1. Summary Information

		Country	India
Company Name	GOOJAR MAL GANPAT RAI PRIVATE LIMITED	Principal Name 1	Mr. Chandra Shekhar Gupta
Status	Satisfactory	Principal Name 2	Mr. Ambrish Kumar
		Registration #	55-053431
Street Address	GMGR House, J-3, Block B-1, Mohan Co-Operative Industrial Estate Mathura Road, New Delhi – 110044, India
Established Date	07.05.1993	SIC Code	--
Telephone#	91-11-26959535 / 26959455 / 26959787	Business Style 1	Manufacturer
Fax #	91-11-26959741	Business Style 2	--
Homepage	Not Available	Product Name 1	Sanitary Wares
# of employees	Not Available	Product Name 2	Ceramics Wares
Paid up capital	Rs.2,851,000/-	Product Name 3	Glass Wares
Shareholders	Directors or relatives of Directors – 100.00%	Banking	Union Bank of India
Public Limited Corp.	No	Business Period	21 (Years)
IPO	No	International Ins.	--
Public Enterprise	No	Rating	Ba (48)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	31,116,000	Current Liabilities	8,742,000
Inventories	18,999,000	Long-term Liabilities	33,504,000
Fixed Assets	7,239,000	Other Liabilities	280,000
Deferred Assets	442,000	Total Liabilities	42,526,000
Invest& other Assets	0,000	Retained Earnings	12,419,000
		Net Worth	15,270,000
Total Assets	57,796,000	Total Liab. & Equity	57,796,000
Total Assets (Previous Year)	47,336,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	163,582,000	Net Profit	3,328,000
Sales(Previous yr)	121,204,000	Net Profit(Prev.yr)	2,111,000

MIRA INFORM REPORT

Report Date :

23.04.2014

IDENTIFICATION DETAILS

Name :	GOOJAR MAL GANPAT RAI PRIVATE LIMITED
Registered Office :	GMGR House, J-3, Block B-1, Mohan Co-Operative Industrial Estate Mathura Road, New Delhi – 110044
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	07.05.1993
Com. Reg. No.:	55-053431
Capital Investment / Paid-up Capital :	Rs.2.851 Millions
CIN No.: [Company Identification No.]	U90009DL1993PTC053431
TAN No.: [Tax Deduction & Collection Account No.]	DELG06732F
PAN No.: [Permanent Account No.]	AAACG0227G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Sanitary Wares, Fittings, Ceramics Wares, Glass Wares, Cement Products, Fire Clay, Tiles, Table Ware, Hotel Ware, Decorative Ware, Toiletries, Bathroom Accessories and Fittings and Kitchen.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 61000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – March 31, 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 DENIED BY

Name :	Mr. Ashish Gupta
Designation :	Director
Contact No.:	91-9810026273
Date :	21.04.2014

LOCATIONS

Registered Office :	GMGR House, J-3, Block B-1, Mohan Co-Operative Industrial Estate Mathura Road, New Delhi – 110044, India
Tel. No.:	91-11-26959535 / 26959455 / 26959787
Fax No.:	91-11-26959741
E-Mail :	gmgr@vsnl.net accounts@gmgrindia.in
Factory:	A-57, Wazirpur Industrial Area, New Delhi – 110052, India
Tel. No.:	91-11-27377801 / 5
Fax No.:	91-11-27377806
Branches:	Located At: New Delhi Mumbai Noida Pune Punjab Bangalore Hyderabad Chennai

DIRECTORS

As on 28.09.2013

Name :

Mr. Chandra Shekhar Gupta

Designation :

Director

Address :

W-69,Greater Kailash,Part- II,New Delhi - 110048,Delhi,India

Date of Birth/Age :

22.08.1946

Date of Appointment :

16.04.2003

DIN No.:

00093463

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	U74899DL1970PTC005414	GEM SANITARY APPLIANCES PRIVATE LIMITED	Director	23/09/1970	23/09/1970	-	Active	NO
2	U74899DL1983PTC015562	CAPRI BATHAID PRIVATE LIMITED	Director	18/04/1983	18/04/1983	01/06/2012	Active	NO
3	U90009DL1993PTC053431	GOOJAR MAL GANPAT RAI PRIVATE LIMITED	Director	16/04/2003	16/04/2003	-	Active	NO
4	U74899DL1983PTC016944	GMGR BATH FITTINGS PRIVATE LIMITED	Director	26/03/2007	26/03/2007	-	Active	NO
5	L65993DL1982PLC013895	GOOJAR MAL GANPAT RAI ENTERPRISES LIMITED	Director	30/09/2010	10/07/2010	-	Active	NO
6	U74899DL1974PTC007521	SANITARY AND ALLIED INDUSTRIES PRIVATE LIMITED	Director	28/09/2010	10/07/2010	-	Active	NO
7	U74899DL1993PTC054319	GMGR SANI TREND PRIVATE LIMITED	Additional director	01/06/2012	01/06/2012	-	Active	NO
8	U93000DL2012NPL238679	Indian Plumbing Skills Council	Director	18/12/2013	30/05/2013	-	Active	NO
9	U93000DL2014PTC267197	Global Institute of Plumbing and Design Excellence Private Limited	Director	31/03/2014	31/03/2014	-	Active	NO

