MIRA INFORM REPORT

Report Date :

19.12.2014

IDENTIFICATION DETAILS

Name :	NTL ELECTRONICS INDIA LIMITED (w.e.f 22.08.2007)
Formerly Known As :	NORTHEN TELELINKS PRIVATE LIMITED (w.e.f. 06.08.2007) NTL ELECTRONICS INDIA PRIVATE LIMITED
Registered Office :	305, Guru Amar Dass Bhavan, 78, Nehru Place, New Delhi – 110019
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.04.2002
Com. Reg. No.:	55 -115129
Capital Investment/ Paid-up Capital:	Rs.326.290 Millions
CIN No.: [Company Identification No.]	U32109DL2002PLC115129
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCN7151P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in Manufacturing and Selling of Products For Lighting Industry.
No. of Employees:	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine good track record. Financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment terms are reported to be regular 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 – 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 = A-
Rating Explanation	Adequate degree f safety and carry low credit risk
Date	28.10.2013

Rating Agency Name	CRISIL
Rating	Short Term Rating = A2+
Rating Explanation	Strong degree of safety and carry low credit risk
Date	28.10.2013

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 Non-Cooperative

(Tel No. : 91-120-4008888)

LOCATIONS

Registered Office :	305, Guru Amar Dass Bhavan, 78, Nehru Place, New Delhi – 110019, Delhi India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	pawan.agarwal@ntlelectronics.com
Corporate Office / Global Contact :	A-111, Sector 65, B-10, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-4008888
Fax No.:	91-120-4281822
E-Mail :	marketing@ntlelectronics.com
Manufacture Plants :	Located at Noida Roorkee Dehradun

DIRECTORS

As on 19.09.2014

Name :

Mr. Arun Gupta

Designation :

Managing Director

Address :

Villa No.2, ATS Village, Sector 93A Noida India

Date of Birth/Age :

21.12.1961

Date of Appointment :

15.07.2010

Din Number:

00265885

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74899DL1988PTC031475	KESHIKA EXPORTS PRIVATE LIMITED	Director	5/3/1991	5/3/1991	Active	NO
2	U32109DL2002PLC115129	NTL ELECTRONICS INDIA LIMITED	Managing director	15/07/2010	26/04/2002	Active	NO
3	U45400DL2008PTC180244	OPTRA PROMOTERS PRIVATE LIMITED	Director	28/09/2011	25/10/2010	Active	NO

Name :

Mr. Praveen Gupta

Designation :

Whole Time Director

Address :

C-PH2, Pears Gateway Towers, Plot No. D8-A Sector-44, Noida, India

Date of Birth/Age :

29.02.1968

Date of Appointment :

15.07.2010

Din Number:

00265322

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1988PTC031475	KESHIKA EXPORTS PRIVATE LIMITED	Director	3/3/1993	3/3/1993	-	Active	NO
2	U74899DL1991PTC045868	ANANDSONS TELELINKS PRIVATE LIMITED	Director	30/10/1993	30/10/1993	30/07/2007	Active	NO
3	U32109DL2002PLC115129	NTL ELECTRONICS INDIA LIMITED	Whole-time director	15/07/2010	26/04/2002	-	Active	NO
4	U45400DL2008PTC180244	OPTRA PROMOTERS PRIVATE LIMITED	Director	28/09/2011	25/10/2010	-	Active	NO

Name :

Mr. Ajay Relan

Designation :

Director

Address :

C-121, Defence Colony, New Delhi,- 110057, Delhi, India

Date of Birth/Age :

09.12.1953

Date of Appointment :

07.09.2010

Din Number:

