MIRA INFORM REPORT

Report Date :

30.06.2014

IDENTIFICATION DETAILS

Name :	SHREE OSHIYA STRIPS IMPEX PRIVATE LIMITED
Registered Office :	103, 1^st Floor, Arihant Building, Ahmedabad Street, Carnac Bunder, Masjid Bunder (East), Mumbai – 400009, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	20.04.2010
Com. Reg. No.:	11-202214
Capital Investment / Paid-up Capital :	Rs. 18.400 Millions
CIN No.: [Company Identification No.]	U27205MH2010PTC202214
PAN No.: [Permanent Account No.]	AAOCS4216P
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Iron and Steel
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Rating reflects moderate financial risk profile due to low profitability and increase in external borrowing over previous year. However, trade relation are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing with some caution.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

N E W S

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term fund based facilities: “BB-” (Suspended)
Rating Explanation	Inadequate credit quality and high credit risk.
Date	April, 2014

Rating Agency Name	ICRA
Rating	Short term non-fund based facilities: “A4” (Suspended)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	April, 2014

Reason for Suspension: Absence of requisite information from firm.

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 PARTED BY

Name :	Mr. Rajesh Pauva
Designation :	Manager
Contact No.:	91-22-22832222
Date :	28.06.2014

LOCATIONS

Registered Office :	103, 1^st Floor, Arihant Building, Ahmedabad Street, Carnac Bunder, Masjid Bunder (East), Mumbai – 400009, Maharashtra, India
Tel. No. :	91-22-22832222
Fax No. :	Not Available
E-Mail :	shreeoshiyastrips@gmail.com
Location :	Owned
Locality :	Commercial
Shoppe Address:	Shop No.S/19, Ground Floor, Shivam Apartment, Sanjan, Taluka Umargaon, District Valsad, Gujarat, India
Tel. No.:	91-260-2575070

DIRECTORS

As on 30.09.2013

Name :

Mr. Vijendra Vijayraj Ranka

Designation :

Additional director

Address :

2639, Main Road, Gorakhpur, Jabalpur – 482002, Madhya Pradesh, India

Date of Birth/Age :

29.09.1979

Date of Appointment :

22.03.2012

DIN No. :

00164359

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	U27106TG2003PTC040783	ROYALOAK STEELS PRIVATE LIMITED	Director	10/02/2004	10/02/2004	05/03/2012	Active	NO
2	U51909MH2001PTC133370	NETRA MERCANTILE PRIVATE LIMITED	Director	25/02/2013	18/03/2005	-	Active	NO
3	U27100MH1997PTC104947	TRIBOS STEEL PRIVATE LIMITED	Director	01/05/2005	01/05/2005	-	Amalgamated	NO
4	U70102MH2005PTC150548	AKSHATA REALTORS PRIVATE LIMITED	Director	01/06/2005	01/06/2005	31/12/2009	Active	NO
5	U50103MH2004PTC145563	PHEONIX AUTO PRIVATE LIMITED	Director	03/09/2005	03/09/2005	31/03/2008	Active	NO
6	U99999MH1996PTC103123	SUPERWAYS INVESTMENT AND FINANCE PRIVATE LIMITED	Director	22/05/2006	22/05/2006	26/06/2010	Active	NO
7	U51909MH2006PTC163344	ROYALWAYS TRADING AND INVESTMENT SERVICES PRIVATE LIMITED	Director	27/07/2006	27/07/2006	18/03/2010	Amalgamated	NO
8	U27106MH2007PTC171471	OSHIYA INDUSTRIES PRIVATE LIMITED	Director	09/06/2007	09/06/2007	-	Active	NO
9	U45202MH2008PTC182224	SHREE OSHIYA CONSTRUCTIONS PRIVATE LIMITED	Director	15/05/2008	15/05/2008	-	Active	NO
10	U14200MH2008PTC183979	KANAK MINES AND MINERALS PRIVATE LIMITED	Director	25/06/2008	25/06/2008	20/02/2013	Active	NO
11	U45202MH2009PTC197216	TEEVRA CONSTRUCTIONS PRIVATE LIMITED	Director	23/11/2009	23/11/2009	31/08/2010	Active	NO
12	U01400MH2010PTC198901	SHREE OSHIYA AGRO PRIVATE LIMITED	Director	14/01/2010	14/01/2010	-	Active	NO
13	U51909MH2003PTC141769	VIBRANT GLOBAL TRADING PRIVATE LIMITED	Additional director	20/04/2010	20/04/2010	24/06/2010	Active	NO
14	U29199MH2011PTC213310	DECATEX ENGINEERING PRIVATE LIMITED	Director	11/02/2011	11/02/2011	22/02/2013	Active	NO
15	U27100MH2007PTC167978	BALLARD STEELS PRIVATE LIMITED	Additional director	14/03/2011	14/03/2011	15/12/2011	Active	NO
16	U40200MH2011PLC218200	SHREE OSHIYA ENERGY LIMITED	Director	01/06/2011	01/06/2011	-	Active	NO
17	U70101MH2011PTC219149	SHREE OSHIYA REALTORS PRIVATE LIMITED	Director	27/06/2011	27/06/2011	-	Active	NO
18	U27107MH2010PTC208315	SHREE OSHIYA STEELS PRIVATE LIMITED	Additional director	15/07/2011	15/07/2011	-	Active	NO
19	U52100MH2012PTC225753	SHREE OSHIYA FERRO ALLOYS PRIVATE LIMITED	Director	05/01/2012	05/01/2012	-	Active	NO
20	U27205MH2010PTC202214	SHREE OSHIYA STRIPS IMPEX PRIVATE LIMITED	Additional director	22/03/2012	22/03/2012	-	Active	NO
21	U45400MH2013PTC241808	SHREE OSHIYA INFRA PRIVATE LIMITED	Director	09/04/2013	09/04/2013	-	Active	NO
22	U80900DL2014NPL265965	SHREE OSHIYA EDUCATION AND SOCIAL DEVELOPMENT	Director	06/03/2014	06/03/2014	-	Active	NO
23	U01403GJ2012PTC070498	PARAM GREENTECH PRIVATE LIMITED	Additional director	26/05/2014	26/05/2014	-	Active	NO

