MIRA INFORM REPORT

Report Date :

10.11.2014

IDENTIFICATION DETAILS

Name :	WORLDS WINDOW INFRASTRUCTURE AND LOGISTICS PRIVATE LIMITED
Registered Office :	75, Khirki Village, Malviya Nagar, New Delhi – 110017
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.05.2006
Com. Reg. No.:	11-149207
Capital Investment / Paid-up Capital :	Rs. 137.013 Millions
CIN No.: [Company Identification No.]	U74996DL2006PTC149207
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in Domestic Freight Handling and Transportation, Specialized Warehousing, Value Added Services, etc.
No. of Employees :	1200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 3432000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. The rating reflects company’s high operational efficiency marked by comfortable financial profile and decent liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities: “A-”
Rating Explanation	Adequate degree of safety and low credit risk.
Date	24.10.2014

Rating Agency Name	CARE
Rating	Short term bank facilities: “A2+”
Rating Explanation	Strong degree of safety and low credit risk.
Date	24.10.2014

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 31-03-2014.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Varun
Designation :	Chief Executive Officer
Contact No.:	91-9818870077
Date :	07.11.2014

LOCATIONS

Registered Office :	75, Khirki Village, Malviya Nagar, New Delhi – 110017, India
Tel. No. :	91-11-41046034
Mobile No. :	91-9312277066 (Mr. Dhirendra) 91-9818870077 (Mr. Varun)
Fax No. :	91-11-29545475
E-Mail :	cs@worldswindow.cc dkishore@icdloni.com varun.bhasin@icdloni.com
Website :	www.icdloni.com
Corporate Office :	E-40/3, Okhla Ind. Area, Phase-II, New Delhi – 110020, India
Tel. No. :	91-11-43122777/ 43122716/ 715
Fax No. :	91-11-431228888/ 66173500
Terminal Office :	Banthala Chirori Loni, Ghaziabad - 201102, Uttar Pradesh, India
Tel. No. :	91-120-2817614

DIRECTORS

As on 30.09.2013

Name :

Mr. Krishnakumar Gangadharan

Designation :

Director

Address :

6, Sobhana Ghosala Road, Mulund (West), Mumbai - 400080, Maharastra, India

Date of Birth/Age :

28.09.1971

Date of Appointment :

30.09.2013

PAN No.:

AFBPG4014L

DIN No. :

00090715

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	U26942AS2004PLC007538	CALCOM CEMENT INDIA LIMITED	Nominee director	21-12-2005	21-12-2005	30-11-2007	Active	NO
2	U45200DL2000PLC151199	PIPAVAV RAILWAY CORPORATION LIMITED	Alternate director	02-11-2006	02-11-2006	05-02-2007	Active	NO
3	U40200UP2005PLC029538	CENTRAL U.P. GAS LIMITED	Director	22-12-2006	22-12-2006	21-06-2013	Active	NO
4	L74210TG1994PLC017356	RAMKY INFRASTRUCTURE LIMITED	Alternate director	21-03-2008	22-12-2006	26-06-2008	Active	NO
5	U45203MH1997PLC108251	PETRONET INDIA LIMITED	Director	27-07-2007	23-02-2007	-	Active	NO
6	U74996DL2006PTC149207	WORLDS WINDOW INFRASTRUCTURE AND LOGISTICS PRIVATE LIMITED	Director	30-09-2013	09-02-2008	-	Active	NO
7	L92490DL2007PLC165673	DEN NETWORKS LIMITED	Alternate director	25-03-2010	28-08-2008	-	Active	NO
8	U11102PN2006PLC021839	MAHARASHTRA NATURAL GAS LIMITED	Nominee director	29-04-2009	29-04-2009	-	Active	NO
9	U35110MH2000PLC127953	DIGHI PORT LIMITED	Alternate director	27-10-2010	27-10-2010	-	Active	NO
10	U40101TG1997PLC037013	KONASEEMA GAS POWER LIMITED	Additional director	01-02-2011	01-02-2011	-	Active	NO
11	U72300HR2008PTC038097	SYNIVERSE TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	25-05-2012	19-12-2011	-	Active	NO

Name :

