MIRA INFORM REPORT

Report Date :

15.12.2014

IDENTIFICATION DETAILS

Name :	BANSAL HIGH CARBONS PRIVATE LIMITED
Registered Office :	F-3, Main Road, Shastri Nagar, Delhi – 110 052
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.06.1997
Com. Reg. No.:	55-088181
Capital Investment / Paid-up Capital :	Rs.23.065 millions
CIN No.: [Company Identification No.]	U27101DL1997PTC088181
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELB03952E
PAN No.: [Permanent Account No.]	AAACB4958R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Alloy and Non-Alloy Steel Wire.
No. of Employees :	Information declined by the Management

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for business dealings at usual trade terms and condition. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating: BBB/Stable)
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	August 20, 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 DECLINED

Management non-cooperative

(Tel. No.: 91-120-2657092)

LOCATIONS

Registered Office :	F-3, Main Road, Shastri Nagar, Delhi – 110 052, India
Tel. No. :	91-11-23651891,92,93
Mobile No. :	91-9871697640 (Mr. Umesh Khandelwal)
Fax No. :	91-11-23651890
E-Mail :	info@bansalwire.com umesh@bansalwire.com
Factory :	120-126, Anand Industrial Estate, Mohan Nagar, Ghaziabad – 201 007, Uttar Pradesh, India
Tel. No.:	91-120-2657092, 2657202, 03
Branch Office :	E-12, SMA Industrial Area, G.T. Karnal Road, Delhi – 110 033, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Arun Kumar Gupta

Designation :

Director

Address :

F-7, Ashok Vihar, Phase – I, Delhi, NCT of Delhi – 110 052, India

Date of Birth/Age :

16.04.1958

Date of Appointment :

26.06.1997

DIN No. :

00255850

PAN No.:

AETPG0551K

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	U31300DL1985PLC022737	BANSAL WIRE INDUSTRIES LIMITED	Director	11-12-1985	11-12-1985	-	Active	NO
2	U74899DL1989PTC037148	MANISHI TOWERS PRIVATE LIMITED	Director	29-08-1989	29-08-1989	-	Active	NO
3	U74899DL1977PTC008500	VIKAS ELECTRONICS (INTERNATIONAL) PRIVATE LIMITED	Director	10-08-1990	10-08-1990	28-10-2013	Active	NO
4	U74899DL1994PTC057334	BANSAL STRIPS PRIVATE LIMITED	Director	10-02-1994	10-02-1994	-	Active	NO
5	U74899DL1988PTC030216	BALAJI WIRES PRIVATE LIMITED	Director	25-03-1997	25-03-1997	-	Active	NO
6	U27101DL1997PTC088181	BANSAL HIGH CARBONS PRIVATE LIMITED	Director	26-06-1997	26-06-1997	-	Active	NO
7	U33111HR1998PTC034082	SHIVAM DIAGNOSTICS PRIVATE LIMITED	Director	02-12-1998	02-12-1998	-	Active	NO
8	U40102DL1999PTC100040	INDRAPRASTHA VIDYUT UDYOG PRIVATE LIMITED	Director	12-06-1999	12-06-1999	07-05-2008	Active	NO
9	U51420DL1999PTC100475	S S PRANAV STEELS PRIVATE LIMITED	Additional director	04-05-2012	01-07-1999	30-05-2013	Active	NO
10	U74899DL1992PTC050941	SHIVAM WIRES PRIVATE LIMITED	Director	14-08-2000	14-08-2000	-	Active	NO
11	U74899DL1995PLC068689	SFIL STOCK BROKING LIMITED	Director	02-06-2005	02-06-2005	-	Active	NO
12	U52322DL1996PTC082040	FAIR VALUE TRADERS PRIVATE LIMITED	Additional director	02-05-2012	04-06-2005	14-05-2014	Active	NO
13	U27106DL1999PTC101645	S S A P STEELS PRIVATE LIMITED	Director	06-05-2011	06-05-2011	-	Active	NO
14	U27100HR2012PTC045734	EXCELLA METALS PRIVATE LIMITED	Director	26-04-2012	26-04-2012	-	Active	NO
15	U27100HR2012PTC045753	MILLENIA METALS PRIVATE LIMITED	Director	27-04-2012	27-04-2012	-	Active	NO
16	U27106DL2013PTC255946	PARAMHANS WIRES PRIVATE LIMITED	Director	24-02-2014	24-02-2014	-	Active	NO

