MIRA INFORM REPORT

Report No. :	354856
Report Date :	16.12.2015

IDENTIFICATION DETAILS

Name :	MONGA STRAYFIELD PRIVATE LIMITED (w.e.f. 11.08.2008)
Formerly Known As :	MONGA ELECTRONICS PRIVATE LIMITED
Registered Office :	C-4, RS 22, MIDC, Behind Post Office, Bhosari Industrial Estate, Bhosari, Pune – 411026, Maharashtra
Tel. No.:	91-20-27120022
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	09.05.1968
Com. Reg. No.:	11-133908
Capital Investment / Paid-up Capital :	Rs.49.500 Million
CIN No.: [Company Identification No.]	U22106PN1968PTC133908
IEC No.:	0388001577
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACM3782A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Radio Frequency Drying Equipment. [Confirmed by management]
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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 was incorporated in the year 1968 and it is the manufacturer of Radio frequency drying equipments. It is an old and established company having satisfactory track. As per Registrar of companies, the date of balance sheet (i.e. financial filed) is shown as 31.03.2015 but the documents related to the financials are not available from any source. However, as per 2014 financial, the company possesses decent financial profile marked by fair profit margins, healthy networth position along with strong debt protection metrics. Rating also considers company’s long and established track record of operations along with well-experienced management team. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. In view of aforesaid, 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

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. Mahesh Monga
Designation :	Whole-time Director
Contact No.:	91-9821130361
Date :	15.12.2015

LOCATIONS

Registered Office/ Factory :	C-4, RS 22, MIDC, Behind Post Office, Bhosari Industrial Estate, Bhosari, Pune – 411026, Maharashtra, India
Tel. No.:	91-20-27120022 / 27120021 / 22
Mobile No.:	91-9821130361 (Mr. Mahesh)
Fax No.:	91-20-27122562
E-Mail :	mspl@mongagroup.com
Website :	www.mongagroup.com
Location :	Owned
Locality :	Industrial

DIRECTORS

AS ON 31.03.2015

Name :

Mr. Ravi Prem Nath

Designation :

Managing Director

Address :

202 Annapurna, Sanewadi, Aundh, Pune - 411007, Maharashtra, India

Date of Birth/Age :

01.06.1954

Date of Appointment :

01.11.2008

DIN No.:

00006868

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	U22106PN1968PTC133908	MONGA STRAYFIELD PRIVATE LIMITED	Managing director	01/11/2008	01/06/1996	-	Active	NO
2	U29260MH1996PTC100984	MONGA STRAYFIELD PRIVATE LIMITED	Managing director	12/07/1996	12/07/1996	-	Amalgamated	NO
3	U28129MH1985PTC036872	MONGA PACKAGING PVT LTD	Managing director	01/06/1999	01/06/1999	-	Amalgamated	NO
4	U34300MH2006PTC160074	MONGA MOTOCONO PRIVATE LIMITED	Director	27/02/2006	27/02/2006	29/02/2012	Strike off	NO

Name :

Mr. Mahesh Omprakash Monga

Designation :

Whole-time Director

Address :

D/12, Rani Sati Ngr, Chincholi, Opposite Sachdeva Petrol Pumps, S. V. Road, Malad (West), Mumbai - 400064, Maharashtra, India

Date of Birth/Age :

23.07.1952

Date of Appointment :

01.11.2008

DIN No.:

00006840

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	U22106PN1968PTC133908	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	01/11/2008	04/09/1986	Active	NO
2	U29260MH1996PTC100984	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	01/12/2006	12/07/1996	Amalgamated	NO
3	U28129MH1985PTC036872	MONGA PACKAGING PVT LTD	Director	01/06/1999	01/06/1999	Amalgamated	NO

Name :

Mr. Kailash Omprakash Monga

Designation :

Whole-time Director

Address :

B 501, Swojas Anand, Anand Park, Aundh, Pune - 411007, Maharashtra, India

Date of Birth/Age :

26.11.1949

Date of Appointment :

01.11.2008

DIN No.:

00006819

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	U22106PN1968PTC133908	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	01/11/2008	04/09/1986	Active	NO
2	U29260MH1996PTC100984	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	18/07/1996	18/07/1996	Amalgamated	NO
3	U28129MH1985PTC036872	MONGA PACKAGING PVT LTD	Director	03/10/2001	03/10/2001	Amalgamated	NO
4	U34300MH2006PTC160074	MONGA MOTOCONO PRIVATE LIMITED	Director	27/02/2006	27/02/2006	Strike off	NO