Name :

Mr. Ambrish Kumar

Designation :

Director

Address :

W-69,Grater Kailash,Part - II,New Delhi - 110048,Delhi,India

Date of Birth/Age :

09.12.1950

Date of Appointment :

07.05.1993

DIN No.:

00093492

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	U74899DL1974PTC007521	SANITARY AND ALLIED INDUSTRIES PRIVATE LIMITED	Director	11/11/1974	11/11/1974	-	Active	NO
2	U90009DL1993PTC053431	GOOJAR MAL GANPAT RAI PRIVATE LIMITED	Director	07/05/1993	07/05/1993	-	Active	NO
3	U74899DL1994PTC057152	MAHAMAYA BUSINESS PRIVATE LIMITED	Director	31/01/1994	31/01/1994	-	Active	NO
4	U74899DL1983PTC016944	GMGR BATH FITTINGS PRIVATE LIMITED	Director	24/07/1997	24/07/1997	-	Active	NO
5	U74899DL1973PTC006823	GANGA EXPORT AND MARKETING PRIVATE LIMITED	Director	27/07/2000	27/07/2000	-	Active	NO
6	L65993DL1982PLC013895	GOOJAR MAL GANPAT RAI ENTERPRISES LIMITED	Director	08/07/2005	08/07/2005	-	Active	NO
7	U74899DL1983PTC015562	CAPRI BATHAID PRIVATE LIMITED	Director	28/09/2010	10/07/2010	01/06/2012	Active	NO

Name :

Mr. Ashish Gupta

Designation :

Director

Address :

W-69,Greater Kailash,Part- II,New Delhi - 110048,Delhi,India

Date of Birth/Age :

31.01.1972

Date of Appointment :

07.05.1993

DIN No.:

00093530

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	U74899DL1973PTC006823	GANGA EXPORT AND MARKETING PRIVATE LIMITED	Director	29/03/1991	29/03/1991	-	Active	NO
2	U90009DL1993PTC053431	GOOJAR MAL GANPAT RAI PRIVATE LIMITED	Director	07/05/1993	07/05/1993	-	Active	NO
3	U74899DL1993PTC054319	GMGR SANI TREND PRIVATE LIMITED	Director	06/07/1993	06/07/1993	-	Active	NO
4	U28900MH2006PTC160691	A 1 MACHINE TOOLS PRIVATE LIMITED	Director	31/03/2006	31/03/2006	10/08/2011	Active	NO
5	U74899DL1994PTC057152	MAHAMAYA BUSINESS PRIVATE LIMITED	Director	25/03/2008	25/03/2008	-	Active	NO
6	U93000DL2012NPL238679	Indian Plumbing Skills Council	Director	18/12/2013	22/12/2012	-	Active	NO
7	U74899DL1983PTC016944	GMGR BATH FITTINGS PRIVATE LIMITED	Additional director	31/12/2012	31/12/2012	-	Active	NO

Name :

Mrs. Nandini Khandelwal

Designation :

Director

Address :

W-69, Greater Kailash, Part II, New Delhi - 110048, India

Date of Birth/Age :

24.09.1990

Date of Appointment :

26.03.2012

DIN No.:

05250813

MAJOR SHAREHOLDERS

As on 28.09.2013

Names of Shareholders	No. of Shares
Ashish Gupta	45563
Ambrish Kumar	192440
Avnish Khandelwal	500
Radhika Khandelwal	1100
Chandra Shekhar Gupta	10000
Prem Khandelwal	2200
Kamla Gupta	2500
Usha Khandelwal	30500
Nandini Khandelwal	250
Arun Kumar Rampuria	2
Total	285055

Equity Share Break up (Percentage of Total Equity)

As on 28.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Sanitary Wares, Fittings, Ceramics Wares, Glass Wares, Cement Products, Fire Clay, Tiles, Table Ware, Hotel Ware, Decorative Ware, Toiletries, Bathroom Accessories and Fittings and Kitchen.

