MIRA INFORM REPORT

Report No. :	337405
Report Date :	19.08.2015

IDENTIFICATION DETAILS

Name :	PRIVI ORGANICS LIMITED (w.e.f. 01.07.1998)
Formerly Known As :	PRIVI ORGANICS PRIVATE LIMITED
Registered Office :	‘Privi house’, A-71, TTC, Thane Belapur Road, Near Kopar Khairne Railway Station, Navi Mumbai – 400709, Maharashtra
Tel. No.:	91-22-66023500
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	05.04.1982
Com. Reg. No.:	11-026867
Capital Investment / Paid-up Capital :	Rs. 148.450 Million
CIN No.: [Company Identification No.]	U24120MH1982PLC026867
IEC No.:	0391150553
TAN No.: [Tax Deduction & Collection Account No.]	MUMP17382B
PAN No.: [Permanent Account No.]	AAACP4717A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Aroma Chemicals.
No. of Employees :	1000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 4900000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Exist
Comments :	Subject is an established company having satisfactory track record. Rating reflects sound financial risk profile marked by improvement in performance of the company and decent liquidity position. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealing 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term Bank facilities : “BBB”
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	29.09.2014
Rating Agency Name	CARE
Rating	Short term Bank facilities : “A3”
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	29.09.2014

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. B. S. Shetty
Designation :	Finance Head
Contact No.:	91-22-66023500
Date :	17.08.2015

LOCATIONS

Registered Office :	‘Privi house’, A-71, TTC, Thane Belapur Road, Near Kopar Khairne Railway Station, Navi Mumbai – 400709, Maharashtra, India
Tel. No.:	91-22-66023500
Fax No.:	Not Available
E-Mail :	shetty@privi.co.in rameshk@privi.co.in
Website :	www.privi.com
Location :	Owned
Factory :	A7, A3, C4, C5, C6, C6/1, C33/1, MIDC, Mahad, Raigad – 402309, Maharashtra, India
Tel. No.:	91-2145-232122
Location :	Owned

DIRECTORS

AS ON 03.09.2013

Name :

Mr. Mahesh Purshottam Babani

Designation :

Managing director

Address :

7/8, Satguru House, Sherley Rajan Road, Opposite Carter Road, Bandra (West) Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

01.04.1957

Qualification :

B.Com

Date of Appointment :

01.04.2011

PAN No.:

AFLPB1549R

DIN No.:

00051162

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	U24120MH1982PLC026867	PRIVI ORGANICS LIMITED	Managing director	01-04-2014	15-11-1989	-	Active	NO
2	U65990MH1990PTC055495	BABANI INVESTMENT AND TRADING PRIVATE LIMITED	Director	30-04-2003	30-04-2003	-	Active	NO
3	U24110MH1994PTC075907	MINAR ORGANICS P LTD	Director	05-09-2003	05-09-2003	-	Active	NO
4	U51900MH1991PTC059819	SATGURU ENTERPRISES PRIVATE LIMITED	Director	27-01-2006	27-01-2006	-	Active	NO
5	U24239MH1990PTC057075	PRIVI LIFE SCIENCES PRIVATE LIMITED	Director	26-09-2008	02-09-2008	26-09-2009	Active	NO
6	U24100MH2009PTC197842	PRIVI LIFE SCIENCES PRIVATE LIMITED	Director	03-12-2010	16-06-2010	-	Amalgamated	NO
7	U67120MH1995PTC086563	MONEYMART SECURITIES PRIVATE LIMITED	Director	08-08-2011	15-06-2011	23-01-2015	Active	NO
8	U74220MH1985PTC037534	PRIVI BIOTECHNOLOGIES PRIVATE LIMITED	Director	27-09-2011	06-08-2011	-	Active	NO
9	U74999MH2012PTC234589	SATELLITE TECHNOLOGIES PRIVATE LIMITED	Director	17-08-2012	17-08-2012	-	Active	NO

Name :

Mr. Satan Santumal Bharwani

Designation :

Director

Address :

34, Bandra Amarjeevan Society, St. Martin Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

01.09.1936

Qualification :

M.A., CAIIB

Date of Appointment :

01.04.2005

DIN No.:

