MIRA INFORM REPORT

Report No. :	354145
Report Date :	09.12.2015

IDENTIFICATION DETAILS

Name :	JV CONBUILD PRIVATE LIMITED

Registered Office :	Survey No.438/P, Opposite Intas Pharmaceuticals, Sarkhej-Bavla Road, Village Matoda, Ahmedabad-382213, Gujarat
Tel. No.:	91-79-65434343

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	12.05.2011

Com. Reg. No.:	04-065406

Capital Investment / Paid-up Capital :	Rs. 0.400 Million

CIN No.: [Company Identification No.]	U45200GJ2011PTC065406

IEC No.:	0814011314

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AACCJ5931C

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in Manufacturing and trading of all kind of laminated packing materials and allied products. (Registered Activity)

No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING

STATUS

PROPOSED CREDIT LINE

11-25

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

Status :	Moderate

Payment Behavior :	Slow

Litigation :	Clear

Comments :	Subject was incorporated in the year 2011. The company has started manufacturing activity of paper lamination and packaging materials in the month of April 2013. Management has failed to file its financial for FY15 with Registrar of Companies. The company’s networth has been eroded. In has recorded hefty debt levels. However, business is active. Payment terms are slow. The company can be considered for business dealings on safe and secured 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

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Ketan Acharya
Designation :	Chief Accountant
Contact No.:	91-9727753498
Date :	08.12.2015

LOCATIONS

Registered Office :	Survey No.438/P, Opposite Intas Pharmaceuticals, Sarkhej-Bavla Road, Village Matoda, Ahmedabad-382213, Gujarat, India
Tel. No.:	91-79-65434343
Mobile No.:	91-9727753498 (Mr. Ketan) 91-9909991999 (Mr. Tanuj)
Fax No.:	91-79-27475936
E-Mail :	jvconbuild@gmail.com saket_kumar.nayak@sbi.co.in
Location :	Rented
Locality:	Industrial

Factory:	JVC 148, Sarkhej Bawla Road, Village Chancharwadi, Ahmadabad – 382213, Gujarat, India
Location :	Rented
Locality:	Industrial

DIRECTORS

As on: 30.09.2014

Name :

Mr. Sandeep Bajaj

Designation :

Director

Address :

C-582, New Friends Colony, New Delhi, 110065, Delhi, India

Date of Birth/Age :

15.05.1968

Date of Appointment :

16.01.2013

DIN No.:

