MIRA INFORM REPORT

Report Date :

04.08.2013

IDENTIFICATION DETAILS

Name :	NEOTERIC INFOMATIQUE LIMITED [w.e.f. 25.02.2008]
Formerly Known As :	NEOTERIC INFOMATIQUE PRIVATE LIMITED [w.e.f. May 2002] NEOTERIC INFOMATIQUE LIMITED [w.e.f. 01.07.2000] NEOTERIC INFOMATIQUE PRIVATE LIMITED
Registered Office :	Unit No. U0201, Floor – 2, Plot – 249, A Wing, Matulya Centre, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	21.03.1997
Com. Reg. No.:	11-106787
Capital Investment / Paid-up Capital :	Rs. 114.540 Millions
CIN No.: [Company Identification No.]	U30007MH1997PLC106787
TAN No.: [Tax Deduction & Collection Account No.]	MUMN05580B
PAN No.: [Permanent Account No.]	AAACN3140K
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader, Dealer and Distributor of Computer Peripherals, Scanners, Casting, Monitors, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 2000000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has reported a loss from its operations during FYE March 2013. However, trade relations seem to be fair. Business is active. Payment terms are reported as slow. The company can be considered for business dealings with great 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities BB+
Rating Explanation	Moderate risk of default regarding timely servicing of financial obligations
Date	31 March 2014

Rating Agency Name	CARE
Rating	Short term bank facilities A4+
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	31 March 2014

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 31-03-2014.

INFORMATION DENIED

Management no co-operative (91-22-40859616)

LOCATIONS

Registered Office :	Unit No. U0201, Floor – 2, Plot – 249, A Wing, Matulya Centre, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	Not Available
Fax No.:	Not Available
E-Mail :	finance@neoteric.co.in
Website :	Not Available

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Harshad D Shah

Designation :

Whole–time director

Address :

1402, Rajul Apartment, 9, Harkness Road, Mumbai – 400006, Maharashtra, India

Qualification :

Intermediate

Date of Appointment :

01.01.2012

DIN No. :

00151651

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	U30007MH1997PLC106787	NEOTERIC INFOMATIQUE LIMITED	Whole-time director	01/01/2012	01/01/2002	-	Active	NO
2	U65910MH2007PTC167482	STHAPANA HOLDINGS PRIVATE LIMITED	Director	02/02/2007	02/02/2007	12/12/2007	Active	NO
3	U45400MH2012PTC233577	JJ LAND DEVELOPERS PRIVATE LIMITED	Additional director	07/02/2013	07/02/2013	-	Active	NO

Name :

Mr. Paras H shah

Designation :

Managing director

Address :

1402, Rajul Apartment, 9, Harkness Road, Mumbai – 400006, Maharashtra, India

Qualification :

Computer Engineer from Case Western Reserve University, USA

Date of Appointment :

01.12.2010

DIN No. :

00151509

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	U30007MH1997PLC106787	NEOTERIC INFOMATIQUE LIMITED	Managing director	01/12/2010	01/10/2002	-	Active	NO
2	U65910MH2007PTC167482	STHAPANA HOLDINGS PRIVATE LIMITED	Director	02/02/2007	02/02/2007	12/12/2007	Active	NO
3	U72300MH2012PTC231222	F1 INFO SOLUTIONS & SERVICES PRIVATE LIMITED	Director	17/05/2012	17/05/2012	02/09/2013	Active	NO
4	U93030MH2013NPL239265	TECHNOLOGY DISTRIBUTION ASSOCIATION OF INDIA	Director	03/01/2013	03/01/2013	-	Active	NO
5	U72300MH2013PTC247644	ONELEAP SOLUTIONS PRIVATE LIMITED	Director	29/08/2013	29/08/2013	-	Active	NO

Name :

Mr. Satya Prasan Rajguru

Designation :

Director

Address :

6/11, Sarvapriya Vihar, New Delhi – 110016, India

Qualification :

Business and Law Graduate

Date of Appointment :

21.10.2005

DIN No. :

00865254

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	U72300DL2005PTC140952	V5 GLOBAL SERVICES PRIVATE LIMITED	Director	20/09/2005	20/09/2005	-	Active	NO
2	U30007MH1997PLC106787	NEOTERIC INFOMATIQUE LIMITED	Director	21/10/2005	21/10/2005	-	Active	NO
3	U51109DL1998PTC093129	CHANGEMASTERS MANAGEMENT CONSULTING PRIVATE LIMITED	Director	01/01/2008	01/01/2008	-	Active	NO
4	U74140KA2008FTC046856	BLUE & GRAY MANAGEMENT CONSULTANT (INDIA) PRIVATE LIMITED	Director	19/06/2008	19/06/2008	06/08/2012	Active	NO

Name :

Mr. Srinivasan Ramswamy

Designation :

Director

Address :

B-703/704, Suresh Smruti, Prathmesh Complex, Veera Desai Road, Andheri (W), Mumbai, Maharashtra, India

Qualification :

MBA from XLRI and Doctoral Scholar of BITS, Pilani, Rajasthan

Date of Appointment :

01.03.2006

DIN No. :

02019206

Name :

Mr. Hemant Nerurkar

Designation :

Director

Address :

5, Swapan Lok Darshan, Military Road, Marol, Mumbai – 400059, Maharashtra, india.

