MIRA INFORM REPORT

Report Date :

01.03.2014

IDENTIFICATION DETAILS

Name :	NEST REALTIES INDIA PRIVATE LIMITED
Registered Office :	XIX/346, Stone House, Market Road, Aluva, Ernakulam – 683101, Kerala
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	20.10.2006
Com. Reg. No.:	09-019929
Capital Investment / Paid-up Capital :	Rs. 1.500 Millions
CIN No.: [Company Identification No.]	U70101KL2006PTC019929
TAN No.: [Tax Deduction & Collection Account No.]	CHNN01621E
PAN No.: [Permanent Account No.]	AACCN4386K
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of developing infrastructure projects.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There are accumulated losses recorded by the company which has eroded networth of the company. Business is active. Payment terms are slow. The company can be considered for business dealings on a safe and secured 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.

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. David
Designation :	Admin Manager
Contact No.:	91-9746400213
Date :	26.02.2014

LOCATIONS

Registered Office :	XIX/346, Stone House, Market Road, Aluva, Ernakulam – 683101, Kerala, India
Tel. No.:	Not Available
Mobile No.:	91-9746400213 (Mr. David)
Fax No.:	Not Available
E-Mail :	n.jehangir@nestgroup.net
Website :	http://www.nestinfratech.com
Corporate Office :	Nest Infratech, Compass, NH - 47 Bypass, Chakkaraparambu, Near Vysali Bus Stop, Cochin - 682032, Kerala, India
Tel. No.:	91-484-4477555
E-Mail :	mail@nestinfratech.com
Branch Office :	Nest Infratech, Malikayil Building, Opposite Mount Carmel LP School, Kanjikuzhi, Kottayam, Kerala, India
Tel. No.:	91-481-2571315

DIRECTORS

AS ON 30.09.2013

Name :

Nagoor Jehangir Rawther

Designation :

Managing director

Address :

Mackar Manzil, Thynothil Road, Aluva, Ernakulam – 683101, Kerala, India

Date of Birth/Age :

01.12.1955

Date of Appointment :

20.10.2006

DIN No.:

00002790

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	U72900KL1990PTC005620	SFO TECHNOLOGIES PRIVATE LIMITED	Managing director	01/11/2006	08/02/1990	-	Active	NO
2	U32109KL1992PTC006409	CRYSIND ELECTRONICS PRIVATE LIMITED	Managing director	01/11/2006	28/02/1992	-	Amalgamated	NO
3	U28999KL1994PTC007865	SUN PRECISION WORKS PRIVATE LIMITED	Managing director	01/11/2006	22/04/1994	-	Amalgamated	NO
4	U31300KL1994PTC007867	SUN GENERIC CABLES PRIVATE LIMITED	Managing director	01/11/2006	22/12/1994	-	Amalgamated	NO
5	U51311KL1990PLC006710	TREND TEXTILE LIMITED	Director	05/04/1995	05/04/1995	30/11/2012	Active	NO
6	U33201KL1996PTC010702	J2 OPTRONICS PRIVATE LIMITED.	Managing director	01/11/2006	02/09/1996	-	Amalgamated	NO
7	U72200KL1997PTC011153	NEST SYSTEMS PRIVATE LIMITED	Managing director	01/11/2006	28/01/1997	-	Amalgamated	NO
8	U72200KL1995PTC008912	NETWORK SYSTEMS AND TECHNOLOGIES PRIVATE LIMITED	Managing director	24/06/1997	24/06/1997	-	Active	NO
9	U15495KL1989PLC005529	NEST CONDIMENTS LIMITED	Director	18/10/1997	18/10/1997	-	Active	NO
10	U72200KL1998PTC012602	NEST INFORMATION TECHNOLOGIES PRIVATE LIMITED	Managing director	18/11/1998	18/11/1998	-	Active	NO
11	U30009KL1999PTC013131	SABA POWERDEX PRIVATE LIMITED	Director	12/07/1999	12/07/1999	01/09/2012	Active	NO
12	U31200KL2000PTC013605	NEST POWER ELECTRONICS PRIVATE LIMITED	Managing director	01/11/2006	19/01/2000	-	Amalgamated	NO
13	U31904KL2000PTC014280	NEST MAGNETICS PRIVATE LIMITED	Director	24/10/2000	24/10/2000	-	Amalgamated	NO
14	U33201KL2000PTC014279	SWIFTLINK FIBRE OPTICS PRIVATE LIMITED	Director	24/10/2000	24/10/2000	-	Amalgamated	NO
15	U72200KL2001PTC014952	NEST INSTITUTE OF ADVANCED TECHNOLOGIES PRIVATE LIMITED	Director	18/09/2001	18/09/2001	-	Strike off	NO
16	U35999KL2002PTC015731	NEST AEROSPACE PRIVATE LIMITED	Director	07/11/2002	07/11/2002	-	Active	NO
17	U72900KA2002PTC069523	NTC SOFTECH INDIA PRIVATE LIMITED	Director	05/12/2002	05/12/2002	06/01/2012	Active	NO
18	U72900KL2002PTC015791	NEST TECHNOLOGY ENABLED SERVICES PRIVATE LIMITED	Director	05/12/2002	05/12/2002	-	Active	NO
19	U15311KL1993PTC006960	NAZ RICE AND FOODS PRIVATE LIMITED	Director	01/06/2005	01/06/2005	-	Active	NO
20	U15312KL1996PTC010357	NENMANY AGRO MILLS PRIVATE LIMITED	Director	01/06/2005	01/06/2005	-	Active	NO
21	U29220KL2006PTC019920	RAY-HANS PRECISION TOOLS PRIVATE LIMITED	Managing director	17/10/2006	17/10/2006	-	Active	NO
22	U70101KL2006PTC019929	NEST REALTIES INDIA PRIVATE LIMITED	Managing director	20/10/2006	20/10/2006	-	Active	NO
23	U30009KL2006PTC020022	NEST CONNECTIVITY SOLUTIONS PRIVATE LIMITED	Managing director	23/11/2006	23/11/2006	05/03/2012	Active	NO
24	U70102KL2007PTC020633	NEST HI-TEK PARK PRIVATE LIMITED	Managing director	11/04/2007	11/04/2007	-	Active	NO
25	U32109KL2007PTC021022	SFO TECHNOLOGIES DIGITAL PRIVATE LIMITED	Managing director	07/06/2012	03/07/2007	-	Amalgamated	NO
26	U74140KL2008PTC022613	JAVAD K HASSAN CONSULTANCY PRIVATE LIMITED	Director	16/06/2008	16/06/2008	-	Active	NO
27	U15499KL2010PTC025511	QLIFE CONSUMER PRODUCTS PRIVATE LIMITED	Director	16/02/2010	16/02/2010	-	Active	NO
28	U15400KL2011PTC027626	MALABAR MEGA FOOD PARK PRIVATE LIMITED	Director	09/02/2011	09/02/2011	-	Active	NO
29	U15499KL2007PTC020723	ROYALMALABAR FOODS PRIVATE LIMITED	Director	05/05/2011	05/05/2011	-	Active	NO
30	U33130KA2011PTC060750	HITACHI NEST CONTROL SYSTEMS PRIVATE LIMITED	Director	10/10/2011	10/10/2011	-	Active	NO
31	U51225KL2008PTC023445	GREENHOUSE CARDAMOM MARKETING INDIA PRIVATE LIMITED	Director	20/12/2012	20/12/2012	-	Active	NO
32	U80903KL2013PTC033914	NEST INSTITUTE OF FIBER OPTIC TECHNOLOGY PRIVATE LIMITED	Director	24/04/2013	24/04/2013	-	Active	NO

Name :

Javad Kuttikaran Hassan

Designation :

Director

Address :

1235, Stuart Robeson Drive, MC Lean VA22101 USA

Date of Birth/Age :

07.10.1940

Date of Appointment :

09.04.2010

DIN No.:

00004483

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	U32109KL1992PTC006409	CRYSIND ELECTRONICS PRIVATE LIMITED	Director	28/02/1992	28/02/1992	Amalgamated	NO
2	U72900KL1990PTC005620	SFO TECHNOLOGIES PRIVATE LIMITED	Director	22/12/2004	22/12/2004	Active	NO
3	U31300KL1994PTC007867	SUN GENERIC CABLES PRIVATE LIMITED	Director	22/12/2004	22/12/2004	Amalgamated	NO
4	U74140KL2008PTC022613	JAVAD K HASSAN CONSULTANCY PRIVATE LIMITED	Director	16/06/2008	16/06/2008	Active	NO
5	U33113KA2009PTC049727	OPTERNA TECHNOLOGIES PRIVATE LIMITED	Director	30/04/2009	30/04/2009	Active	NO
6	U70101KL2006PTC019929	NEST REALTIES INDIA PRIVATE LIMITED	Director	09/04/2010	09/04/2010	Active	NO
7	U72900KA2002PTC069523	NTC SOFTECH INDIA PRIVATE LIMITED	Director	31/01/2011	31/01/2011	Active	NO

Name :

Althaaf Jehangir

Designation :

Director

Address :

Mackar Manzil, Thynothil Road, Aluva, Ernakulam – 683101, Kerala, India

Date of Birth/Age :

01.02.1985

Date of Appointment :

20.10.2006

DIN No.:

00006080

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	U29220KL2006PTC019920	RAY-HANS PRECISION TOOLS PRIVATE LIMITED	Director	17/10/2006	17/10/2006	-	Active	NO
2	U70101KL2006PTC019929	NEST REALTIES INDIA PRIVATE LIMITED	Director	20/10/2006	20/10/2006	-	Active	NO
3	U30009KL2006PTC020022	NEST CONNECTIVITY SOLUTIONS PRIVATE LIMITED	Director	23/11/2006	23/11/2006	05/03/2012	Active	NO
4	U70102KL2007PTC020633	NEST HI-TEK PARK PRIVATE LIMITED	Director	11/04/2007	11/04/2007	-	Active	NO
5	U32109KL2007PTC021022	SFO TECHNOLOGIES DIGITAL PRIVATE LIMITED	Director	03/07/2007	03/07/2007	01/09/2007	Amalgamated	NO
6	U31900TN2009PTC073435	RAY-HANS CABLES AND MAGNETICS PRIVATE LIMITED	Managing director	06/11/2009	06/11/2009	15/02/2011	Active	NO
7	U15499KL2010PTC025511	QLIFE CONSUMER PRODUCTS PRIVATE LIMITED	Managing director	16/02/2010	16/02/2010	-	Active	NO
8	U15499KL2007PTC020723	ROYALMALABAR FOODS PRIVATE LIMITED	Director	05/05/2011	05/05/2011	-	Active	NO
9	U80903KL2013PTC033914	NEST INSTITUTE OF FIBER OPTIC TECHNOLOGY PRIVATE LIMITED	Director	24/04/2013	24/04/2013	-	Active	NO

Name :

Fazil Mohammed Shamier Marickar

Designation :

Whole-time director

Address :

E10, Kent Paradise, Palarivattom, Ernakulam – 682032, Kerala, India

Date of Birth/Age :

30.08.1975

Date of Appointment :

09.04.2010

DIN No.:

01237042

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	U45201KL2004PTC016927	KENT CONSTRUCTIONS PRIVATE LIMITED	Director	08/03/2004	08/03/2004	13/11/2009	Active	NO
2	U01132KL2007PTC020445	MARICKAR PLANTATIONS PRIVATE LIMITED	Director	06/03/2007	06/03/2007	-	Active	NO
3	U55101KL2003PTC015864	AIRPORT GOLF VIEW HOTELS AND SUITES PRIVATE LIMITED	Managing director	30/03/2009	28/07/2008	21/10/2009	Active	NO
4	U70101KL2006PTC019929	NEST REALTIES INDIA PRIVATE LIMITED	Whole-time director	09/04/2010	09/04/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. David
Designation :	Admin Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Nagoor Jehangir	3520	23.47
Althaaf Jehangir	2500	16.67
Nazneen Jehangir	1000	6.67
Marickar Plantations Private Limited, India	4680	31.20
Javad Kuttikaran Hassan	3300	22.00
Total	15000	100.00

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	31.00
Directors or relatives of directors	69.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of developing infrastructure projects.
Brand Names :	“Nest Infratech”

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

Not Divulged

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Vehicle Loan	0.469	0.286
Total	0.469	0.286