00183286

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	U65990MH1989PLC051506	SATCO CAPITAL MARKETS LIMITED	Director	02-09-2009	01-09-1994	30-01-2014	Active	NO
2	U24239MH1990PTC057075	PRIVI LIFE SCIENCES PRIVATE LIMITED	Director	29-09-2012	01-04-1999	03-09-2013	Active	NO
3	U31200DD1989PLC003122	BLOSSOM INDUSTRIES LIMITED	Director	09-08-2014	23-06-2000	-	Active	NO
4	U24120MH1982PLC026867	PRIVI ORGANICS LIMITED	Director	01-04-2005	01-04-2005	-	Active	NO
5	U51900MH1991PTC059819	SATGURU ENTERPRISES PRIVATE LIMITED	Director	25-07-2006	25-07-2006	-	Active	NO
6	U24100MH2009PTC197842	PRIVI LIFE SCIENCES PRIVATE LIMITED	Director	03-12-2010	03-03-2010	-	Amalgamated	NO
7	U67120MH1995PTC086563	MONEYMART SECURITIES PRIVATE LIMITED	Director	08-08-2011	15-06-2011	-	Active	NO
8	U74220MH1985PTC037534	PRIVI BIOTECHNOLOGIES PRIVATE LIMITED	Director	27-09-2011	06-08-2011	-	Active	NO

Name :

Mr. Anurag Surana

Designation :

Director

Address :

222-D, Block - H, Pushpa Bhawan, Sainik Farms, New Delhi-110062, Delhi, India

Date of Appointment :

12.09.2014

DIN No.:

00006665

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	L24211RJ1946PLC000469	PI INDUSTRIES LIMITED	Director	15-09-2012	30-09-1998	-	Active	NO
2	U65990GJ1992PLC018163	PILL FINANCE AND INVESTMENTS LIMITED	Director	12-04-2001	12-04-2001	27-09-2014	Active	NO
3	U67120RJ1992PLC021019	WILL INVESTMENTS LIMITED(TRANSFERRED FROM GUJARAT)	Director	12-04-2001	12-04-2001	26-03-2011	Active	NO
4	U73100DL2004PLC131109	PI LIFE SCIENCE RESEARCH LIMITED	Director	09-12-2004	09-12-2004	-	Active	NO
5	U51101RJ1975PTC001639	ESCO AGENCIES PRIVATE LIMITED	Director	20-12-2006	20-12-2006	-	Active	NO
6	U74900MH2011PTC222206	KAGASHIN Global Network Private Limited	Managing director	04-06-2013	21-09-2011	-	Active	NO
7	U24120MH1982PLC026867	PRIVI ORGANICS LIMITED	Director	12-09-2014	16-01-2014	-	Active	NO

Name :

Mr. Anoop Purshotam Babani

Designation :

Director

Address :

11, Satguru House, Sherley Rajan Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

27.05.1954

Qualification :

B.Com

Date of Appointment :

18.03.1999

PAN No.:

AFLPB1551R

DIN No.:

00185218

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	U45200MH1987PTC045057	BUILDWELL LAND DEVELOPERS PRIVATE LIMITED	Director	20-10-1987	20-10-1987	-	Active	NO
2	U65990MH1989PLC051506	SATCO CAPITAL MARKETS LIMITED	Managing director	01-04-2013	25-04-1989	30-01-2014	Active	NO
3	U24110MH1989PTC052478	VIVIRA CHEMICALS PRIVATE LIMITED	Director	15-11-1989	15-11-1989	-	Active	NO
4	U65990MH1990PTC055495	BABANI INVESTMENT AND TRADING PRIVATE LIMITED	Director	19-02-1990	19-02-1990	-	Active	NO
5	U24239MH1990PTC057075	PRIVI LIFE SCIENCES PRIVATE LIMITED	Director	29-06-1990	29-06-1990	20-02-2015	Active	NO
6	U65990MH1991PTC060049	MULTI SATCO INVESTMENTS PRIVATE LIMITED	Director	18-05-1992	18-05-1992	-	Active	NO
7	U51900MH1991PTC059819	SATGURU ENTERPRISES PRIVATE LIMITED	Director	03-01-1994	03-01-1994	-	Active	NO
8	U24120MH1982PLC026867	PRIVI ORGANICS LIMITED	Director	18-03-1999	18-03-1999	-	Active	NO
9	U70101MH1987PTC045108	SATGURU-KNS CONSTRUCTIONS PRIVATE LIMITED	Director	03-09-1999	03-09-1999	07-05-2015	Active	NO
10	U70101MH1987PTC045107	SATCO COMMODITIES PRIVATE LIMITED	Director	26-09-2009	30-04-2007	30-01-2014	Active	NO
11	U24100MH2009PTC197842	PRIVI LIFE SCIENCES PRIVATE LIMITED	Director	14-12-2009	14-12-2009	16-06-2010	Amalgamated	NO
12	U67120MH1995PTC086563	MONEYMART SECURITIES PRIVATE LIMITED	Director	29-09-2014	21-12-2013	-	Active	NO
13	AAA-1714	PRIVI ASSOCIATES LIMITED LIABILITY PARTNERSHIP	Body corporate as Designated Partner	02-07-2010	02-07-2010	-	Active	NO
14	AAD-0935	SATGURU VENTURES LLP	Designated Partner	22-12-2014	22-12-2014	-	Active	NO

Name :

Mr. Doppalapudi B Rao

Designation :

Whole-time director

Address :

903, Daffodils, Satguru Gardens, Thane – 400602, Maharashtra, India

Date of Birth/Age :

10.05.1948

Qualification :

M.E.