Qualification :

Master of Science in Electrical Engineering from Newark College of Engineering, New Jersey

Date of Appointment :

29.11.2008

DIN No. :

00627401

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	U72900MH2002PTC137199	MINDCRAFT SOFTWARE PRIVATE LIMITED	Managing director	13/09/2002	13/09/2002	-	Active	NO
2	U72000MH2002PTC137405	PINETREE SOFTWARE AND TECHNOLOGIES PRIVATE LIMITED	Managing director	01/10/2002	01/10/2002	-	Active	NO
3	U30007MH1997PLC106787	NEOTERIC INFOMATIQUE LIMITED	Director	29/11/2008	02/04/2008	-	Active	NO
4	U80903MH2008PLC185015	E4 Development & Coaching Limited	Director	18/02/2009	18/02/2009	-	Active	NO

Name :

Mr. Jayant Rastogi

Designation :

Director

Address :

Flat No. 1403, 14^th Floor, Greenwood, Hiranandani Estate, Pokhran GB Road, Thane (W) - 400607

Qualification :

B. E. (Mech.) from Government Engineering College, Jabalpur (Madhya Pradesh)

Date of Appointment :

01.03.2006

DIN No. :

02129608

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

SHAREHOLDERS FILED ATTACHED

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies Corporate	8.03
Directors or relatives of Directors	91.68
Other top fifty shareholders	0.29
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader, Dealer and Distributor of Computer Peripherals, Scanners, Casting, Monitors, etc.

Products :

ITC Code	Products or Services
84713010	Laptop
84713010	Computer Desktop
84713010	Other Accessories
84717090	Hard disk
85284900	Monitor
84713010	Accessories
84716029	Printer
84733020	Motherboard
90072090	Projectors
85238020	Softwares
84717090	UPS
84713010	DVD Writer
84716029	Tonners
84433100	RAM
84713010	Ipad
84716060	Mouse
84716040	Keyboard
85183000	Speakers
84717090	DVDs
84717090	CDs

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Union Bank of India, Opera House Branch, Tejura Chambers, 365/367, V.P. Road, Opera House, Mumbai – 400004, Maharashtra, India

· Standard Chartered Bank, 90, M. G. Road, Fort, Mumbai – 400001, Maharashtra. India

· Kotak Bank

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	30.06.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Term Loans From Bank	121.780	0.000
SHORT TERM BORROWINGS
Working capital loans from banks	1198.670	899.040
Total	1320.450	899.040

Banking Relations :	--
Auditors :
Name :	Chaturvedi Sohan and company Chartered Accountants
Address :	320, Tulsiani Chambers 212, Free Press Journal Marg, Nariman Point, Mumbai – 400021, India
PAN No.:	AABFC7158A

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
18000000	Equity Shares	Rs.10/- each	Rs.180.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11454075	Equity Shares	Rs.10/- each	Rs.114.540 Millions

After 30.09.2013

Authorised Capital : 180.000

Issued, Subscribed & Paid-up Capital : 125.904

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013 (9 Months)	30.06.2012 (12 Months)	30.06.2011 (12 Months)
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	114.540	114.540	114.540
(b) Reserves & Surplus	385.760	402.830	345.370
(c) 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)	500.300	517.370	459.910
(3) Non-Current Liabilities
(a) long-term borrowings	121.780	0.000	0.700
(b) Deferred tax liabilities (Net)	7.740	4.410	4.370
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	129.520	4.410	5.070
(4) Current Liabilities
(a) Short term borrowings	1946.390	1824.470	1284.300
(b) Trade payables	779.760	873.160	787.990
(c) Other current liabilities	205.670	154.530	86.930
(d) Short-term provisions	10.930	15.760	25.050
Total Current Liabilities (4)	2942.750	2867.920	2184.270
TOTAL	3572.570	3389.700	2649.250
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	249.110	38.710	27.600
(ii) Intangible Assets	8.260	0.000	1.310
(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	16.720	16.720	11.720
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	23.010	20.320	21.240
(e) Other Non-current assets	0.000	4.870	4.870
Total Non-Current Assets	297.100	80.620	66.740
(2) Current assets
(a) Current investments
(b) Inventories	1446.080	1500.780	1079.900
(c) Trade receivables	1525.790	1478.080	1324.170
(d) Cash and cash equivalents	93.570	99.720	106.410
(e) Short-term loans and advances	210.030	115.960	45.890
(f) Other current assets	0.000	114.540	26.140
Total Current Assets	3275.470	3309.080	2582.510
TOTAL	3572.570	3389.700	2649.250

