-2012	13-03-2009	-	Active	NO
2	U31900DL2012PTC233110	DYCON SYSTEMS PRIVATE LIMITED	Director	19-03-2012	19-03-2012	15-03-2013	Active	NO
3	U80900DL2012PTC233855	DIAC EDUCOM PRIVATE LIMITED	Director	02-04-2012	02-04-2012	-	Active	NO

Name :

Mrs. Kumud Bhatnagar

Designation :

Director

Address :

B-302, Kaveri Apartment, Alaknanda Kalkaji, New Delhi – 110 019, India

Date of Birth/Age :

29.12.1944

Date of Appointment :

29.09.2012

DIN No.:

02849122

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	U40300DL2009PTC192606	MADHYM INFRA POWER PRIVATE LIMITED	Director	05-07-2010	03-12-2009	11-10-2013	Active	NO
2	U74899DL1996PLC080423	DYANAMIC ENGINEERS LIMITED	Director	29-09-2012	17-08-2012	-	Active	NO

Name :

Mr. Mahinder Kumar Choudhary

Designation :

Director

Address :

G-123, Saket, New Delhi – 110 017, India

Date of Birth/Age :

02.01.1945

Date of Appointment :

29.09.2012

DIN No.:

06360376

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	U74899DL1996PLC080423	DYANAMIC ENGINEERS LIMITED	Director	29-09-2012	17-08-2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Manjeet Singh
Designation :	Assistant Manager - Accounts

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2013

Name of Shareholders	No of Shares	Percentage of Holding
Sanjay Bhatia	437500	28.99
A.K. Sehgal	462500	30.65
Pankaj Sehgal	187500	12.43
Pankaj Verma	393750	26.09
Meeta Bhatia	21750	1.44
Neelam Sehgal	3000	0.20
Manu Verma	3000	0.20
Total	1509000	100.00

AS ON 05.11.2013

Name of Allottees	No of Shares
Sanjay Bhatia	340875
Anil Kumar Sehgal	391275
Pankaj Verma	328725
Meeta Bhatia	16275
Neelam Sehgal	2250
Manu Verma	19125
S.M.B. Holdings Private Limited, India	33225
Total	1131750

AS ON 18.07.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Control Panel and Parts of Control Panels.
Exports :
Products :	Control Panel
Countries :	· Nigeria · Zimbabwe
Terms :
Selling :	Cash, Credit and TT
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Reckers Control India Private Limited, New Delhi

Customers :

• Satake India Engineering Private Limited, New Delhi
• Nestle India Limited
• Cadbury (India) Limited
• Glaxo Smithkline Consumer Products
• Dabur India Limited
• Mother Dairy
• ITC Limited
• Surya Tobacoo Nepal Private Limited
• Jagajit Industries Limited
• Satnam Overseas Limited
• Sunstar Overseas Limited
• Amira Foods Limited
• Eastend Foods Limited, UK
• SSP Industries Private Limited
• Guru Nanak Automotive Limited
• Gujarat Ambuja Cement Limited

No. of Employees :

110 (Approximately)

Bankers :

· ICICI Bank Limited, Sector 63, Noida, Uttar Pradesh, India

· ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Vadodara – 390 015, Gujarat, India

· Kotak Mahindra Bank Limited

· HDFC Bank Limited

· Dhanlaxmi Bank Limited

· Standard Chartered Bank

· Deutsche Bank

Facilities :

Total Fund and Non Fund = Rs.25.000 millions (From ICICI Bank Limited)

Secured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Working Capital Facilities
ICICI Bank	14.875	15.232
Vehicle Finance
Kotak Mahindra Bank Limited	0.028	0.312
HDFC Bank Limited	0.206	0.588
ICICI Bank Limited	0.884	0.000
Total	15.993	16.132

Notes:

LONG-TERM BORROWINGS

a) The Working Capital facilities from ICICI Bank are secured by way of hypothecation of stocks of raw material, semi-finished goods, consumable stores and book debts of the company, both present and future.

b) The vehicles are financed by the banks against hypothecation of the respective vehicles.

