MIRA INFORM REPORT

Report Date :

24.12.2014

IDENTIFICATION DETAILS

Name :	SREE LALITHA PARAMESWARI SPINNING MILLS PRIVATE LIMITED
Registered Office :	Tirumala Complex,1st Floor, 4/2, Brodipet, Guntur – 522002, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.04.2005
Com. Reg. No.:	01-045993
Capital Investment / Paid-up Capital :	Rs. 122.500 Millions
CIN No.: [Company Identification No.]	U17110AP2005PTC045993
TIN No.:	28390225189
PAN No.: [Permanent Account No.]	AAICS9427J
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Cotton Yarns.
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 709000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The management has failed to file its financial record with government department for the year 2014. As per available financial record of 2013, the rating takes into consideration extensive experience of SLPL’s promoters in the cotton spinning industry supported by above-average financial risk profile and comfortable capital structure of the company. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealing at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – 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 = BB
Rating Explanation	Moderate degree of safety and high credit risk.
Date	14.10.2014

Rating Agency Name	CRISIL
Rating	Short term rating = A4+
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	14.10.2014

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Anjaneyulu
Designation :	Account Manager
Contact No.:	91-9948891699
Date :	22.12.2014

LOCATIONS

Registered Office :	Tirumala Complex,1st Floor, 4/2, Brodipet, Guntur – 522002, Andhra Pradesh, India
Tel. No.:	91-863-2234599 / 6535259
Fax No.:	91-863-2234589
E-Mail :	dsc_director@rediffmail.com md@slpspinningmills.com ed@slpspinningmills.com gm@slpspinningmills.com accounts@slpspinningmills.com marketing@slpspinningmills.com stores@slpspinningmills.com
Website :	http://www.slpspinningmills.com
Location:	Owned
Factory :	Chebrolu Donka (towards Tenali) Narakoduru, Chebrolu, Guntur – 522212, Andhra Pradesh, India
Tel. No.:	91-863-2534402
Fax No.:	91-863-2534401

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Surya Prakasa Rao Tadikamalla

Designation :

Director

Address :

D. No. 3-14-24, Old Pattabhipuram, Guntur – 522006, Andhra Pradesh, India

Date of Birth/Age :

12.06.1952

Date of Appointment :

26.04.2005

DIN No.:

00052860

PAN No.:

ACAPD0921D

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	U63022AP1992PTC014663	SIVASAI COLD STORAGE PRIVATE LIMITED	Managing director	11/08/1992	11/08/1992	-	Active	NO
2	U24230AP1994PTC019088	MITOTECH PHARMACEUTICALS PRIVATE LIMITED	Director	05/01/1995	05/01/1995	-	Active	NO
3	U74999AP1996PTC024486	SAI SIVAM COLD STORAGE PRIVATE LIMITED	Managing director	01/07/1996	01/07/1996	-	Active	NO
4	U17110AP2005PTC045993	SREE LALITHA PARAMESWARI SPINNING MILLS PRIVATE LIMITED	Director	26/04/2005	26/04/2005	-	Active	NO
5	U63022AP2005PTC046100	SARWANI COLD STORAGE PRIVATE LIMITED	Whole-time director	04/05/2005	04/05/2005	-	Active	NO
6	U63020AP2010PTC071486	UMAMAHESWARA COLD STORAGE PRIVATE LIMITED	Director	02/12/2010	02/12/2010	-	Active	NO
7	U63022AP2012PTC081522	SRAWANI COLD STORAGE PRIVATE LIMITED	Director	21/06/2012	18/06/2012	-	Active	NO
8	U40106AP2013PTC085805	SARVESWARA SOLAR PRIVATE LIMITED	Director	20/02/2013	15/02/2013	-	Active	NO
9	AAB-9288	SREE VASAVI AGRO FARMS LLP	Designated Partner	13/12/2013	13/12/2013	-	Active	NO

Name :

Mr. Siva Sankara Rao Karumuri

Designation :

Director

Address :

Plot No. 11, Kanchan Towers, Pattabhipuram, Guntur – 522006, Andhra Pradesh, India

Date of Birth/Age :

15.01.1960

Date of Appointment :

26.04.2005

DIN No.:

00052864

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	U17110AP2005PTC045993	SREE LALITHA PARAMESWARI SPINNING MILLS PRIVATE LIMITED	Director	26/04/2005	26/04/2005	-	Active	NO
2	U63022AP1997PTC027498	POPULAR COLD STORAGE PRIVATE LIMITED	Director	03/10/2009	03/10/2009	-	Active	NO

Name :

Mr. Venkata Apparao Kothuri

Designation :

Vice Chairman

Address :

D. No. 3-25-6, Plot No. B1-52 Lane, Ravindra Nagar, Guntur – 522006, Andhra Pradesh, India

Date of Birth/Age :

12.10.1946

Date of Appointment :

26.04.2005

DIN No.:

00052870

PAN No.:

ADSPK7466K

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	U63022AP1994PTC017915	KAMDHENU COLD STORAGE PRIVATE LIMITED	Director	13/07/1994	13/07/1994	11/02/2013	Active	NO
2	U63022AP1997PTC027498	POPULAR COLD STORAGE PRIVATE LIMITED	Director	01/08/1999	01/08/1999	-	Active	NO
3	U01135AP2004PTC044850	VIJAYADURGA AGRO FARMS PRIVATE LIMITED	Director	13/12/2004	13/12/2004	-	Active	NO
4	U17110AP2005PTC045993	SREE LALITHA PARAMESWARI SPINNING MILLS PRIVATE LIMITED	Director	26/04/2005	26/04/2005	-	Active	NO
5	U63020AP2010PTC070266	VASAVIRATNA COLD STORAGE PRIVATE LIMITED	Managing director	03/09/2010	01/09/2010	-	Active	NO
6	AAB-9288	SREE VASAVI AGRO FARMS LLP	Designated Partner	13/12/2013	13/12/2013	-	Active	NO

Name :

Mr. Surya Prakasa Rao Desu

Designation :

Managing director

Address :

D. No. 5-62-9a, 6/19, Brodipet, Guntur – 522002, Andhra Pradesh, India

Date of Birth/Age :

05.08.1957

Date of Appointment :

26.04.2005

DIN No.:

00052877

Name :

Mr. Ambareesh Tripuramallu

Designation :

Director

Address :

D. No. 7-1-46, Station Road, Sattenapalli – 522403, Andhra Pradesh, India

Date of Birth/Age :

01.07.1966

Date of Appointment :

26.04.2005

DIN No.:

00052889

PAN No.:

ADHPT0281G

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	U17110AP2005PTC045993	SREE LALITHA PARAMESWARI SPINNING MILLS PRIVATE LIMITED	Director	26/04/2005	26/04/2005	-	Active	NO
2	AAB-9288	SREE VASAVI AGRO FARMS LLP	Designated Partner	13/12/2013	13/12/2013	-	Active	NO

Name :

Mr. Venkata Durga Malleswara Rao Tripuramallu

Designation :

Director

Address :

D. No. 7-1-46, Station Road, Sattenpalli – 522403, Andhra Pradesh, India

Date of Birth/Age :

17.06.1965

Date of Appointment :

26.04.2005

DIN No.:

00052903

PAN No.:

ABCPT4957G

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	U17110AP2005PTC045993	SREE LALITHA PARAMESWARI SPINNING MILLS PRIVATE LIMITED	Director	26/04/2005	26/04/2005	-	Active	NO
2	AAB-9288	SREE VASAVI AGRO FARMS LLP	Designated Partner	13/12/2013	13/12/2013	-	Active	NO

Name :

Mr. Venkata Seshagiri Rao Tripuramallu

Designation :

Chairman

Address :

D. No. 7-1-46, Station Road, Sattenapalli – 522403, Andhra Pradesh, India

Date of Birth/Age :

15.06.1942

Date of Appointment :

26.04.2005

DIN No.:

00052909

Name :

Mr. Venkataramana Sikhakolanu

Designation :

Whole-time director

Address :

D. No. 7-1-18, Station Road, Sattenpalli – 522403, Andhra Pradesh, India

Date of Birth/Age :

18.03.1979

Date of Appointment :

26.04.2005

DIN No.:

01681021

Name :

Mr. Venkata Bhaskara Rao Kunala

Designation :

Director

Address :

D. No. 3-11-9, Vasavi Nilayam, Old Pattabhipurma, Guntur – 522006, Andhra Pradesh, India

Date of Birth/Age :

26.08.1966

Date of Appointment :

26.04.2005

DIN No.:

00052927

PAN No.:

ADSPK7396J

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	U01135AP2004PTC044850	VIJAYADURGA AGRO FARMS PRIVATE LIMITED	Director	13/12/2004	13/12/2004	-	Active	NO
2	U17110AP2005PTC045993	SREE LALITHA PARAMESWARI SPINNING MILLS PRIVATE LIMITED	Director	26/04/2005	26/04/2005	-	Active	NO
3	U63020AP2010PTC070266	VASAVIRATNA COLD STORAGE PRIVATE LIMITED	Director	01/09/2010	01/09/2010	-	Active	NO
4	AAB-9288	SREE VASAVI AGRO FARMS LLP	Designated Partner	13/12/2013	13/12/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Anjaneyulu
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

SHAREHOLDING DETAILS FILE ATTACHED

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	33.29
Other top fifty shareholders	66.71
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Cotton Yarns.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Cotton Yarns
Countries :	Pakistan China Bangladesh
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Spindles	No. of Kgs	24960	24960	2111195

Note: The Installed Capacity are as per certification given by the management

GENERAL INFORMATION

Suppliers :

• GTN Industries Limited

Customers :

Wholesalers and Retailers

• Wilspun Private Limited

No. of Employees :

300 (Approximately)

Bankers :

Bank Name	State Bank of India
Branch	Specialised Commercial Branch
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

