1. Summary Information

		Country	India
Company Name	ALP OVERSEAS PRIVATE LIMITED	Principal Name 1	Mr. Tejbir Singh Anand
Status	Satisfactory	Principal Name 2	Jaswinder Kaur Anand
		Registration #	55-080083
Street Address	Anbros House, 25/31, East Patel Nagar, New Delhi – 110008, India
Established Date	03.07.1996	SIC Code	--
Telephone#	Not Available	Business Style 1	Manufacturer
Fax #	Not Available	Business Style 2	Exporter
Homepage	http://www.alpoverseas.com	Product Name 1	EPDM Rubber Products
# of employees	150 (Approximately)	Product Name 2	--
Paid up capital	Rs. 64,853,000/-	Product Name 3	--
Shareholders	Bodies corporate 27.00%, Directors or relatives of directors 73.00%	Banking	ING Vysya Bank Limited
Public Limited Corp.	No	Business Period	18 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (41)
Related Company
Relation	Country	Company Name	CEO
Subsidiary Company	India	Ajax Industrial Products Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	317,180,000	Current Liabilities	177,498,000
Inventories	137,348,000	Long-term Liabilities	303,274,000
Fixed Assets	245,543,000	Other Liabilities	22,203,000
Deferred Assets	0,000	Total Liabilities	502,975,000
Invest& other Assets	51,831,000	Retained Earnings	184,074,000
		Net Worth	248,927,000
Total Assets	751,902,000	Total Liab. & Equity	751,902,000
Total Assets (Previous Year)	738,640,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	790,000,000 [Approx.]	Net Profit	16,749,000
Sales (Previous Year)	856,140,000	Net Profit (Previous Year)	17,170,000

MIRA INFORM REPORT

Report Date :

27.09.2014

IDENTIFICATION DETAILS

Name :	ALP OVERSEAS PRIVATE LIMITED [w.e.f.06.02.2008]
Formerly Known As :	ALP ELASTOMERS PRIVATE LIMITED [w.e.f.03.11.2007] ALP OVERSEAS PRIVATE LIMITED [w.e.f.15.06.2007] GTP OVERSEAS PRIVATE LIMITED
Registered Office :	Anbros House, 25/31, East Patel Nagar, New Delhi - 110008
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	03.07.1996
Com. Reg. No.:	55-080083
Capital Investment / Paid-up Capital :	Rs. 64.853 Millions
CIN No.: [Company Identification No.]	U74900DL1996PTC080083
PAN No.: [Permanent Account No.]	AAACG6366L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of EPDM Rubber Products.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 996000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be sound. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for 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

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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 willfully 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	ICRA
Rating	Term Loans = B+ [Suspended]
Rating Explanation	Risk prone credit quality and very high credit risk.
Date	October 2013

Rating Agency Name	ICRA
Rating	Non-fund based facilities = A4 [Suspended]
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	October 2013

Reason for suspension: Absence of the requisite information.

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 :	Mr. Vinod
Designation :	Accounts Manager
Contact No.:	91-124-4731500
Date :	25.09.2014

LOCATIONS

Registered Office :	Anbros House, 25/31, East Patel Nagar, New Delhi – 110008, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	renu@alpoverseas.com renuka@alpoverseas.com rajesharora@alpoverseas.com marketing@alpoverseas.com
Website :	http://www.alpoverseas.com
Corporate Office :	Plot No. 32, Sector-18, Huda, Gurgaon – 122015, Haryana, India
Tel. No.:	91-124-4731500/ 4002945/ 4002942/ 47
Fax No.:	91-124-4002942/ 4731598
Factory :	Opposite Jha Degree College, Bilaspur Road, Rudrapur, Uttarakhand, India
Branch Offices :	Located at: · Ludhiana Kolkata Mumbai Chennai Bangalore
International Offices :	Located at: · USA South Africa Thailand

DIRECTORS

AS ON 25.09.2013

Name :

Mr. Tejbir Singh Anand

Designation :

Managing director

Address :

G-8B, Puspanjali Farms, Bijawasan, New Delhi – 110061, India

Date of Birth/Age :

29.11.1978

Date of Appointment :

01.04.2012

PAN No.:

AFOPA6172Q

DIN No.:

00038356

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74900DL1996PTC080083	ALP OVERSEAS PRIVATE LIMITED	Managing director	01/04/2012	01/01/1999	Active	NO
2	U51109DL1999PTC099092	AJAX INDUSTRIAL PRODUCTS PRIVATE LIMITED	Director	31/03/1999	31/03/1999	Active	NO
3	U30007DL2000PTC103701	ALP CORPORATE SERVICES PRIVATE LIMITED	Director	22/05/2000	22/05/2000	Active	NO
4	U74999DL2007PTC161995	ISA ESTATES PRIVATE LIMITED	Director	13/04/2007	13/04/2007	Active	NO
5	U40101HP2007PTC030738	GTP POWER PROJECTS PRIVATE LIMITED	Director	03/05/2007	03/05/2007	Strike off	NO
6	U74140DL2011PTC218585	ALP POLYMER PARK PRIVATE LIMITED	Director	04/05/2011	04/05/2011	Active	NO
7	U74140DL2011PTC220003	ALP AEROFLEX INDIA PRIVATE LIMITED	Director	27/05/2011	27/05/2011	Active	NO
8	U25190DL1983PLC017070	ALP NISHIKAWA COMPANY LIMITED	Director	02/09/2011	02/09/2011	Active	NO
9	U25202DL2004PTC130759	ALP PLASTICS PRIVATE LIMITED	Director	25/04/2013	25/04/2013	Active	NO
10	U51909HR2013PTC048216	GENESIS ECOTECH PRIVATE LIMITED	Director	25/07/2014	04/06/2014	Active	NO

Name :

Jaswinder Kaur Anand

Designation :

Whole-time director

Address :

H-5/2, Model Town, Delhi – 110009, India

Date of Birth/Age :

22.01.1958

Date of Appointment :

01.04.2012

PAN No.:

AFNPA3493F

DIN No.:

00023316

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	U74900DL1996PTC080083	ALP OVERSEAS PRIVATE LIMITED	Whole-time director	01/04/2012	03/07/1996	-	Active	NO
2	U25202DL2004PTC130759	ALP PLASTICS PRIVATE LIMITED	Director	31/03/2010	07/07/2007	-	Active	NO
3	U51109DL1999PTC099092	AJAX INDUSTRIAL PRODUCTS PRIVATE LIMITED	Director	07/07/2007	07/07/2007	25/04/2013	Active	NO
4	U25190DL1983PLC017070	ALP NISHIKAWA COMPANY LIMITED	Director	15/09/2012	17/11/2011	-	Active	NO

Name :

Surinder Kaur Anand

Designation :

Whole-time director

Address :

G-8B, Puspanjali Farms, Bijawasan, New Delhi – 110061, India

Date of Birth/Age :

17.10.1954

Date of Appointment :

01.04.2012

PAN No.:

AGEPA7713Q

DIN No.:

00023385

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	U74900DL1996PTC080083	ALP OVERSEAS PRIVATE LIMITED	Whole-time director	01/04/2012	03/07/1996	-	Active	NO
2	U70200DL2012PTC233179	SKA ESTATES PRIVATE LIMITED	Director	20/03/2012	20/03/2012	22/06/2013	Active	NO

Name :

Ravleen Kaur

Designation :

Whole-time director

Address :

G-8B, Puspanjali Farms, Bijawasan, New Delhi – 110061, India

Date of Birth/Age :

19.07.1981

Date of Appointment :

01.06.2009

DIN No.:

02720547

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	U74900DL1996PTC080083	ALP OVERSEAS PRIVATE LIMITED	Whole-time director	01/06/2009	01/06/2009	-	Active	NO
2	U74140DL2011PTC220003	ALP AEROFLEX INDIA PRIVATE LIMITED	Director	27/05/2011	27/05/2011	01/08/2011	Active	NO

KEY EXECUTIVES

Name :	Mr. Vinod
Designation :	Accounts Manager
Name :	Ms. Renu Aggarwal
Designation :	Secretary
Address :	1775, Sector 16, Faridabad – 121002, Haryana, India
Date of Birth/Age :	20.07.1987
Date of Appointment :	21.11.2011
PAN No.:	AJNPA6440L

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 25.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Surinder Kaur Anand	1375150	21.20
Jaswinder Kaur Anand	1375150	21.20
Tejbir Singh Anand	992500	15.30
Pawandeep Singh Anand	992500	15.30
Anbros Management Services Private Limited, India	500000	7.71
Annapurna Industrial Resources Limited, India	1250000	19.27
Total	6485300	100.00

AS ON 25.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	27.00
Directors or relatives of directors	73.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of EPDM Rubber Products.
Exports :
Products :	Rubber Products
Countries :	· Europe USA UAE
Imports :
Products :	Rubber
Countries :	· Singapore
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Canvas, Singapore

Sah Petroleum Limited

Customers :

Wholesalers and Retailers

· Gold Glass, USA

Soffseal, USA

No. of Employees :

150 (Approximately)

Bankers :

· ING Vysya Bank Limited

Sector -18, Noida, Noida - 201301, Uttar Pradesh, India

· Syndicate Bank

4, Bahadur Shah Zafar Marg, I.P. Estate, New Delhi - 110002, Delhi, India

· ICICI Bank Limited

Bandra Kurla Complex, Mumbai – 400051, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Long-term maturities of finance lease obligations	7.210	12.372
Rupee term loans from banks	0.000	12.565
Total	7.210	24.937