Name :

Mr. Satish Kumar Ranka

Designation :

Director

Address :

369, Banarsidas Ward, Jabalpur – 482002, Madhya Pradesh, India

Date of Birth/Age :

29.07.1964

Date of Appointment :

20.04.2010

DIN No. :

01593820

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	U45203MP1996PTC011076	SHRIMAL CONSTRUCTION COMPANY PRIVATE LIMITED	Director	07/02/2013	11/10/2001	-	Active	NO
2	U45202MH2008PTC182224	SHREE OSHIYA CONSTRUCTIONS PRIVATE LIMITED	Director	15/05/2008	15/05/2008	-	Active	NO
3	U51909WB2008PTC129657	CLASSIC TRADECOMM PRIVATE LIMITED	Director	09/12/2008	09/12/2008	16/02/2013	Active	NO
4	U45400WB2008PTC128096	CAMELLIA REALESTATES PRIVATE LIMITED.	Director	12/02/2013	29/12/2008	-	Active	NO
5	U27106MH2007PTC171471	OSHIYA INDUSTRIES PRIVATE LIMITED	Director	30/09/2009	01/09/2009	-	Active	NO
6	U45202MH2009PTC197216	TEEVRA CONSTRUCTIONS PRIVATE LIMITED	Director	23/11/2009	23/11/2009	05/02/2013	Active	NO
7	U01400MH2010PTC198901	SHREE OSHIYA AGRO PRIVATE LIMITED	Director	14/01/2010	14/01/2010	-	Active	NO
8	U27205MH2010PTC202214	SHREE OSHIYA STRIPS IMPEX PRIVATE LIMITED	Director	20/04/2010	20/04/2010	-	Active	NO
9	U45200MH2007PTC169559	SANTUARY HOUSING PRIVATE LIMITED	Director	30/09/2010	12/05/2010	23/02/2013	Active	NO
10	U27107MH2010PTC208315	SHREE OSHIYA STEELS PRIVATE LIMITED	Additional director	01/09/2012	01/09/2012	-	Active	NO
11	U52100MH2012PTC225753	SHREE OSHIYA FERRO ALLOYS PRIVATE LIMITED	Additional director	03/04/2014	03/04/2014	-	Active	NO

Name :

Mr. Milan Kumar Ranka

Designation :

Director

Address :

369, Main Road, Gorakhpur, Jabalpur – 482002, Madhya Pradesh, India

Date of Birth/Age :

13.07.1984

Date of Appointment :

20.04.2010

DIN No. :

02783454

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	U45202MH2009PTC197216	TEEVRA CONSTRUCTIONS PRIVATE LIMITED	Additional director	25/03/2010	25/03/2010	-	Active	NO
2	U27205MH2010PTC202214	SHREE OSHIYA STRIPS IMPEX PRIVATE LIMITED	Director	20/04/2010	20/04/2010	-	Active	NO
3	U27107MH2010PTC208315	SHREE OSHIYA STEELS PRIVATE LIMITED	Director	27/09/2010	27/09/2010	-	Active	NO
4	U27100MH2007PTC167978	BALLARD STEELS PRIVATE LIMITED	Additional director	14/03/2011	14/03/2011	27/03/2012	Active	NO
5	U52100MH2012PTC225753	SHREE OSHIYA FERRO ALLOYS PRIVATE LIMITED	Director	05/01/2012	05/01/2012	-	Active	NO
6	U45400MH2013PTC241808	SHREE OSHIYA INFRA PRIVATE LIMITED	Director	09/04/2013	09/04/2013	-	Active	NO
7	U80900DL2014NPL265965	SHREE OSHIYA EDUCATION AND SOCIAL DEVELOPMENT	Director	06/03/2014	06/03/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajesh Pauva
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Satish Kumar Ranka	378750	20.58
Milan Kumar Ranka	945000	51.36
Vijendra Vijayraj Ranka	516250	28.06
Total	1840000	100.00

