MIRA INFORM REPORT

Report No. :	338159
Report Date :	24.08.2015

IDENTIFICATION DETAILS

Name :	SHIVALI UDYOG (I) LIMITED
Registered Office :	Plot No. 3 and 4, Sector-D, Urla Industrial Area, Raipur – 493221, Chhattisgarh
Tel. No.:	91-771-4020355/4025055
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.11.1995
Com. Reg. No.:	010125
Capital Investment / Paid-up Capital :	Rs. 24.933 Million
CIN No.: [Company Identification No.]	U21015CT1995PLC010125
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	JBPS02588F
PAN No.: [Permanent Account No.]	AAACD8194P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of TMT Bar, H.P. Wire.
No. of Employees :	80 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company incorporated during the year 1995. It is the manufacturer of TMT bar. It has a satisfactory track record. For the financial year 2014, the company has healthy operational activity. Although the company has decline in its sales turnover due to significant fall in market demand and heavy fluctuations towards prices, it has maintained its sales turnover and the profitability margin is 2.9%. Further, the company has good capital structure, decent reserves position and favorable gap between trade payables and receivables. Trade relations are reported as fair. Business is active. Payments terms are usually 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 – 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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. Sandip Jain
Designation :	Senior Account Manager
Contact No.:	91-771-2225255
Date :	22.08.2015

LOCATIONS

Registered Office :	Plot No. 3 and 4, Sector-D, Urla Industrial Area, Raipur – 493221, Chhattisgarh, India
Tel. No.:	91-771-4020355/4025055
Mobile No.:	91-8349994082 (Mr. Yadav)
Fax No.:	91-771-4020355/2323252/54
E-Mail :	vandanaispat@gmail.com
Website :	http://www.vandanasteel.com
Location :	Owned
Factory :	Vandana Building, M.G. Road, Raipur – 492001, Chhattisgarh, India
Tel. No.:	91-771-4030255
Fax No.:	91-771-2233023

DIRECTORS

AS ON 30.09.2014

Name :

Vinod Kumar Agrawal

Designation :

Director

Address :

31/291, Civil Lines, Opp. Telephone Exchange, Raipur, 492001, Chhattisgarh, India

Date of Birth/Age :

01.06.1960

Date of Appointment :

19.06.2002

DIN No.:

00031482

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	U27106CT1989PLC005557	VANDANAA UDHYOG LIMITED	Additional director	07/10/2008	01/09/1991	18/11/2008	Active	NO
2	U51109WB1993PTC060424	ILU BISHAR EXPORTS PVT.LTD.	Director	14/03/1994	14/03/1994	-	Amalgamated	NO
3	U51909WB1991PTC053047	MAHAN COMMERCE & FINVEST PVT. LTD.	Director	12/02/1996	12/02/1996	-	Amalgamated	NO
4	U51909WB1994PTC064417	DUNSON BYAPAR PVT LTD	Director	04/08/1996	04/08/1996	31/07/2012	Active	NO
5	U51109WB1992PTC055092	ASHOKA IMPEX & FISCAL PVT. LTD.	Director	31/08/1996	31/08/1996	-	Amalgamated	NO
6	U21015CT1995PLC010125	SHIVALI UDYOG (I) LIMITED	Director	01/04/2011	19/06/2002	-	Active	NO
7	U51909WB1996PLC079718	SHINSON INDIA LTD	Director	10/11/2002	10/11/2002	-	Amalgamated	NO
8	U04520CT2005PTC017941	R.N. NAVNIRMAN PRIVATE LIMITED	Director	07/09/2005	07/09/2005	31/07/2012	Active	NO
9	U51909WB1995PTC069480	VICONIC VYAPAAR PVT.LTD.	Director	05/09/2006	05/09/2006	-	Active	NO
10	U04010CT1995PLC010142	VANDANA VIDHYUT LIMITED	Managing director	01/03/2013	20/02/2007	-	Active	NO
11	U65921CT1989PTC005310	VANDANAA ENERGY AND STEELS PRIVATE LIMITED	Director	01/05/2007	01/05/2007	30/09/2012	Active	NO
12	U10102CT2008PTC020640	FATEHPUR EAST COAL PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
13	L70109WB1982PLC035056	MSD PROPERTIES LTD	Additional director	26/08/2008	26/08/2008	01/02/2009	Active	NO
14	U27101CT2008PLC020918	VANDANAA ISPAT & POWER LIMITED	Director	10/11/2008	10/11/2008	31/07/2012	Active	NO
15	U40100CT2008PLC020919	VANDANAA ENERGY & MINERALS LIMITED	Director	10/11/2008	10/11/2008	31/07/2012	Active	NO
16	U51109MH2010PTC200665	SINGHAL GENERAL TRADERS PRIVATE LIMITED	Director	09/03/2010	09/03/2010	31/07/2012	Active	NO
17	U51109MH2010PTC200771	R.N. COMMOTRADE PRIVATE LIMITED	Director	11/03/2010	11/03/2010	29/03/2014	Active	NO
18	U40105MH2010PTC205026	VANDANAA POWER INFRATECH PRIVATE LIMITED	Director	29/06/2010	29/06/2010	20/10/2011	Active	NO
19	U51101MH1996PLC219948	VANDANA GLOBAL LIMITED	Additional director	15/07/2010	15/07/2010	08/09/2011	Active	NO