Name :

Ms. Anita Gupta

Designation :

Director

Address :

F-7, Ashok Vihar, Phase – I, Delhi, NCT of Delhi – 110 052, India

Date of Birth/Age :

30.04.1960

Date of Appointment :

26.06.1997

DIN No. :

00255938

PAN No.:

AEXPG0847C

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	U31300DL1985PLC022737	BANSAL WIRE INDUSTRIES LIMITED	Director	01-02-1994	01-02-1994	-	Active	NO
2	U74899DL1994PTC057334	BANSAL STRIPS PRIVATE LIMITED	Director	10-02-1994	10-02-1994	-	Active	NO
3	U27101DL1997PTC088181	BANSAL HIGH CARBONS PRIVATE LIMITED	Director	26-06-1997	26-06-1997	-	Active	NO
4	U74899DL1989PTC037148	MANISHI TOWERS PRIVATE LIMITED	Director	15-11-2002	15-11-2002	-	Active	NO
5	U74899DL1988PTC030216	BALAJI WIRES PRIVATE LIMITED	Director	05-06-2003	05-06-2003	-	Active	NO
6	U74899DL1995PLC068689	SFIL STOCK BROKING LIMITED	Director	02-06-2005	02-06-2005	-	Active	NO
7	U74899DL1989PTC036588	MANGLAM WIRES PRIVATE LIMITED	Director	29-09-2005	29-09-2005	-	Active	NO
8	U51420DL1999PTC100475	S S PRANAV STEELS PRIVATE LIMITED	Director	11-01-2010	11-01-2010	26-03-2011	Active	NO
9	U27106DL1999PTC101645	S S A P STEELS PRIVATE LIMITED	Director	06-05-2011	06-05-2011	-	Active	NO
10	U27100HR2012PTC045753	MILLENIA METALS PRIVATE LIMITED	Director	27-04-2012	27-04-2012	-	Active	NO
11	U74899DL1977PTC008500	VIKAS ELECTRONICS (INTERNATIONAL) PRIVATE LIMITED	Additional director	03-05-2012	03-05-2012	23-10-2013	Active	NO
12	U74899DL1992PTC050941	SHIVAM WIRES PRIVATE LIMITED	Additional director	07-05-2012	07-05-2012	-	Active	NO
13	U27106DL2013PTC255946	PARAMHANS WIRES PRIVATE LIMITED	Director	24-02-2014	24-02-2014	-	Active	NO
14	U27100HR2012PTC045734	EXCELLA METALS PRIVATE LIMITED	Director	23-08-2014	23-08-2014	-	Active	NO

Name :

Mr. Umesh Ram Niwas Gupta

Designation :

Director

Address :

D-44, Ashoka Road, Adarsh Nagar Extension, New Delhi – 110 033, India

Date of Birth/Age :

02.06.1966

Date of Appointment :

06.01.2014

DIN No. :

06579602

Name :

Ms. Ruchi Gupta

Designation :

Director

Address :

F-7, Ashok Vihar, Phase – I, Delhi, NCT of Delhi – 110 052, India

Date of Birth/Age :

08.11.1984

Date of Appointment :

30.09.2005

DIN No. :

