MIRA INFORM REPORT

Report Date :

19.11.2014

IDENTIFICATION DETAILS

Name :	AFRICA VIEW PRIVATE LIMITED (w.e.f 13.08.2008)
Formerly Known As :	JAI DADA VEG OILS PRIVATE LIMITED
Registered Office :	B2/401,Marathon Next Gen Innova, Opposite Peninsula Corporate Park, Off. G. Kadam Marg, Lower Parel (West), Mumbai – 400013, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	24.08.2007
Com. Reg. No.:	11-173419
Capital Investment / Paid-up Capital :	Rs. 14.313
CIN No.: [Company Identification No.]	U72900MH2007PTC173419
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Divulged
PAN No.: [Permanent Account No.]	Not Divulged
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Agro Products.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 170000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. As per registrar of companies the date of Balance Sheet (i.e. financial filed) is shown as 31.03.2013 but documents related to financial are not available for any source. As per available financial of 2012, the company has taken huge external borrowing which acts as threating to the liquidity position of the company. As per the status in the registrar of companies business appears to be active. Payments are reported to be unknown. The company can be considered for business dealing with great caution.

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.

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

Name :

Designation :

Contact No.:

Date :

LOCATIONS

Registered Office :	B2/401,Marathon Next Gen Innova, Opposite Peninsula Corporate Park, Off. G. Kadam Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	stulshyan@gmail.com amitsafi@africaview.in

DIRECTORS

As on 30.09.2013

Name :

Mr. Rajesh Dharamchand Shrishrimal

Designation :

Director

Address :

Ghandhi Chowk,, Mahasamund, 493445, Chhattisgarh, India

Date of Birth/Age :

12.10.1960

Date of Appointment :

01.08.2011

DIN No.:

00598845

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	L15143MH1987PLC042533	PRIME SOLVENT EXTRACTIONS LIMITED	Managing director	24/10/1989	24/10/1989	01/04/2013	Active	NO
2	U00659CT1996PTC011276	CRYSTAL RESOURCES PRIVATE LIMITED	Director	30/09/1996	30/09/1996	22/08/2014	Active In Progress	NO
3	U91110WB1957NPL023474	SHELLAC AND FOREST PRODUCTS EXPORT PROMOTION COUNCIL	Director	02/06/2009	02/06/2009	28/09/2012	Active	NO
4	U72900MH2007PTC173419	AFRICA VIEW PRIVATE LIMITED	Director	01/08/2011	01/08/2011	-	Active	NO
5	U15122MH2012PTC232222	T F FOOD PRIVATE LIMITED	Director	15/06/2012	15/06/2012	-	Active	NO

Name :

Ms. Kavita Devi Shrishrimal

Designation :

Director

Address :

Ghandhi Chowk,, Mahasamund, 493445, Chhattisgarh, India

Date of Birth/Age :

05.04.1968

Date of Appointment :

22.07.2008

DIN No.:

00716995

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	U01122CT1991PTC006765	VAISHALI HORTICULTURE PVT LTD	Director	14/11/1991	14/11/1991	-	Active	NO
2	U01122CT1991PTC006717	PRAGATI KRISHI PVT LTD	Director	18/02/2000	18/02/2000	05/07/2011	Active	NO
3	U01122CT1991PTC006810	JAIN PLANTATION PVT.LTD.	Director	18/02/2000	18/02/2000	-	Active	NO
4	U01122CT1991PTC006809	GEETANJALI AGRO PVT. LTD.	Director	05/10/2000	05/10/2000	-	Active	NO
5	U51101CT2002PTC014941	RISHABH NUTRIENTS PRIVATE LIMITED	Director	16/01/2002	16/01/2002	-	Active	NO
6	U72900MH2007PTC173419	AFRICA VIEW PRIVATE LIMITED	Director	22/07/2008	22/07/2008	17/10/2014	Active	NO

Name :

Mr. Rishabh Shrishrimal

Designation :

Director

Address :

Ghandhi Chowk,, Mahasamund, 493445, Chhattisgarh, India

Date of Birth/Age :

22.05.1990

Date of Appointment :

02.04.2012

DIN No.:

02660771

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	U72900MH2007PTC173419	AFRICA VIEW PRIVATE LIMITED	Director	02/04/2012	21/05/2009	-	Active	NO
2	U51900MH1999PTC120903	GAJSHAKTI AGROTECH PRIVATE LIMITED	Director	01/10/2009	01/10/2009	02/11/2009	Active	NO
3	U70100CT2010PTC021790	ORCHARD REALTIES PRIVATE LIMITED	Director	06/05/2010	06/05/2010	-	Active	NO
4	U01122CT2006PTC018295	RITURAJAGROTEK PRIVATE LIMITED	Director	01/10/2010	01/10/2010	-	Active	NO
5	U15400MH2011PTC213340	EXOTIC AND SPECIALITY FATS PRIVATE LIMITED	Director	11/02/2011	11/02/2011	21/06/2013	Active	NO
6	U01122CT1991PTC006717	PRAGATI KRISHI PVT LTD	Director	05/07/2011	05/07/2011	20/08/2011	Active	NO
7	U92490MH2011PTC220285	ENCORE FITNESS PRIVATE LIMITED	Director	29/07/2011	29/07/2011	-	Active	NO
8	U15122MH2012PTC232222	T F FOOD PRIVATE LIMITED	Director	15/06/2012	15/06/2012	-	Active	NO
9	U74900MH2012PTC236622	ARABESQUE MERCANTILE PRIVATE LIMITED	Director	09/10/2012	09/10/2012	25/06/2013	Active	NO
10	U01403CT2013PTC000763	BALDAKACCHAR AGRICULTURE PROJECTS PRIVATE LIMITED	Director	21/03/2013	21/03/2013	18/10/2013	Active	NO
11	U01122CT2013PTC000772	BALDAKACCHAR HORTICULTURE PRIVATE LIMITED	Director	01/04/2013	01/04/2013	11/10/2013	Active	NO
12	U01403CT2013PTC000775	BALDAKACCHAR AGRI LAND DEVELOPERS PRIVATE LIMITED	Director	02/04/2013	02/04/2013	11/10/2013	Active	NO
13	U52397CT2013PTC000802	BALDAKACCHAR AGRO VENTURES PRIVATE LIMITED	Director	11/04/2013	11/04/2013	-	Active	NO
14	U52100MH2013PTC248911	VENDIMAN SNACKING SOLUTIONS PRIVATE LIMITED	Director	24/09/2014	28/11/2013	-	Active	NO
15	U93030MH2012PTC238917	ADDNECTAR SOLUTIONS PRIVATE LIMITED	Director	24/09/2014	10/06/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	% of holding
Mr. Rajesh Dharamchand Shrishrimal	329500	23.02
Ms. Shweta Shrishrimal	91000	6.36
Ms. Kavita Devi Shrishrimal	279500	19.53
Ms. Nirmaladevi Shrishrimal	50000	3.49
Vaishali Horticulture Private Limited, India	100000	6.99
Jain plantation Private Limited, India	50000	3.49
Pragati Krishi Private Limited, india	100000	6.99
Geetanjali Agro Private Limited, india	100000	6.99
Mr. Rishabh Shrishrimal	231250	16.16
Ms. Rishika Shrishrimal, india	100000	6.99
Total	1431250	100.00

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	24.45
Directors or relatives of Directors	75.55
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Agro Products.
Products :	Not Divulged
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Not Divulged

Bankers :

Banker Name	HDFC Bank Limited
Branch Address	HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2012	As on 31.03.2011
Long Term Borrowing
From Bank
HDFC Car Loan 1	0.773	1.399
HDFC Car Loan 2	0.446	0.639
HDFC Car Loan 3	3.505	0.000
	4.724
Short Term Borrowing
From Bank
Export Packing Credit	2.482	22.926
Cash Credit Limit	112.292	0.000
Total	119.828	25.164

Banking Relations :	---
Auditors :
Name :	GMJ and Company Chartered Accountant
Address :	3^rd and 4^th Floor, Vaastu Darshan, B Wing, Above Central Bank, Azad Road, Andheri (East), Mumbai – 400069, Maharashtra-, India
Tel. No.:	91-22-61719293/ 222/ 200
Fax No.:	91-22-26642221/ 61919256
E-Mail :	admin@gmj.co.in info@gmj.co.in
PAN No.:	AAAFG2163L
Memberships :	Not Divulged
Collaborators :	Not Divulged
Associates :	Geetanjali Agro Private Limited Crystal Resources Private Limited K. N. Oil Industries Private Limited K. N. Oil Industries Rishabh Nutirents Private Limited Vaishai Horticulture Private Limited Jain Plantation Private Limited Global Enterprises

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 Millions

Isued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1431250	Equity Shares	Rs.10/- each	Rs. 14.313 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	14.313	10.000
(b) Reserves & Surplus	46.743	7.156
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	61.056	17.156
(3) Non-Current Liabilities
(a) long-term borrowings	209.474	8.338
(b) Deferred tax liabilities (Net)	0.000	0.081
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	209.474	8.419
(4) Current Liabilities
(a) Short term borrowings	175.153	63.680
(b) Trade payables	9.175	103.646
(c) Other current liabilities	12.187	7.349
(d) Short-term provisions	5.925	1.125
Total Current Liabilities (4)	202.440	175.800
TOTAL	472.970	201.375
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	26.073	22.750
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	1.234	1.646
(c) Deferred tax assets (net)	0.040	0.000
(d) Long-term Loan and Advances	3.433	0.000
(e) Other Non-current assets	0.125	0.092
Total Non-Current Assets	30.905	24.488
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	154.998	0.000
(c) Trade receivables	7.287	132.709
(d) Cash and cash equivalents	3.686	2.314
(e) Short-term loans and advances	276.094	41.864
(f) Other current assets	0.000	0.000
Total Current Assets	442.065	176.887
TOTAL	472.970	201.375