00058334

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	U55101DL1998PTC096453	PLAYWAY RESORTS PRIVATE LIMITED	Director	10/05/2001	10/05/2001	07/05/2015	Active	NO
2	U51109DL1999PTC098930	SUPER GROWTH TRADERS PRIVATE LIMITED	Director	26/03/2002	26/03/2002	01/10/2006	Active	NO
3	U29299DL2002PTC115772	AKSS ENGINEERS PRIVATE LIMITED	Director	13/06/2002	13/06/2002	07/05/2015	Active	NO
4	U51221DL2002PTC116299	JUPITER EXIM PRIVATE LIMITED	Director	23/07/2002	23/07/2002	07/05/2015	Active	NO
5	U21022DL2003PTC119318	JUPITER LAMINATORS PRIVATE LIMITED	Director	07/03/2003	07/03/2003	-	Active	NO
6	U45201DL2005PTC136241	SIGNATURE BUILD-WELL PRIVATE LIMITED	Director	13/05/2005	13/05/2005	-	Active	NO
7	U29199DL2003PTC121437	PIONEER CONVERTING AND ALLIED MACHINERY PRIVATE LIMITED	Director	20/11/2006	20/11/2006	07/05/2015	Active	NO
8	U74140DL1995PTC186071	TYFORT SALES PROMOTION PVT.LTD.	Director	10/08/2008	22/12/2007	30/04/2014	Active	NO
9	U70101DL2006PTC146777	AVICHAL BUILDCON PRIVATE LIMITED	Whole-time director	01/08/2011	01/08/2008	31/07/2012	Active	NO
10	U51909WB1995PTC071874	SIGNET VYAPAAR PVT LTD	Director	05/04/2010	05/04/2010	-	Active	NO
11	U45200GJ2011PTC065406	J V CONBUILD PRIVATE LIMITED	Director	16/01/2013	16/01/2013	-	Active	NO
12	U25209GJ2013PTC077488	ADVANCED POLYFILMS PRIVATE LIMITED	Director	13/11/2013	13/11/2013	-	Active	NO
13	U28112DL2009PTC189534	VSA MANUFACTURING PRIVATE LIMITED	Director	30/09/2014	05/12/2013	-	Active	NO
14	U45200GJ2011PTC065483	SHILP REALTY PRIVATE LIMITED	Director	15/07/2014	15/07/2014	29/08/2015	Active	NO
15	U51909WB2011PTC165063	DHANSIDHI MERCHANTS PRIVATE LIMITED	Additional director	10/11/2014	10/11/2014	-	Active	NO
16	U51909WB2011PTC165064	DHANVARSHA SHOPPERS PRIVATE LIMITED	Additional director	10/11/2014	10/11/2014	-	Active	NO
17	U51909WB2008PTC130326	MORNING COMMOSALE PRIVATE LIMITED	Director	15/12/2014	15/12/2014	-	Active	NO
18	U51909WB2008PTC130323	KUTIR COMMERCIAL PRIVATE LIMITED	Director	15/12/2014	15/12/2014	-	Active	NO
19	U51909WB2008PTC130329	MORNING GLORY VINIMAY PRIVATE LIMITED	Director	15/12/2014	15/12/2014	-	Active	NO
20	U52390WB2010PTC144336	HIGHGROWTH TRADLINK PRIVATE LIMITED	Director	29/09/2015	08/01/2015	-	Active	NO
21	U51101WB2010PTC147140	KEYSTAR DISTRIBUTORS PRIVATE LIMITED	Director	29/09/2015	26/06/2015	-	Active	NO
22	AAC-0568	SHINEINDIA PROCON LLP	Designated Partner	26/07/2014	26/07/2014	-	Active	NO

Name :

Mr. Tanuj Rajkumar Pugalia

Designation :

Director

Address :

B 801, Reatret Tower, Near Shyamal Chaar Rasta, Vejalpur, Ahmedabad-380015, Gujarat, India

Date of Birth/Age :

21.08.1977s

Date of Appointment :

12.05.2011

DIN No.:

01624713

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	U18101GJ1996PTC083286	JAINCO (INDIA) EXPORTS PVT LTD	Director	11/05/2002	11/05/2002	-	Active	NO
2	U74999WB1995PTC069137	AIM FINCON PVT. LTD.	Director	12/05/2003	12/05/2003	30/06/2014	Active	NO
3	U51220GJ2000PTC037635	TANUJ AGENCY PRIVATE LIMITED	Director	25/08/2003	25/08/2003	-	Active	NO
4	U50100GJ2004PTC045033	GALLOPS MOTORS PRIVATE LIMITED	Director	17/11/2004	17/11/2004	-	Active	NO
5	U50200GJ2005PTC045794	GALLOPS AUTOMOBILES PRIVATE LIMITED	Director	31/03/2005	31/03/2005	-	Active	NO
6	U51909MH1996PLC152537	KUBER GLOBALS LIMITED (TRF)	Director	11/04/2005	11/04/2005	31/03/2009	Active	NO
7	U45201GJ2008PTC053530	RK INFRA PROJECTS PRIVATE LIMITED	Director	08/04/2008	08/04/2008	25/03/2015	Active	NO
8	U50300RJ2010PTC032047	BAID MOTORS PRIVATE LIMITED	Director	30/09/2011	23/06/2010	-	Active	NO
9	U51909WB2010PTC144827	VIDYALAXMI SUPPLIERS PRIVATE LIMITED	Director	27/04/2011	27/04/2011	-	Amalgamated	NO
10	U45200GJ2011PTC065406	J V CONBUILD PRIVATE LIMITED	Director	12/05/2011	12/05/2011	-	Active	NO
11	U45200GJ2011PTC065480	MANN INFRA-BUILD PRIVATE LIMITED	Director	21/09/2012	01/09/2011	-	Active	NO
12	U51909WB2011PTC165100	SILVERLINE SHOPPERS PRIVATE LIMITED	Director	16/06/2012	16/06/2012	-	Amalgamated	NO
13	U50102MH2012PTC231724	MANN AUTOLINK INDIA PRIVATE LIMITED	Additional director	20/06/2012	20/06/2012	05/09/2014	Active	NO
14	U70109WB2011PTC161509	SHREEM REALTY PRIVATE LIMITED	Additional director	29/09/2012	29/09/2012	05/09/2014	Active	NO
15	U45200GJ2011PTC065483	SHILP REALTY PRIVATE LIMITED	Director	15/07/2014	15/07/2014	04/09/2014	Active	NO
16	U51909WB2011PTC165064	DHANVARSHA SHOPPERS PRIVATE LIMITED	Additional director	10/11/2014	10/11/2014	-	Active	NO
17	U51909WB2011PTC165063	DHANSIDHI MERCHANTS PRIVATE LIMITED	Additional director	10/11/2014	10/11/2014	-	Active	NO
18	U50102MH2015PTC268080	SHREEM MOTORS PRIVATE LIMITED	Director	03/09/2015	03/09/2015	-	Active	NO
19	U50300GJ2015PTC084482	GALLOPS AUTOLINK PRIVATE LIMITED	Director	11/09/2015	11/09/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ketan Acharya
Designation :	Chief Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

LIST OF ALLOTEES

AS ON: 27.02.2015

Names of Shareholders		No. of Shares
Amritdhara Vinimay Private Limited, India		1335294
Total		1335294

As on: 30.09.2014

Names of Shareholders		No. of Shares
Tanuj Rajkumar Pugalia		10000
Sandeep Bajaj		30000
Total		40000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in Manufacturing and trading of all kind of laminated packing materials and allied products. (Registered Activity)

Products :	--

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :
Products :	Raw Material
Countries :	China

Terms :
Selling :	Cash and Credit (90 Days)

Purchasing :	Cash and Credit (90 Days)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Snto International Trade Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

End Users

Reference :	Vishnu Pouch Packaging Private Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

100 (Approximately)

Bankers :

Bank Name	State Bank of India
Branch	Sahajanand Complex, Near Swaminarayan Temple, Sahibaug, Ahmedabad – 380004, Gujarat, 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)	Cash Credit – Rs. 6.000 million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loan from Banks	33.334	0.000

Total	33.334	0.000


Auditors :
Name :	S K Jha and Company Chartered Accountants
Address :	204, Iscon Plaza, Opposites Star Bazzar, Satellite, Ahmedabad-380015, Gujarat, India
Tel. No.:	91-79-32918802/ 30155316
Mobile No.:	91-9824044820
Fax No.:	91-79-26926104
PAN No.:	ABBFS6422J
E-Mail :	skjha5@hotmail.com satyendrajha@hotmail.com satyendrajha@gmail.com

Memberships :	--

Collaborators :	---

Enterprises over which key management personal has significant influence.	Jupitor Laminators Private Limited

CAPITAL STRUCTURE

After AS ON: 30.09.2014

Authorised Capital : Rs. 135.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 133.929 million

As on: 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

100000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

40000	Equity Shares	Rs.10/- each	Rs. 0.400 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	0.400	0.400	0.100
(b) Reserves & Surplus	(10.706)	(0.341)	(0.014)
(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)	(10.306)	0.059	0.086