Banking Relations :	--
Auditors :
Name :	B. S. Sawhney and Associates Chartered Accountants
Address :	F-249, Ground Floor, New Rajinder Nagar, Delhi, India
Income-tax PAN of auditor or auditor's firm :	AADFB4160H
Subsidiary Company :	· Ajax Industrial Products Private Limited [U51109DL1999PTC099092] Alp Aeroflex India Private Limited [U74140DL2011PTC220003] Alp USA Inc Glengyn Pty Limited Enterprise America

CAPITAL STRUCTURE

AFTER 25.09.2013

Authorised Capital : Rs. 97.500 Millions

Issued, Subscribed & Paid-up Capital : Rs. 75.220 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
8,750,000	Equity Shares	Rs. 10/- each	Rs. 87.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6,485,300	Equity Shares	Rs. 10/- each	Rs. 64.853 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	64.853	64.853	52.353
(b) Reserves & Surplus	184.074	162.735	108.065
(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)	248.927	227.588	160.418
(3) Non-Current Liabilities
(a) long-term borrowings	73.415	87.755	139.753
(b) Deferred tax liabilities (Net)	1.541	6.423	2.618
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	15.410	13.377	14.592
Total Non-current Liabilities (3)	90.366	107.555	156.963
(4) Current Liabilities
(a) Short term borrowings	229.859	175.657	180.679
(b) Trade payables	137.236	163.748	120.692
(c) Other current liabilities	40.262	43.277	43.249
(d) Short-term provisions	5.252	20.815	15.651
Total Current Liabilities (4)	412.609	403.497	360.271
TOTAL	751.902	738.640	677.652
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	230.809	228.729	237.156
(ii) Intangible Assets	14.734	18.417	23.021
(iii) Capital work-in-progress	0.155	6.894	5.800
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	51.676	39.317	9.317
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	26.620	28.458	10.767
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	323.994	321.815	286.061
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	137.348	135.208	139.812
(c) Trade receivables	248.708	230.516	188.542
(d) Cash and cash equivalents	8.669	14.189	19.097
(e) Short-term loans and advances	33.183	36.912	44.140
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	427.908	416.825	391.591
TOTAL	751.902	738.640	677.652

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	790.000 [Approx.]	856.140	740.011
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		13.935	26.233	17.567
Less	TAX		(2.814)	9.063	3.892
	PROFIT AFTER TAX		16.749	17.170	13.675
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	338.506	302.126	288.386
	Earnings Per Share (Rs.)		2.58	2.65	2.61

Particulars	31.03.2014
Sales Turnover (Approximately)	800.000

Expected Sales (2014-2015): Rs. 900.000 Millions

The above information has been parted by Mr. Vinod [Accounts Manager]

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PBT/Sales)	(%)	NA	3.06	2.37
Return on Total Assets (PBT/Total Assets}	(%)	1.99	3.79	2.65
Return on Investment (ROI) (PBT/Networth)		0.06	0.12	0.11
Debt Equity Ratio (Total Debt/Networth)		1.22	1.16	2.00
Current Ratio (Current Asset/Current Liability)		1.04	1.03	1.09

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	52.353	64.853	64.853
Reserves & Surplus	108.065	162.735	184.074
Net worth	160.418	227.588	248.927
Long-term borrowings	139.753	87.755	73.415
Short term borrowings	180.679	175.657	229.859
Total borrowings	320.432	263.412	303.274
Debt/Equity ratio	1.997	1.157	1.218

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	740.011	856.140	790.000 [Approx.]
		15.693	(7.725)

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	740.011	856.140	790.000 [Approx.]
Profit	13.675	17.170	16.749
	1.85%	2.01%	2.12%

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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
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	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10490815	31/03/2014	7,706,895.00	ING VYSYA BANK LIMITED	871, EAST PARK ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA	C03947389
2	10454402	30/09/2013	5,140,681.00	ING VYSYA BANK LIMITED	CONSUMER FINANCE DIVISION, 871, EAST PARK ROAD, KAROL BAGH,DELHI., DELHI, DELHI - 110005, INDIA	B87264909
3	10383906	14/08/2013 *	395,870,000.00	ING VYSYA BANK LIMITED	SECTOR -18, NOIDA, NOIDA, UTTAR PRADESH - 201301, INDIA	B86589553

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Loans and advances from related parties	54.582	52.161
Deposits	11.623	10.657
SHORT TERM BORROWINGS
Borrowing from foreign institutional agencies	229.859	175.657
Total	296.064	238.475

FIXED ASSETS:

· Land

Buildings

Plant and equipment

Furniture and fixtures

Vehicles

Office equipment

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. 61.57
UK Pound	1	Rs. 100.42
Euro	1	Rs. 78.45

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAR
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		41

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.