MIRA INFORM REPORT

Report Date :

08.07.2014

IDENTIFICATION DETAILS

Name :	PLASOPAN ENGINEERS INDIA PRIVATE LIMITED
Registered Office :	B-10, Chirag Enclave, New Delhi – 110048
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	04.12.1991
Com. Reg. No.:	55-046634
Capital Investment / Paid-up Capital :	Rs.12.071 Millions
CIN No.: [Company Identification No.]	U74899DL1991PTC046634
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and exporter of plastic profiles.
No. of Employees :	80 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 100000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – 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.

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. Ajay
Designation :	Account Executive
Contact No.:	91-129-4127771
Date :	07.07.2014

LOCATIONS

Registered Office :	B-10, Chirag Enclave, New Delhi – 110048, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	info@plasopan.com
Website :	www.plasopan.com
Location :	Owned
Locality :	Commercial
Head Office :	C-83, Okhla Industrial Area, Phase-I, New Delhi – 110020, India
Factory :	20/1 K.M. Old Shershah Suri Marg, Opposite Sector-37, Faridabad – 121003, Haryana, India
Tel. No.:	91-129-4127771
Fax No.:	91-129-4127769

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Hulas Mal Lalani

Designation :

Whole-time Director

Address :

B-10, Chirag Enclave, New Delhi – 110048, India

Date of Birth/Age :

01.05.1944

Date of Appointment :

04.12.1991

DIN No.:

00257693

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	U74899DL1983PTC014966	DUROPAN ENGINEERS (INDIA) PRIVATE LIMITED	Director	11/01/1983	11/01/1983	-	Active	NO
2	U52109DL1986PLC024711	CRAYONS.ADVERTISING LTD	Director	01/08/1986	01/08/1986	-	Active	NO
3	U74899DL1985PTC021555	AARHAM ENGINEERS PRIVATE LIMITED	Director	08/11/1986	08/11/1986	-	Active	NO
4	U74899DL1985PTC022538	DURO PRINTS PRIVATE LIMITED	Director	14/09/1991	14/09/1991	-	Active	NO
5	U74899DL1991PTC046634	PLASOPAN ENGINEERS INDIA PRIVATE LIMITED	Whole-time director	04/12/1991	04/12/1991	-	Active	NO
6	U74899DL1976PLC008058	INDICATION INSTRUMENTS LIMITED	Director	17/12/1992	17/12/1992	-	Active	NO
7	L01120DL1985PLC092375	MEGA CORPORATION LIMITED	Director	17/10/2001	17/10/2001	-	Active	NO
8	U74999DL2000PLC103535	MEGA CABS LIMITED	Director	01/12/2004	01/12/2004	-	Active	NO

Name :

Mr. Vikas Lalani

Designation :

Whole-time Director

Address :

B-10, Chirag Enclave, New Delhi – 110048, India

Date of Birth/Age :

23.03.1970

Date of Appointment :

06.12.1993

DIN No.:

01750104

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	U74899DL1991PTC046634	PLASOPAN ENGINEERS INDIA PRIVATE LIMITED	Whole-time director	06/12/1993	06/12/1993	-	Active	NO
2	U74899DL1985PTC022538	DURO PRINTS PRIVATE LIMITED	Director	27/02/1998	27/02/1998	-	Active	NO
3	U74899DL1983PTC014966	DUROPAN ENGINEERS (INDIA) PRIVATE LIMITED	Director	02/03/2004	02/03/2004	-	Active	NO

Name :

Mr. Mayank Lalani

Designation :

Director

Address :

B-10, Chirag Enclave, New Delhi – 110048, India

Date of Birth/Age :

08.08.1975

Date of Appointment :

05.10.1998

DIN No.:

01750134

Name :

Mr. Kunal Lalani

Designation :

Director

Address :

C-5, Chirag Enclave, New Delhi – 110048, India

Date of Appointment :

04.12.1991

DIN No.:

00002756

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	U34300HR1986PTC034124	V AND R AUTO GAUGES PRIVATE LIMITED	Director	05/06/1986	05/06/1986	-	Active	NO
2	U52109DL1986PLC024711	CRAYONS.ADVERTISING LTD	Managing director	01/04/2011	01/08/1986	-	Active	NO
3	U74899DL1991PTC046634	PLASOPAN ENGINEERS INDIA PRIVATE LIMITED	Director	04/12/1991	04/12/1991	-	Active	NO
4	U65993DL1992PTC047636	VIMI INVESTMENTS AND FINANCE PRIVATE LIMITED	Director	17/02/1992	17/02/1992	-	Active	NO
5	U74899DL1995PTC065138	CRAYONS GLOBAL FINANCE PRIVATE LIMITED	Director	02/03/1995	02/03/1995	-	Active	NO
6	L01120DL1985PLC092375	MEGA CORPORATION LIMITED	Director	31/12/2009	18/03/1996	15/06/2010	Active	NO
7	U74899DL1995PTC065747	SAHYOG PROPERTIES PRIVATE LIMITED	Director	12/09/1997	12/09/1997	-	Active	NO
8	U74999DL2000PLC103535	MEGA CABS LIMITED	Managing director	01/01/2013	01/12/2004	-	Active	NO
9	U63040DL2005PTC135471	MEGA HOLIDAYS Private Limited	Director	27/04/2005	27/04/2005	05/03/2011	Active	NO
10	U00072DL2005PLC136054	Mega Airways Limited	Director	10/05/2005	10/05/2005	-	Active	NO
11	U99999DL2006PTC147586	MEGA INFRATECH PRIVATE LIMITED	Director	16/03/2006	16/03/2006	30/08/2007	Active	NO
12	U72901DL2006PTC148381	MEGA INFOTEL PRIVATE LIMITED.	Director	15/04/2006	15/04/2006	-	Active	NO
13	U74991DL2006PTC148950	ULTRAVIOLET DIGITAL SOLUTIONS PRIVATE LIMITED	Director	24/09/2011	30/05/2006	-	Active	NO
14	U72300DL2006PTC151787	J TECH COMMUNICATION INDIA PRIVATE LIMITED	Director	08/08/2006	08/08/2006	01/06/2013	Active	NO
15	U55101DL2002PTC117820	TABASKO HOSPITALITY PRIVATE LIMITED	Additional director	30/01/2007	30/01/2007	08/10/2009	Active	NO
16	U92199UP2006PTC031646	JAM INDIA PRIVATE LIMITED	Director	07/02/2007	07/02/2007	-	Active	NO
17	U45400DL2007PTC162400	Ecotec Developers Private Limited	Director	23/04/2007	23/04/2007	-	Active	NO
18	U60200DL2008PTC182170	KOLKATA CALL TAXI PRIVATE LIMITED	Director	19/08/2008	19/08/2008	-	Active	NO
19	U63000DL2009PTC188322	LUDHIANA CALL TAXI PRIVATE LIMITED	Director	09/03/2009	09/03/2009	01/06/2013	Active	NO
20	U55101DL2009PTC193917	S K HOTELS PRIVATE LIMITED	Director	10/09/2010	10/03/2010	01/03/2013	Active	NO
21	U34102DL2010PTC206318	Mega Motoren & Lifestyles Private Limited	Director	27/07/2010	27/07/2010	01/06/2013	Active	NO
22	U74300MH1991GAP062428	INDIA CHAPTER OF INTERNATIONAL ADVERTISING ASSOCIATION.	Director	27/08/2010	27/08/2010	-	Active	NO
23	U63090DL2010PTC209606	Ganges Radio Taxi Private Limited	Director	20/10/2010	20/10/2010	31/03/2013	Active	NO
24	U55101DL2008PTC178555	BB HOSPITALITY VENTURES PRIVATE LIMITED	Director	29/09/2011	01/04/2011	-	Active	NO
25	U55101DL2008PTC178333	B. BAR HOSPITALITY VENTURES PRIVATE LIMITED	Director	29/09/2011	22/04/2011	-	Active	NO
26	U63000DL2012PTC232126	Bengaluru Megacabs Private Limited	Director	28/02/2012	28/02/2012	-	Active	NO
27	U55101DL2012PTC246201	B.Bar Mumbai Private Limited	Director	14/12/2012	14/12/2012	-	Active	NO
28	U55101DL2014PTC267307	SANYA RESORTS AND HOSPITALITY PRIVATE LIMITED	Director	31/03/2014	31/03/2014	-	Active	NO
29	U51900MH2008PTC184530	BOLLYWOOD MERCHANDISE PRIVATE LIMITED	Additional director	12/05/2014	12/05/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ajay
Designation :	Account Executive

MAJOR SHAREHOLDERS

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Hulas Mal Lalani	424261
Todar Mal Lalani	23880
Kunal Lalani	7960
Mayank Lalani	320003
Vikas Lalani	393501
Smita Dhariwal	1
Versha Bengani	1
Durga Devi Lalani	1
Dinesh Kumar Sipani	1
Suwa Devi Sipani	1
Mega Corporation Limited	37500
Manish Dhariwal	1
Sapna Lalwani	1
Abhilasha Lalani	1
Total	1207113

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2013

Category	Percentage
Bodies corporate	3.10
Directors or relatives of Directors	96.90
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and exporter of plastic profiles.
Exports :
Products :	Finished Goods
Countries :	China
Imports :
Products :	Raw Materials
Countries :	China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

80 (Approximately)

Bankers :

Union Bank of India, Sme Okhla Branch, 173-174, Dsidc Sheds, Okhla Industrial Area, Phase-1, New Delhi – 110020, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Term Loans from Banks	0.660	0.388
Short Term Borrowings
Term Loans from Banks	0.812	3.423
Working Capital Loans from Banks	14.748	12.033
Total	16.220	15.844

Banking Relations :	--
Auditors :
Name :	Sipani and Associates Chartered Accountants
Address :	162, Wadhwa Complex, D-288/289 Street No.10, Laxmi Nagar, Delhi – 110092, India
Tel. No.:	91-11-22424942 / 42418942
Mobile No.:	91-9811017629
E-mail :	vksipani@yahoo.com
PAN No.:	AAKPS2084E