(3) Non-Current Liabilities
(a) long-term borrowings	33.334	0.000	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	0.000	0.000	0.000
Total Non-current Liabilities (3)	33.334	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	23.559	10.040	0.000
(b) Trade payables	66.333	24.671	0.012
(c) Other current liabilities	25.305	0.034	0.000
(d) Short-term provisions	0.234	0.010	0.000
Total Current Liabilities (4)	115.431	34.755	0.012

TOTAL	138.459	34.814	0.098

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	64.864	16.692	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	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)	4.784	0.154	0.000
(d) Long-term Loan and Advances	2.765	2.130	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	72.413	18.976	0.000

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	18.380	9.996	0.000
(c) Trade receivables	37.896	0.000	0.000
(d) Cash and cash equivalents	1.022	0.853	0.080
(e) Short-term loans and advances	3.811	1.638	0.000
(f) Other current assets	4.937	3.351	0.018
Total Current Assets	66.046	15.838	0.098

TOTAL	138.459	34.814	0.098

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income from Operations	165.856	0.000	NA

Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	175.021	0.481	NA

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(9.165)	(0.481)	NA

Less	FINANCIAL EXPENSES		1.136	0.000	NA

	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(10.301)	(0.481)	NA

Less	DEPRECIATION/ AMORTISATION		4.694	0.000	NA

	PROFIT/ (LOSS) BEFORE TAX		(14.995)	(0.481)	NA

Less	TAX		0.000	0.000	NA

	PROFIT/ (LOSS) AFTER TAX		(14.995)	(0.481)	(0.014)

	Earnings Per Share (Rs.)		(259.12)	(8.17)	(1.40)

Particulars

31.03.2015

Sales Turnover

870.000

Expected Sales (2015-16): Rs. Rs. 1250.000 Million (Expansion of Business)

The above information has been parted by Mr. Ketan Acharya (Chief Accountant).

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	3.791	0.000	0.000
Cash generated from operations	NA	NA	NA
Net Cash flows from operating activities	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(9.04)	0.00	NA

Operating Profit Margin (PBIDT/Sales)	(%)	(5.53)	0.00	NA

Return on Total Assets (PBT/Total Assets}	(%)	(11.22)	(1.39)	0.00

Return on Investment (ROI) (PBT/Networth)		1.45	(8.15)	0.00

Debt Equity Ratio (Total Debt /Networth)		(5.89)	170.17	0.00

Current Ratio (Current Asset/Current Liability)		0.57	0.46	8.17

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	0.100	0.400	0.400
Reserves & Surplus	(0.014)	(0.341)	(10.706)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.086	0.059	(10.306)

long-term borrowings	0.000	0.000	33.334
Short term borrowings	0.000	10.040	23.559
Current maturities of long-term debts	0.000	0.000	3.791
Total borrowings	0.000	10.040	60.684
Debt/Equity ratio	0.000	170.169	(5.888)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Income from Operations	0.000	165.856
	0.000	0.000

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Income from Operations	0.000	165.856
Profit (Loss)	(0.481)	(14.995)
	0.00%	(9.04%)

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
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	No
26	Turnover of firm for last two 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	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

CHANGE OF ADDRESS:

The Registered office of the company has been shifted from “Office No. 4, 2nd Floor, Oxford Tower Complex Gurukul Road, Memnagar Ahmedabad – 380052, Gujarat, India to the present address w.e.f. 11.02.2013.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short Term Borrowing
Loan and advances from body corporate	23.559	10.040
Total	23.559	10.040

INDEX OF CAHREGS:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10507334	25/03/2014	49,500,000.00	State Bank of India	Regional Business Office-1, Sahjanand Complex, Shahibaug, Ahmedabad - 380004, Gujarat, INDIA	C10071348

* Date of charge modification

FIXED ASSETS:

Plant and Machinery
Electrical Fittings
Computer Software
Vehicles

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.66.8
UK Pound	1	Rs.100.49
Euro	1	Rs.72.52

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	AMT

Report Prepared by :	MTN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	1
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.

MIRA INFORM REPORT

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