Date of Appointment :

01.04.2011

PAN No.:

AADPR7777A

DIN No.:

00356218

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	U24120MH1982PLC026867	PRIVI ORGANICS LIMITED	Whole-time director	01-04-2014	05-04-1982	-	Active	NO
2	U65990MH1990PTC055491	VIVIRA INVESTMENT AND TRADING PRIVATE LIMITED	Director	19-02-1990	19-02-1990	-	Active	NO
3	U24110MH1994PTC075907	MINAR ORGANICS P LIMITED	Director	12-04-2004	12-04-2004	-	Active	NO
4	U24239MH1990PTC057075	PRIVI LIFE SCIENCES PRIVATE LIMITED	Director	26-09-2008	02-09-2008	26-09-2009	Active	NO
5	U24100MH2009PTC197842	PRIVI LIFE SCIENCES PRIVATE LIMITED	Managing director	03-12-2010	14-12-2009	-	Amalgamated	NO
6	U74220MH1985PTC037534	PRIVI BIOTECHNOLOGIES PRIVATE LIMITED	Director	27-09-2011	06-08-2011	-	Active	NO
7	U74999MH2012PTC234589	SATELLITE TECHNOLOGIES PRIVATE LIMITED	Director	17-08-2012	17-08-2012	-	Active	NO

Name :

Mr. Rajesh Harichandra Budhrani

Designation :

Director

Address :

6 Ardmore Park, 19-01, The Ardmore, Singapore-259953

Date of Birth/Age :

01.08.1970

Qualification :

B. Sc, Major in Accounts and Finance

Date of Appointment :

11.08.2005

DIN No.:

01284426

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	U51900MH1992PTC064885	BRAHMAPUTRA EXPORTS BOMBAY PRIVATE LIMITED	Director	17-01-1992	17-01-1992	-	Active	NO
2	U65910MH1994PLC083335	BUDHRANI FINANCE LIMITED	Director	29-11-1994	29-11-1994	-	Active	NO
3	U24120MH1982PLC026867	PRIVI ORGANICS LIMITED	Director	11-08-2005	11-08-2005	-	Active	NO
4	U70101MH2005PTC193975	F AND C REIT PROPERTY MANAGEMENT INDIA PRIVATE LIMITED	Director	29-11-2005	29-11-2005	31-05-2008	Active	NO
5	U70101MH1994PTC077570	EXODE APARTMENT MAKERS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
6	U70100MH1995PTC087954	DREAMHOUSE CONSTRUCTIONS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	30-03-2015	Active	NO
7	U45201MH1995PTC087436	FLAGSTONE CONSTRUCTIONS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	30-03-2015	Active	NO
8	U45200MH1995PTC085181	OPAL LAND DEVELOPERS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	30-03-2015	Active	NO
9	U45200MH1995PTC085185	AVISHKAR LAND DEVELOPERS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	30-03-2015	Active	NO
10	U45200MH1995PTC087282	FLAWLESS CONSTRUCTIONS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	30-03-2015	Active	NO
11	U70100MH1995PTC087944	GREENBACK CONSTRUCTIONS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	30-03-2015	Active	NO
12	U65990MH1994PTC077375	BIRCH INVESTMENT AND FINANCE PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
13	U70100MH1995PLC085421	BUDHRANI REALTY LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
14	U70101MH1994PTC081790	AVANI FINANCIAL AND REAL ESTATE DEVELOPERS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
15	U45200MH1994PTC083864	BHANSALI CONSTRUCTION AND FINANCE PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
16	U45200MH1995PTC085184	TOWER LAND DEVELOPERS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
17	U45200MH1994PTC083563	PANNA FINANCIAL AND REAL ESTATE DEVELOPERS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
18	U65900MH1995PTC091581	PACIFIC CREDIT PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
19	U51900MH1992PTC064884	BRAHMAPUTRA TRADING BOMBAY PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
20	U70100MH1995PTC087971	CARAT CONSTRUCTIONS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
21	U45200MH2008PTC188511	BUDHRANI CONSTRUCTIONS PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
22	U51900MH1994PTC077573	RIVERGROVE TRADING PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
23	U65910MH1994PTC081697	KANAK REALTORS AND FINANCE PRIVATE LIMITED	Director	03-10-2010	03-10-2010	-	Active	NO
24	U45201MH2011PTC215485	LOKANKARA LAND AND ESTATE DEVELOPERS PRIVATE LIMITED	Director	29-03-2011	29-03-2011	-	Active	NO
25	U45400MH2011PTC216373	TRILOCHAN LAND AND ESTATE DEVELOPERS PRIVATE LIMITED	Director	18-04-2011	18-04-2011	30-03-2015	Active	NO
26	U74999MH2014PLC256774	CENTRUM RETAIL SERVICES LIMITED	Additional director	06-07-2015	06-07-2015	-	Active	NO

