MIRA INFORM REPORT

Report No. :	338498
Report Date :	28.08.2015

IDENTIFICATION DETAILS

Name :	SAFINTRA ROOFING INDIA LIMITED
Registered Office :	Sultania House, 18, Subhash Road, Vile Parle (East), Mumbai – 400057, Maharashtra
Tel. No.:	91-22-42489696
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.07.2008
Com. Reg. No.:	11-185250
Capital Investment / Paid-up Capital :	Rs. 30.000 Million
CIN No.: [Company Identification No.]	U74900MH2008PLC185250
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMS6289E
PAN No.: [Permanent Account No.]	AAMCS2868P
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of manufactures and supply profiled steel proof sheets in various materials and manufacturers all the accessory items to complete an entire roofs.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 100000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated during the year 2008 having a moderate track record. For the financial year ended 2014, turnover and profit of the company has declined. It has also achieved low profitability during the year under a review. Further the rating takes into consideration low reserves level and unfavorable gap between trade payable and trade receivable. However, trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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. Nikunj Shah
Designation :	Director
Contact No.:	91-22-42489696
Date :	27.08.2015

LOCATIONS

Registered Office :	Sultania House, 18, Subhash Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India
Tel. No.:	91-22-42489696
Fax No.:	Not Available
E-Mail :	nikuj.shah@safintra.in

DIRECTORS

AS ON 13.10.2014

Name :

Ajay Pratapray Shanghavi

Designation :

Director

Address :

Pushpakunj Station Road, Wadala, Mumbai, 400031, Maharashtra, India

Date of Birth/Age :

08.03.1962

Date of Appointment :

13.10.2014

DIN No.:

00084653

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	U51101GJ1984PTC006836	GREAT NUTRITION FOODS PRIVATE LIMITED	Director	16/05/1994	16/05/1994	30/04/2009	Amalgamated	NO
2	U67120MH1995PTC089767	PURSE HOLDINGS (INDIA) PRIVATE LIMITED	Director	20/06/1995	20/06/1995	-	Active	NO
3	U27100GJ1986PTC008424	GUJARAT NIPPON ENTERPRISES PRIVATE LIMITED	Director	23/03/1996	23/03/1996	01/06/2015	Active	NO
4	U92312GJ1995PTC057690	MAGIC BOX PRODUCTIONS PRIVATE LIMITED.	Director	26/07/1996	26/07/1996	-	Active	NO
5	U29299GJ1998PTC034873	VINPACK (INDIA) PRIVATE LIMITED	Director	23/10/1998	23/10/1998	26/10/2009	Active	NO
6	U15131GJ1998PTC035097	VINPACK AGRO PRIVATE LIMITED	Director	10/12/1998	10/12/1998	26/10/2009	Strike off	NO
7	U25209GJ2001PTC058387	METROOF INDIA PRIVATE LIMITED	Director	02/03/2001	02/03/2001	30/04/2009	Amalgamated	NO
8	U25202GJ2001PTC039292	CYKLOP (INDIA) PRIVATE LIMITED	Director	07/03/2001	07/03/2001	12/03/2009	Active	NO
9	U92100MH1996PTC102526	IN HOUSE STUDIO PRIVATE LIMITED	Director	26/03/2001	26/03/2001	-	Active	NO
10	U92100MH1997PTC107422	METALIGHT PRODUCTIONS PRIVATE LIMITED	Director	04/06/2001	04/06/2001	-	Active	NO
11	U72200KA2000PTC027349	MAINSTAY TELESERVICES PRIVATE LIMITED	Director	05/10/2001	05/10/2001	19/03/2014	Active	NO
12	U92130MH2000PTC124170	NEWAGE ENTERTAINMENT PRIVATE LIMITED	Director	15/02/2002	15/02/2002	-	Active	NO
13	U67120MH2002PTC135257	ZENEXT ADVISORS PRIVATE LIMITED	Director	29/09/2003	29/09/2003	-	Amalgamated	NO
14	U24230GJ1994PTC024024	PEJA HYDROTEC PRIVATE LIMITED	Director	09/02/2004	09/02/2004	01/03/2012	Active	NO
15	U92199MH2004PTC147343	COLAL APPARELS PRIVATE LIMITED	Director	06/07/2004	06/07/2004	30/04/2009	Amalgamated	NO
16	U92110MH2004PTC147356	INTELLIPACK SOLUTIONS PRIVATE LIMITED	Director	07/07/2004	07/07/2004	-	Amalgamated	NO
17	U51900MH2004PTC149572	GUJARAT NIPPON INTERNATIONAL PRIVATE LIMITED	Director	18/11/2004	18/11/2004	-	Active	NO
18	U92411MH2004PTC149686	CF HYDROTEC PRIVATE LIMITED	Director	25/11/2004	25/11/2004	01/07/2007	Active	NO
19	U40100MH2004PTC149723	CF COGEN PRIVATE LIMITED	Director	30/09/2009	29/11/2004	07/03/2012	Active	NO
20	U51220MH2000PTC129864	GOURMET LOGISTICS PRIVATE LIMITED	Director	30/09/2011	02/03/2005	-	Active	NO
21	U25209GJ1989PTC057693	UNITED BRISTLERS AND BRUSHES P LTD	Director	05/03/2005	05/03/2005	-	Amalgamated	NO
22	U92112MH2006PTC158970	INHOUSE CREATIONS PRIVATE LIMITED	Director	13/01/2006	13/01/2006	-	Amalgamated	NO
23	L72900MH1983PLC030920	United Interactive Limited	Director	30/01/2006	30/01/2006	-	Active	NO
24	U72900MH1999PTC120090	MAGNET TECHNOLOGIES PRIVATE LIMITED	Director	09/06/2006	09/06/2006	-	Active	NO
25	U71110MH2003PTC141500	CARTOLERIA RETAILING PRIVATE LIMITED	Director	07/10/2006	07/10/2006	21/03/2015	Active	NO
26	U74140MH2006PTC166566	Toddlers Activity Centre Private Limited	Director	28/12/2006	28/12/2006	-	Active	NO
27	U31401MH2007PTC168654	CLEAN ENERGY DEVELOPMENT CORPORATION PRIVATE LIMITED	Director	13/03/2007	13/03/2007	11/12/2009	Active	NO
28	L64200MH1993PLC072379	IN HOUSE PRODUCTIONS LIMITED	Managing director	26/07/2007	24/04/2007	-	Active	NO
29	U29253MH2007PTC171228	CF CORPORATION PRIVATE LIMITED	Director	31/05/2007	31/05/2007	-	Active	NO
30	U24129TN2007PTC064522	NEO NEEM EXTRACTIONS PRIVATE LIMITED	Director	24/08/2007	24/08/2007	-	Active	NO
31	U25200GJ1997PTC057689	LOGIC PLASTICS PRIVATE LIMITED	Director	31/12/2007	31/12/2007	-	Active	NO
32	U72200TN2007PTC062498	NIHON TECHNOLOGY PRIVATE LIMITED	Director	17/01/2008	17/01/2008	-	Active	NO
33	U40107MH2008PTC177883	CF Energy And Biofuels Private Limited	Director	17/01/2008	17/01/2008	11/11/2011	Active	NO
34	U36997GJ2004PTC044965	ZEST TOOTH BRUSH PRIVATE LIMITED	Director	28/09/2009	30/04/2008	-	Amalgamated	NO
35	U27100MH1994PTC080471	KEY PRODUCTS PRIVATE LIMITED	Director	23/07/2009	30/04/2008	31/03/2015	Active	NO
36	U40300GJ1991PTC057692	CF BIOMASS PRIVATE LIMITED	Director	26/09/2011	30/04/2008	01/03/2012	Active	NO
37	U15122MH2008PTC182892	CF Foods Private Limited	Additional director	28/09/2009	30/05/2008	11/12/2009	Active	NO
38	U32204MH2008PTC183053	Control & Applications Automation India Private Limited	Director	02/06/2008	02/06/2008	25/01/2010	Active	NO
39	U74140HR2007PTC036586	SCIENTIFIC PROPERTY ADVISORY COMPANY PRIVATE LIMITED	Director	30/09/2009	21/01/2009	03/06/2010	Active	NO
40	U25202GJ2006PTC048135	HI-END PACKAGING PRIVATE LIMITED	Director	22/01/2009	22/01/2009	31/03/2015	Active	NO
41	U40101MH2010PTC201237	CF Renewable Energy Private Limited	Director	24/03/2010	24/03/2010	01/03/2012	Strike off	NO
42	U40103HP1999PTC022653	HATESHWARI OM POWER ENTERPRISES PRIVATE LIMITED	Additional director	12/08/2010	12/08/2010	12/04/2012	Active	NO
43	U65190MH1992PLC066228	MUTHOOT MICROFIN LIMITED	Director	09/09/2011	05/10/2010	23/01/2012	Active	NO
44	U85100MH2010PTC207925	Glaxia Healthcare & Foods Private Limited	Additional director	20/10/2010	20/10/2010	25/03/2011	Active	NO
45	U55101MH2010PTC209804	MURUD HOLIDAY RESORTS PRIVATE LIMITED	Director	03/11/2010	03/11/2010	31/03/2015	Active	NO
46	U40300GJ1994PTC057691	CF ENERGY INDIA PRIVATE LIMITED	Director	26/09/2011	18/03/2011	01/03/2012	Active	NO
47	U40300MH2010PTC201247	CF Biotec Gujarat Private Limited	Director	24/09/2011	18/03/2011	01/03/2012	Active	NO
48	U85100MH2009PTC189963	VERVE BEAUTY & FITNESS PRIVATE LIMITED	Director	30/09/2011	20/04/2011	-	Active	NO
49	U72100MH1990PTC055144	FOUNDATION SOFTWARE ASSOCIATES PRIVATE LIMITED	Additional director	06/09/2011	06/09/2011	15/06/2012	Strike off	NO
50	U25200GJ1989PLC012672	PARIXIT INDUSTRIES LIMITED	Alternate director	24/09/2012	18/06/2012	-	Active	NO
51	U55100MH2005PTC151128	DENOVO ENTERPRISES PRIVATE LIMITED	Additional director	25/06/2014	25/06/2014	-	Active	NO
52	U74900MH2008PLC185250	SAFINTRA ROOFING (INDIA) LIMITED	Director	13/10/2014	13/10/2014	-	Active	NO