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		10.000
2] Share Application Money		0.000
3] Reserves & Surplus		3.976
4] (Accumulated Losses)		0.000
NETWORTH		13.976
LOAN FUNDS
1] Secured Loans		32.853
2] Unsecured Loans		19.126
TOTAL BORROWING		51.979
DEFERRED TAX LIABILITIES		0.097
TOTAL		66.052
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		24.180
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15.269
	Sundry Debtors	27.656
	Cash & Bank Balances	5.520
	Other Current Assets	0.000
	Loans & Advances	35.597
Total Current Assets		84.042
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	40.344
	Provisions	1.826
Total Current Liabilities		42.170
Net Current Assets		41.872
MISCELLANEOUS EXPENSES		0.000
TOTAL		66.052

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	428.779	480.228	402.305
		Other Income	3.189	1.832	3.280
		TOTAL	431.968	482.060	405.585
Less	EXPENSES
		Purchases of Stock-in-Trade	533.323	421.009	385.084
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(154.998)	15.269	0.000
		Employees benefits expense	1.685	2.179	0.000
		Other expenses	17.327	31.001	14.646
		TOTAL (B)	397.337	469.458	399.730
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		34.631	12.602	5.855
Less	FINANCIAL EXPENSES		17.125	4.908	2.598
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		17.506	7.694	3.257
Less/ Add	DEPRECIATION/ AMORTISATION		3.427	2.888	1.456
	PROFIT BEFORE TAX		14.079	4.806	1.801
Less	TAX		4.680	1.627	0.565
	PROFIT AFTER TAX		9.399	3.179	1.236
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	246.229	133.027	144.602
	TOTAL EARNINGS		246.229	133.027	144.602
	TOTAL IMPORTS		178.679	182.752	310.581
	Earnings Per Share (Rs.)		6.57	3.18	1.31

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PAT/Sales)	(%)	2.19	0.66	0.31
Operating Profit Margin (PBDIT / Sales)	(%)	8.08	2.62	1.46
Return on Total Assets (PBT/Total Assets}	(%)	2.98	2.41	2.14
Return on Investment (ROI) (PBT/Networth)		0.23	0.28	0.13
Debt Equity Ratio (Total Debt /Networth)		6.30	4.20	3.72
Current Ratio (Current Asset/Current Liability)		2.18	1.01	1.99

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	10.000	10.000	14.313
Reserves & Surplus	3.976	7.156	46.743
Net worth	13.976	17.156	61.056
long-term borrowings	32.853	8.338	209.474
Short term borrowings	19.126	63.680	175.153
Total borrowings	51.979	72.018	384.627
Debt/Equity ratio	3.719	4.198	6.300

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	402.305	480.228	428.779
		19.369	(10.713)

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	402.305	480.228	428.779
Profit	1.236	3.179	9.399
	0.31%	0.66%	2.19%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	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	No

Note:

Register address of the company has been shifted from B/ 2103, Gokul Gagan Chs, Thakur Village, Kandivali (East), Mumbai - 400101, Maharashtra, India to the present address w.e.f 01.01.2010

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2012	As on 31.03.2011
Long Term Borrowing
Loan from Related Party	204.750	6.300
Short Term Borrowing
Loans and Advances from Related Parties	60.378	40.754
Total	265.128	47.054

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10490663	31/03/2014	14,370,000.00	RELIANCE CAPITAL LTD	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 4007  10, INDIA	C03914389
2	10360113	21/05/2012	45,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B41418427
3	10200068	22/05/2013 *	206,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B75609867

* Date of charge modification

OPERATIONS:

The Company performed well and achieved a total income of Rs. 431.968 Millions as against Rs. 482.060 Millions for the previous year and in terms of profitability the Company has performed well and after tax profit stood at Rs. 9.399 Millions as against Rs. 3.180 Millions for the previous year.

FIXED ASSETS

• Office Building
• Furniture and Fixtures
• Office Equipment
• Computer and Computer Software
• Motor Car

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. 61.80
UK Pound	1	Rs. 97.76
Euro	1	Rs. 77.09

INFORMATION DETAILS

Information Gathered by :
Analysis Done by :	KAR
Report Prepared by :	KLS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.