Name :

Mr. Padmanabh Ramchandra Barpande

Designation :

Additional director

Address :

Saubhagya Society, Block 51, 5th Floor, A - Wing,, Jeevan Vikas Kendra Marg, Andheri (East),, Mumbai, 400069, Maharashtra, INDIA

Date of Appointment :

20.03.2015

DIN No.:

00016214

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	U65990MH1979PTC021763	DELOITTE SHARED SERVICES INDIA PRIVATE LIMITED	Director	10-08-1996	10-08-1996	31-03-2009	Active	NO
2	U67120MH2008PLC188032	METROPOLITAN CLEARING CORPORATION OF INDIA LIMITED	Director	17-07-2009	17-04-2009	25-07-2013	Active	NO
3	U31200DD1989PLC003122	BLOSSOM INDUSTRIES LIMITED	Director	09-08-2014	07-11-2009	-	Active	NO
4	L29142TN1988PLC015586	FINANCIAL TECHNOLOGIES (INDIA) LIMITED	Director	01-04-2012	11-08-2010	10-08-2013	Active	NO
5	U65999MH2008PLC185856	METROPOLITAN STOCK EXCHANGE OF INDIA LIMITED	Director	27-09-2011	12-03-2011	04-02-2013	Active	NO
6	U24230GJ1983PTC006157	SIDMAK LABORATORIES (INDIA) PRIVATE LIMITED	Director	29-09-2011	31-03-2011	-	Active	NO
7	L51909MH2002PLC135594	MULTI COMMODITY EXCHANGE OF INDIA LIMITED	Director appointed in casual vacancy	28-06-2012	28-06-2012	30-08-2013	Active	NO
8	L65990MH1982PLC028593	WESTLIFE DEVELOPMENT LIMITED	Director	31-12-2012	24-11-2012	-	Active	NO
9	U55202MH1995PTC089619	TRIPLE A FOODS PRIVATE LIMITED	Director	01-01-2013	01-01-2013	-	Amalgamated	NO
10	U70102MH2008PTC178127	WESTPOINT LEISUREPARKS PRIVATE LIMITED	Director	01-01-2013	01-01-2013	-	Amalgamated	NO
11	U55101MH1995PTC091422	HARDCASTLE RESTAURANTS PRIVATE LIMITED	Director	30-09-2013	01-02-2013	-	Active	NO
12	U74140MH2006PTC161381	JINGO COMPETITIVE CONSULTANTS PRIVATE LIMITED	Director	28-09-2013	15-03-2013	-	Active	NO
13	U24110MH1967PLC013688	GHARDA CHEMICALS LIMITED	Director	29-09-2014	29-09-2014	-	Active	NO
14	U30007MH1991PLC064368	BRISTLECONE INDIA LIMITED	Director	02-03-2015	02-03-2015	-	Active	NO
15	U24120MH1982PLC026867	PRIVI ORGANICS LIMITED	Additional director	20-03-2015	20-03-2015	-	Active	NO
16	U27100MH1993PLC070416	MAHINDRA STEEL SERVICE CENTRE LIMITED	Director	31-03-2015	31-03-2015	-	Active	NO
17	U27100MH2013PTC250979	MAHINDRA AUTO STEEL PRIVATE LIMITED	Additional director	29-04-2015	29-04-2015	-	Active	NO

Name :

Mr. Dwarko Topandas Khilnani

Designation :

Director

Address :

6/21, Borla Soct, Dr. C. G. Road,, Chembur,, Mumbai-400074, Maharashtra, India

Date of Appointment :

12.09.2014

DIN No.:

01824655

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	U31200DD1989PLC003122	BLOSSOM INDUSTRIES LIMITED	Director	09-08-2014	21-06-2007	Active	NO
2	U24230GJ1983PTC006157	SIDMAK LABORATORIES (INDIA) PRIVATE LIMITED	Director	25-09-2008	06-02-2008	Active	NO
3	U24120MH1982PLC026867	PRIVI ORGANICS LIMITED	Director	12-09-2014	30-06-2014	Active	NO
4	U24110MH1967PLC013688	GHARDA CHEMICALS LIMITED	Director	29-09-2014	29-09-2014	Active	NO

Name :

Mr. Namit Arora

Designation :

Nominee Director

Address :