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

Union Bank of India, 3581, Chawri Bazar, Delhi - 110006, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Motor Car Loan (Secured against hypothecation of motor car and personal guarantee of director of the company)	1.957	4.584
Short Term Borrowings
From Union Bank of India
Cash Credit Account (Secured against hypothecation of goods and book debts, equitable mortgage of a plot beginning to a director of the company personal guarantee of the director of the company)	23.941	18.262
Motor Car Loan (Secured against hypothecation of motor car and personal guarantee of director of the company)	1.356	0.000
	27.254	22.846

Banking Relations :	--
Auditors :
Name :	Salarpuria and Partners Chartered Accountant
Address :	1008, Chiranjiv Tower, 43, Nehru Place, New Delhi-110019, India
PAN.:	AAMFS2483H

CAPITAL STRUCTURE

As on 28.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs.3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
285055	Equity Shares	Rs.10/- each	Rs.2.851 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2.851	2.851
(b) Reserves & Surplus	12.419	9.091
(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)	15.270	11.942
(3) Non-Current Liabilities
(a) long-term borrowings	8.207	11.434
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	8.207	11.434
(4) Current Liabilities
(a) Short term borrowings	25.297	18.262
(b) Trade payables	5.699	2.379
(c) Other current liabilities	3.043	3.319
(d) Short-term provisions	0.280	0.000
Total Current Liabilities (4)	34.319	23.960
TOTAL	57.796	47.336
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.239	8.893
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.442	0.217
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	7.681	9.110
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	18.999	16.489
(c) Trade receivables	20.818	13.961
(d) Cash and cash equivalents	1.385	1.319
(e) Short-term loans and advances	8.913	6.455
(f) Other current assets	0.000	0.002
Total Current Assets	50.115	38.226
TOTAL	57.796	47.336

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		2.851
2] Share Application Money		0.000
3] Reserves & Surplus		6.980
4] (Accumulated Losses)		0.000
NETWORTH		9.831
LOAN FUNDS
1] Secured Loans		16.689
2] Unsecured Loans		8.079
TOTAL BORROWING		24.768
DEFERRED TAX LIABILITIES		0.000
TOTAL		34.599
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.890
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.217
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	16.773
	Sundry Debtors	14.290
	Cash & Bank Balances	0.858
	Other Current Assets	0.000
	Loans & Advances	9.337
Total Current Assets		41.258
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.351
	Other Current Liabilities	4.616
	Provisions	2.799
Total Current Liabilities		10.766
Net Current Assets		30.492
MISCELLANEOUS EXPENSES		0.000
TOTAL		34.599

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		163.582	121.204	120.952
		Other Income		0.075	0.054	0.119
		TOTAL (A)		163.657	121.258	121.071
Less	EXPENSES
		Cost of Materials Consumed		131.280	90.935	95.164
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(2.510)	0.284	0.000
		Employee Benefits Expenses		15.353	13.419	0.000
		Freight and Forwarding Charges		0.000	0.000	0.774
		Director Remunerations		0.000	0.000	4.410
		Salary, Wages and Allowances, etc		0.000	0.000	6.622
		Other Expenses		8.670	8.313	10.941
		TOTAL (B)		152.793	112.951	117.911
						(Including Financial Expenses)
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			10.864	8.307
Less	FINANCIAL EXPENSES (D)			3.687	3.841
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			7.177	4.466	3.160
Less	DEPRECIATION/ AMORTISATION (F)			2.244	1.296	0.982
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			4.933	3.170	2.178
Less	TAX (H)			1.605	1.059	0.723
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			3.328	2.111	1.455
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			8.261	6.150	4.695
	BALANCE CARRIED TO THE B/S			11.589	8.261	6.150
	EARNINGS IN FOREIGN CURRENCY
			Commission Earnings	0.197	0.176	0.256
	TOTAL EARNINGS			0.197	0.176	0.256
	IMPORTS
			C.I.F. Value of Import	109.017	73.177	44.673
	TOTAL IMPORTS			109.017	73.177	44.673
	Earnings Per Share (Rs.)			11.67	7.47	5.10

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.03	1.74	1.20
Net Profit Margin (PBT/Sales)	(%)	3.02	2.62	1.80
Return on Total Assets (PBT/Total Assets}	(%)	8.60	6.73	4.82
Return on Investment (ROI) (PBT/Networth)		0.32	0.27	0.22
Debt Equity Ratio (Total Debt /Networth)		2.19	2.49	2.52
Current Ratio (Current Asset/Current Liability)		1.46	1.60	3.83

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	2.851	2.851	2.851
Reserves & Surplus	6.980	9.091	12.419
Net worth	9.831	11.942	15.270
long-term borrowings	16.689	22.846	27.254
Short term borrowings	8.079	6.850	6.250
Total borrowings	24.768	29.696	33.504
Debt/Equity ratio	2.519	2.487	2.194

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	120.952	121.204	163.582
		0.208	34.964

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	120.952	121.204	163.582
Profit	1.455	2.111	3.328
	1.20%	1.74%	2.03%

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

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
From Shareholders	6.250	6.850
Total	6.250	6.850

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10111879	04/07/2008	1,300,000.00	Union Bank of India	3581, Chawri Bazar, Delhi, Delhi - 110006, India	A41622028
2	80016299	30/08/2013 *	30,000,000.00	Union Bank of India	3581, Chawri Bazar, Delhi, Delhi - 110006, India	B86492907

*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.60.71
UK Pound	1	Rs.102.04
Euro	1	Rs.83.77

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	RAS
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.