MIRA INFORM REPORT

Report Date :

30.09.2014

IDENTIFICATION DETAILS

Name :	MOHAN SPINTEX INDIA LIMITED
Registered Office :	D No. 11-40-1, S-1, Chitturi Complex, Pulipartivari, Street Vijaywada, Vijaywada – 520001, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	11.05.2005
Com. Reg. No.:	01-046188
Capital Investment / Paid-up Capital :	Rs.419.500 Millions
CIN No.: [Company Identification No.]	U18100AP2005PLC046188
IEC No.:	28630189388
TAN No.: [Tax Deduction & Collection Account No.]	HYDM03991B
PAN No.: [Permanent Account No.]	AAECM2744G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Seller of Cotton Yarn.
No. of Employees :	3000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 2900000
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 is normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. The company can be considered normal 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

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=BBB-
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	25.08.2014

Rating Agency Name	CARE
Rating	Short term bank facilities=A3
Rating Explanation	Moderate degree of safety. It carry higher credit risk.
Date	25.08.2014

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

Name :	Mr. Ram Babu
Designation :	Finance Department
Contact No.:	91-866-2466266
Date :	14.06.2014

LOCATIONS

Registered Office :	D No. 11-40-1, S-1, Chitturi Complex, Pulipartivari, Street Vijaywada, Vijaywada – 520001, Andhra Pradesh, India
Tel. No.:	91-866-2466266 / 2427113
Fax No.:	91-866-2426527
E-Mail :	md@mohanspintex.com
Website :	www.mohanspintex.com
Corporate Office :	No.48-12-17,Near ESI Bus Stop, Eluru Road, Gunadala, Vijayawada - 520004, Andhra Pradesh, India
Tel. No.:	91-866-2466266 / 277 / 288
Fax No.:	91-866-2466166
E-Mail :	info@mohanspintex.com marketing@mohanspintex.com
Factory 1 :	Vattigudipadu, Agiripalli Mandalam, Krishna District – 521211, Andhra Pradesh, India
Tel. No.:	91-8656-250456 / 250565
Fax No.:	91-8656-250453
E-Mail :	mohanspintexind@rediffmail.com
Factory 2 :	Remalle Village, Bapulapadu Mandal, Krishna District – 521110, Andhra Pradesh, India
Tel. No.:	91-8656-239555 / 557 / 558 / 559
Fax No.:	91-8656-239556
E-Mail :	mohanspintexind@rediffmail.com

DIRECTORS

AS ON 05.09.2012

Name :

Mr. Sankar Rao Koneru

Designation :

Director

Address :

55-6-16, Krishna Mandir Road, Venkoji Palem, Visakhapatnam – 530022, Andhra Pradesh, India

Date of Birth/Age :

15.04.1960

Qualification :

SSC

Date of Appointment :

31.03.2006

DIN No.:

00133956

Name :

Mr. Bobba Venkateswara Rao

Designation :

Director

Address :

40-25-18/1, Netaji Street, Patamata, Vijayawada – 520010, Andhra Pradesh, India

Date of Birth/Age :

01.01.1960

Qualification :

B.Com.

Date of Appointment :

31.03.2006

DIN No.:

00161960

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	U01222AP1988PTC008154	KAMADHENU FEEDS PRIVATE LIMITED	Managing director	05/01/1988	05/01/1988	Active	NO
2	U40101KA2005PTC035803	SRI NIRMALA POWER PRIVATE LIMITED	Director	02/06/2005	02/06/2005	Dormant	NO
3	U18100AP2005PLC046188	MOHAN SPINTEX INDIA LIMITED	Director	31/03/2006	31/03/2006	Active	NO

Name :

Mr. Ravi Kumar Gottimukkala

Designation :

Director

Address :

72-5-5, Lakshmi Nursing Home, St. Patamata, Vijayawada – 520010, Andhra Pradesh, India

Date of Birth/Age :

29.04.1970

Qualification :

B.E.

Date of Appointment :

11.05.2005

DIN No.:

00295152

Name :

Mr. Mohan Rao Vallabhaneni

Designation :

Director

Address :

59-7-3A, Acharya Ranga Street, Ramachandra Nagar, Vijayawada – 520008, Andhra Pradesh, India

Date of Birth/Age :

19.10.1939

Qualification :

S.S.L.C.

Date of Appointment :

01.04.2008

PAN No.:

AARPV7157L

DIN No.:

00320520

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	U18100AP2005PLC046188	MOHAN SPINTEX INDIA LIMITED	Director	01/04/2008	11/05/2005	Active	NO

Name :

Mr. Sudhakar Chowdary Vallabhaneni

Designation :

Managing director

Address :

59-7-3A, Acharya Ranga Street, Ramachandra Nagar, Vijayawada – 520008, Andhra Pradesh, India

Date of Birth/Age :

06.06.1969

Qualification :

B.E.