Flat No.202, 2nd Floor., Monica Co-Operative. Housing Society, Fazal Sobani St. Colaba Wood Hse Road, Mumbai-400005, Maharashtra, India

Date of Appointment :

12.09.2014

DIN No.:

02577648

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	U91990MH2005GAP152320	INDIAN ASSOCIATION OF INVESTMENT PROFESSIONALS	Director	30-09-2008	30-09-2008	-	Active	NO
2	U15312DL2005PTC139164	BUSH FOODS OVERSEAS PRIVATE LIMITED	Director	30-09-2011	31-03-2011	28-03-2013	Active	NO
3	U28991TZ1986PTC001816	CRAFTSMAN AUTOMATION PRIVATE LIMITED	Nominee director	21-08-2012	02-08-2012	-	Active	NO
4	U45203PY2006PTC001945	KARAIKAL PORT PRIVATE LIMITED	Nominee director	30-09-2014	19-12-2013	-	Active	NO
5	U05005TG1995PLC021217	OCEAN SPARKLE LIMITED	Additional director	25-12-2013	25-12-2013	-	Active	NO
6	U24120MH1982PLC026867	PRIVI ORGANICS LIMITED	Nominee director	12-09-2014	16-01-2014	-	Active	NO
7	L70200MH2002PLC136849	MAN INFRACONSTRUCTION LIMITED	Nominee director	18-09-2014	10-02-2014	27-11-2014	Active	NO

Name :

Mr. Anuradha Eknath Thakur

Designation :

Additional Director

Address :

B-7 3rd Flr, Bageshree Shankar Ghanekar Mrg, Prabhadevi, Mumbai-400025, Maharashtra, India

Date of Appointment :

20.03.2015

DIN No.:

06702919

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	U27102OR2003PLC007368	PATNAIK STEELS AND ALLOYS LIMITED	Nominee director	23-11-2013	23-11-2013	-	Active	NO
2	U67100MH2010PLC210201	TATA CAPITAL FINANCIAL SERVICES LIMITED	Director	30-03-2015	28-01-2015	-	Active	NO
3	U67190MH2008PLC187552	TATA CAPITAL HOUSING FINANCE LIMITED	Director	30-03-2015	16-02-2015	-	Active	NO
4	U24120MH1982PLC026867	PRIVI ORGANICS LIMITED	Additional director	20-03-2015	20-03-2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. B. S. Shetty
Designation :	Finance Head
Name :	Mr. Ramesh Vishanlal Kathuria
Designation :	Secretary
Address :	Shilp-2, Flat No. 504 , The Residency CHS, L.B.S. Marg, Thane – 400603, Maharashtra, India
Date of Birth/Age :	15.05.1969
Date of Appointment :	01.07.2006
PAN No.:	AFRPK9121J

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 03.09.2013

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

AS ON 03.09.2013

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	36.84
Bodies corporate	11.16
Directors or relatives of directors	43.76
Other top fifty shareholders	8.24
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Aroma Chemicals.

Products :

ITC Code No.	Product Descriptions
29052290	Dihydromyrcenol
29121900	Citronellol
29142390	Ionones and methylionones
29142990	Amber fluer

Brand Names :

--

Agencies Held :

--

Exports :

Products :

Aroma Chemicals

Countries :

· European Countries

· Middle East

· Asian Countries

· Far East Countries

· Gulf Countries

· UK

· UAE

· USA

Imports :

Products :

Raw Material

Countries :

· Germany

· US

· China

· Korea

· Brazil

· Japan

· South America

Terms :

Selling :

Cheque and Credit (30 days and 60 days)

Purchasing :

Cheque and Credit (30 days and 60 days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

End Users and OEMs

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

1000 (Approximately)

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· DBS Bank Limited

Upper Ground Floor, 25, Barakhamba Road, Birla Tower, New Delhi - 110001,

Delhi, India

· The Ratnakar Bank Limited

Shahupuri, Kolhapur, Kolhapur - 416001, Maharashtra, India

· Bank of Baroda

Princess Street Branch, 185/187, Mulji Jetha Bldg., 1st Floor, Princess Street, Mumbai - 400002, Maharashtra, India

· Kotak Mahindra Bank Limited

Patel Chambers,,

Ground Floor, Sandhurst Bridge, Opera House, Mumbai - 400007, Maharashtra, India

· IDBI Bank Limited

· Punjab National Bank

· Union Bank of India

· HDFC Bank Limited

· Standard Charter Bank

· State Bank of India

Facilities :

Fund=Rs. 1550.000 Million

Non Fund=Rs. 1800.000 Million

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Rupee term loans from banks	219.875	0.000
Foreign currency term loans from banks	359.464	571.097
Long-term maturities of finance lease obligations	7.327	10.743
SHORT TERM BORROWINGS
Working capital loans from banks	738.797	354.328
Other loans and advances, others	584.661	605.874
Total	1910.124	1542.042