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Rupee term loans from banks	230.989	267.689
Short-term borrowings
Loans repayable on demand from banks	155.296	167.335
Total	386.285	167.335

Banking Relations :	--
Auditors :
Name :	Brahmayya and Company Chartered Accountants
Address :	10-3-21, Sambasivapet, Guntur, Andhra Pradesh, India
PAN N Income-tax PAN of auditor or auditor's firm :	AADFB8032G
Related Party :	Sree Tirumala Cot Ton Corporation Sree Tirumala Cotton Traders
Memberships :	----
Collaborators :	----
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs. 100/- each	Rs. 70.000 Millions
525000	Preference Shares	Rs. 100/- each	Rs. 52.500 Millions
	Total		Rs.122.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs. 100/- each	Rs. 70.000 Millions
525000	Preference Shares	Rs. 100/- each	Rs. 52.500 Millions
	Total		Rs.122.500 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	122.500	122.500	122.500
(b) Reserves & Surplus	125.391	88.787	77.642
(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)	247.891	211.287	200.142
(3) Non-Current Liabilities
(a) long-term borrowings	259.126	292.867	211.571
(b) Deferred tax liabilities (Net)	60.338	39.338	38.144
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.190	0.150	0.000
Total Non-current Liabilities (3)	319.654	332.355	249.715
(4) Current Liabilities
(a) Short term borrowings	155.296	167.334	142.424
(b) Trade payables	1.181	38.448	44.661
(c) Other current liabilities	54.615	35.065	44.373
(d) Short-term provisions	19.918	20.918	14.737
Total Current Liabilities (4)	231.010	261.765	246.195
TOTAL	798.555	821.407	696.052
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	479.720	495.282	361.396
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	6.120	1.957	11.311
(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	11.459	7.415	4.517
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	497.299	504.654	377.224
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	79.623	190.476	199.970
(c) Trade receivables	83.643	37.814	37.631
(d) Cash and cash equivalents	37.087	16.228	23.536
(e) Short-term loans and advances	72.789	54.159	44.262
(f) Other current assets	28.114	18.076	13.429
Total Current Assets	301.256	316.753	318.828
TOTAL	798.555	821.407	696.052

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	792.701	592.985	497.345
		Other Income	20.938	0.000	13.020
		TOTAL	813.639	592.985	510.365
Less	EXPENSES
		Raw material consumed
		Payment and benefit to employees
		Manufacturing, Selling, Administrative and Other Expenses
		Taxes and Licenses
		Decrease of stocks
		TOTAL	749.816	589.265	442.874
	PROFIT BEFORE TAX		63.823	3.720	67.491
Less	TAX		21.118	(13.526)	27.446
	PROFIT AFTER TAX		42.705	17.246	40.045
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		88.786	77.641	38.226
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	6.101	0.630
	BALANCE CARRIED TO THE B/S		NA	88.786	77.641
	IMPORTS
		Capital Goods	NA	NA	11.912
	Earnings Per Share (Rs.)		34.86	14.08	32.69

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT / Sales)	(%)	5.39	2.91	8.05
Operating Profit Margin (PBIDT/Sales)	(%)	8.05	0.63	13.57
Return on Total Assets (PBT/Total Assets}	(%)	8.05	0.45	9.86
Return on Investment (ROI) (PBT/Networth)		0.26	0.02	0.34
Debt Equity Ratio (Total Debt /Networth)		1.67	2.18	1.77
Current Ratio (Current Asset/Current Liability)		1.30	1.21	1.30

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	122.500	122.500	122.500
Reserves & Surplus	77.642	88.787	125.391
Net worth	200.142	211.287	247.891
long-term borrowings	211.571	292.867	259.126
Short term borrowings	142.424	167.334	155.296
Total borrowings	353.995	460.201	414.422
Debt/Equity ratio	1.769	2.178	1.672

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	497.345	592.985	792.701
		19.230	33.680

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	497.345	592.985	792.701
Profit	40.045	17.246	42.705
	8.05%	2.91%	5.39%

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

FINANCIAL RESULTS:

During the year the Company has noted tremendous growth with comparison of last financial year of the Company. The Company has made the turnover of Rs. 792.701 Millions against the last year of Rs 592.985 Millions and recorded a profit before taxation of Rs. 63.823 Millions.

The net profit after tax is Rs. 42.705 Millions. The Directors of the company are of the view that the performance or the company would further improve in the next financial year.

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Loans and advances from directors	28.137	25.177
Total	28.137	25.177

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	80002621	22/07/2013 *	569,800,000.00	STATE BANK OF INDIA	SPECIALISED COMMERCIAL BRANCH, KANNAVARITHOTA,, GUNTUR, ANDHRA PRADESH - 522004, INDIA	B82266594
2	90262880	27/10/2005	131,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, KANNAVARITTHA, GUNTUR, ANDHRA PRADESH, INDIA	-

* Date of charge modification

FIXED ASSETS

Tangible assets

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Plantations

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.63.45
UK Pound	1	Rs.98.88
Euro	1	Rs.77.62

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis done by :	KAR
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

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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.