Mr. Anil Kumar Misra

Designation :

Director

Address :

H. No. 227, PKT-C, SFS Flats, Sheikh Sarai Ph-I, New Delhi – 110017, India

Date of Birth/Age :

04.05.1972

Date of Appointment :

30.09.2013

DIN No. :

00113903

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	U63090DL2004PTC123819	MAPLE LOGISTICS PRIVATE LIMITED	Director	01-01-2004	01-01-2004	08-10-2007	Active	NO
2	U51909DL2006PTC145082	WORLDS WINDOW EXIM PRIVATE LIMITED	Director	19-01-2006	19-01-2006	05-10-2010	Active	NO
3	U45202DL1985PLC020056	MANGLAM APARTMENTS LIMITED	Director	16-05-2006	16-05-2006	23-08-2010	Active	NO
4	U70109DL2006PTC151350	WORLDS WINDOW DEVELOPERS PRIVATE LIMITED	Director	28-07-2006	28-07-2006	18-10-2010	Active	NO
5	U01403DL2008PTC177448	WORLDS WINDOW GREENFIELD PRIVATE LIMITED	Director	30-04-2008	30-04-2008	15-10-2010	Active	NO
6	U45400DL2008PTC179698	WORLDS WINDOW URJA PRIVATE LIMITED	Director	26-09-2013	18-06-2008	-	Active	NO
7	U45200DL2007PTC158702	SHREE G DEVELOPERS PRIVATE LIMITED	Director	29-01-2010	27-01-2009	-	Strike off	NO
8	U51909DL2004PTC126459	VASTUSTAR TRADING PRIVATE LIMITED	Additional director	18-03-2010	18-03-2010	23-08-2010	Active	NO
9	U51109DL1997PTC085138	WORLDS WINDOW IMPEX INDIA PRIVATE LIMITED	Director	15-03-2013	01-10-2010	-	Active	NO
10	U51101DL2007PTC163357	WORLDS WINDOW WARDHA INFRASTRUCTURE PRIVATE LIMITED	Director	25-09-2013	15-10-2010	23-06-2014	Active	NO
11	U51909DL2008PTC176155	WORLDS WINDOW TRADING PRIVATE LIMITED	Director	19-11-2010	19-11-2010	-	Active	NO
12	U10100DL2011PTC213669	DHARITRIMAA URJA PRIVATE LIMITED	Director	10-02-2011	10-02-2011	-	Active	NO
13	U10100DL2011PTC213722	VASUDHAMAA URJA PRIVATE LIMITED	Director	10-02-2011	10-02-2011	-	Active	NO
14	U63000DL2011PTC216566	KANDLA INFRADEVELOPERS PRIVATE LIMITED	Director	25-03-2011	25-03-2011	-	Active	NO
15	U74996DL2006PTC149207	WORLDS WINDOW INFRASTRUCTURE AND LOGISTICS PVT LTD	Director	30-09-2013	06-06-2011	-	Active	NO
16	U55101DL2011PTC225501	GRANDE CASTELLO PRIVATE LIMITED	Director	26-09-2011	26-09-2011	-	Active	NO
17	U51909DL2011PTC228884	MAGNIFICO MINERALS PRIVATE LIMITED	Director	26-09-2013	14-05-2012	-	Active	NO
18	U51909DL2012PTC239450	WORLDS WINDOW ECOTRADE PRIVATE LIMITED	Director	27-07-2012	27-07-2012	-	Active	NO
19	U45400DL2013PTC259376	LADRILLO INFRASTRUCTURE PRIVATE LIMITED	Director	21-10-2013	21-10-2013	-	Active	NO

Name :

Mr. Rajiv Kumar Kochhar

Designation :

Director

Address :

KG-1/276, Vikaspuri, New Delhi – 110018, India

Date of Birth/Age :

21.08.1954

Date of Appointment :

30.09.2013

PAN No. :

AEBPK9660B

DIN No. :

03245407

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	U74996DL2006PTC149207	WORLDS WINDOW INFRASTRUCTURE AND LOGISTICS PVT LTD	Director	30-09-2013	15-11-2010	-	Active	NO
2	U60230DL2007PTC166980	SANJVIK TERMINALS PRIVATE LIMITED	Director	11-08-2011	11-08-2011	04-06-2014	Active	NO

