MIRA INFORM REPORT

Report Date :

27.02.2014

IDENTIFICATION DETAILS

Name :	TAFE ACCESS LIMITED
Registered Office :	35, Nungambakkam High Road, Chennai - 600034, Tamilnadu, India
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	28.09.1992
Com. Reg. No.:	18-23544
Capital Investment/ Paid-up Capital:	Rs.40.000 Millions
CIN No.: [Company Identification No.]	U15499TN1992PLC023544
TAN No.: [Tax Deduction & Collection Account No.]	CHET01009B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of Manufacture of Hydraulic Pumps, Hydraulic Cylinders and Dash Board Instruments.
No. of Employees:	Information denied by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Maximum Credit Limit :	USD 2543500
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a wholly owned subsidiary of Tafe. It is an established company having fine track. Tafe Access’s has two division, Dealership division which contributes around 80 percent to total revenues, has passenger car dealerships of Tata Motors Limited in Coimbatore and Skoda Auto India Private Limited in Bangalore, Karnataka and Manufacturing division, which produces automobile components. Management has seen a drastic dip in its net profitability during 2013. The company possesses an adequate financial profile marked by low gearing and sufficient liquidity. Trade relations are fair. Business is active. Payment terms are reported as regular and as per commitments. In view of company’s strong linkages with its parent, the subject can be considered 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

The worst is over for India’s economy with gross domestic product likely to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s Analytics. Concerns over the rupee and current account deficit are under control, said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up from the estimated 4.8 % for 2013/14.  Total economic growth, infrastructure bottlenecks and lack of transparency and consistency in foreign direct investment policies seem to have taken a toll on India’s attractiveness as an investment destination, says an Ernst & Young survey.  Projects with FDI component fell 16.4 % across the globe in 2012 from the previous year.  The drop in India was steeper at 21 %. State run carrier Air India is doling out free tickets to its 24000 employees, even as it expects to incur a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number of jobs generated across India in 2013, a fall of 0.4 % as compared to with a year earlier. The National Capital Region has a one-fourth share in total jobs created, according to a study by industry lobby group Assochem, Banks, real estate, automobile and telecommunications sectors are showing a rise of job creation. $ 805 mn investments by venture capital firms in India during 2013, registering a drop of about 18 % over the previous year. The Information Technology and IT-Enabled Services Industry retained its status as the favourable venture capital investors in 2013. Pakistan has temporarily banned gold imports for the second time in six months, as it tries to stem smuggling into India. India’s import duty on gold is 10 % and curbs on purchases have dried up legal imports into what used to be the world’s biggest bullion buyers. The World Gold Council puts the amount smuggled into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed bank deposits estimated to be about Rs 35000 mn be used for education and awareness among depositors.  According to the plan, deposits that have not been claimed for at least 10 years will be transferred to the scheme.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	A+ [Long Term]
Rating Explanation	Adequate degree of safety and low credit risk.
Date	24.10.2013

Rating Agency Name	CRISIL
Rating	A1+ [Short Term]
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	24.10.2013

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 31-03-2012.

INFORMATION DECLINED BY

Name :	Mr. G. Mahadevan
Designation :	Accounts Department
Contact No.:	91-44-28228782
Date :	25.02.2014

LOCATIONS

Registered Office :	35, Nungambakkam High Road, Chennai - 600034, Tamilnadu, India
Tel. No.:	91-44-28228782
Fax No.:	91-44-28260224
E-Mail :	pbs@tafe.co.in gm@tafe.com

DIRECTORS

AS ON 30.09.2013

Name :

Ms. Mallika Srinivasan

Designation :

Director

Address :

Westside House, 3, Adyar Club, Gate Road, Chennai-600028, Tamilnadu

Date of Birth/Age :

19.11.1959

Qualification:

B.Sc.,Agri and M.A.