Banking Relations :	--
Auditors :
Name :	BSR Associates Chartered Accountants
Address :	Lodha Excelus, 1^st Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAIFB7355D
Memberships :	--
Collaborators :	--
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· Satguru Construction Company Private Limited, India (U70100MH1987PTC042650) · Vivira Chemical Industries · Vivira Chemicals Private Limited · Privi Life Science Private Limited, India (U24239MH1990PTC057075) · Minar Organics Private Limited, India (U24110MH1994PTC075907) · Satguru Enterprises Private Limited, India (U51900MH1991PTC059819) · Money Mart Securities Private Limited, India (U67120MH1995PTC086563)
Subsidiary company:	· Privi Biotechnologies Private Limited, India (U74220MH1985PTC037534) · Privi Organics USA Inc

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs. 10/- each	Rs. 400.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14845001	Equity Shares	Rs. 10/- each	Rs. 148.450 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	148.450	148.450	148.450
(b) Reserves & Surplus	1566.386	1448.676	1374.690
(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)	1714.836	1597.126	1523.140
(3) Non-Current Liabilities
(a) Long-term borrowings	678.792	637.532	474.413
(b) Deferred tax liabilities (Net)	86.706	68.107	63.906
(c) Other long term liabilities	0.025	0.025	0.025
(d) long-term provisions	27.842	24.761	21.429
Total Non-current Liabilities (3)	793.365	730.425	559.773
(4) Current Liabilities
(a) Short term borrowings	1323.458	960.202	672.107
(b) Trade payables	1128.846	929.147	1098.095
(c) Other current liabilities	695.599	520.340	398.077
(d) Short-term provisions	70.591	48.604	31.009
Total Current Liabilities (4)	3218.494	2458.293	2199.288
TOTAL	5726.695	4785.844	4282.201
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1837.225	1352.173	1503.517
(ii) Intangible Assets	40.887	16.694	5.510
(iii) Capital work-in-progress	305.093	358.296	30.529
(iv) Intangible assets under development	22.014	40.639	22.314
(b) Non-current Investments	66.414	66.356	66.356
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	243.794	203.285	142.660
(e) Other Non-current assets	66.027	96.346	18.272
Total Non-Current Assets	2581.454	2133.789	1789.158
(2) Current assets
(a) Current investments	1.501	1.501	1.501
(b) Inventories	1356.152	1071.950	1059.570
(c) Trade receivables	1437.913	1261.796	1096.657
(d) Cash and cash equivalents	211.970	159.625	249.199
(e) Short-term loans and advances	137.705	157.183	86.116
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	3145.241	2652.055	2493.043
TOTAL	5726.695	4785.844	4282.201

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	5142.140	4294.580	3837.035
		Other Income	38.697	22.868	53.115
		TOTAL (A)	5180.837	4317.448	3890.150
Less	EXPENSES
		Cost of Materials Consumed	3476.346	3057.401	2844.887
		Purchases of Stock-in-Trade	0.000	9.143	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(134.773)	(163.068)	(209.426)
		Employees benefits expense	207.676	158.490	132.172
		Other expenses	1025.818	757.803	651.388
		TOTAL (B)	4575.067	3819.769	3419.021
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		605.770	497.679	471.129
Less	FINANCIAL EXPENSES (D)		218.637	182.582	146.181
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		387.133	315.097	324.948
Less/ Add	DEPRECIATION/ AMORTISATION (F)		205.338	184.591	130.500
	PROFIT BEFORE TAX (E-F) (G)		181.795	130.506	194.448
Less	TAX (H)		64.085	56.520	58.381
	PROFIT AFTER TAX (G-H) (I)		117.710	73.986	136.067
	EARNINGS IN FOREIGN CURRENCY
		F.O.B. Value of Exports	NA	2876.724	2683.049
	TOTAL EARNINGS		NA	2876.724	2683.049
	IMPORTS
		Raw Materials	NA	NA	2397.729
		Capital Goods	NA	NA	8.734
	TOTAL IMPORTS		NA	NA	2406.463
	Earnings Per Share (Rs.)		7.93	4.98	9.41

PARTICULARS	31.03.2015
Sales Turnover (Approximately)	5580.000

Expected Sales (2015-2016): Rs. 6500.000 Million

The above information has been parted by Mr. B. S. Shetty (Finance Head)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	340.222	312.895	268.284
Cash Generated from Operations	NA	98.660	126.467
Net Cash Flow from (used in) Operations	384.365	98.660	126.467