Name :

Mr. Varun Bhasin

Designation :

Director

Address :

J-7/142,Rajouri Gdn (Garden), New Delhi – 110027, India

Date of Birth/Age :

19.11.1979

Date of Appointment :

30.09.2013

PAN No. :

AGWPB9919P

DIN No. :

03262761

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	U70101DL2006PTC145081	WORLDS WINDOW ESTATE PRIVATE LIMITED	Director	19-09-2013	01-10-2010	-	Active	NO
2	U70109DL2006PTC151469	VEDANSH REAL ESTATE PRIVATE LIMITED	Director	20-09-2013	04-10-2010	20-09-2014	Active	NO
3	U45400DL2007PTC163479	LONI BUILDERS PRIVATE LIMITED	Director	19-09-2013	15-10-2010	-	Active	NO
4	U51101DL2007PTC163227	VEDANSH BUILDERS PRIVATE LIMITED	Director	15-10-2010	15-10-2010	-	Active	NO
5	U51101DL2007PTC163357	WORLDS WINDOW WARDHA INFRASTRUCTURE PRIVATE LIMITED	Director	25-09-2013	15-10-2010	-	Active	NO
6	U74996DL2006PTC149207	WORLDS WINDOW INFRASTRUCTURE AND LOGISTICS PVT LTD	Director	30-09-2013	02-08-2011	-	Active	NO
7	U60230DL2007PTC166980	SANJVIK TERMINALS PRIVATE LIMITED	Director	11-08-2011	11-08-2011	04-06-2014	Active	NO
8	U51909DL2006PTC145082	WORLDS WINDOW EXIM PRIVATE LIMITED	Director	19-09-2013	01-06-2012	14-07-2014	Active	NO
9	U01400DL2013PTC254201	RD KHAN AGRO PRIVATE LIMITED	Director	20-06-2013	20-06-2013	-	Active	NO

KEY EXECUTIVES

Name :	Sanjeeb Kumar Mishra
Designation :	Secretary
Date of Appointment :	01.06.2009
PAN No.:	AKBPM3596L

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Equity Shareholders	No. of Shares
Worlds Window Impex India Private Limited, India	10668188
Piyoosh Goyal	400
Mahesh Kumar Goyal	100
Pan Asia Infrastructure Asset Management Company Pte Limited, Singapore	1119472
Pan Asia Project Developmet Fund, India	1399340
Total	13187500

Names of Preference Shareholders	No. of Shares
Pan Asia Project Developmet Fund, India	272599
Pan Asia Infrastructure Asset Management Company Pte Limited, Singapore	218079
Worlds Window Impex India Private Limited, India	23121
Total	513799

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	8.88
Bodies corporate	91.10
Other top fifty shareholders	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in Domestic Freight Handling and Transportation, Specialized Warehousing, Value Added Services, etc.
Exports :	--
Imports :	--
Terms :
Selling :	Cash, Advance Payment and Credit
Purchasing :	Cash, Advance Payment and Credit

GENERAL INFORMATION

Suppliers :

--

Customers :

--

No. of Employees :

1200 (Approximately)

Bankers :

Punjab National Bank, ICD Loni, Ghaziabad, Uttar Pradesh, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	132.269	43.229
Rupee term loans from others	73.973	104.841
Other loans and advances, others	221.828	45.034
SHORT TERM BORROWINGS
Working capital loans from banks	19.369	19.549
Total	447.439	212.653