Name :

Ashok Kumar Agrawal

Designation :

Director

Address :

Vandana Building, M.G. Road, Raipur, 492001, Chhattisgarh, India

Date of Birth/Age :

05.06.1962

Date of Appointment :

19.06.2002

DIN No.:

00591859

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	U27106CT1989PLC005327	VANDANA FORGINGS LIMITED	Director	25/06/1989	25/06/1989	-	Active	NO
2	U51109WB1992PTC055092	ASHOKA IMPEX & FISCAL PVT. LTD.	Director	02/04/1992	02/04/1992	-	Amalgamated	NO
3	U51909WB1994PTC064417	DUNSON BYAPAR PVT LTD	Director	09/08/1994	09/08/1994	-	Active	NO
4	U51109WB1994PTC065640	PRAN COMMERCIAL PVT LTD	Director	26/10/1994	26/10/1994	-	Amalgamated	NO
5	U26954CT1985PLC003085	VANDANA ROLLING MILLS LIMITED	Director	01/04/2009	23/11/1994	-	Active	NO
6	U27106CT1995PLC008909	VANDANA ISPAT LIMITED	Whole-time director	01/12/2013	03/01/1995	-	Active	NO
7	U51101CT1995PTC009242	SINGHAL DISTRIBUTORS PRIVATE LIMITED	Director	28/03/1995	28/03/1995	-	Active	NO
8	U51109WB1991PTC051115	A.K. MERCANDISE PVT. LTD.	Director	24/05/2002	24/05/2002	-	Amalgamated	NO
9	U21015CT1995PLC010125	SHIVALI UDYOG (I) LIMITED	Director	19/06/2002	19/06/2002	-	Active	NO
10	U55101CT1996PTC010735	SHIKHAR AMUSEMENTS PRIVATE LIMITED	Director	25/08/2003	25/08/2003	-	Active	NO
11	U25202CT1993PLC007901	VANDANA INDUSTRIES LIMITED	Director	31/03/2006	31/03/2006	21/08/2012	Active	NO
12	U27101CT2008PLC020918	VANDANAA ISPAT & POWER LIMITED	Director	10/11/2008	10/11/2008	-	Active	NO
13	U40100CT2008PLC020919	VANDANAA ENERGY & MINERALS LIMITED	Director	10/11/2008	10/11/2008	-	Active	NO
14	U40105MH2010PTC205026	VANDANAA POWER INFRATECH PRIVATE LIMITED	Director	29/06/2010	29/06/2010	20/10/2011	Active	NO
15	U51101MH1996PLC219948	VANDANA GLOBAL LIMITED	Additional director	15/07/2010	15/07/2010	01/03/2011	Active	NO
16	U51109WB2008PTC123303	JASMINE VINCOM PRIVATE LIMITED	Director	01/07/2011	01/07/2011	-	Active	NO
17	U51109WB2008PTC123357	BLACKBERRY VYAPAAR PRIVATE LIMITED	Director	01/07/2011	01/07/2011	-	Active	NO
18	U31104WB1989PLC046491	ARM GASES LTD.	Director	01/07/2011	01/07/2011	-	Active	NO
19	U51109WB2007PTC113061	MONITOR VYAPAAR PRIVATE LIMITED	Director	01/11/2011	01/11/2011	-	Active	NO
20	U51909WB2007PTC117909	ULTIMATE VINIMAY PRIVATE LIMITED	Director	01/11/2011	01/11/2011	-	Active	NO
21	U85195CT2010PTC021611	GANGA DIAGNOSTIC & MEDICAL RESEARCH CENTRE PRIVATE LIMITED	Director	24/01/2012	24/01/2012	-	Active	NO