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	2.29	1.72	3.55
Operating Profit Margin (PBDIT/Sales)	(%)	11.78	11.59	12.28
Return on Total Assets (PBT/Total Assets}	(%)	3.41	3.02	4.67
Return on Investment (ROI) (PBT/Networth)		0.11	0.08	0.13
Debt Equity Ratio (Total Liability/Networth)		1.37	1.20	0.93
Current Ratio (Current Asset/Current Liability)		0.98	1.08	1.13

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	148.450	148.450	148.450
Reserves & Surplus	1374.690	1448.676	1566.386
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1523.140	1597.126	1714.836
Long-term borrowings	474.413	637.532	678.792
Short term borrowings	672.107	960.202	1323.458
CURRENT MATURITIES OF LONG-TERM DEBTS	268.284	312.895	340.222
Total borrowings	1414.804	1910.629	2342.472
Debt/Equity ratio	0.929	1.196	1.366

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	3837.035	4294.580	5142.140
		11.924	19.736

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	3837.035	4294.580	5142.140
Profit	136.067	73.986	117.710
	3.55%	1.72%	2.29%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	Yes
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS

Bench:- Bombay
Lodging No. :	ITXAL/710/2014	Failing Date:-	24/03/2014	Reg. No.:	ITXA/836/2014	Reg. Date:	29/04/2014
Petitioner:-	THE COMMISSIONER OF INCOME TAX		Respondent:-	PRIVI ORGANICS LIMITED
Petn.Adv:-	A R MALHOTRA (I3164)
District:-	MUMBAI
Bench:-	DIVISION
Status:-	Pre - Admitted		Category:-	TAX APPEALS
Last Date:-	19/11/2014		Stage:-
Last Coram:-	ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST
Act. :	Income Tax Act,1961			Under Section: - 260A

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10564874	22/04/2015	25,000,000.00	STANDARD CHARTERED BANK	NARAIN MANZIL, 23, BARAKHAMBA ROAD, DELHI, DELHI - 110001, INDIA	C51452894
2	10564875	22/04/2015	346,500,000.00	STANDARD CHARTERED BANK	NARAIN MANZIL, 23, BARAKHAMBA ROAD, DELHI, DELHI - 110001, INDIA	C51453066
3	10568442	20/03/2015	350,000,000.00	RBL BANK LIMITED	SHAHUPURI,KOLHAPUR,, KOLHAPUR - 416001, MAHARASHTRA, INDIA	C53164323
4	10463697	11/10/2013	83,000,000.00	BANK OF BARODA	PRINCESS STREET BRANCH, 1ST FLOOR,, MULJI JETHA B UILDING, 185/187, PRINCESS STREET,, MUMBAI- 400002, MAHARA SHTRA, INDIA	B90910902
5	10459580	20/09/2013	150,000,000.00	THE RATNAKAR BANK LIMITED	SHAHUPURI,KOLHAPUR,, KOLHAPUR- 41600 1, MAHARASHTRA, INDIA	B89286975
6	10360606	29/05/2012	448,000,000.00	DBS BANK LIMITED	UPPER GROUND FLOOR, 25, BARAKHAMBA ROAD, BIRLA TO WER, NEW DELHI, DELHI - 110001, INDIA	B41620253
7	10288943	02/05/2011	167,660,400.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST , MUMBAI-400013, MAHARASHTRA , INDIA	B13762489
8	10257414	12/11/2010	368,000,000.00	STANDARD CHARTERED BANK	23, NARAILAN MANZIL, BARKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA	A98873672
9	10095029	20/05/2015 *	898,000,000.00	BANK OF BARODA	PRINCESS STREET BRANCH, 185/187, MULJI JETHA BLDG. , 1ST FLOOR, PRINCESS STREET,, MUMBAI- 400002, MAHARASHTR A, INDIA	C57469363
10	10078044	05/09/2007	34,000,000.00	PUNJAB NATIONAL BANK	ILLACO HOUSE,, SIR P.M. ROAD, MUMBAI, MAHARASHTRA-400001 , INDIA	A26388710

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Borrowing from government semi-government bodies	3.120	3.744
Deferred payment liabilities	51.506	51.948
Loans and advances from directors	37.500	0.000
Total	92.126	55.692

COMPANY OVERVIEW:

Privi Organics Limited (Privi,or the Company) is manufacturer, supplier and exporter of aroma chemicals. Privi started manufacturing aroma chemicals in the year 1992 with only two products, which it gradually expanded to a range of over 50 products.Privi also develops and produces custom-made aroma chemicals as per specific requirement of the customer. The Companys manufacturing units are located at Mahad. Privis in-house Research and Development centre has been accorded recognition by the Department of Scientific and Industrial Research.

