1. Summary Information

		Country	India
Company Name	FARIDA CLASSIC SHOES PRIVATE LIMITED	Principal Name 1	Mr. Rafeeque Ahmed Mecca
Status	Satisfactory	Principal Name 2	Mr. Iqbal Ahmed Mecca
		Registration #	18-008805
Street Address	151/ 4, Mount Poonamallee High Road, Ramapuram, Chennai – 600 009, Tamilnadu, India
Established Date	09.06.1981	SIC Code	--
Telephone#	91-4174-244401 / 02 / 03 / 22523866 / 22523867 / 22523868	Business Style 1	Manufacturer
Fax #	91-4147-244403 / 91-44-22523870	Business Style 2	-
Homepage	http://www.farida.co.in	Product Name 1	Leather Closed Shoes
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 5,120,000/-	Product Name 3	--
Shareholders	Bodies corporate - (100.00%)	Banking	Citibank
Public Limited Corp.	No	Business Period	33 years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (47)
Related Company
Relation	Country	Company Name	CEO
Associates	India	Aston Shoes Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	270,997,000	Current Liabilities	131,531,000
Inventories	220,489,000	Long-term Liabilities	273,798,000
Fixed Assets	145,137,000	Other Liabilities	37,641,000
Deferred Assets	46,059,000	Total Liabilities	442,970,000
Invest& other Assets	68,917,000	Retained Earnings	303,509,000
		Net Worth	308,629,000
Total Assets	751,599,000	Total Liab. & Equity	751,599,000
Total Assets (Previous Year)	753,594,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	1,096,530,000	Profit Before Tax	35,027,000
Sales (Previous yr)	1,069,207,000	Profit Before Tax (Prev.yr) (Before Tax)	34,084,000

MIRA INFORM REPORT

Report Date :

23.06.2014

IDENTIFICATION DETAILS

Name :	FARIDA CLASSIC SHOES PRIVATE LIMITED
Registered Office :	151/ 4, Mount Poonamallee High Road, Ramapuram, Chennai – 600 009, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	09.06.1981
Com. Reg. No.:	18-008805
Capital Investment / Paid-up Capital :	Rs. 5.120 Millions
CIN No.: [Company Identification No.]	U18209TN1981PTC008805
TAN No.: [Tax Deduction & Collection Account No.]	CHEF00073D
PAN No.: [Permanent Account No.]	AAACF0451B
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in as manufacturer of Leather Closed shoes, Leather Shoe Uppers and Shoe Components and Exporter of Footwear and Footwear Components.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 20000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track of record. General financial position of the company seems to be sound and healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

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	CRISIL
Rating	Short Term Rating= A3 (Suspended)
Rating Explanation	Moderate degree of safety and high credit risk
Date	10.06.2014

Note: Reason for suspension: Absence of adequate information.

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 DENIED BY

Management Non Co-operative

Tel. No.: 91-44-22523866

LOCATIONS

Registered / Corporate Office :	151/ 4, Mount Poonamallee High Road, Ramapuram, Chennai – 600 009, Tamilnadu, India
Tel. No.:	91-4174-244401 / 02 / 03 / 22523866 / 22523867 / 22523868
Mobile No.:	91-9894610643 (P. Mohammed Siddique)
Fax No.:	91-4147-244403 / 91-44-22523870
E-Mail :	holding@farida.co.in fcsgm@farida.in rafeeque@farida.in
Website :	http://www.farida.co.in
Factory :	38, Jalal Road, Vellore District, Ambur – 635 802, Tamilnadu, India

DIRECTORS

As on 04.09.2013

Name :

Mr. Rafeeque Ahmed Mecca

Designation :

Managing Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600 034, Tamilnadu, India

Date of Birth/Age :

17.09.1947

Date of Appointment :

09.06.1981

DIN No.:

00013749

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	L85110TN1979PLC008035	APOLLO HOSPITALS ENTERPRISE LIMITED	Director	29-12-79	29-12-79	-	Active	NO
2	U18209TN1981PTC008805	FARIDA CLASSIC SHOES PRIVATE LIMITED	Managing director	09-06-81	09-06-81	-	Active	NO
3	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	19-04-85	19-04-85	-	Active	NO
4	U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Managing director	29-09-87	29-09-87	-	Active	NO
5	U73100TN1992NPL022530	INDIAN INSTITUTE OF LEATHER PRODUCTS	Director	23-04-92	23-04-92	-	Active	NO
6	U19201TN1995PTC030691	BAER SHOES (INDIA) PRIVATE LIMITED	Director	28-03-95	28-03-95	25-06-08	Active	NO
7	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Managing director	17-04-98	17-04-98	-	Active	NO
8	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Managing director	01-01-00	01-01-00	-	Active	NO
9	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19-06-01	19-06-01	-	Active	NO
10	U45203TN2001NPL047485	AMBUR ECONOMIC DEVELOPMENT ORGANISATION	Director	23-07-01	23-07-01	-	Active	NO
11	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26-05-04	26-05-04	-	Active	NO
12	U19201TN2004PTC053703	ASTON SHOES PRIVATE LIMITED	Managing director	12-07-04	12-07-04	-	Active	NO
13	U19112TN2005PTC055152	ARCOT SOLES PRIVATE LIMITED	Director	13-01-05	13-01-05	-	Active	NO
14	U74140TN2005PTC055310	FARIDA MANAGEMENT SERVICES PRIVATE LIMITED	Managing director	07-02-05	07-02-05	-	Strike off	NO
15	U74210TN2005PTC055311	FARIDA ENGINEERING SERVICES PRIVATE LIMITED	Managing director	07-02-05	07-02-05	-	Amalgamated	NO
16	U19116TN2005PTC055503	FARIDA XIEZHAN MOULDS PRIVATE LIMITED	Director	28-02-05	28-02-05	-	Amalgamated	NO
17	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11-04-05	11-04-05	-	Active	NO
18	U19116TN2005PTC056220	AADIL ASHFAQUE & CO.PRIVATE LIMITED	Director	10-05-05	10-05-05	-	Active	NO
19	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24-02-06	24-02-06	-	Active	NO
20	U93090TN1996NPL035469	INDIAN LEATHER INDUSTRY FOUNDATION	Director	05-08-06	05-08-06	-	Active	NO
21	U19201TN2004PTC053247	TOP FONDI SOLES (INDIA) PRIVATE LIMITED	Director	21-08-07	18-06-07	-	Amalgamated	NO
22	U19119TN1989PLC016997	AMBUR TANNERY EFFLUENT TREATMENT COMPANY LIMITED	Director	20-06-07	20-06-07	-	Active	NO
23	U93000TN2008NPL068574	CHENNAI ENVIRONMENTAL MANAGEMENT COMPANY OF TANNERS	Director	15-07-08	15-07-08	-	Active	NO
24	U93090TN1984NPL010934	COUNCIL FOR LEATHER EXPORTS	Additional director	18-12-10	18-12-10	-	Active	NO
25	U63090TN2011PTC080447	WESTERN GATEWAY CARGO SERVICES PRIVATE LIMITED	Director	04-05-11	04-05-11	-	Active	NO
26	U74999TN1910NPL002343	SOUTHERN INDIA CHAMBER OF COMMERCE & INDUSTRY	Director	07-09-11	07-09-11	-	Active	NO
27	U74999MH1957GOI010918	EXPORT CREDIT GUARANTEE CORPORATION OF INDIA LIMITED	Director	13-03-12	13-03-12	-	Active	NO

Name :

Mr. Iqbal Ahmed Mecca

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600 034, Tamilnadu, India

Date of Birth/Age :

10.10.1969

Date of Appointment :

01.01.2000

DIN No.:

00013788

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	U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Director	29-09-87	29-09-87	-	Active	NO
2	U19201TN1992PTC022110	RIVIERA SHOES PRIVATE LIMITED	Director	31-01-92	31-01-92	-	Strike off	NO
3	U18209TN1992PTC022111	FARIDA LEATHERWARE PRIVATE LIMITED	Director	31-01-92	31-01-92	-	Active	NO
4	U73100TN1993GAP026146	AMBUR FDDI SHOE TECHNOLOGY CENTRE	Director	03-11-93	03-11-93	-	Active	NO
5	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
6	U18209TN1981PTC008805	FARIDA CLASSIC SHOES PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
7	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11-04-05	11-04-05	-	Active	NO
8	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24-02-06	24-02-06	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 04.09.2013

Names of Shareholders	No. of Shares
Rafeeque Ahmed Mecca	1
Israr Ahmed	50
Ashfaque Ahmed	50
Farida Holdings Private Limited, India	51099
Total	51200

Equity Share Break up (Percentage of Total Equity)

As on: 04.09.2013

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in as manufacturer of Leather Closed shoes, Leather Shoe Uppers and Shoe Components and Exporter of Footwear and Footwear Components.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Citibank N.A. 163, Anna Salai, Second Floor, Chennai – 600002, Tamilnadu, India

· State Bank of India –Oversease Branch, 39 Rajaji Salai, Madras-600001, Tamil Nadu, India

· Axis Bank

· HDFC Bank

Facilities :

SECURED LOANS :

(Rs. In Millions)

PARTICULARS	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWINGS
Loan taken for fixed asset	1.362	2.245
SHORT TERM BORROWINGS
Term Loan from Banks	272.436	0.000
Total	273.798	2.245