00256459

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	U74899DL1989PTC036588	MANGLAM WIRES PRIVATE LIMITED	Director	29-09-2005	29-09-2005	-	Active	NO
2	U27101DL1997PTC088181	BANSAL HIGH CARBONS PRIVATE LIMITED	Director	30-09-2005	30-09-2005	-	Active	NO
3	U74899DL1995PLC068689	SFIL STOCK BROKING LIMITED	Additional director	26-07-2012	26-07-2012	-	Active	NO
4	U74899DL1988PTC030216	BALAJI WIRES PRIVATE LIMITED	Director	09-01-2013	09-01-2013	-	Active	NO
5	U31300DL1985PLC022737	BANSAL WIRE INDUSTRIES LIMITED	Director	07-01-2014	07-01-2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Arun Gupta Shyam Sunder Gupta	228200
Arun Gupta [Karta] C/o Arun Kumar Gupta (HUF)	134700
Anita Gupta Arun Gupta	106000
Subhash Agarwal Prop. C/O Agarwal	100000
Arun Kumar Gupta [Karta] C/O Shyam Sunder Gupta [HUF]	353000
Fair Value Traders Private Limited, India	180000
SFIL Stock Broking Limited, India	66700
Shyam Sunder Arun Kumar Prop. Arun Kumar Gupta [HUF]	459400
Satya Credits Private Limited, India	40000
Shivlok Appartment Private Limited, India	170000
Master Pranav Bansal C/O Shri Arun Kumar Gupta	306000
Nitin Kumar Garg	130000
Seema Garg	32500
Total	2306500

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	19.80
Directors or relatives of directors	68.82
Other top fifty shareholders	11.38
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Alloy and Non-Alloy Steel Wire.

Products :

Item Code No. (ITC Code)	Product Description
7217.90	High Carbon Wires
7223.00	Stainless Steel Wire
7204.90	High Carbon Scrap

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the Management

Bankers :

Banker Name	Canara Bank
Branch Address	Sadar Bazar, Delhi – 110 006, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

The Jammu and Kashmir Bank Limited, Branch - Sadar Bazar, Delhi – 110 006, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	58.605	72.982
Loans taken for vehicles	0.718	0.489
SHORT TERM BORROWINGS
Loans repayable on demand from banks	446.940	303.225
Total	506.263	376.696

Auditors :
Name :	S.P. Agarwal and Company Chartered Accountants
Address :	5, Todarmal Lane, 1^st Floor, Bengali Market, New Delhi – 110 001, India
PAN No.:	AAAFS8927P
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Balaji Wires Private Limited, India (CIN No.: U74899DL1988PTC030216) Bansal Strips Private Limited, India (CIN No.: U74899DL1994PTC057334) Bansal Wire Industries Limited, India (CIN No.: U31300DL1985PLC022737) Manglam Wires Private Limited, India (CIN No.: U74899DL1989PTC036588) S S A P Steels Private Limited, India (CIN No.: U27106DL1999PTC101645) Vikas Electronics (International) Private Limited, India (CIN No.: U74899DL1977PTC008500)

CAPITAL STRUCTURE

AFTER 30.09.2013

Authorised Capital : Rs.40.000 millions

Issued, Subscribed & Paid-up Capital : Rs.24.340 millions

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- each	Rs.40.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2306500	Equity Shares	Rs.10/- each	Rs.23.065 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	23.065	23.065	21.440
(b) Reserves & Surplus	132.842	112.384	71.771
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	62.655	49.105	26.500
Total Shareholders’ Funds (1) + (2)	218.562	184.554	119.711
(3) Non-Current Liabilities
(a) Long-term borrowings	120.993	147.381	87.432
(b) Deferred tax liabilities (Net)	9.709	8.142	3.334
(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)	130.702	155.523	90.766
(4) Current Liabilities
(a) Short term borrowings	446.940	303.225	226.668
(b) Trade payables	0.002	15.451	0.000
(c) Other current liabilities	51.773	43.257	34.007
(d) Short-term provisions	11.700	9.700	5.700
Total Current Liabilities (4)	510.415	371.633	266.375
TOTAL	859.679	711.710	476.852
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	168.120	168.842	144.801
(ii) Intangible Assets	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	7.716	5.641	3.820
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	175.836	174.483	148.621
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	424.657	304.069	147.634
(c) Trade receivables	206.071	186.962	155.882
(d) Cash and cash equivalents	8.913	5.956	3.211
(e) Short-term loans and advances	44.202	40.240	21.504
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	683.843	537.227	328.231
TOTAL	859.679	711.710	476.852