Name :

Pratham Agrawal

Designation :

Director

Address :

Vandana Building,H. No. 27/607,, M.G. Road,, Raipur, 492001, Chhattisgarh, India

Date of Appointment :

20.06.2014

DIN No.:

03544833

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	U51109WB1995PTC070373	MANUSH COMMODITIES PVT. LTD.	Director	14/06/2011	14/06/2011	01/05/2012	Active	NO
2	U51909WB1994PTC064417	DUNSON BYAPAR PVT LTD	Director	31/07/2012	31/07/2012	-	Active	NO
3	U27106CT1989PLC005327	VANDANA FORGINGS LIMITED	Director	31/07/2012	31/07/2012	-	Active	NO
4	U51909WB1994PTC064418	GALAXEE LIOSIONING PVT LTD	Director	31/07/2012	31/07/2012	-	Active	NO
5	U27101CT2008PLC020918	VANDANAA ISPAT & POWER LIMITED	Director	29/08/2012	29/08/2012	-	Active	NO
6	U04520CT2005PTC017941	R.N. NAVNIRMAN PRIVATE LIMITED	Director	29/08/2012	29/08/2012	-	Active	NO
7	U40100CT2008PLC020919	VANDANAA ENERGY & MINERALS LIMITED	Director	29/08/2012	29/08/2012	-	Active	NO
8	U51109MH2010PTC200665	SINGHAL GENERAL TRADERS PRIVATE LIMITED	Director	29/08/2012	29/08/2012	29/03/2014	Active	NO
9	U55101CT1996PTC010735	SHIKHAR AMUSEMENTS PRIVATE LIMITED	Whole-time director	01/12/2012	01/12/2012	-	Active	NO
10	U65921CT1989PTC005310	VANDANAA ENERGY AND STEELS PRIVATE LIMITED	Director	01/03/2013	01/03/2013	30/06/2013	Active	NO
11	U21015CT1995PLC010125	SHIVALI UDYOG (I) LIMITED	Director	20/06/2014	20/06/2014	-	Active	NO

Name :

Romelal Yadav

Designation :

Whole-Time Director

Address :

Hig-540, Veersawarkar Nagar, Hirapur, Raipur, 492099, Chhattisgarh, India

Date of Appointment :

01.08.2014

DIN No.:

06935015

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	U21015CT1995PLC010125	SHIVALI UDYOG (I) LIMITED	Whole-time director	01/08/2014	01/08/2014	-	Active	NO
2	U27106CT1995PLC008909	VANDANA ISPAT LIMITED	Director	28/03/2015	28/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sandip Jain
Designation :	Senior Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

SHAREHOLDING DETAILS FILE ATTACHED.

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Bodies corporate	61.00
Directors or relatives of Directors	35.00
Other top fifty shareholders	4.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of TMT Bar, H.P. Wire.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	L/C and Credit
Purchasing :	L/C and Credit

GENERAL INFORMATION

Suppliers :

Not Divulged

Reference :	Bhilai Steel Plane – Bhilai
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Not Divulged

Reference :	Agarwal Structure Mills Private Limited – Raipur
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

80 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Commerical Branch, Raipur, Chhattisgarh, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from banks	5.739	0.152
SHORT TERM BORROWING
Working capital loans from banks	233.893	223.026
Total	239.632	223.178

