MIRA INFORM REPORT

Report Date :

01.10.2014

IDENTIFICATION DETAILS

Name :	INDEL MONEY PRIVATE LIMITED (w.e.f. 09.01.2013)
Formerly Known As :	PAYAL HOLDINGS PRIVATE LIMITED
Registered Office :	Unit 302, Raheja Plaza Premises CHSL, Off Andheri Link Road, Andheri(West), Mumbai – 400053, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	11.09.1986
Com. Reg. No.:	11-040897
Capital Investment / Paid-up Capital :	Rs.39.856 Millions
CIN No.: [Company Identification No.]	U65990MH1986PTC040897
Legal Form :	Private Limited Liability Company
Line of Business :	Company provides a wide range of fund based and fee based services including gold loans, money transfer facilities etc.
No. of Employees :	110 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 103000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The company has incurred a loss from its operations during 2013. However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some 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 slowly 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	CRISIL
Rating	Long Term Rating = B+
Rating Explanation	Have high risk of default
Date	03.04.2014

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. Anantharaman Ramachandran Trikkur
Designation :	Director
Contact No.:	91-9539511111
Date :	29.09.2014

LOCATIONS

Registered Office :	Unit 302, Raheja Plaza Premises CHSL, Off Andheri Link Road, Andheri(West), Mumbai – 400053, Maharashtra, India
Tel. No.:	91-22-67989889
Mobile No.:	91-9539511111 (Mr. Anantharaman Ramachandran Trikkur)
Fax No.:	91-22-67989890
E-Mail :	cs@indelcorp.in operations@indelmoney.com
Website :	http://indelmoney.com
Factory :	No.IV/291/3, lst Floor, Trinity Building, Paravattani, Ollukkara, P. O. Thrissur – 680655, Kerala, India
Tel. No.:	91-487-2371233

Note: They have 32 branches located in Kerala, India.

DIRECTORS

As on 17.09.2013

Name :

Mr. Mohanan Gopalakrishnan

Designation :

Director

Address :

Dhannya, Kannadi P.O, Palghat DT - 678701, Kerala, India

Date of Appointment :

17.09.2013

DIN No.:

02456142

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	U74140KL2008PTC023423	UNI-LEADERS MANAGEMENT CONSULTANTS PRIVATE LIMITED	Director	01/10/2009	01/10/2009	08/07/2011	Active	NO
2	U70102KL2010PTC026517	DEVCON DEVELOPMENT AND CONSTRUCTION PRIVATE LIMITED	Managing director	09/08/2010	09/08/2010	-	Active	NO
3	U29119KL2007PTC021614	NAVEEN BHARATH EQUIPMENTS PRIVATE LIMITED	Managing director	01/02/2011	01/02/2011	-	Active	NO
4	U74900KL2011PTC028253	UM Ventures Private Limited	Managing director	28/04/2011	28/04/2011	-	Active	NO
5	U55101KL2011PTC029006	M-STAR Hotels Private Limited	Director	02/08/2011	02/08/2011	-	Active	NO
6	U93030MH2011PTC222709	INDEL AUTOMOTIVES PRIVATE LIMITED	Managing director	11/10/2011	04/10/2011	-	Active	NO
7	U65900MH2011PTC222836	INDEL CORPORATION PRIVATE LIMITED	Managing director	17/10/2011	10/10/2011	-	Active	NO
8	U74900KL2011PTC029538	M-Star Satellite Communications Private Limited	Managing director	25/10/2011	10/10/2011	-	Active	NO
9	U29100KL2011PTC029871	DEVCON EQUIPMENTS AND TOOLS PRIVATE LIMITED	Managing director	21/11/2011	21/11/2011	-	Active	NO
10	U65993KL2011PTC029973	UM Assets Private Limited	Director	05/12/2011	05/12/2011	-	Active	NO
11	U55101KL2012PTC030364	M-STAR HOTELS PALAKKAD PRIVATE LIMITED	Managing director	25/01/2012	25/01/2012	-	Active	NO
12	U55101KL2012PTC030423	M-STAR HERITAGE HOTELS PRIVATE LIMITED	Managing director	02/02/2012	02/02/2012	01/09/2014	Active	NO
13	U55101KL2012PTC031010	M-STAR HOTELS KODUVAYUR PRIVATE LIMITED	Managing director	16/04/2012	16/04/2012	-	Active	NO
14	U55101KL2012PTC031468	M-STAR HOTELS TRAVANCORE PRIVATE LIMITED	Managing director	19/06/2012	19/06/2012	-	Active	NO
15	U45200KL2012PTC031494	INDEL INFRA PRIVATE LIMITED	Managing director	21/06/2012	21/06/2012	-	Active	NO
16	U65990MH1986PTC040897	INDEL MONEY PRIVATE LIMITED	Managing director	17/09/2013	05/07/2012	-	Active	NO
17	U64200DL2008PTC175884	NAMAN BROADCASTINGS AND TELECOMMUNICATIONS PRIVATE LIMITED.	Additional director	09/02/2013	09/02/2013	-	Active	NO
18	U50300KL2013PTC033943	Indel Automotives Kochi Private Limited	Managing director	26/04/2013	26/04/2013	-	Active	NO
19	AAC-2685	M-STAR HOTELS GURUVAYUR LIMITED LIABILITY PARTNERSHIP	Body corporate as Designated Partner	22/04/2014	22/04/2014	-	Active	NO