Name :

Nikunj Narendra Shah

Designation :

Managing Director

Address :

702 United Classic, 84 Dr. Peter Dias Road, Bandra (W), Mumbai, 400050, Maharashtra, India

Date of Birth/Age :

05.02.1974

Date of Appointment :

13.03.2015

DIN No.:

02716012

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	U18101MH1999PTC122123	DATUM HINDUSTAN PRIVATE LIMITED	Director	15/09/2009	15/09/2009	10/12/2013	Active	NO
2	U74999PN2000PTC015029	EQUATORIAL ENTERPRISES PRIVATE LIMITED	Nominee director	15/09/2009	15/09/2009	11/03/2013	Active	NO
3	U74900MH2008PLC185250	SAFINTRA ROOFING (INDIA) LIMITED	Managing director	13/03/2015	09/12/2013	-	Active	NO

Name :

Sarit Shah

Designation :

Nominee Director

Address :

41 - On Kent, 46b Bompas Road, 00000219- 00003, Dunkeld, South Africa, Dunkeld, 0, South Africa

Date of Birth/Age :

16.12.1966

Date of Appointment :

14.06.2012

DIN No.:

05299389

Name :

Murali Srinivasacharya

Designation :

Director

Address :

Flat B 16, Shree Sukhakarta Palace, Yashwant Nagar, Opposite Fame Cinema, Off Nashik-Pune Road, Nashik – 422011, Maharashtra, India

Date of Appointment :

15.06.2015

DIN No.:

05356509

MAJOR SHAREHOLDERS

AS ON 13.10.2014

Names of Shareholders	No. of Shares
Navin Chandra Hegde	1
Soni Navin Hegde	1
Sovin Navin Hegde	1
Octamec Engineering Limited, India	1499997
Ajay Shanghavi	1
Harsh Maheshwari	1
Safal Africa Limited, India	1499996
Ashish Dilawani	1
Tifan Investment S.A.	1
Total	3000000

Equity Share Break up (Percentage of Total Equity)

AS ON 13.10.2014

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	49.99
Bodies corporate	49.99
Directors or relatives of Directors	0.01
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of manufactures and supply profiled steel proof sheets in various materials and manufacturers all the accessory items to complete an entire roofs.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

Reference :	Not Divulged
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 :	Not Divulged
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 :

Information declined by the management

Bankers :

Banker Name	Not Divulged
Branch Address	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 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
Hire Purchasing Refinancing loan from Leasing Company Limited	0.000	2.522
Total	0.000	2.522