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013 (9 Months)	30.06.2012 (12 Months)	30.06.2011 (12 Months)
	SALES
	Income	11985.930	14513.170	11159.700
	Other Income	17.170	22.650	35.870
	TOTAL	12003.100	14535.820	11195.570
Less	EXPENSES
	Cost of Materials Consumed	11382.260	14109.900	10802.750
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	54.700	(420.880)	(200.890)
	Employees benefits expense	218.920	271.150	200.340
	Other expenses	144.450	277.140	147.730
	TOTAL	11800.330	14237.310	10949.930
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	202.770	298.510	245.640
Less	FINANCIAL EXPENSES	205.830	211.680	133.450
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(3.060)	86.830	112.190
Less/ Add	DEPRECIATION/ AMORTISATION (F)	9.930	7.710	7.180
	PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX	(12.990)	79.120	105.010
Add	EXCEPTIONAL ITEMS	0.000	6.010	0.000
	PROFIT/ (LOSS) BEFORE TAX	(12.990)	85.130	105.010
Less	TAX	4.080	27.670	35.020
	PROFIT/ (LOSS) AFTER TAX	(17.070)	57.460	69.990
	Earnings / (Loss) Per Share (Rs.)	(1.49)	5.02	6.69

KEY RATIOS

PARTICULARS		31.03.2013	30.06.2012	30.06.2011
PAT / Total Income	(%)	(0.14)	0.40	0.63
Net Profit Margin (PBT/Sales)	(%)	(0.11)	0.59	0.94
Return on Total Assets (PBT/Total Assets}	(%)	(0.37)	2.52	3.98
Return on Investment (ROI) (PBT/Networth)		(0.03)	0.16	0.23
Debt Equity Ratio (Total Debt /Networth)		4.13	3.53	2.79
Current Ratio (Current Asset/Current Liability)		1.11	1.15	1.18

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	30.06.2011	30.06.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	114.540	114.540	114.540
Reserves & Surplus	345.370	402.830	385.760
Net worth	459.910	517.370	500.300
long-term borrowings	0.700	0.000	121.780
Short term borrowings	1284.300	1824.470	1946.390
Total borrowings	1285.000	1824.470	2068.170
Debt/Equity ratio	2.794	3.526	4.134

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	30.06.2012	30.06.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	11159.700	14513.170	11985.930
		30.050	(17.413)

NET PROFIT MARGIN

Net Profit Margin	30.06.2011	30.06.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	11159.700	14513.170	11985.930
Profit	69.990	57.460	(17.070)
	0.63%	0.40%	(0.14%)

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	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	No
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	Yes

Note:

The Registered office of the company has been shifted 249, A Wing, Matulya Centre, Matulya Mill Comp, Senapati Bapat Marg, Delisle Road, Lower Parel, Mumbai – 400013, Maharashtra India to the present address w.e.f. 21.08.2013

OPERATIONAL PERFORMANCE

For the period ended 31^st March, 2013, the company has achieved Sales turnover of Rs. 12003.10 Millions for nine months period as against Rs. 14353.82 Millions for the twelve months period ended 30^th June, 2012. The company has made loss of Rs. 17.07 Millions for the year ended 31^st March, 2013.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10382845	11/02/2013 *	50,000,000.00	UNION BANK OFINDIA	OPERA HOUSE BRANCH, TEJURA CHAMBERS, 365/367, V.P. ROAD, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA	B70447776
2	10353373	02/05/2014 *	200,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI,  MAHARASHTRA - 400001, INDIA	C05596846
3	10192808	01/06/2011 *	110,000,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	B15261464
4	10098043	30/04/2013 *	435,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	B75010629
5	10084589	19/12/2007	50,000,000.00	UNION BANK OF INDIA	OPERA HOUSE BRANCH, TEJURA CHAMBERS, 365-367, V.P. ROAD, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA	A31031529
6	10026595	02/05/2011 *	310,000,000.00	STANDARD CHARTERED BANK	90, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400001,  INDIA	B12624367
7	90144770	31/05/2008 *	100,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	A40760118
8	90144225	22/08/2013 *	450,000,000.00	UNION BANK OF INDIA	OPERA HOUSE BRANCH, TEJURA CHAMBERS, 365/367, V.P. ROAD, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA	B85006088
9	90146139	22/08/2007 *	75,000,000.00	CITI BANK N. A.	BANDRA - KURLA COMPLEX, BANDRA EAST, BANDRA EAST,  MAHARASHTRA - 400051, INDIA	A21892310
10	90142056	22/08/2013 *	700,000,000.00	UNION BANK OF INDIA	OPERA HOUSE BRANCH, TEJURA CHAMBERS, 365/367, V.P. ROAD, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA	B85001105

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	30.06.2012 (Rs. in Millions)
SHORT TERM BORROWINGS
Other loans and advances	747.720	925.430
Total	747.720	925.430

FIXED ASSETS

· Office building

· plant and equipment

· Furniture and fixtures

· Motor vehicles

· Computer Equipments

· Vehicles

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. 60.85
UK Pound	1	Rs. 102.68
Euro	1	Rs. 81.46

INFORMATION DETAILS

Information Gathered by :	HET
Analysis Done by :	SUB
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.