Name :

Mr. Umesh Mohanan

Designation :

Director

Address :

Dhannya, Kannadi P.O, Palghat DT - 678701, Kerala, India

Date of Appointment :

17.09.2013

DIN No.:

02455902

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	U74140KL2008PTC023423	UNI-LEADERS MANAGEMENT CONSULTANTS PRIVATE LIMITED	Director	01/10/2009	01/10/2009	08/07/2011	Active	NO
2	U29119KL2007PTC021614	NAVEEN BHARATH EQUIPMENTS PRIVATE LIMITED	Director	01/02/2011	01/02/2011	-	Active	NO
3	U74900KL2011PTC028253	UM Ventures Private Limited	Director	28/04/2011	28/04/2011	-	Active	NO
4	U45200KL2011PTC028984	PLANEX PROJECTS AND CONSTRUCTIONS PRIVATE LIMITED	Director	29/07/2011	29/07/2011	-	Active	NO
5	U55101KL2011PTC029006	M-STAR Hotels Private Limited	Managing director	02/08/2011	02/08/2011	-	Active	NO
6	U93030MH2011PTC222709	INDEL AUTOMOTIVES PRIVATE LIMITED	Director	04/10/2011	04/10/2011	-	Active	NO
7	U74900KL2011PTC029538	M-Star Satellite Communications Private Limited	Director	10/10/2011	10/10/2011	-	Active	NO
8	U65900MH2011PTC222836	INDEL CORPORATION PRIVATE LIMITED	Director	10/10/2011	10/10/2011	-	Active	NO
9	U29100KL2011PTC029871	DEVCON EQUIPMENTS AND TOOLS PRIVATE LIMITED	Director	21/11/2011	21/11/2011	31/05/2014	Active	NO
10	U65993KL2011PTC029973	UM Assets Private Limited	Managing director	05/12/2011	05/12/2011	-	Active	NO
11	U55101KL2012PTC030364	M-STAR HOTELS PALAKKAD PRIVATE LIMITED	Director	25/01/2012	25/01/2012	-	Active	NO
12	U55101KL2012PTC030423	M-STAR HERITAGE HOTELS PRIVATE LIMITED	Director	02/02/2012	02/02/2012	01/09/2014	Active	NO
13	U22130TN2012PTC084527	RE-AVATAR MEDIA PRIVATE LIMITED	Director	17/02/2012	17/02/2012	-	Active	NO
14	U55101KL2012PTC031010	M-STAR HOTELS KODUVAYUR PRIVATE LIMITED	Director	16/04/2012	16/04/2012	-	Active	NO
15	L45209MH1985PLC035147	Delma Infrastructure Limited	Director	17/09/2012	07/06/2012	-	Active	NO
16	U55101KL2012PTC031468	M-STAR HOTELS TRAVANCORE PRIVATE LIMITED	Director	19/06/2012	19/06/2012	-	Active	NO
17	U45200KL2012PTC031494	INDEL INFRA PRIVATE LIMITED	Director	21/06/2012	21/06/2012	-	Active	NO
18	U74999TN2012PTC086604	Energetic Interiors Private Limited	Director	04/07/2012	04/07/2012	09/05/2014	Active	NO
19	U65990MH1986PTC040897	INDEL MONEY PRIVATE LIMITED	Director	17/09/2013	05/07/2012	-	Active	NO
20	U74900TN2012PTC086778	GLAM WORLD CELEBRITY SOLUTIONS PRIVATE LIMITED	Director	16/07/2012	16/07/2012	-	Active	NO
21	U64200DL2008PTC175884	NAMAN BROADCASTINGS AND TELECOMMUNICATIONS PRIVATE LIMITED.	Additional director	09/02/2013	09/02/2013	-	Active	NO
22	U50300KL2013PTC033943	Indel Automotives Kochi Private Limited	Director	26/04/2013	26/04/2013	-	Active	NO
23	AAC-2685	M-STAR HOTELS GURUVAYUR LIMITED LIABILITY PARTNERSHIP	Designated Partner	22/04/2014	22/04/2014	-	Active	NO