Auditors :
Name :	Bamb Taori and Company Chartered Accountants
Address :	B-36/5, Shaliendra Nagar, Raipur – 492001, Chhattisgarh, India
PAN No.:	AACFB6620M
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 Million
500000	Preference Shares	Rs. 10/- each	Rs. 5.000 Million
	Total		Rs. 25.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1993360	Equity Shares	Rs.10/- each	Rs. 19.933 Million
500000	Preference Shares	Rs. 10/- each	Rs. 5.000 Million
	Total		Rs. 24.933 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	24.933	24.933	0.510
(b) Reserves & Surplus	366.995	358.492	20.190
(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)	391.928	383.425	20.700
(3) Non-Current Liabilities
(a) long-term borrowings	105.739	100.152	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.054	0.284	0.000
Total Non-current Liabilities (3)	105.793	100.436	0.000
(4) Current Liabilities
(a) Short term borrowings	233.893	223.026	0.115
(b) Trade payables	18.385	21.413	0.000
(c) Other current liabilities	7.667	13.674	0.512
(d) Short-term provisions	0.117	0.004	0.000
Total Current Liabilities (4)	260.062	258.117	0.627
TOTAL	757.783	741.978	21.327
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	52.256	51.509	0.017
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	11.019	10.373	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	239.028	274.543	10.325
(c) Deferred tax assets (net)	5.360	-3.895	0.002
(d) Long-term Loan and Advances	12.911	13.528	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	320.574	346.058	10.344
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	49.007	71.209	0.000
(c) Trade receivables	256.996	280.863	0.000
(d) Cash and cash equivalents	2.859	8.071	0.092
(e) Short-term loans and advances	20.073	34.654	10.891
(f) Other current assets	108.274	1.123	0.000
Total Current Assets	437.209	395.920	10.983
TOTAL	757.783	741.978	21.327

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	291.188	887.602	1027.024
	Other Income	74.393	25.892	17.136
	TOTAL	365.581	913.494	1044.160
Less	EXPENSES
	Cost of Materials Consumed	242.635	726.357	886.977
	Purchases of Stock-in-Trade	0.000	32.103	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	15.797	27.953	(9.497)
	Employees benefits expense	7.041	10.458	11.084
	Other expenses	53.335	69.869	105.295
	TOTAL	318.808	866.740	993.859
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	46.773	46.754	50.301
Less	FINANCIAL EXPENSES	37.081	35.756	35.346
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	9.692	10.998	14.955
Less/ Add	DEPRECIATION/ AMORTISATION	8.457	7.846	9.141
	PROFIT BEFORE TAX	1.235	3.152	5.814
Less	TAX	(7.336)	1.512	2.735
	PROFIT AFTER TAX AND BEFORE PRIOR PERIOD ITEMS	8.571	1.640	3.079
	PRIOR PERIOD ITEMS	0.068	0.012	0.003
	PROFIT FOR THE YEAR	8.503	1.627	3.076
	Earnings Per Share (Rs.)	3.44	0.66	1.23

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	2.94	0.18	0.30
Operating Profit Margin (PBIDT/Sales)	(%)	16.06	5.27	4.90
Return on Total Assets (PBT/Total Assets}	(%)	0.25	0.68	52.85
Return on Investment (ROI) (PBT/Networth)		0.00	0.01	0.28
Debt Equity Ratio (Total Debt /Networth)		0.87	0.84	0.01
Current Ratio (Current Asset/Current Liability)		1.68	1.53	17.52

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	0.510	24.933	24.933
Reserves & Surplus	20.190	358.492	366.995
Share Application money pending allotment	0.000	0.000	0.000
Net worth	20.700	383.425	391.928
long-term borrowings	0.000	100.152	105.739
Short term borrowings	0.115	223.026	233.893
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	0.115	323.178	339.632
Debt/Equity ratio	0.006	0.843	0.867

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	1027.024	887.602	291.188
		(13.575)	(67.194)

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	1027.024	887.602	291.188
Profit	3.079	1.640	8.571
	0.30%	0.18%	2.94%

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	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
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	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
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

UNSECURED LOAN

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
From body corporates	100.000	100.000
Total	100.000	100.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10522054	26/08/2014	103,500,000.00	State Bank Of India	Commercial Branch, 2nd Floor, Pujari Chambers, Pachpedi Naka, Raipur, Chhattisgarh - 492001, INDIA	C22457691

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Computer
• Furniture and Fixture
• Plant and Machinery
• Office Equipments
• Tools and 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. 65.83
UK Pound	1	Rs. 103.39
Euro	1	Rs. 74.27

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	TRI
Report Prepared by :	JYO

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
--PROFITABILITY	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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.