Banking Relations :	--
Financial Institution :	SREI Equipment Finance Private Limited, 'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India
Auditors :
Name :	N.M. Raiji and Company Chartered Accountants
Address :	E-7/14, Vasant Vihar, Delhi, India
Income-tax PAN of auditor or auditor's firm :	AAAFN4217G
Holding Company:	Worlds Window Impex India Private Limited, India CIN No.: U51109DL1997PTC085138
Fellow Subsidiary Company :	Worlds Window Wardha Infrastructure Private Limited CIN No.: U51101DL2007PTC163357
Associate :	Sanjvik Terminals Private Limited CIN No.: U60230DL2007PTC166980
Subsidiary Company :	· Worlds Window Developers Private Limited CIN No.: U70109DL2006PTC151350 · Worlds Window Estate Private Limited CIN No.: U70101DL2006PTC145081 · Worlds Window Exim Private Limited CIN No.: U51909DL2006PTC145082 · Worlds Window Greenfield Private Limited CIN No.: U01403DL2008PTC177448 · Worlds Window Farming Private Limited CIN No.: U01111DL2008PTC177446 · Vedansh Developers Private Limited CIN No.: U70109DL2006PTC150976 · Vedansh Real Estate Private Limited CIN No.: U70109DL2006PTC151469 · Seagull Maritime Agencies Private Limited CIN No.: U63000DL1998PTC225187

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
14,000,000	Equity Shares	Rs.10/- each	Rs. 140.000 Millions
1,000,000	Preference Shares	Rs.10/- each	Rs. 10.000 Millions
	Total		Rs. 150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13,187,500	Equity Shares	Rs.10/- each	Rs. 131.875 Millions
513,799	Preference Shares	Rs.10/- each	Rs. 5.138 Millions
13,701,299
	Total		Rs. 137.013 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	137.013	137.013	137.013
(b) Reserves & Surplus	1064.198	918.474	692.943
(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)	1201.211	1055.487	829.956
(3) Non-Current Liabilities
(a) long-term borrowings	428.071	193.105	221.828
(b) Deferred tax liabilities (Net)	52.990	48.688	50.456
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	7.441	2.982	1.813
Total Non-current Liabilities (3)	488.502	244.775	274.097
(4) Current Liabilities
(a) Short term borrowings	19.368	19.548	7.473
(b) Trade payables	67.490	70.244	52.393
(c) Other current liabilities	162.799	134.775	122.511
(d) Short-term provisions	11.711	16.549	14.364
Total Current Liabilities (4)	261.368	241.116	196.741
TOTAL	1951.081	1541.378	1300.794
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	509.873	475.549	473.157
(ii) Intangible Assets	23.700	27.932	2.440
(iii) Capital work-in-progress	272.666	40.780	22.483
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	400.171	398.947	324.651
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	363.706	283.227	294.573
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1570.116	1226.435	1117.304
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	8.193	6.829	5.686
(c) Trade receivables	116.616	80.610	64.888
(d) Cash and cash equivalents	41.916	63.203	59.986
(e) Short-term loans and advances	214.240	164.301	50.626
(f) Other current assets	0.000	0.000	2.304
Total Current Assets	380.965	314.943	183.490
TOTAL	1951.081	1541.378	1300.794

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		TOTAL	607.132	572.217	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		150.027	156.182	NA
Less	TAX		4.302	(69.348)	NA
	PROFIT/ (LOSS) AFTER TAX		145.725	225.530	101.951
	Earnings / (Loss) Per Share (Rs.)		10.64	16.46	7.44

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	11.74	14.18	NA
Return on Investment (ROI) (PBT/Networth)		0.12	0.15	NA
Debt Equity Ratio (Total Debt/Networth)		0.37	0.20	0.28
Current Ratio (Current Asset/Current Liability)		1.46	1.31	0.93

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	137.013	137.013	137.013
Reserves & Surplus	692.943	918.474	1064.198
Net worth	829.956	1055.487	1201.211
long-term borrowings	221.828	193.105	428.071
Short term borrowings	7.473	19.548	19.368
Total borrowings	229.301	212.653	447.439
Debt/Equity ratio	0.276	0.201	0.372

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	572.217	607.132
		6.102

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	572.217	607.132
Profit	225.530	145.725
	39.41%	24.00%

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 tow 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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

CONTINGENT LIABILITIES (AS ON 31.03.2013)

a) Bank Guarantees executed in favour of The President of India through the Commissioner of Customs, Central Warehouse Corporation 57.686 Millions (Previous Year Rs 56.470 Millions)

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Leasehold Improvements

· Bridges Roads Ports Culverts

· Railway Sidings

Intangible Assets

· Computer Software

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.61.52
UK Pound	1	Rs.97.39
Euro	1	Rs.76.16

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAR
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--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		52

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.