Date of Appointment :

10.03.2013

PAN No.:

ABXPV8246M

DIN No.:

00320555

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	U18100AP2005PLC046188	MOHAN SPINTEX INDIA LIMITED	Managing director	10/03/2013	11/05/2005	-	Active	NO
2	U24121DL2005PLC143452	KRIBHCO SHYAM FERTILIZERS LIMITED	Nominee director	08/12/2005	08/12/2005	10/09/2007	Active	NO
3	U70200DL2009PLC189405	KRIBHCO INFRASTRUCTURE LIMITED	Director	16/04/2009	16/04/2009	-	Active	NO
4	U17120MH1967PLC013669	CONFEDERATION OF INDIAN TEXTILE INDUSTRY	Director	19/09/2013	19/09/2013	-	Active	NO
5	U74900AP2013PLC091220	SOUTHERN VALLEY VENTURES LIMITED	Director	22/11/2013	22/11/2013	-	Active	NO

Name :

Mr. Venkatanjan Kakarala

Designation :

Director

Address :

54-14/1-6-1, Srinivasa Nagar, Vijayawada – 520008, Andhra Pradesh, India

Date of Birth/Age :

08.02.1962

Qualification :

B.E.

Date of Appointment :

28.09.2011

DIN No.:

00680580

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	U74210AP1987PTC007283	MAGNA ENGINEERING PRODUCTS PVT LTD	Whole-time director	16/08/1988	16/08/1988	Active	NO
2	U18100AP2005PLC046188	MOHAN SPINTEX INDIA LIMITED	Director	28/09/2011	18/08/2006	Active	NO

Name :

Mr. Yantrapragada Bhaskara Rao

Designation :

Alternate director

Address :

3-7-10, Rama Nagar, Nidadavole – 534301, Andhra Pradesh, India

Date of Birth/Age :

07.07.1939

Qualification :

B.A.

Date of Appointment :

08.07.2005

DIN No.:

01777661

Name :

Mr. Mohana Kumari Ravella

Designation :

Director

Address :

9-63-69, Hameed Street, Vijayawada – 520001, Andhra Pradesh, India

Date of Birth/Age :

04.05.1959

Qualification :

B.Com., LLB

Date of Appointment :

08.08.2008

PAN No.:

ABFPR0797M

DIN No.:

02303947

Name :

Padmini Vallabhaneni

Designation :

Director

Address :

59-7-3A, Acharya Ranga Street, Ramachandra Nagar, Vijayawada – 520008, Andhra Pradesh, India

Date of Birth/Age :

13.06.1970

Qualification :

B.Com.

Date of Appointment :

08.08.2008

PAN No.:

ABXPV5566A

DIN No.:

02317647

Name :

Mr. Yantrapragada Subba Rao

Designation :

Director

Address :

20990, Valey Green Drive Apartment Cupertno, CA 95014, USA

Date of Birth/Age :

11.07.1965

Qualification :

M.B.A.

Date of Appointment :

08.07.2005

DIN No.:

03560766

KEY EXECUTIVES

Name :	Mr. Ram Babu
Designation :	Finance Department

MAJOR SHAREHOLDERS

AS ON 05.09.2012

SHAREHOLDERS DETAILS FILE ATTACHED.

Equity Share Break up (Percentage of Total Equity)

AS ON 05.09.2012

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	8.66
Directors or relatives of Directors	68.19
Other top fifty shareholders	23.15
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Seller of Cotton Yarn.

Products :

Item Code No. (ITC Code)	Product Description
52051190	52051190

Exports :

Countries :

China

Pakistan

Imports :

Products :

Machinery

Countries :

Switzerland

GENERAL INFORMATION

Suppliers :

Sri Jagdamba Ginning and Pressing Private Limited

Customers :

Kekana Export

No. of Employees :

3000 (Approximately)

Bankers :

· Andhra Bank, R.R. Appa Rao, P.B. No. 22, Andhra Bank Buidlings, Vijayawada – 520001, Andhra Pradesh, India

Indian Overseas Bank, Ring Road Branch, Near Benz Circle, Vijayawada - 520008, Andhra Pradesh, India

State Bank of India, Patamata Branch, Patamata, Vijayawada - 520007, Andhra 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	1136.438	1182.762
Loans and Advances from Related Parties	62.978	92.200
Other Loans and Advances	4.370	2.575
Short Term Borrowings
Working Capital Loans from Banks	434.194	475.464
Total	1637.980	1753.001

Banking Relations :	--
Auditors :
Name :	Prasad and Company Chartered Accountants
Address :	29-13-46, Kaleswara Rao Road, Suryarao Pet, Vijayawada – 520002, Andhra Pradesh, India
PAN No.:	ACHPP4796K