Date of Appointment :

04.05.1994

Din No.:

00037022

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	U45201TN1983PTC010043	TRUST PROPERTIES DEVELOPMENT CO PRIVATE LIMITED	Director	27/06/1983	27/06/1983	-	Active	NO
2	U15499TN1992PLC023544	TAFE ACCESS LIMITED	Director	04/05/1994	04/05/1994	-	Active	NO
3	U29129TN1960PLC004337	TRACTORS AND FARM EQUIPMENT LIMITED.	Whole-time director	22/12/2009	27/12/1994	-	Active	NO
4	U80100AP1997NPL036631	INDIAN SCHOOL OF BUSINESS	Director	29/09/2002	29/09/2002	-	Active	NO
5	U50300TN2003PLC051918	TAFE REACH LIMITED	Director	07/11/2003	07/11/2003	-	Active	NO
6	U29211TN2005PLC055476	TAFE MOTORS AND TRACTORS LIMITED	Whole-time director	25/02/2013	24/02/2005	-	Active	NO
7	U01132TN2006PLC061095	EMERALD HAVEN ESTATES LIMITED	Director	13/09/2006	13/09/2006	27/11/2007	Active	NO
8	L15491WB1962PLC031425	TATA GLOBAL BEVERAGES LIMITED	Director	01/09/2009	22/10/2008	-	Active	NO
9	L01132TZ1922PLC000234	THE UNITED NILGIRI TEA ESTATES COMPANY LIMITED	Director	25/01/2011	25/01/2011	-	Active	NO
10	U34107TN2001PTC047925	STANADYNE AMALGAMATIONS PRIVATE LIMITED	Director	30/03/2011	30/03/2011	-	Active	NO
11	L27100MH1907PLC000260	TATA STEEL LIMITED	Director	14/08/2012	21/05/2012	-	Active	NO

Name :

Mr. MLS Rao

Designation :

Director

Address :

7/1 Waddels Road, Kilpauk, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

19.02.1932

Date of Appointment :

28.09.1992

Din No.:

00208969

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	U28930TN1962PTC004872	L.M.VAN MOPPES DIAMOND TOOLS INDIA PRIVATE LIMITED	Director	21/02/1977	21/02/1977	-	Active	NO
2	U15499TN1992PLC023544	TAFE ACCESS LIMITED	Director	28/09/1992	28/09/1992	-	Active	NO
3	U29129TN1960PLC004337	TRACTORS AND FARM EQUIPMENT LIMITED.	Director	22/02/1995	22/02/1995	-	Active	NO
4	U28939TN1914PLC000008	ADDISON & CO. LIMITED	Whole-time director	01/11/2013	02/09/1995	-	Active	NO
5	U34300TN2003PLC051919	TAL PRECISION PARTS LIMITED	Director	07/11/2003	07/11/2003	-	Active	NO
6	U28991KA1984PTC006227	KUDUMA FASTENERS PRIVATE LIMITED	Nominee director	14/07/2004	14/07/2004	-	Active	NO
7	U27209TN1976PLC007164	ALPUMP LIMITED	Director	30/06/2005	30/06/2005	-	Active	NO
8	U31400TN1955PLC080755	AMCO BATTERIES LIMITED	Director	30/09/2010	26/04/2010	21/09/2011	Active	NO

Name :

Mr. Pillapakam Bahkudumbi Sampath

Designation :

Director

Address :

31/1, Bhagirathi Ammal Street, T Nagar (New No.22), Chennai-600017, Tamilnadu

Date of Birth/Age :

11.10.1944

Qualification:

A.C.A., A.I.C.W.A.,A.C.S

Date of Appointment :

28.9.1992

Din No.:

00037043

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	U15499TN1992PLC023544	TAFE ACCESS LIMITED	Director	28/09/1992	28/09/1992	-	Active	NO
2	U01132TN1986PLC013469	SOUTHERN TREE FARMS LIMITED	Director	01/04/1993	01/04/1993	-	Active	NO
3	U85110KA1996PLC021517	AMCO SAFT INDIA LIMITED	Director	18/12/1996	18/12/1996	-	Active	NO
4	U07010KA1999PLC026125	AMCO PROPERTIES AND INVESTMENTS LIMITED	Director	15/06/2001	15/06/2001	-	Amalgamated	NO
5	U34300TN2003PLC051919	TAL PRECISION PARTS LIMITED	Director	07/11/2003	07/11/2003	-	Active	NO
6	U28991KA1984PTC006227	KUDUMA FASTENERS PRIVATE LIMITED	Nominee director	14/07/2004	14/07/2004	-	Active	NO
7	U27209TN1976PLC007164	ALPUMP LIMITED	Director	30/06/2005	30/06/2005	-	Active	NO
8	U29129TN1960PLC004337	TRACTORS AND FARM EQUIPMENT LIMITED.	Additional director	28/08/2013	21/12/2005	-	Active	NO
9	U31400TN1955PLC080755	AMCO BATTERIES LIMITED	Director	06/12/2006	06/12/2006	-	Active	NO
10	U65100TN2007PTC064069	EQUITAS HOLDINGS PRIVATE LIMITED	Director	07/06/2010	20/07/2009	08/11/2012	Active	NO
11	U65993TN1994PTC028002	EQUITAS MICRO FINANCE PRIVATE LIMITED	Director	11/06/2012	17/02/2012	-	Active	NO