Name :

Mr. Anantharaman Ramachandran Trikkur

Designation :

Director

Address :

'Ayodhya' Gandhinagar, Cheroor Post, Thrissur - 680008, Kerala, India

Date of Appointment :

17.09.2013

DIN No.:

05262157

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	U65990MH1986PTC040897	INDEL MONEY PRIVATE LIMITED	Director	17/09/2013	05/07/2012	-	Active	NO

Name :

Salil Venu

Designation :

Director

Address :

255 (1/367) Vasanth 11, Chalad Pallikunnu Panchayath, Kannur - 670008, Kerala, India

Date of Appointment :

17.09.2013

DIN No.:

06531662

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	U50300KL2013PTC033943	Indel Automotives Kochi Private Limited	Additional director	12/07/2013	12/07/2013	-	Active	NO
2	U65990MH1986PTC040897	INDEL MONEY PRIVATE LIMITED	Director	17/09/2013	12/07/2013	-	Active	NO
3	U74999TN2012PTC086604	Energetic Interiors Private Limited	Additional director	01/05/2014	01/05/2014	-	Active	NO

MAJOR SHAREHOLDERS

As on 17.09.2013

Names of Shareholders	No. of Shares
Mohanan Gopalakrishnan	713662
P Usha Devi Mahanan	110040
Umesh Mohanan	204346
Indel Corporation Private Limited, India	6561931
Total	7589979

As on 26.03.2014

Names of Allottees	No. of Shares
Indel Corporation Private Limited, India	890000
Total	890000

As on 01.02.2014

Names of Allottees	No. of Shares
Indel Corporation Private Limited, India	4400000
Total	4400000

As on 17.10.2013

Names of Allottees	No. of Shares
Indel Corporation Private Limited, India	1150000
Total	1150000

Equity Share Break up (Percentage of Total Equity)

As on 17.09.2013

Category	Percentage
Bodies corporate	74.32
Directors or relatives of Directors	25.68
Total	100.00

BUSINESS DETAILS

Line of Business :	Company provides a wide range of fund based and fee based services including gold loans, money transfer facilities etc.
Terms :
Selling :	Cash, Advance Payment and Cheque
Purchasing :	Cash, Advance Payment and Cheque

GENERAL INFORMATION

No. of Employees :

110 (Approximately)

Bankers :

Bhanlaxmi Bank Limited, Andheri, Mumbai, Maharahstra, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
LONG TERM BORROWINGS
Loan From Bank	0.639	0.000
Less: repayable within 12 Months	(0.192)	0.000
Total	0.447	0.000

Banking Relations :	--
Auditors :
Name :	FRG and Company Chartered Accountants
Address :	303, Ratan Galaxie, Near Mehul Cinema, Jawaharlal Nehru Road, Mulund (West), Mumbai – 400080, Maharashtra, India
Tel. No.:	91-22-32254560
E-Mail :	rajeshtiwari@frgglobal.com
Website :	www.frgglobal.com
PAN No.:	AACFF3950C
Holding Company :	Indel Corporation Private Limited CIN No.: U65900MH2011PTC222836
Concern in which key managerial personnel has significant influence :	Sengottaiyan and Company