CAPITAL STRUCTURE

AS ON 05.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
39600000	Equity Shares	Rs.10/- each	Rs.396.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
36035014	Equity Shares	Rs.10/- each	Rs.360.350 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
46890000	Equity Shares	Rs.10/- each	Rs.468.900 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
41950014	Equity Shares	Rs.10/- each	Rs.419.500 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	419.500	360.350	290.577
(b) Reserves & Surplus	287.253	126.836	142.588
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	25.100	2.350	28.340
Total Shareholders’ Funds (1) + (2)	731.853	489.536	461.505
(3) Non-Current Liabilities
(a) long-term borrowings	1203.786	1394.337	1207.604
(b) Deferred tax liabilities (Net)	92.363	83.624	43.778
(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)	1296.149	1630.961	1251.382
(4) Current Liabilities
(a) Short term borrowings	434.194	475.464	304.014
(b) Trade payables	14.365	59.499	34.569
(c) Other current liabilities	296.763	211.246	29.934
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	745.322	593.210	368.517
TOTAL	2773.324	2713.707	2081.404
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1847.530	1856.554	1381.648
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	8.416	0.000	62.379
(iv) Intangible assets under development	0.918	0.000	0.000
(b) Non-current Investments	0.100	0.100	0.100
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	29.597	19.697	16.210
(e) Other Non-current assets	1.001	1.501	2.007
Total Non-Current Assets	1887.562	1877.852	1462.344
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	490.495	493.547	337.794
(c) Trade receivables	167.410	160.880	132.160
(d) Cash and cash equivalents	1.750	0.677	12.547
(e) Short-term loans and advances	226.107	180.751	136.559
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	885.762	835.855	619.060
TOTAL	2773.324	2713.707	2081.404

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	2902.426	1903.750	841.560
		Other Income	26.802	3.226	0.847
		TOTAL (A)	2929.228	1906.976	842.407
Less	EXPENSES
		Cost of materials consumed	1785.802	1452.492	548.100
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	0.000	(149.140)	(23.814)
		Employee benefit expense	38.324	73.458	36.094
		Other expenses	93.406	258.600	146.086
		TOTAL (B)	471.404	1635.410	706.466
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		540.292	271.566	135.941
Less	FINANCIAL EXPENSES (D)		227.480	161.655	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		312.812	109.911	135.941
Less/ Add	DEPRECIATION/ AMORTISATION (F)		101.017	77.672	29.506
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		211.795	32.239	106.435
Less	TAX (H)		51.378	47.991	51.104
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		160.417	(15.752)	55.331
	Earnings / (Loss) Per Share (Rs.)		3.82	0.44	1.91

Particulars	31.03.2014
Sales Turnover (Approximately)	3710.000

The above information has been parted by Mr. Ram Babu (Finance Department)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	5.48	(0.83)	6.57
Net Profit Margin (PBT/Sales)	(%)	7.30	1.69	12.65
Return on Total Assets (PBT/Total Assets}	(%)	7.66	1.19	5.27
Return on Investment (ROI) (PBT/Networth)		0.29	0.07	0.23
Debt Equity Ratio (Total Debt /Networth)		2.24	3.82	3.28
Current Ratio (Current Asset/Current Liability)		1.19	1.41	1.68

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	290.577	360.350	419.500
Reserves & Surplus	142.588	126.836	287.253
Share Application money pending allotment	28.340	2.350	25.100
Net worth	461.505	489.536	731.853
long-term borrowings	1207.604	1394.337	1203.786
Short term borrowings	304.014	475.464	434.194
Total borrowings	1511.618	1869.801	1637.980
Debt/Equity ratio	3.275	3.820	2.238

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	841.560	1,903.750	2,902.426
		126.217	52.458

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	841.560	1,903.750	2,902.426
Profit	55.331	(15.752)	160.417
	6.57%	(0.83%)	5.53%

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	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	No
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	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
Long Term Borrowings
Other Loans and Advances	0.000	116.800
Total	0.000	116.800

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10477318	10/01/2014	135,000,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P. B. NO. 22, ANDHRA BANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	B96217435
2	10405793	28/12/2012	35,000,000.00	INDIAN OVERSEAS BANK	RING ROAD BRANCH, NEAR BENZ CIRCLE, VIJAYAWADA, ANDHRA PRADESH - 520008, INDIA	B68852763
3	10331963	22/05/2013 *	532,000,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P. B. NO. 22, ANDHRA BANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	B79070108
4	10294138	20/06/2011	11,000,000.00	INDIAN OVERSEAS BANK	RING ROAD BRANCH,, NEAR BENZ CIRCLE, VIJAYAWADA, ANDHRA PRADESH - 520008, INDIA	B15792476
5	10294128	16/06/2011	16,900,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P. B. NO. 22, ANDHRA BANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	B15789886
6	10294132	09/06/2011	197,500,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P. B. NO. 22, ANDHRABANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	B15790504
7	10268112	30/09/2013 *	3,730,300,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P. B. NO. 22, ANDHRABANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	B90169152
8	10248358	14/12/2011 *	325,000,000.00	INDIAN OVERSEAS BANK	RING ROAD BRANCH, NEAR BENZ CIRCLE, VIJAYAWADA, ANDHRA PRADESH - 520008, INDIA	B29947199
9	10202312	04/02/2010 *	607,500,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P. B. NO. 22, ANDHRA BANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	A80779739
10	10003742	20/06/2011 *	673,400,000.00	STATE BANK OF INDIA	PATAMATA BRANCH, PATAMATA, VIJAYAWADA, ANDHRA PRADESH - 520007, INDIA	B16040990

*Date of modification Charges

FIXED ASSETS:

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Motor Vehicles

· Office Equipment

· Computer Equipments

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.99.73
Euro	1	Rs.77.93

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	DIV
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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.