00002632

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U72200DL1988PLC033218	BLUE CHIP TECHN0LOGIES LIMITED	Director	19/09/1988	19/09/1988	-	Active	NO
2	U65900MH1997FLC109170	CITICORP FINANCE (INDIA) LIMITED	Director	2/7/1997	2/7/1997	31/07/2008	Active	NO
3	L40100GJ1995PLC025447	SUZLON ENERGY LIMITED	Director	25/07/2007	19/04/2004	-	Active	NO
4	L02710CT1990PLC009826	MONNET ISPAT AND ENERGY LIMITED	Director	9/8/2010	29/07/2004	-	Active	NO
5	U28939DL1962PTC003780	MICRO ABRASIVES (INDIA) PRIVATE LIMITED	Director	30/11/2004	30/11/2004	-	Active	NO
6	L24116UP1978PLC004624	JUBILANT LIFE SCIENCES LIMITED	Director	25/01/2005	25/01/2005	14/10/2008	Active	NO
7	U24300DL2003PLC123687	INTERNATIONAL CARS AND MOTORS LIMITED	Nominee director	11/6/2005	11/6/2005	30/09/2008	Active	NO
8	U74899DL1995PLC073245	INTERNATIONAL TRACTORS LIMITED	Nominee director	14/06/2005	14/06/2005	30/09/2008	Active	NO
9	U15131HP1978PTC003844	BENDOCHY AGRO PRODUCTS PRIVATE LIMITED	Director	27/10/2005	27/10/2005	-	Active	NO
10	L99999PB1990PLC010307	TRIDENT LIMITED	Director	27/09/2006	25/01/2006	24/09/2008	Active	NO
11	L45309WB1963PLC025898	TECHNO ELECTRIC AND ENGG COMPANY LIMITED	Nominee director	25/08/2007	22/11/2006	31/07/2008	Amalgamated	NO
12	L27106WB1987PLC042756	HIMADRI CHEMICALS AND INDUSTRIES LIMTED	Nominee director	27/04/2007	27/04/2007	27/08/2008	Active	NO
13	L22121DL2002PLC117874	HT MEDIA LIMITED	Director	2/8/2010	24/05/2007	-	Active	NO
14	U63000MH2005PTC156922	HUMAN VALUE DEVELOPERS PRIVATE LIMITED	Additional director	17/08/2007	17/08/2007	21/10/2008	Active	NO
15	U99999MH1995PLC087498	SHAREKHAN LIMITED	Alternate director	26/09/2007	26/09/2007	21/10/2008	Active	NO
16	L27201HR1983PLC036106	JINDAL DRILLING AND INDUSTRIES LIMITED	Additional director	31/01/2008	31/01/2008	14/08/2008	Active	NO
17	U34300DL2005PTC139495	PADMINI VNA MECHATRONICS PRIVATE LIMITED	Additional director	17/03/2008	17/03/2008	1/8/2008	Active	NO
18	U74140DL2008PTC182274	CX ADVISORS PRIVATE LIMITED	Whole-time director	1/9/2008	21/08/2008	-	Converted to LLP and dissolved	NO
19	L21090BR1918PLC000013	HINDUSTAN MEDIA VENTURES LIMITED	Director	4/6/2010	22/02/2010	-	Active	NO
20	U32109DL2002PLC115129	NTL ELECTRONICS INDIA LIMITED	Director	7/9/2010	7/9/2010	-	Active	NO
21	U85110MH2000PLC123882	THYROCARE TECHNOLOGIES LIMITED	Nominee director	27/12/2010	27/12/2010	-	Active	NO

Name :

Mr. Yezdi P.Karai

Designation :

Director

Address :

62/2, Ballygunge Circular Road, Kolkata – 700019 – West Bengal, India

Date of Birth/Age :

29.12.1948

Date of Appointment :

21.09.2011

Din Number:

02999304

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51109WB1996PTC080822	IMPRESSIVE COMMERCE. PRIVATE LIMITED	Director	4/5/2005	4/5/2005	Active	NO
2	U74300WB1992PTC054099	RAINBOW DISPLAY PRIVATE LIMITED	Director	1/6/2010	1/6/2010	Active	NO
3	U32109DL2002PLC115129	NTL ELECTRONICS INDIA LIMITED	Director	21/09/2011	9/3/2011	Active	NO
4	U93000WB2011NPL171499	KGVK SOCIAL ENTERPRISES LIMITED	Director	29/12/2011	29/12/2011	Active	NO

Name :

Madam Kirti Madhok Sud

Designation :

Director

Address :

BB 14, Greater Kailash, New Delhi 48 India

Date of Birth/Age :

10.12.1954

Date of Appointment :

21.04.2011

Din Number:

03507997

KEY EXECUTIVES

Name :	Mr. Pawn Kumar Agarwal
Designation :	Secretary
Address :	B -75, Mansarover Park, Shahdara, Delhi,- 110032, India
Date of Birth/Age :	15.06.1974
Date of Appointment :	29.01.2008
Pan Number:	AFOPA9025J

MAJOR SHAREHOLDERS

As on 19.09.2014

Names of Shareholders	No. of Shares
Arun Gupta	13205232
Praveen Gupta	11433126
Poonam Gupta	1200
Priya Gupta	1200
A. S Gupta	1200
Sudhir Kumar Mishra	600
R.K. Sharma	600
Tushar Gupta	2044200
CX Partners Fund 1 Limited, Mauritius	4224834
AAJV Investment Trust, India	85341
LEMNIS LIGHTING B. V.	1631450
TOTAL	32628983