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Gross revenue	2951.168	2532.472	1760.621
		Other Income
		TOTAL	2951.168	2532.472	1760.621
Less	EXPENSES
		Office Expenses	2909.729	2501.855	1741.709
		Administrative Expenses
		Advertising Expenses
		TOTAL	2909.729	2501.855	1741.709
	PROFIT/ (LOSS) BEFORE EXCEPTIONAL ITEMS DEPRECIATION AND TAXATION		41.439	30.617	18.912
Less/ Add	DEPRECIATION/ AMORTISATION		13.946	12.065	8.550
	PROFIT BEFORE EXCEPTIONAL ITEMS TAXATION		27.493	18.552	10.362
Less	EXCEPTIONAL ITEMS		0.000	0.006	0.145
	PROFIT/ (LOSS) BEFORE TAX		27.493	18.546	10.217
Less	TAX		7.035	8.808	(1.514)
	PROFIT/ (LOSS) AFTER TAX		20.458	9.738	11.731
	Earnings / (Loss) Per Share (Rs.)		8.87	4.22	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	3.20	2.61	2.14
Return on Investment (ROI) (PBT/Networth)		0.13	0.10	0.09
Debt Equity Ratio (Total Debt/Networth)		2.60	2.44	2.62
Current Ratio (Current Asset/Current Liability)		1.34	1.45	1.23

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	21.440	23.065	23.065
Reserves & Surplus	71.771	112.384	132.842
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	26.500	49.105	62.655
Net worth	119.711	184.554	218.562
Long Term borrowings	87.432	147.381	120.993
Short Term borrowings	226.668	303.225	446.940
Total borrowings	314.100	450.606	567.933
Debt/Equity ratio	2.624	2.442	2.598

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)
Gross revenue including other income	1,760.621	2,532.472	2,951.168
		43.840	16.533

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR)	(INR)	(INR)
Gross revenue including other income	1,760.621	2,532.472	2,951.168
Profit	11.731	9.738	20.458
	0.67%	0.38%	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	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
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	54.950	67.358
Rupee term loans from others	6.720	6.552
Total	61.670	73.910

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10458062	21/03/2014 *	185,587,000.00	CANARA BANK	SADAR BAZAR, DELHI, DELHI - 110006, INDIA	C04104089
2	10428299	29/04/2013	13,700,000.00	CANARA BANK	SADAR BAZAR, DELHI, DELHI - 110006, INDIA	B75946889
3	10389383	26/12/2013 *	470,000,000.00	THE JAMMU AND KASHMIR BANK LIMITED	BRANCH - SADAR BAZAR, DELHI, DELHI - 110006, INDIA	B93221877
4	10340013	02/03/2012	50,000,000.00	THE JAMMU AND KASHMIR BANK LIMITED	SADAR BAZAR, DELHI, DELHI - 110006, INDIA	B34047498
5	10327067	11/11/2011	381,865,000.00	THE JAMMU AND KASHMIR BANK LIMITED	2121-22, BAHADURGARH ROAD, SADAR BAZAR, DELHI, DELHI - 110006, INDIA	B29273414
6	10288868	11/02/2014 *	160,000,000.00	CANARA BANK	SADAR BAZAR, DELHI, DELHI - 110006, INDIA	B98388341
7	10248073	31/03/2014 *	1,145,000,000.00	CANARA BANK	SADAR BAZAR, DELHI, DELHI - 110006, INDIA	C04155529
8	10226926	18/06/2010	140,000,000.00	CANARA BANK	SADAR BAZAR, DELHI, DELHI - 110006, INDIA	A88700893
9	10220421	12/05/2010	975,000.00	CANARA BANK	SADAR BAZAR, DELHI, DELHI - 110006, INDIA	A85825131

* Date of charge modification

FIXED ASSETS:

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipments

· Computer

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report : No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.44
UK Pound	1	Rs.98.15
Euro	1	Rs.77.38

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	DIV
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	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
-- PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.