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1250000	Equity Shares	Rs.10/- each	Rs.12.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1207113	Equity Shares	Rs.10/- each	Rs.12.071 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	12.071	12.071	12.071
(b) Reserves & Surplus	12.873	12.058	11.585
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	1.100	1.100	1.100
Total Shareholders’ Funds (1) + (2)	26.044	25.229	24.756
(3) Non-Current Liabilities
(a) long-term borrowings	34.670	25.995	24.693
(b) Deferred tax liabilities (Net)	0.418	0.606	0.928
(c) Other long term liabilities	0.059	0.792	1.189
(d) long-term provisions	2.303	2.236	2.133
Total Non-current Liabilities (3)	37.450	29.629	28.943
(4) Current Liabilities
(a) Short term borrowings	15.560	15.456	21.991
(b) Trade payables	10.427	7.886	4.685
(c) Other current liabilities	17.301	10.683	7.561
(d) Short-term provisions	0.764	0.565	0.247
Total Current Liabilities (4)	44.052	34.590	34.484
TOTAL	107.546	89.448	88.183
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	29.867	31.882	34.414
(ii) Intangible Assets	0.000	0.000	0.069
(iii) Capital work-in-progress	0.434	0.403	0.403
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.007	0.007	0.007
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.814	1.785	1.760
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	32.122	34.077	36.653
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	38.299	24.815	24.244
(c) Trade receivables	24.495	19.974	14.685
(d) Cash and cash equivalents	1.027	1.504	2.877
(e) Short-term loans and advances	11.603	9.078	9.724
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	75.424	55.371	51.530
TOTAL	107.546	89.448	88.183

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	68.523	62.834	53.675
		Other Income	1.570	2.272	5.403
		TOTAL (A)	70.093	65.106	59.078
Less	EXPENSES
		Cost of Materials Consumed	43.539	35.543	38.483
		Purchase of Stock-in-trade	3.733	2.166	1.496
		Increase / (Decrease) in Finished Stock	(6.881)	(0.891)	(7.316)
		Employee Benefits Expenses	4.801	4.813	4.966
		Other Expenses	14.116	13.075	12.685
		TOTAL (B)	59.308	54.706	50.314
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		10.785	10.400	8.764
Less	FINANCIAL EXPENSES (D)		5.152	5.137	5.346
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.633	5.263	3.418
Less	DEPRECIATION/ AMORTISATION (F)		4.472	4.796	5.265
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		1.161	0.467	(1.847)
Less	TAX (H)		0.346	(0.007)	1.731
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		0.815	0.474	(3.578)
	Earnings Per Share (Rs.)		0.68	0.39	(2.96)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.16	0.73	-6.06
Net Profit Margin (PBT/Sales)	(%)	1.69	0.74	-3.44
Return on Total Assets (PBT/Total Assets}	(%)	1.08	0.52	-2.10
Return on Investment (ROI) (PBT/Networth)		0.04	0.02	-0.07
Debt Equity Ratio (Total Debt /Networth)		1.93	1.64	1.89
Current Ratio (Current Asset/Current Liability)		1.71	1.60	1.49

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	12.071	12.071	12.071
Reserves & Surplus	11.585	12.058	12.873
Share Application money pending allotment	1.100	1.100	1.100
Net worth	24.756	25.229	26.044
long-term borrowings	24.693	25.995	34.670
Short term borrowings	21.991	15.456	15.560
Total borrowings	46.684	41.451	50.230
Debt/Equity ratio	1.886	1.643	1.929

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	53.675	62.834	68.523
		17.064	9.054

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	53.675	62.834	68.523
Profit	(3.578)	0.474	0.815
	(6.67%)	0.75%	1.19%

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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Loans and Advances from Related Parties	34.010	25.607
Total	34.010	25.607

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10391208	23/10/2012	1,220,000.00	UNION BANK OF INDIA	SME OKHLA BRANCH, 173-174, DSIDC SHEDS, OKHLA INDUSTRIAL AREA, PHASE-1,, NEW DELHI - 110020, INDIA	B63838585
2	10159058	23/10/2012 *	10,689,000.00	UNION BANK OF INDIA	SME OKHLA BRANCH, 173-174, DSIDC SHEDS, OKHLA INDUSTRIAL AREA, PHASE-1,, NEW DELHI - 110020, INDIA	B63837298
3	10120262	23/10/2012 *	26,401,000.00	UNION BANK OF INDIA	SME OKHLA BRANCH, 173-174, DSIDC SHEDS, OKHLA INDUSTRIAL AREA, PHASE-1,, NEW DELHI - 110020, INDIA	B63828370
4	90062405	23/10/2012 *	13,000,000.00	UNION BANK OF INDIA	SME OKHLA BRANCH, 173-174, DSIDC SHEDS, OKHLA INDUSTRIAL AREA, PHASE-1,, NEW DELHI - 110020, INDIA	B63835359

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Dies and Tools

· Computer and Accessories

· Furniture and Fixture

· Vehicles

· Tempo

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.59.95
UK Pound	1	Rs.102.78
Euro	1	Rs.81.39

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	DIV
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		41

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.