Equity Share Break up (Percentage of Total Equity)

As on 19.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	17.90
Directors or relatives of Directors	81.80
Other top fifty shareholders	0.30
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in Manufacturing and Selling of Products For Lighting Industry.
Products :	Compact Fluorescent Lamps Electronic Ballasts for CLF-i Electronic Luminaires Electronic Control Gear Electronic Tranformers
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Information declined by the management

Bankers :

• The Karnataka Bank Limited, F27-28, Sector 18, Noida – 201301, Uttar Pradesh, India
• ICICI Bank Limited, ICICI Tower, NBCC Place, Bisham Pitamah Marg, Pragati Vihar, New Delhi - 110003, Delhi, India
• Axis Bank Limited, B2 And B3, Sector 16, Noida - 201301, Uttar Pradesh, India
• Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India
• Bank of Baroda, SME Branch, Sector-18, Noida-201301, utter Pradesh, India

Facilities :

SECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWINGS
Loans taken for vehicles	5.980	2.925
Rupee term loans from banks	121.875	70.877
SHORT TERM BORROWINGS
Rupee Term loan from others	590.698	0.000
Rupee Term loan from banks	0.000	457.036
Total	718.553	530.838

Banking Relations :	---
Auditors :
Name :	S.R. Batliboi and Company Chattered Accountants
Address :	6^th Floor, HT House, 18-20 Kasturba Gandhi Marg, New Delhi – 110001, India
PAN No:	ABSFS4151K
Memberships :	Not Available
Collaborators :	Not Available
Associates :	NTL Lemnis India Private Limited Optra Promoters Private Limited Norell Normag

] CAPITAL STRUCTURE

As on 19.09.2014

Authorized Capital :

No. of Shares	Type	Value	Amount
35000000	Equity Shares	Rs.10/- each	Rs.350.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
32628983	Equity Shares	Rs.10/- each	Rs.326.290 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	326.290	318.595	335.836
(b) Reserves & Surplus	1531.296	1156.593	1134.289
(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)	1857.586	1475.188	1470.125
(3) Non-Current Liabilities
(a) long-term borrowings	127.855	73.802	168.962
(b) Deferred tax liabilities (Net)	53.690	59.279	48.192
(c) Other long term liabilities	6.090	3.248	0.000
(d) long-term provisions	36.845	9.171	0.000
Total Non-current Liabilities (3)	224.480	145.500	217.154
(4) Current Liabilities
(a) Short term borrowings	590.698	457.036	406.484
(b) Trade payables	914.899	655.369	475.637
(c) Other current liabilities	261.167	135.784	150.551
(d) Short-term provisions	115.438	119.448	85.673
Total Current Liabilities (4)	1882.202	1367.637	1118.345
TOTAL	3964.268	2988.325	2805.624
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	774.593	809.899	642.876
(ii) Intangible Assets	1.751	3.028	3.150
(iii) Capital work-in-progress	0.694	0.000	137.852
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	634.689	342.147	158.381
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	543.546	187.180	78.541
(e) Other Non-current assets	1.865	1.870	1.692
Total Non-Current Assets	1957.138	1344.124	1022.492
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	811.209	537.127	679.559
(c) Trade receivables	955.111	862.153	746.826
(d) Cash and cash equivalents	101.447	106.694	56.286
(e) Short-term loans and advances	118.406	119.732	299.466
(f) Other current assets	20.957	18.495	0.995
Total Current Assets	2007.130	1644.201	1783.132
TOTAL	3964.268	2988.325	2805.624

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	6226.938	5634.100	5151.753
		Other Income	99.131	79.155	37.945
		TOTAL (A)	6326.069	5713.255	5189.698
Less	EXPENSES
		Cost of materials consumed	3664.970	3365.210	3180.287
		Purchases of stock-in-trade	763.552	633.491	463.292
		Employee benefit expense	(33.891)	440.207	442.400
		Other expenses	528.835	784.088	777.985
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	910.291	49.463	(43.042)
		TOTAL (B)	5833.757	5272.459	4820.922
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		492.312	440.796	368.776
Less	FINANCIAL EXPENSES (D)		62.868	60.919	65.559
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		429.444	379.877	303.217
Less/ Add	DEPRECIATION/ AMORTISATION (F)		81.374	43.933	35.210
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		348.070	335.944	268.007
Less	TAX (H)		46.206	60.141	59.502
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		301.864	275.803	208.505
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.030	35.780	29.850
	Earnings / (Loss) Per Share (Rs.)		9.25	8.70	6.21