FINANCIAL AND OPERATIONAL REVIEW:

The global recessionary trend witnessed in the previous year continued during the current year as well. The growth of the world economy slipped from 3.9% in 2011 to just 3.1% in 2012 (corresponding to financial year ending 31/03/2012 and 31/03/2013 respectively). Currency volatility resulted in forex losses and led to profit erosion. The Company, under the above scenario has still been able to achieve a Profit before Tax of Rs. 181.795 Million, net of Forex Losses. (Previous Year Rs. 130.506 Million).

The Company achieved a net sales turnover of Rs. 5133.769 Million (Previous year Rs. 4236.304 Million) registering a growth of 21%. While the export sales turnover showed a growth by 22%, the local sales turnover grew by 17.74%.

The Company’s net worth as on March 31, 2014 was Rs. 1714.836 Million, with paid-up capital of Rs.148.451 Million and accumulated reserves and surplus of Rs. 1566.386 Million.

MANAGEMENT DISCUSSION AND ANALYSIS:

Global growth to accelerate

Global economic and chemical output growth will accelerate in 2014. With improving economic prospects, headline growth for chemicals globally will improve to 3.8% in 2014, That number is up from expected global growth of 2.4% in 2013.

The strongest growth will continue to be in the developing nations of Asia, the Middle East, and Latin America, Due to competitive advantages from shale gas, growth will be strong in North America as well. Western Europe and Japan will lag. With strengthening production volumes, global capacity utilization will improve in the years to come.

The overall world economy is likely to emerge from its extended soft patch of the last two years thanks to the easing of the twin headwinds of private-sector deleveraging and public-sector austerity, the global growth rebound is likely to be quite modest, IHS expects 3.3% growth in 2014 compared with 2.5% in 2013.

The good news is that the upside surprises about growth may more than balance out downside surprises, provided some of the more daunting risks facing the world economy, such as an oil shock, do not materialize. US chemical makers are firmly back in the game; thanks to the cost advantage enabled by low-cost shale feed stocks, according to Swift. US chemical production is expected to rise 2.5% in 2014 and 3.5% in 2015, Swift says, following a decade of lost competitiveness; American chemistry is reemerging as a growth industry.

US chemicals production will grow strongly through the second half of the decade, as nearly $100 billion in new chemical investment announced since 2010 comes online. During the second half of the decade, US chemistry growth is expected to expand at a pace of over 4% per year on an average, a rate that exceeds that of the overall US economy,

The total value of shipments will advance at a slightly stronger pace than production, with shipments values set to exceed $1 trillion in 2018, up from $789 billion in 2013. The forecast growth rates are the highest for the industry in more than 20 years. Excluding pharmaceuticals, US [chemical] growth has averaged less than 1%/year since the early 1990s; this is going to be a real step-up from that level. US chemicals production, excluding pharmaceuticals was up 3.2% in 2013 but the growth is expected to slow to 2.6% in 2014. Specialties and agricultural chemicals is anticipated to drag down the rate in 2014 after advancing strongly the two years prior. Basic chemicals are expected to grow 2.4% in 2014, up from 1.2% in 2013. Chemicals production growth excluding pharmaceuticals is estimated to be 3.5% in 2015, 3.8% in 2016, and 4.0% in 2019. US exports will ramp up sharply as production comes online. Exports of chemicals are estimated to grow 6.6% in 2014 to $205 billion and further 7.6% in 2015. Excluding pharmaceuticals, the surplus in chemicals trade is estimated to grow to $ 67.5 billion by 2018, up from $ 42.7 billion in 2013, an average growth of 9.6%/year.

The expansion is also reversing the industrys falling employment trend. Employment in the chemical industry will have grown by 1.3% in 2013 and is to continue to expand through 2018. This growth contrasts with the continuous decline overall in industrial employment between 1999 and 2011.

OUTLOOK:

The Company, having achieved a growth of over 21% over the previous year, continues to experience a slowdown in demand for its products particularly in Europe. Presently, the same is further burdened with customs duty of 5.5-6.5% from January 2014 on all imports of chemicals covered under chapter 29 under which chemicals produced by Privi also fall. But the good news is that USA has begun its recovery and looks promising for the year ahead. The demand in Latin America & particularly in Asia counties continues to be very buoyant. Large buyers like Firmenich, Givaudan, Henkel and P&G are seeing positive signs in terms of business momentum for the year 2014-15. The demand for consumer products continues to be strong in Brazil, India, China and other Asian Countries from where the top five fragrance houses continue to see their growth. Demand for consumer products in developed nations such as Europe and Japan continues to be resilient.

The Company sees its growth coming from key accounts in emerging and developing countries and its product mix will enable the Company to increase its share of revenue coming from speciality aroma chemicals.

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Leasehold Improvements

Intangible Assets

· Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 65.22
UK Pound	1	Rs. 102.23
Euro	1	Rs. 72.39

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	DIV
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.