MIRA INFORM REPORT

Report Date :

08.03.2014

IDENTIFICATION DETAILS

Name :	SANT VALVES PRIVATE LIMITED
Registered Office :	G T Road, Bye Pass, Near Pathankot Chowk, Jalandhar - 144012, Punjab
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	24.11.1992
Com. Reg. No.:	16-012760
Capital Investment / Paid-up Capital :	Rs. 15.000 Millions
CIN No.: [Company Identification No.]	U27202PB1992PTC012760
TAN No.: [Tax Deduction & Collection Account No.]	JLDS00272G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Valves Cocks, Boiler Mountings, Pipes Fittings, Pumps, etc.
No. of Employees :	420 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 240000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. However, trade relations are reported to be fair. Business is active. Payments are reported to be usually correct. The company can be considered normal for business dealing at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

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

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. Ravi
Designation :	Account Executive
Contact No.:	91-181-2602522
Date :	03.03.2014

LOCATIONS

Registered Office :	G T Road, Bye Pass, Near Pathankot Chowk, Jalandhar - 144012, Punjab, India
Tel. No.:	91-181-5084693/ 94/95/ 2602522/ 2603074/ 2602106
Mob. No.:	91-9814061478 (Mr. Rajesh Rathore)
Fax No.:	91-181-2603308/ 5062270
E-Mail :	svpl@gla.vsnl.net.in csankitgandhi@gmail.com
Website :	www.santvalves.com
Area :	1700 sq ft
Location :	Owned

DIRECTORS

As on 30.09.2013

Name :

Mr. Rakesh Rathour

Designation :

Director

Address :

20-Deen Dayal Upadhaya Nagar, Jalandhar - 144004, Punjab, India

Date of Birth/Age :

28.05.1959

Date of Appointment :

24.11.1992

DIN No.:

00083108

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	U55101HP1992PTC012212	SHEDAR PROPERTIES PRIVATE LIMITED	Managing director	23/04/1992	23/04/1992	-	Active	NO
2	U27202PB1992PTC012760	SANT VALVES PRIVATE LIMITED	Director	24/11/1992	24/11/1992	-	Active	NO
3	U27320PB1992PTC012759	PROXIMA STEEL FORGE PRIVATE LIMITED	Managing director	24/11/1992	24/11/1992	09/03/2011	Active	NO
4	U51101PB1994PTC014388	TGR DISTRIBUTORS PRIVATE LIMITED	Managing director	29/03/1994	29/03/1994	-	Strike off	NO
5	U00000PB2005PTC028468	T.G.R. INDUSTRIES PRIVATE LIMITED	Managing director	27/05/2005	27/05/2005	-	Active	NO
6	U36100PB2010PTC033625	BIG INDUSTRIAL ORGANICS PRIVATE LIMITED	Director	19/02/2010	19/02/2010	-	Active	NO
7	U51909PB2010PTC034030	SANT INTERNATIONAL PRIVATE LIMITED	Director	20/08/2010	20/08/2010	-	Active	NO

Name :

Mr. Rajesh Rathour

Designation :

Director

Address :

20-Deen Dayal Upadhaya Nagar, Jalandhar - 144004, Punjab, India

Date of Birth/Age :

20.04.1961

Date of Appointment :

01.05.1995

DIN No.:

00083153

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	U27320PB1992PTC012759	PROXIMA STEEL FORGE PRIVATE LIMITED	Director	24/11/1992	24/11/1992	09/03/2011	Active	NO
2	U27202PB1992PTC012760	SANT VALVES PRIVATE LIMITED	Director	01/05/1995	01/05/1995	-	Active	NO
3	U51101PB1994PTC014388	TGR DISTRIBUTORS PRIVATE LIMITED	Director	01/05/1995	01/05/1995	-	Strike off	NO
4	U51909PB2010PTC034030	SANT INTERNATIONAL PRIVATE LIMITED	Director	18/06/2010	18/06/2010	-	Active	NO