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Iron and Steel
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

15 (Approximately)

Bankers :

Bank of Baroda, Fort University Branch, 119, Mahatama Gandhi Marg, Agra Building, Mumbai - 400001, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Loans taken for vehicles (Hypothecation of Specified Vehicle Financed By the Bank)	1.741	2.296
SHORT TERM BORROWINGS
Loans repayable on demand from banks (Loan Secured by Fixed Assets and Other Current Assets)	73.390	40.025
Total	75.131	42.321

Banking Relations :	--
Auditors :
Name :	Bhatter and Associates Chartered Accountants
Address :	31, 2^nd Floor, 47, Dr. M.B. Velkar Street Kolbhat Lane, Kalbadevi, Mumbai – 400002, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAMFB1780A
Associates:	· Oshiya Industries Private Limited Teevra Construction Private Limited Shree Oshiya Steels Private Limited Shree Oshiya Construction Private Limited Shree Oshiya Agro Private Limited

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs.10/- each	Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,840,000	Equity Shares	Rs.10/- each	Rs. 18.400 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	18.400	14.650	7.575
(b) Reserves & Surplus	55.307	43.626	22.154
(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)	73.707	58.276	29.729
(3) Non-Current Liabilities
(a) long-term borrowings	45.800	31.379	30.434
(b) Deferred tax liabilities (Net)	(0.105)	0.004	0.000
(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)	45.695	31.383	30.434
(4) Current Liabilities
(a) Short term borrowings	73.390	40.025	30.008
(b) Trade payables	384.120	199.243	43.635
(c) Other current liabilities	20.350	32.426	0.025
(d) Short-term provisions	0.252	0.106	0.000
Total Current Liabilities (4)	478.112	271.800	73.668
TOTAL	597.514	361.459	133.831
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.581	3.316	0.000
(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	0.001	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.192	2.508	0.191
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3.773	5.825	0.191
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	276.875	204.158	41.922
(c) Trade receivables	220.036	111.645	32.273
(d) Cash and cash equivalents	0.446	0.900	56.930
(e) Short-term loans and advances	83.478	31.711	0.659
(f) Other current assets	12.906	7.220	1.856
Total Current Assets	593.741	355.634	133.640
TOTAL	597.514	361.459	133.831

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1040.207 (Gross Income)	985.432	31.032
		Other Income	NA	4.299	0.000
		TOTAL	NA	989.731	31.032
Less	EXPENSES
		Cost of Materials Consumed		956.977	29.992
		Employees Benefits Expense		2.087	0.042
		Other Expenses		2.707	0.979
		TOTAL	1014.421 (Including Depreciation and Financial Expenses)	961.771	31.013
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION			27.960	0.019
Less	FINANCIAL EXPENSES			27.042	0.290
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION			0.918	-0.271
Less/ Add	DEPRECIATION/ AMORTISATION			0.560	0.000
	PROFIT/ (LOSS) BEFORE TAX		0.467	0.358	(0.271)
Less	TAX		0.036	0.111	0.000
	PROFIT/ (LOSS) AFTER TAX		0.431	0.247	(0.271)
	Earnings / (Loss) Per Share (Rs.)		0.27	0.22	-8.9

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	0.02	-0.87
Net Profit Margin (PBT/Sales)	(%)	NA	0.04	-0.87
Return on Total Assets (PBT/Total Assets}	(%)	0.08	0.10	-0.20
Return on Investment (ROI) (PBT/Networth)		0.01	0.01	-0.01
Debt Equity Ratio (Total Debt/Networth)		1.62	1.23	2.03
Current Ratio (Current Asset/Current Liability)		1.24	1.31	1.81

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	7.575	14.650	18.400
Reserves & Surplus	22.154	43.626	55.307
Net worth	29.729	58.276	73.707
long-term borrowings	30.434	31.379	45.800
Short term borrowings	30.008	40.025	73.390
Total borrowings	60.442	71.404	119.190
Debt/Equity ratio	2.033	1.225	1.617

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	31.032	985.432	1040.207 (Gross Income)
		3,075.535	5.558

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	31.032	985.432	1040.207
Profit	(0.271)	0.247	0.431
	(0.87%)	0.03%	0.04%

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	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10286930	16/10/2012 *	270,000,000.00	BANK OF BARODA	FORT UNIVERSITY BRANCH, 119, MAHATAMA GANDHI MARG, AGRA BUILDING, MUMBAI, MAHARASHTRA - 400001, INDIA	B61735973

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Loans and advances from directors	44.059	0.000
Loans and advances from others	0.000	29.083
Total	44.059	29.083

FIXED ASSETS

Tangible Assets

· Furniture and Fixture

Motor Car

Air Conditioner

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.60.09
UK Pound	1	Rs.102.33
Euro	1	Rs.82.01

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	SUM
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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	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		32

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.