Name :

Mr. R.C Banka

Designation :

Director

Address :

New No. 6, Old No. 14, 1^st Avenu, Harrington Road, Chennai – 600031, Tamilnadu, India

Date of Birth/Age :

15.10.1934

Date of Appointment :

25.01.2011

Din No.:

00036997

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	Company/ LLP Status	Defaulting status
1	U29129TN1960PLC004337	TRACTORS AND FARM EQUIPMENT LIMITED	Whole-time director	01/04/2009	06/08/1999	Active	NO
2	U29211TN2005PLC055476	TAFE MOTORS AND TRACTORS LIMITED	Director	26/08/2013	24/02/2005	Active	NO
3	U15499TN1992PLC023544	TAFE ACCESS LIMITED	Director	25/01/2011	25/01/2011	Active	NO

Name :

Mr. Hari Gangadhara Panicker

Designation :

Additional Director

Address :

2-1 5-1, Arihant Majestic Tower, 10/11, Koyembedu, Chennai-600107, Tamilnadu, India

Date of Birth/Age :

18.05.1959

Date of Appointment :

27.08.2013

Din No.:

03567365

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	Company/ LLP Status	Defaulting status
1	U15499TN1992PLC023544	TAFE ACCESS LIMITED	Additional director	27/08/2013	12/08/2011	Active	NO

KEY EXECUTIVES

Name :	Mr. G. Mahadevan
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares	% of Holding
Tractors and Farm Equipment Limited, India	3913310	97.83
Mallika Srinivasan	43320	1.08
Shriram Murali	43320	1.08
MLS Rao	15	0.00
P B Sampath	15	0.00
K V Jagannathan	10	0.00
V Rammoorhti	10	0.00
TOTAL	4000000	100.00

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	97.83
Directors or relatives of directors	2.17
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of Manufacture of Hydraulic Pumps, Hydraulic Cylinders and Dash Board Instruments.

GENERAL INFORMATION

No. of Employees :

Information denied by the management.

Bankers :

HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Short Term Borrowings
Working capital loans from banks	270.916	158.255
TOTAL	270.916	158.255

Banking Relations :	--
Financial Institution :	ICICI Banking Corporation Limited, 110, Uthamar Gandhi Salai, Chennai-600034, Tamilnadu, India
Auditors :
Name :	Price Waterhouse Chartered Accountant
Address :	8^th Floor, Prestige Palladium, Bayan No. 129-140, Greams Road, Nungambakkam, Chennai-600006, Tamilnadu, India
PAN No:	AAEFP3641G
Holding Company:	Tractors and Farm Equipment Limited, India [U29129TN1960PLC004337] Simpson and Company Limited [U65991TN1925PLC002345]
Ultimate Holding Company :	Amalgamations Private Limited [U35999TN1938PTC000019]
Fellow Subsidiaries :	Addison and Company Limited [U28939TN1914PLC000008] Amco Batteries Limited [U31400TN1955PLC080755] Associated Printers (Madras) Private Limited [U22110TN1950PTC000036] George Oakes Limited [U50300TN1956PLC000758] Sri Rama Vilas Service Limited [U29214TN1938PLC002346] Stanes Motors South India Limited [U50101TZ1930PLC000171] T Stanes and Company Limited [L02421TZ1910PLC000221] Tafe Motors And Tractors Limited [U29211TN2005PLC055476] Tafe Reach Limited [U50300TN2003PLC051918] India Pistons Limited [U35999TN1949PLC000951]