Name :

Mr. Arun Omprakash Monga

Designation :

Whole-time Director

Address :

Survey No 277/16, Pallod Farms, Baner, Pune - 411045, Maharashtra, India

Date of Birth/Age :

19.07.1962

Date of Appointment :

03.09.2014

DIN No.:

00007517

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	U29260MH1996PTC100984	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	18/07/1996	18/07/1996	Amalgamated	NO
2	U22106PN1968PTC133908	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	03/09/2014	19/09/1996	Active	NO
3	U28129MH1985PTC036872	MONGA PACKAGING PVT LTD	Director	24/03/2005	24/03/2005	Amalgamated	NO
4	U34300MH2006PTC160074	MONGA MOTOCONO PRIVATE LIMITED	Managing director	14/05/2007	27/02/2006	Strike off	NO

Name :

Mrs. Lata Kailash Monga

Designation :

Whole-time Director

Address :

B - 501, Swojas Anand, Anand Park, Aundh, Pune - 411007, Maharashtra, India

Date of Birth/Age :

17.05.1951

Date of Appointment :

03.09.2014

DIN No.:

02188779

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	U22106PN1968PTC133908	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	03/09/2014	13/05/2008	Active	NO

Name :

Mrs. Renu Ravi Nath

Designation :

Whole-time Director

Address :

202, Annapurna, Sanewadi, Aundh, Pune - 411007, Maharashtra, India

Date of Birth/Age :

11.09.1956

Date of Appointment :

03.09.2014

DIN No.:

03327147

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	U22106PN1968PTC133908	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	03/09/2014	11/12/2010	Active	NO

Name :

Mrs. Geeta Arun Monga

Designation :

Whole-time Director

Address :

Survey No 277/16, Pallod Farms, Baner, Pune - 411045, Maharashtra, India

Date of Birth/Age :

03.07.1963

Date of Appointment :

03.09.2014

DIN No.:

03327163

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	U22106PN1968PTC133908	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	03/09/2014	11/12/2010	Active	NO

Name :

Mr. Amol Kailash Monga

Designation :

Whole-time Director

Address :

R H No 22, Vasant Vihar, Near Pancard Clubs, Baner, Pune - 411045, Maharashtra, India

Date of Birth/Age :

04.06.1981

Date of Appointment :

03.09.2014

DIN No.:

02641690

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	U22106PN1968PTC133908	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	03/09/2014	13/04/2009	Active	NO

Name :

Mrs. Neeru Mahesh Monga

Designation :

Whole-time Director

Address :

D/12, Rani Sati Nagar, S.V. Road, Chincholi, Malad (West), Mumbai - 400064, Maharashtra, India

Date of Birth/Age :

16.07.1953

Date of Appointment :

03.09.2014

DIN No.:

03327214

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	U22106PN1968PTC133908	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	03/09/2014	11/12/2010	Active	NO

Name :

Mr. Rakesh Kailash Monga

Designation :

Director

Address :

S. No. 261/2/9, Plot No.11, Opposite Hotel Green Park, Baner Road, Pune - 411045, Maharashtra, India

Date of Birth/Age :

23.06.1978

Date of Appointment :

21.02.2015

DIN No.:

00007537

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	U22106PN1968PTC133908	MONGA STRAYFIELD PRIVATE LIMITED	Director	21/02/2015	24/03/2005	-	Active	NO
2	U28129MH1985PTC036872	MONGA PACKAGING PVT LTD	Whole-time director	24/03/2005	24/03/2005	-	Amalgamated	NO
3	U29260MH1996PTC100984	MONGA STRAYFIELD PRIVATE LIMITED	Whole-time director	01/12/2006	23/02/2006	-	Amalgamated	NO
4	U34300MH2006PTC160074	MONGA MOTOCONO PRIVATE LIMITED	Director	14/05/2007	27/02/2006	29/02/2012	Strike off	NO