Banking Relations :	--
Financial Institutions :	3i Infotech Trusteeship Services Limited, 36, Rani Jhansi Road, Ram Kumar Marg, (Opposite Jhandewalan Mandir), New Delhi – 110 055, India Bajaj Finance Limited Reliance Capital Limited Magma Fincorp Limited Religare Investment Limited
Auditors :
Name :	R.P. Munjal and Company Chartered Accountants
Address :	107, Delhi Chambers, 3453, Delhi Gate, New Delhi – 110 002, India
Tel. No.:	91-11-23260556, 23260557
Fax No.:	91-11-23260556
E-Mail :	munjalrp@gmail.com
PAN No.:	AAIPM3687P
Entity in which directors are interested :	DIAC Educom Private Limited* SMB Holdings Private Limited JNJA Investments Private Limited

*Note - Dyanamic Institute of Automation and Control (a partnership firm) has been converted to DIAC Educom Private Limited (a private limited company) w.e.f. 02.04.2012. Hence, in the books of accounts name of Dyanamic Institute of Automation and Control has been replaced with DIAC Educom Private Limited.

CAPITAL STRUCTURE

AFTER 18.07.2013

Authorised Capital:

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs.35.000 millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
2640750	Equity Shares	Rs.10/- each	Rs.26.408 millions

AS ON 18.07.2013

Authorised Capital:

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs.35.000 millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
1509000	Equity Shares	Rs.10/- each	Rs.15.090 millions

FINANCIAL DATA

[All figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1) Shareholders’ Funds
(a) Share Capital	15.090	15.090	15.000
(b) Reserves & Surplus	11.656	7.650	4.986
€ Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1)+(2)	26.746	22.740	19.986
(3) Non-Current Liabilities
(a) Long-term borrowings	18.004	19.482	18.955
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
€ Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	3.650	4.916	4.940
Total Non-current Liabilities (3)	21.654	24.398	23.895
(4) Current Liabilities
(a) Short term borrowings	15.409	22.033	5.950
(b) Trade payables	87.776	43.342	43.349
€ Other current liabilities	28.498	3.788	6.953
(d) Short-term provisions	4.564	2.705	3.088
Total Current Liabilities (4)	136.247	71.868	59.340
TOTAL	184.647	119.006	103.221
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	13.630	9.737	11.087
(ii) Intangible Assets	0.981	0.300	0.500
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.024	0.077	0.042
(d) Long-term Loan and Advances	5.357	6.020	9.502
(e) Other Non-current assets	1.056	1.238	0.548
(f) Trade receivables	23.764	2.214	0.000
Total Non-Current Assets	44.812	19.586	21.679
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	49.905	24.231	22.083
(c) Trade receivables	80.423	63.552	50.715
(d) Cash and cash equivalents	7.841	9.973	7.520
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	1.666	1.664	1.224
Total Current Assets	139.835	99.420	81.542
TOTAL	184.647	119.006	103.221

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from Operations	300.842	259.855	258.614
		Other Income	2.211	0.790	1.932
		TOTAL (A)	303.053	260.645	260.546
Less	EXPENSES
		Cost of materials consumed	230.206	192.517	192.385
		Employee benefit expenses	30.409	28.389	25.469
		Other Expenses	27.567	27.694	29.886
		TOTAL (B)	288.182	248.600	247.740
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		14.871	12.045	12.806
Less	FINANCIAL EXPENSES (D)		6.059	5.303	3.881
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		8.812	6.742	8.925
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.071	1.918	1.699
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		6.741	4.824	7.226
Less	TAX (H)		2.135	1.567	2.270
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		4.606	3.257	4.956
	EARNINGS IN FOREIGN CURRENCY		3.309	9.293	14.900
	Earnings/ (Loss) Per Share (Rs.)		3.05	2.16	3.30

Particulars	31.03.2014
Sales Turnover (Approximately)	385.400

The above information has been parted by Mr. Manjeet Singh (Assistant Manager - Accounts).