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	4.85	4.90	4.05
Operating Profit Margin (PBIDT/Sales)	(%)	7.91	7.82	7.16
Return on Total Assets (PBT/Total Assets}	(%)	10.46	12.70	10.68
Return on Investment (ROI) (PBT/Networth)		0.19	0.23	0.18
Debt Equity Ratio (Total Debt /Networth)		0.39	0.36	0.39
Current Ratio (Current Asset/Current Liability)		1.07	1.20	1.59

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	335.836	318.595	326.290
Reserves & Surplus	1134.289	1156.593	1531.296
Net worth	1470.125	1475.188	1857.586
long-term borrowings	168.962	73.802	127.855
Short term borrowings	406.484	457.036	590.698
Total borrowings	575.446	530.838	718.553
Debt/Equity ratio	0.391	0.360	0.387

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	5151.753	5634.100	6226.938
		9.363	10.522

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	5151.753	5634.100	6226.938
Profit	208.505	275.803	301.864
	4.05%	4.90%	4.85%

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	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	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth 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

BUSINESS

The total revenue increased to Rs 6283.580 million from Rs 5713.250 million in the previous year, at a growth rate of 10%. Our CFL ballasts and Luminaires business increased to Rs 2642.50 0 million from Rs 2347.650 million in the previous year, a growth rate of 13%. Our business in the product segment of complete CFL increased to Rs 2701.330 million from Rs 2580.080 million in the previous year, at a growth rate of 5%. Trading sales were Rs 802.470 million (previous year Rs 651.400 million).

The company continued to enjoy confidence of customers especially with respect to economies, quality and deliverables, and the same is reflected by increase in the sales of complete CFLs by Rs 1210 million in the years. Our company is the largest OEM manufacturer of CFL ballasts.

The gross profit amounted to RS 1034.960 million (16% of revenue) as against Rs 887.190 million (16% of revenue) in the previous year. Our earnings before interest and depreciation amounted to Rs 453.730 million (7% of revenue) as against Rs 440.790 million (8% to revenue) in the previous year. The net profit after tax was Rs 301.970 million (5% of revenue) as against Rs 275.500 million (5% of revenue) in the previous year.

However, there were several economic factors that affected the profitability of The Company. The company is largely dependent for electronics components from China. Unfortunately, the electronic Industry in India is minuscule and there were no worthwhile efforts in the past to make it grow. It is only recently that the government has realized that the import of Electronic items is straining the Current Account Deficit had have taken measures to promote domestic electronic industry. However, the results of these initiatives will take a long time to be effective.

Imports constitute about 54% of our raw material requirement. During the year our economy witnessed fluctuation in exchange rate of US$ ranging between Rs. 54.00 to Rs. 68.00.

JOINT VENTURE

The company had entered into a Joint Venture with Lemnis Lighting Holding B.V, Netherland to form JV entity in

the name of NTL Lemnis Holding B.V., Netherlands. The JV has wholly owned subsidiaries in South Africa and

India. The JV is also assigned the right to use “Pharox”, a leading brand of Lemnis Lighting Holding B.V.

During the year the company has acquired the equity share capital of the JV company held by Lemnis Lighting, the JV partner. The JV, NTL Lemnis Holding B.V., is now fully owned by our company. The JV company is now a 100% subsidiary of our company.

With centralized control the company can bring operational excellence in the JV company. Lemnis Lighting have

invested in the equity capital of our company and have acquired 5% of the diluted equity capital.

The subsidiary Company is in the process of establishing business partners, distributors and dealers all across India and in various geographies of Africa and Europe.

NTL Lemnis Holding B.V. has two subsidiaries i.e. NTL Lemnis India Private Limited and NTL Lemnis Africa

(Private Limited)

INDEX OF CHARGES

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10299446	04/12/2012 *	200,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA	B66929787
2	10196311	27/03/2012 *	235,000,000.00	THE KARNATAKA BANK LIMITED	F 27-28, SECTOR 18, NOIDA, UTTAR PRADESH - 201301, INDIA	B36381291
3	10130068	04/12/2012 *	810,000,000.00	AXIS BANK LIMITED	B2 & B3, SECTOR 16, NOIDA - 201301, UTTAR PRADESH, INDIA	B64725047
* Date of charge modification

FIXED ASSETS:

• Land
• Building
• Electrical Installation
• Generator
• Testing Equipment
• Material Handling Equipment
• Computers
• Furniture & Fixtures
• Office Equipment
• Car
• Cycle

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. 63.31
UK Pound	1	Rs. 96.67
Euro	1	Rs. 78.10

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	ASH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		54

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.