Name :

Mr. Naresh Kumar

Designation :

Director

Address :

62-Seth Hukum Chand Colony, Jalandhar - 144004, Punjab, India

Date of Birth/Age :

06.01.1964

Date of Appointment :

01.05.1995

DIN No.:

00328418

Name :

Mr. Arvind Rup Singh Dhumal

Designation :

Director

Address :

Village Paragpur Backside Domeli Industries, Jalandhar Phagwara National Highway, Jalandhar Cantonment, Punjab, India

Date of Birth/Age :

05.02.1970

Date of Appointment :

01.04.2006

Pan No :

AAKPD6542J

DIN No.:

00328543

Name :

Mr. Rup Singh Dhumal

Designation :

Managing Director

Address :

Village Paragpur Backside Domeli Industries, Jalandhar Phagwara National Highway, Jalandhar Cantonment, Punjab, India

Date of Birth/Age :

02.02.1936

Date of Appointment :

24.11.1992

DIN No.:

00618353

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	U27202PB1992PTC012760	SANT VALVES PRIVATE LIMITED	Managing director	24/11/1992	24/11/1992	-	Active	NO
2	U51909PB2010PTC034030	SANT INTERNATIONAL PRIVATE LIMITED	Managing director	18/06/2010	18/06/2010	-	Active	NO

Name :

Mr. Mukesh Rathour

Designation :

Director

Address :

31, Garha Road, Hardiyal Nagar, Urban Estate, Phase-1, Jalandhar – 144004, Punjab, India

Date of Birth/Age :

08.10.1967

Date of Appointment :

01.05.1995

DIN No.:

00618421

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	U27202PB1992PTC012760	SANT VALVES PRIVATE LIMITED	Director	01/05/1995	01/05/1995	-	Active	NO
2	U51909PB2010PTC034030	SANT INTERNATIONAL PRIVATE LIMITED	Director	18/06/2010	18/06/2010	-	Active	NO

Name :

Mr. Pawan Sikka

Designation :

Director

Address :

449-Guru Teg Bahadur Nagar, Jalandhar - 144004, Punjab, India

Date of Birth/Age :

01.02.1958

Date of Appointment :

01.08.2004

DIN No.:

00618452

Name :

Mr. Arun Singh Dhumal

Designation :

Director

Address :

Village Paragpur Backside Domeli Industries, Jalandhar Phagwara National Highway, Jalandhar Cantonment, Punjab, India

Date of Birth/Age :

25.08.1975

Date of Appointment :

01.10.2002

DIN No.:

00618461

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	U27202PB1992PTC012760	SANT VALVES PRIVATE LIMITED	Director	01/10/2002	01/10/2002	-	Active	NO
2	U67200PB2003PLC025925	NOVELTY INSURANCE BROKERS LIMITED	Director	10/08/2006	10/08/2006	14/04/2009	Active	NO
3	U92411HP2005NPL031707	HIMACHAL PRADESH CRICKET ASSOCIATION	Director	31/08/2012	31/08/2012	-	Active	NO

Name :

Mr. Praveen Sukh Ram Rathour

Designation :

Director

Address :

46, Deen Dayal Upadhaya Nagar, Jalandhar - 144004, Punjab, India

Date of Birth/Age :

30.04.1969

Date of Appointment :

01.04.2006

Pan No :

AALPR1419F

DIN No.:

00618464

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	U55101HP1992PTC012212	SHEDAR PROPERTIES PRIVATE LIMITED	Director	23/04/1992	23/04/1992	01/01/2009	Active	NO
2	U27202PB1992PTC012760	SANT VALVES PRIVATE LIMITED	Director	01/04/2006	01/04/2006	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ravi
Designation :	Account Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Rup Singh Dhumal	13500
Rakesh Rathour	15000
Rajesh Rathour	15000
Mukesh Rathour	8805
Naresh Kumar	13875
Raj Kumar	4338
Arun Singh Dhumal	4680
Pawan Sikka	8250
Vikram Rathour	9945
Sunil Sikka	4500
Praveen Rathour	20250
Vijay Kumar Chouhan	4500
Paramjit Kumar	9000
Arvind Dhumal	4500
Kavita Rathour	4107
Nipun Sikka	4500
Sonik Sikka	3000
Ravi Thakur	2250
Total	150000