CAPITAL STRUCTURE

After 17.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs.10/- each	Rs.250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14029979	Equity Shares	Rs.10/- each	Rs.140.300 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.00 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3985633	Equity Shares	Rs.10/- each	Rs.39.856 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	39.856	2.108	2.108
(b) Reserves & Surplus	(14.063)	1.561	1.498
(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)	25.793	3.669	3.606
(3) Non-Current Liabilities
(a) long-term borrowings	0.447	0.000	0.000
(b) Deferred tax liabilities (Net)	0.452	0.003	0.009
(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)	0.899	0.003	0.009
(4) Current Liabilities
(a) Short term borrowings	0.042	1.353	4.174
(b) Trade payables	1.546	0.012	0.000
(c) Other current liabilities	0.458	0.015	0.014
(d) Short-term provisions	0.019	0.000	0.043
Total Current Liabilities (4)	2.065	1.380	4.231
TOTAL	28.757	5.052	7.846
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	17.393	0.045	0.580
(ii) Intangible Assets	1.218	0.000	0.000
(iii) Capital work-in-progress	0.643	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.017	0.000	0.000
(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	19.271	0.045	0.580
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	1.486	0.035	0.023
(e) Short-term loans and advances	6.452	4.380	7.243
(f) Other current assets	1.548	0.592	0.000
Total Current Assets	9.486	5.007	7.266
TOTAL	28.757	5.052	7.846

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL (A)		0.589	0.677	0.656
Less	EXPENSES
		TOTAL (B)		15.147	0.229	0.577
						(Including Finance and Depreciation)
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			(14.558)	0.448
Less	FINANCIAL EXPENSES (D)			0.098	0.294
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			(14.656)	0.154
Less	DEPRECIATION/ AMORTISATION (F)			0.519	0.078
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			(15.175)	0.076	0.079
Less	TAX (H)			0.449	0.013	0.025
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			(15.624)	0.063	0.054
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			0.055	0.042	0.038
Less	APPROPRIATIONS
			Transfer to Reserve Fund	0.000	0.050	0.050
	BALANCE CARRIED TO THE B/S			(15.569)	0.055	0.042
	Earnings / (Loss) Per Share (Rs.)			3.92	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(2652.63)	9.31	8.23
Return on Total Assets (PBT/Total Assets}	(%)	(54.01)	1.50	1.01
Return on Investment (ROI) (PBT/Networth)		(0.59)	0.02	0.02
Debt Equity Ratio (Total Debt /Networth)		0.02	0.37	1.16
Current Ratio (Current Asset/Current Liability)		4.59	3.63	1.72

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	2.108	2.108	39.856
Reserves & Surplus	1.498	1.561	(14.063)
Net worth	3.606	3.669	25.793
long-term borrowings	0.000	0.000	0.447
Short term borrowings	4.174	1.353	0.042
Total borrowings	4.174	1.353	0.489
Debt/Equity ratio	1.158	0.369	0.019

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	0.656	0.677	0.589
		3.201	-12.999

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	0.656	0.677	0.589
Profit	0.054	0.063	(15.624)
	8.23%	9.31%	(2652.63%)

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 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	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
SHORT TERM BORROWINGS
Loans repayable on demand
From related parties	0.043	0.246
From other parties	0.000	1.107
Total	0.043	1.353

CORPORATE INFORMATION:

The company was incorporated on 11^th September 1986 in Mumbai, India. The company is a Non-Deposit taking Non-Banking Finical Company which provides a wide range of fund based and fee based services including gold loans, money transfer facilities etc. The company currently operates 10 branches.

RESULTS OF OPERATIONS

During the year total income of the company decreased to Rs.0.589 Million from Rs.0.677 Million in the previous year. The Company recorded Net loss after tax of Rs.15.624 Millions against the profit of the previous year of Rs.0.063 Million.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10475738	17/01/2014	30,000,000.00	Dhanlaxmi Bank Limited	Thrissur Main Branch, Kochu Bhavan, M.G. Road, Poothole P.O., Thrissur, Kerala - 680004, India	B95551289

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.61.43
UK Pound	1	Rs.99.72
Euro	1	Rs.77.93

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	RAS
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.