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- each	Rs.40.000 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	40.000	40.000	40.000
(b) Reserves & Surplus	595.883	552.455	497.799
(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)	635.883	592.455	537.799
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	3.025	0.000	0.600
(c) Other long term liabilities	2.853	20.000	20.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	5.878	20.000	20.600
(4) Current Liabilities
(a) Short term borrowings	270.916	158.255	176.316
(b) Trade payables	132.134	334.347	216.945
(c) Other current liabilities	123.798	149.440	129.486
(d) Short-term provisions	15.081	29.869	31.900
Total Current Liabilities (4)	541.929	671.911	554.647
TOTAL	1183.690	1284.366	1113.046
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	213.120	224.397	222.266
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.225	3.611	0.225
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.499	1.499	1.151
(c) Deferred tax assets (net)	0.000	1.412	0.000
(d) Long-term Loan and Advances	30.453	43.459	17.969
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	245.297	274.378	241.611
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	400.898	526.094	371.241
(c) Trade receivables	194.561	252.816	258.477
(d) Cash and cash equivalents	230.719	154.570	189.354
(e) Short-term loans and advances	75.803	57.092	41.030
(f) Other current assets	36.412	19.416	11.333
Total Current Assets	938.393	1009.988	871.435
TOTAL	1183.690	1284.366	1113.046

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	3881.749	4084.703	3576.700
		Other Income	49.519	56.081	31.062
		TOTAL (A)	3931.268	4140.784	3607.762
Less	EXPENSES
		Cost of materials consumed	498.062	541.840	426.344
		Purchases of stock-in-trade	2764.307	3254.032	2793.515
		Employee benefit expense	141.546	122.280	100.037
		Other expenses	247.935	203.432	208.531
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	123.332	(148.477)	(73.138)
		TOTAL (B)	3775.182	3973.107	3455.289
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		156.086	167.677	152.473
Less	FINANCIAL EXPENSES (D)		32.508	26.775	16.605
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		123.578	140.902	135.868
Less/ Add	DEPRECIATION/ AMORTISATION (F)		38.203	26.113	24.668
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		85.375	114.789	111.200
Less	TAX (H)		30.248	36.888	36.600
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		55.127	77.901	74.600
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		145.975	141.319	139.964
Less	APPROPRIATIONS
		Transfer to General Reserve	15.000	50.000	50.000
		Dividend	10.000	20.000	20.000
		Tax on Dividend	1.700	3.245	3.245
	BALANCE CARRIED TO THE B/S		174.402	145.975	141.319
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	7.001	2.405	5.490
	IMPORTS
		Raw Materials	34.635	24.046	28.029
	Earnings / (Loss) Per Share (Rs.)		13.78	19.48	18.65

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.40	1.88	2.07
Net Profit Margin (PBT/Sales)	(%)	2.20	2.81	3.11
Return on Total Assets (PBT/Total Assets}	(%)	7.22	8.98	10.00
Return on Investment (ROI) (PBT/Networth)		0.13	0.19	0.21
Debt Equity Ratio (Total Debt/Networth)		0.43	0.27	0.33
Current Ratio (Current Asset/Current Liability)		1.73	1.50	1.57

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	40.000	40.000	40.000
Reserves & Surplus	497.799	552.455	595.883
Net worth	537.799	592.455	635.883
long-term borrowings	0.000	0.000	0.000
Short term borrowings	176.316	158.255	270.916
Total borrowings	176.316	158.255	270.916
Debt/Equity ratio	0.328	0.267	0.426

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)
Sales	3576.700	4084.703	3881.749
		14.203	-4.969

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Sales	3576.700	4084.703	3881.749
Profit	74.600	77.901	55.127
	2.09%	1.91%	1.42%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	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	Yes
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

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10159726	06/08/2012 *	340,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (West), MUMBAI - 400013, Maharashtra, INDIA	B57755480

* Date of charge modification

CHENNAI COURT

CASE STATUS INFORMATION SYSTEM

CASE STATUS:	PENDING
STATUS OF:	WRIT APPEAL
CASE NO.:	1247
YEAR:	2013
PETITIONER:	THE GOVERNMENT OF TAMILNADU
RESPONDENT:	TAFE ACCESS LIMITED
PET’S ADVOCATE:	GOVERNMENT PLEADER FOR 1^ST APPE
RES’S ADVOCATE:	--
CATEGORY:	NO CATEGORY MENTIONED
LAST LISTED ON:	NO DATE MENTIONED
CASE UPDATED ON:	OCTOBER 4, 2013

NO CONNECTED APPLICATION(S)

NO CONNECTED MATTERS(S)

FIXED ASSETS:

• Building lease hold land
• Plant and Machinery
• Computers
• Furniture and Fixtures
• 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.61.94
UK Pound	1	Rs.103.31
Euro	1	Rs.85.11

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		53

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.