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 :	Manufacturer and Exporter of Valves Cocks, Boiler Mountings, Pipes Fittings, Pumps, etc.
Products :	· Gunmetal Gate Valves · Bronze Safety Valves · Bronze Globe Steam Stop Valves · Bronze Sleeve Packed Water Level Gauge · Bronze Fusible Plug · Bronze Parallel Slide Blow Off Valve · Cast Iron Accessible Feed Check Valve · Cast Iron Y-Type Stainer
Exports :
Products :	Valves Cocks
Countries :	· Egypt · South Africa
Terms :
Selling :	Cash and Credit (30 and 60 days)
Purchasing :	Cash and Credit (30 and 60 days)

GENERAL INFORMATION

Customers :

End Users, Wholesalers and Retailers

· Reliance Energy

No. of Employees :

420 (Approximately)

Bankers :

· Capital Local Area Bank, Gobind Niwas, 36, G T Road, Jalandhar - 144001, Punjab, India

· State Bank of India, SCB, Tanda Road, Jalandhar - 144001, Punjab, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Term Loans
HDFC bank car loan	0.159	0.378
ICICI bank car loan	4.132	2.545
State bank of India	0.000	0.349
SHORT TERM BORROWINGS
Loan repayable on demand
State bank of India (CC bills)	2.196	2.273
State bank of India (CC stock)	19.773	16.434
State bank of India (SME A/C)	0.000	0.000
Total	26.260	21.979

Banking Relations :	--
Auditors :
Name :	K Bhagat and Company Chartered Accountants
Address :	16, Brij Nagar, Jalandhar-144001, Punjab, India
Tel. No.:	91-181-2282829 / 2212471
Mobile No.:	91-9814203435
Income-tax PAN of auditor or auditor's firm :	AACFK8406G
Memberships :	· EEPC · AIVCMA · NICC · ACCIP

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs. 100/-each	Rs. 15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs. 100/-each	Rs. 15.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	15.000	15.000	15.000
(b) Reserves & Surplus	45.253	51.388	43.293
(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)	60.253	66.388	58.293
(3) Non-Current Liabilities
(a) long-term borrowings	75.551	70.567	70.416
(b) Deferred tax liabilities (Net)	0.000	0.000	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)	75.551	70.567	70.416
(4) Current Liabilities
(a) Short term borrowings	21.969	18.707	22.715
(b) Trade payables	125.537	113.936	94.637
(c) Other current liabilities	2.828	2.641	2.268
(d) Short-term provisions	7.426	3.324	2.966
Total Current Liabilities (4)	157.760	138.608	122.586
TOTAL	293.564	275.563	251.295
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	65.904	60.676	59.553
(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	4.500	3.000	3.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	70.404	63.676	62.553
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	57.254	55.429	36.544
(c) Trade receivables	137.317	123.977	124.334
(d) Cash and cash equivalents	1.310	1.328	1.047
(e) Short-term loans and advances	27.279	31.153	26.817
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	223.160	211.887	188.742
TOTAL	293.564	275.563	251.295

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	396.642	377.896	331.771
		Other Income	0.481	0.509	29.088
		TOTAL	397.123	378.405	360.859
Less	EXPENSES
		TOTAL	388.538	370.311	351.640
	PROFIT/ (LOSS) BEFORE TAX		8.585	8.095	9.219
Less	TAX		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		8.585	8.095	9.219
	EARNINGS IN FOREIGN CURRENCY		1.661	1.985	0.000
	Earnings / (Loss) Per Share (Rs.)		57.23	53.97	61.46

Expected Sales (2013-2014): Rs. 400.000 Millions

The above information has been parted by Mr. Ravi (Account Executive).