Banking Relations :	--
Financial Institution :	Magma Fincorp Limited
Auditors :
Name :	Iyer Thomas And Sunney Chartered Accountants
Address :	GA Palmgrove, Vijo Bhavan Road, Thrikkakara, Ernakulam – 682021, Kerala, India
Tel. No.:	91-484-69467772
Mobile No.:	91-9447710230
Income-tax PAN of auditor or auditor's firm :	ABNPV9019N
Companies in which KMP can exercise significant influence :	· SFO Technologies Private Limited Marickar Plantations Nest Hi-Tek Park Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs. 100/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15,000	Equity Shares	Rs. 100/- each	Rs. 1.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.500	1.500	1.000
(b) Reserves & Surplus	(6.251)	(9.654)	(10.559)
(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)	(4.751)	(8.154)	(9.559)
(3) Non-Current Liabilities
(a) long-term borrowings	0.469	0.286	0.561
(b) Deferred tax liabilities (Net)	0.083	0.048	0.017
(c) Other long term liabilities	89.500	38.118	24.264
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	90.052	38.452	24.842
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	23.761	8.809	6.250
(c) Other current liabilities	75.943	55.012	25.752
(d) Short-term provisions	2.605	0.430	0.000
Total Current Liabilities (4)	102.309	64.251	32.002
TOTAL	187.610	94.549	47.285
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.268	2.852	3.052
(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	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	27.924	31.573	21.270
(e) Other Non-current assets	0.096	0.096	0.160
Total Non-Current Assets	31.288	34.521	24.482
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	50.432	26.859	19.324
(c) Trade receivables	78.566	28.011	0.000
(d) Cash and cash equivalents	0.414	0.360	0.199
(e) Short-term loans and advances	26.910	4.798	3.280
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	156.322	60.028	22.803
TOTAL	187.610	94.549	47.285

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	158.348	97.169
		Other Income	0.019	0.000
		TOTAL (A)	158.367	97.169	19.324
Less	EXPENSES
		Cost of Construction	154.899	87.624
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(23.573)	(7.535)
		Marketing Expenditure	8.576	7.436
		Employees benefits expense	6.455	3.822
		Other expenses	4.677	3.661
		TOTAL (B)	151.034	95.008	29.395
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		7.333	2.161	(10.071)
Less	FINANCIAL EXPENSES (D)		0.702	0.115	0.012
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		6.631	2.046	(10.083)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.019	0.681	0.428
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		5.612	1.365	(10.511)
Less	TAX (H)		2.209	0.460	0.017
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		3.403	0.905	(10.528)
	Earnings/ (Loss) Per Share (Rs.)		374.19	60.35	(1052.89)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.15	0.93	(54.48)
Net Profit Margin (PBT/Sales)	(%)	3.54	1.40	NA
Return on Total Assets (PBT/Total Assets}	(%)	2.99	1.44	(22.23)
Return on Investment (ROI) (PBT/Networth)		(1.18)	(0.17)	1.10
Debt Equity Ratio (Total Debt/Networth)		(0.10)	(0.04)	(0.06)
Current Ratio (Current Asset/Current Liability)		1.53	0.93	0.71

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	1.000	1.5000	1.500
Reserves & Surplus	(10.559)	(9.654)	(6.251)
Net worth	(9.559)	(8.154)	(4.751)
long-term borrowings	0.561	0.286	0.469
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.561	0.286	0.469
Debt/Equity ratio	(0.059)	(0.035)	(0.099)

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 Income	19.324	97.169	158.367
		402.841	62.981

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 Income	19.324	97.169	158.367
Profit/ (Loss)	(10.528)	0.905	3.403
	(54.48%)	0.93%	2.15%

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	--
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

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

CORPORATE INFORMATION

Subject is engaged in the business of developing infrastructure projects. Currently, the company is undergoing development of projects in Ernakulam and Kottayam.

FIXED ASSETS:

· Office Premises

Vehicles

Office Equipments

Softwares

Computer

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. 62.07
UK Pound	1	Rs. 103.61
Euro	1	Rs. 85.03

INFORMATION DETAILS

Information Gathered by :	HTL
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		13

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.