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.52	1.25	1.90
Net Profit Margin (PBT/Sales)	(%)	2.24	1.86	2.79
Return on Total Assets (PBT/Total Assets}	(%)	3.65	4.06	7.00
Return on Investment (ROI) (PBT/Networth)		0.25	0.21	0.36
Debt Equity Ratio (Total Debt/Networth)		1.25	1.83	1.25
Current Ratio (Current Asset/Current Liability)		1.03	1.38	1.37

FINANCIAL ANALYSIS

[All figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	15.000	15.090	15.090
Reserves & Surplus	4.986	7.650	11.656
Net worth	19.986	22.740	26.746
Long-term borrowings	18.955	19.482	18.004
Short term borrowings	5.950	22.033	15.409
Total borrowings	24.905	41.515	33.413
Debt/Equity ratio	1.246	1.826	1.249

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Revenue from Operations	258.614	259.855	300.842
		0.480	15.773

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Revenue from Operations	258.614	259.855	300.842
Profit	4.956	3.257	4.606
	1.92%	1.25%	1.53%

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	Yes
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	Yes
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

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10271257	25/06/2012 *	25,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B42222166

* Date of charge modification

Unsecured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Inter-corporate Deposits	2.011	0.000
From Directors and their relatives	0.000	3.350
SHORT TERM BORROWINGS
From Banks
Barclays Bank	0.673	2.469
Kotak Mahindra Bank	0.000	2.649
Standard Chartered Bank	4.043	2.001
Deutsche Bank	3.315	4.745
Dhanlaxmi Bank Limited	1.711	2.610
From NBFCs
Bajaj Finance Limited	0.436	1.979
Reliance Capital Limited	0.000	0.332
Magma Fincorp Limited	2.771	1.821
Religare Investment Limited	2.460	3.427
Total	17.42	25.383

Notes:

LONG-TERM BORROWINGS

Unsecured loan from Directors and their relatives was taken by way of Fixed Deposits and was under exempt deposits in the previous year.

SHORT TERM BORROWINGS

Unsecured Loans from Banks and NBFCs are in the nature of short term.

Note:

The registered office of the company has been shifted form, B-265, 1^st Floor, Okhla Industrial Area, Phase – I, New Delhi – 110 020, India to the present address w.e.f. 01.12.2008.

YEAR IN RETROSPECT

During the year, the Company achieved a gross turnover of Rs.330.893 millions including operating and other income of Rs.14.570 millions as against gross turnover of Rs.281.443 millions including operating and other income of Rs.23.819 millions for the previous financial year ended 31^st March, 2012, registering an increase of 17.57%. The profit after tax for the year ended 31^st March, 2013 at Rs.4.606 millions is higher than the previous financial year ended March, 2012 at 3.257 millions, registering an increase of 41.42%.

FUTURE PROSPECTS

The effective steps taken have yielded good results in terms of increase in sales and profits. Directors are aware of the challenges ahead and are optimistic that the momentum of growth shall continue in the company, despite not too certain industrial growth prospects in the country. The company has encouraging order book position which is enviable for the competitors. In order to keep pace with the orders, the management is hopeful of enhancing the capabilities. The Directors are confident of substantial growth both in wider customer base and the turnover in the current year.

FIXED ASSETS:

Tangible Assets

· Leasehold land

· Flat at Mahagun

· Building

· Plant and Machinery

· Electrical Installation

· Office Equipments

· Furniture and Fixtures

· Vehicles

· Computers

Intangible Assets

· Software

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.60.38
UK Pound	1	Rs.101.63
Euro	1	Rs.83.57

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	SUM
Report Prepared by :	SMN

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	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.