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.16	2.14	2.55
Net Profit Margin (PBT/Sales)	(%)	2.16	2.14	2.78
Return on Total Assets (PBT/Total Assets}	(%)	2.97	2.97	3.71
Return on Investment (ROI) (PBT/Networth)		0.14	0.12	0.16
Debt Equity Ratio (Total Debt/Networth)		1.62	1.34	1.60
Current Ratio (Current Asset/Current Liability)		1.41	1.53	1.54

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	15.000	15.000	15.000
Reserves & Surplus	43.293	51.388	45.253
Net worth	58.293	66.388	60.253
Long-term borrowings	70.416	70.567	75.551
Short term borrowings	22.715	18.707	21.969
Total borrowings	93.131	89.274	97.520
Debt/Equity ratio	1.598	1.345	1.619

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	331.771	377.896	396.642
		13.903	4.961

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	331.771	377.896	396.642
Profit	9.219	8.095	8.585
	2.78%	2.14%	2.16%

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	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10436913	19/06/2013	10,000,000.00	CAPITAL LOCAL AREA BANK	GOBIND NIWAS, 36, GT ROAD, JALANDHAR - 144001, PUNJAB, INDIA	B79653937
2	10055091	18/05/2007	2,000,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	UPPER GROUND FLOOR, HOTEL CENTER POINT BUILDING, BMC CHOWK, JALANDHAR - 144001, PUNJAB, INDIA	A16444051
3	10025869	13/05/2013 *	75,000,000.00	STATE BANK OF INDIA	SCB, TANDA ROAD, JALANDHAR - 144001, PUNJAB, INDIA	B75707729
4	90183368	15/12/2004	1,224,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	SIDBI TOWER; 15, ASHOK NAGAR, LUCKNOW - 226001, UTTAR PRADESH, INDIA	-
5	90182427	06/04/1998 *	16,000,000.00	STATE BANK OF INDIA	INDSUTRIAL AREA, JALANDHAR, PUNJAB, INDIA	-
6	90182213	27/01/2003 *	2,200,000.00	STATE BANK OF INDIA	SPL. COMMERCIAL, TAUDA ROAD, JALANDHAR, PUNJAB, INDIA	-
7	90182170	02/04/2002 *	4,500,000.00	STATE BANK OF INDAI	SPL. COMMERCIAL BRANCH, INDUSTRIAL AREA, JALANDHAR, PUNJAB, INDIA	-
8	90182045	27/01/2003 *	4,500,000.00	STATE BANK OF INDIA	SPL. COMMERCIAL, TAUKDA ROAD, JALANDHAR, PUNJAB, INDIA	-
9	90181953	27/07/1994	2,500,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	VIKAS DEEP, 22; STATION ROAD, LUCKNOW - 226019, UTTAR PRADESH, INDIA	-
10	90181846	23/04/1996 *	2,200,000.00	STATE BANK OF INDIA	INDL. AREA, JALANDHAR, PUNJAB, INDIA	-
11	90179430	06/04/1998 *	13,000,000.00	STATE BANK OF INDIA	INDSUTRIAL AREA, JALANDHAR, PUNJAB, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Sundry Depositors	71.260	67.295
Total	71.260	67.295

FIXED ASSETS

· Plant and Machinery

· Generator Set

· Equipment

· Cars

· Patterns

· Induction Melting Furnace

· Safe, Furniture and Fixtures

· Cycle

· Scooter

· Building

· Land

· Computer

· Air Conditioner

· CCTV Camera

· Fan

· Photostat Machine

· Television

· Land (New)

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.60.99
UK Pound	1	Rs.102.07
Euro	1	Rs.84.53

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	MRI

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	5
--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	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		46

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.