Banking Relations :	---
Auditors :
Name :	Akber Rifa and Company Chartered Accountants
Address :	C8, Orchid Manor Appartment, Diwan Rama Road, Purasalkam, Chennai – 600084, Tamilnadu, India
PAN No.:	AAUFA5645D
Associates :	Farida Shoes Private Limited, India CIN : U19119TN1976PTC007207 Farida Prime Tannery Private Limited, India CIN : U19201TN2005PTC055925 Jafra Insoles India Private Limited, India CIN : U19112TN2006PTC058989 Delta Shoes Private Limited CIN : U18209TN1989PTC014919 Arcot Sloes Private Limited, India CIN : U19112TN2005PTC055152 Farida Leatherware Private Limited, India CIN : U18209TN1992PTC022111 India Shoes Exports Private Limited, India CIN : U19201TN1998PTC040339

CAPITAL STRUCTURE

As on : 04.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs. 100/-each	Rs. 25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
51200	Equity Shares	Rs. 100/- each	Rs. 5.120 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	5.120	5.120	5.120
(b) Reserves & Surplus	303.509	279.904	254.012
(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)	308.629	285.024	259.132
(3) Non-Current Liabilities
(a) long-term borrowings	1.362	39.361	38.554
(b) Deferred tax liabilities (Net)	11.889	11.633	11.489
(c) Other long term liabilities	25.099	44.795	23.370
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	38.350	95.789	73.413
(4) Current Liabilities
(a) Short term borrowings	272.436	278.081	279.889
(b) Trade payables	94.876	71.901	77.752
(c) Other current liabilities	11.556	6.875	7.163
(d) Short-term provisions	25.752	15.924	4.683
Total Current Liabilities (4)	404.620	372.781	369.487
TOTAL	751.599	753.594	702.032
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	145.137	152.603	161.659
(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	68.917	68.913	34.067
(c) Deferred tax assets (net)	46.059	88.644	0.000
(d) Long-term Loan and Advances	0.000	0.000	15.459
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	260.113	310.160	211.185
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	220.489	233.233	189.529
(c) Trade receivables	174.529	117.695	210.336
(d) Cash and cash equivalents	10.027	4.460	8.768
(e) Short-term loans and advances	42.296	50.612	54.002
(f) Other current assets	44.145	37.434	28.212
Total Current Assets	491.486	443.434	490.847
TOTAL	751.599	753.594	702.032

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1096.530	1069.207
		Other Income	174.430	187.476
		TOTAL	1270.960	1256.683	1388.423
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	1235.933	1222.599	1366.422
	PROFIT BEFORE TAX		35.027	34.084	22.001
	TAX		NA	NA	4.045
	PROFIT AFTER TAX		NA	NA	17.956
	BALANCE CARRIED TO THE B/S		NA	NA	43.586
	EARNINGS IN FOREIGN CURRENCY		1003.968	1131.918	NA
	Earnings Per Share (Rs.)		6.84	6.66	362.00

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	NA	1.29
Net Profit Margin (PBT/Sales)	(%)	3.19	3.19	NA
Return on Total Assets (PBT/Total Assets}	(%)	5.50	4.98	3.29
Return on Investment (ROI) (PBT/Networth)		0.11	0.12	0.08
Debt Equity Ratio (Total Debt /Networth)		0.89	0.34	0.28
Current Ratio (Current Asset/Current Liability)		1.21	1.35	1.33

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	5.120	5.120	5.120
Reserves & Surplus	254.012	279.904	303.509
Net worth	259.132	285.024	308.629
long-term borrowings	38.554	39.361	1.362
Short term borrowings	279.889	278.081	272.436
Total borrowings	318.443	317.442	273.798
Debt/Equity ratio	1.229	1.114	0.887

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)
Total Sales	1388.423	1256.683	1270.960
		(9.488)	1.136

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Sales	1388.423	1256.683	1270.960
Profit Before Tax	22.001	34.083	35.027
	1.58%	2.71%	2.76%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	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

UNSECURED LOANS:

(Rs in Millions)

PARTICULARS	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWINGS
Term Loans from Others	0.000	37.117
SHORT TERM BORROWINGS
Loans repayable on demand	0.000	278.080
Total	0.000	315.197

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10336966	25/01/2012	65,000,000.00	Citi bank N.A.	163, Anna Salai, Second Floor, Chennai, Tamil Nad  u - 600002, INDIA	B32712317
2	10233245	02/05/2014 *	475,000,000.00	Citi Bank N.A.	163, Anna Salai, Chennai, Chennai, Tamil Nadu - 6  00002, INDIA	C03779758

* Date of charge modification

FIXED ASSETS

· Apartments

· Factory Building

· Computers

· Furniture and Fittings

· Land

· Guest House

· Land

· Plant and Machinery

· Cycle

· Motor Car

· Air Conditioners

· Jeep

· Auto

· Office Equipment and Others

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. 60.27
UK Pound	1	Rs. 102.76
Euro	1	Rs. 82.12

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		47

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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