Auditors :
Name :	Walker Chandlok and Company LLP Chartered Accountant
Address :	16^th Floor, Tower II, India Bulls Finance Centre, S B Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India
Tel. No.:	91-22-66262600
Fax No.:	91-22-66262601
PAN No.:	AAAFW4298E
Memberships :	--
Collaborators :	--
Enterprises where control exists :	Safal Africa Limited Octamac Engineering Limited Octamac Building Systems Limited Safintra Roofing Island and Steel Private Limited Safal Steel Private Limited Safintra Dibouti SARL

CAPITAL STRUCTURE

AS ON 13.10.2014

Authorised Capital: Rs. 35.000 Million

Issued, Subscribed & Paid-up Capital: Rs. 35.000 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs. 30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs. 30.000 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	30.000	30.000	30.000
(b) Reserves & Surplus	14.167	13.630	4.474
(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)	44.167	43.630	34.474
(3) Non-Current Liabilities
(a) long-term borrowings	27.028	10.352	13.512
(b) Deferred tax liabilities (Net)	0.629	0.532	1.166
(c) Other long term liabilities	7.135	0.000	0.000
(d) long-term provisions	0.707	0.681	0.000
Total Non-current Liabilities (3)	35.499	11.565	14.678
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	26.879	64.022	47.616
(c) Other current liabilities	15.081	41.213	41.582
(d) Short-term provisions	0.033	3.654	1.190
Total Current Liabilities (4)	41.993	108.889	90.388
TOTAL	121.659	164.084	139.540
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	35.037	35.118	39.612
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.248	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	6.645	5.451	2.416
(e) Other Non-current assets	2.575	2.424	2.346
Total Non-Current Assets	44.505	42.993	44.374
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	45.727	61.626	66.945
(c) Trade receivables	23.959	48.456	12.799
(d) Cash and cash equivalents	4.263	4.353	9.614
(e) Short-term loans and advances	3.205	6.656	5.808
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	77.154	121.091	95.166
TOTAL	121.659	164.084	139.540

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	217.320	309.007	285.670
	Other Income	2.572	0.271	0.154
	TOTAL	219.892	309.278	285.824
Less	EXPENSES
	Cost of Materials Consumed	167.589	235.869	230.075
	Purchases of Stock-in-Trade	8.780	15.660	10.266
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.742)	(1.110)	(4.620)
	Employees benefits expense	8.083	10.075	8.909
	Other expenses	25.138	24.169	18.272
	TOTAL	208.848	284.663	262.902
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	11.044	24.615	22.922
Less	FINANCIAL EXPENSES	4.740	4.600	5.093
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	6.304	20.015	17.829
Less/ Add	DEPRECIATION/ AMORTISATION	5.224	5.688	6.490
	PROFIT BEFORE TAX	1.080	14.327	11.339
Less	TAX	0.543	5.172	3.814
	PROFIT AFTER TAX	0.537	9.155	7.525
	Earnings Per Share (Rs.)	0.179	3.05	2.51

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)	(%)	0.25	2.96	2.63
Operating Profit Margin (PBIDT/Sales)	(%)	5.08	7.97	8.02
Return on Total Assets (PBT/Total Assets}	(%)	0.89	8.73	8.13
Return on Investment (ROI) (PBT/Networth)		0.02	0.33	0.33
Debt Equity Ratio (Total Debt /Networth)		0.61	0.24	0.39
Current Ratio (Current Asset/Current Liability)		1.84	1.11	1.05

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	30.000	30.000	30.000
Reserves & Surplus	4.474	13.630	14.167
Share Application money pending allotment	0.000	0.000	0.000
Net worth	34.474	43.630	44.167
long-term borrowings	13.512	10.352	27.028
Short term borrowings	0.000	0.000	0.000
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	13.512	10.352	27.028
Debt/Equity ratio	0.392	0.237	0.612

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	285.670	309.007	217.320
		8.169	(29.671)

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	285.670	309.007	217.320
Profit	7.525	9.155	0.537
	2.63%	2.96%	0.25%

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	No
17	Details of sister concerns	No
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	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	No
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
Loans from related parties
Safal Africa Limited	18.030	4.079
Octamec Engineering Limited	8.998	3.751
Total	27.028	7.830

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10247682	15/10/2010	13,000,000.00	FIRST LEASING COMPANY OF INDIA LIMITED	749, ANNA SALAI, CHENNAI, Tamil Nadu - 600002, INDIA	A97358956

FIXED ASSETS

• Plant and Machinery
• Office Equipments
• Computers
• Leasehold Improvement
• Electrical Fitting and Equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 66.06
UK Pound	1	Rs. 102.35
Euro	1	Rs. 74.97

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	DIV
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.