MAJOR SHAREHOLDERS

AS ON 31.03.2015

Names of Shareholders	No. of Shares
Mr. Kailash Omprakash Monga	910328
Mrs. Pushpa Omprakash Monga	556540
Mr. Mahesh Omprakash Monga	960328
Mr. Arun Omprakash Monga	1052568
Mr. Rakesh Kailash Monga	76760
Mr. Amol Kailash Monga	226760
Mr. Vishal Monga	79260
Mr. Ravi Nath Jointly with Renu Nath	179104
Mr. Kailash Monga Jointly with Mrs. Lata Monga	75252
Mrs. Lata Monga Jointly with Mr. Kailash Monga	512500
Mr. Mahesh Monga Jointly with Mrs. Neeru Monga	52500
Mrs. Neeru Monga Jointly with Mr. Mahesh Monga	5000
Mr. Arun Monga Jointly with Mrs. Geeta Monga	58000
Mr. Rakesh Monga Jointly with Mr. Kailash Monga	13000
Mr. Amol Monga Jointly with Mr. Kailash Monga	14000
Mrs. Geeta Monga	2000
Mrs. Renu Nath Jointly with Ravi Nath	16100
Ms. Priti Nath	10000
Mr. Rakesh Monga Jointly with Mrs. Shweta Monga	150000
Total	4950000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Radio Frequency Drying Equipment. [Confirmed by management]

Products :

Description of product or service category	ITC Code
High Frequency Plastics Welders	8515
Radio Frequency Dryers	8514
Centrifuges / Hydro Extractor	8421

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Products :

Raw Material

Countries :

• Germany
• UK

Terms :

Selling :

Cash, Credit (30 / 60 / 90 Days)

Purchasing :

Cash, Credit (30 / 60 / 90 Days)

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Not Divulged
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, OEM’s

Company Name :	Not Divulged
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 :

Banker Name :	Bank of India
Branch :	Pimpri Branch, Pune – 411018, Maharashtra, India
Person Name (With Designation) :	Not Available
Contact Number :	91-20-27423904
Name of Account Holder :	Not Available
Account Number :	Not Available
Account Since (Date/Year of Account Opening) :	Not Available
Average Balance Maintained :	Not Available
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Cash / Credit= Rs.91.100 million
Account Operation :	Not Available
Remark :	Number is continuously ringing.

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
Other loans and advances	2.054	4.306
Short Term Borrowings
Loans repayable on demand	11.880	28.369
Total	13.934	32.675

Auditors :
Name :	Jagdish B Shah and Associates Chartered Accountants
Address :	2, Adarsh Peace Land, 125, Prabhat Colony, 7^th Road, Santacruz (East), Mumbai – 400055, Maharashtra, India
PAN No.:	AAAFS0533Q
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries :	Strayfield Limited, United Kingdom

CAPITAL STRUCTURE

AS ON 29.09.2015

Authorised Capital:

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
4950000	Equity Shares	Rs.10/- each	Rs.49.500 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	49.500	49.500	51.000
(b) Reserves & Surplus	104.439	60.445	30.055
(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)	153.939	109.945	81.055
(3) Non-Current Liabilities
(a) long-term borrowings	2.054	4.306	20.192
(b) Deferred tax liabilities (Net)	1.652	2.055	2.488
(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)	3.706	6.361	22.680
(4) Current Liabilities
(a) Short term borrowings	11.880	28.369	21.647
(b) Trade payables	40.059	42.232	52.925
(c) Other current liabilities	25.290	29.284	21.371
(d) Short-term provisions	16.607	10.579	9.350
Total Current Liabilities (4)	93.836	110.464	105.293
TOTAL	251.481	226.770	209.028
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	54.842	60.550	64.349
(ii) Intangible Assets	0.377	0.628	1.047
(iii) Capital work-in-progress	43.004	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	22.037	22.038	22.547
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	120.260	83.216	87.943
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	53.508	59.355	53.089
(c) Trade receivables	32.057	33.185	43.211
(d) Cash and cash equivalents	17.256	34.182	11.462
(e) Short-term loans and advances	0.702	0.476	0.299
(f) Other current assets	27.698	16.356	13.024
Total Current Assets	131.221	143.554	121.085
TOTAL	251.481	226.770	209.028

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	277.085	303.535	263.803
		Other Income	52.125	41.489	33.254
		TOTAL	329.210	345.024	297.057
Less	TOTAL EXPENSES		263.354	295.813	260.289
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		65.856	49.211	36.768
Less	DEPRECIATION/ AMORTISATION		9.188	10.486	10.788
	PROFIT/(LOSS) BEFORE TAX		56.668	38.725	25.980
Less	TAX		12.664	7.578	4.574
	PROFIT/(LOSS) AFTER TAX		44.004	31.147	21.406
	Earnings Per Share (Rs.)		8.89	--	--

Particulars	31.03.2015
Sales Turnover (Approximately)	270.000
	[Due to Market down]

Expected Sales (2015-2016): Rs.300.000 million

The above information has been parted by Mr. Mahesh

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) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	15.88	10.26	8.11
Return on Total Assets (PBT/Total Assets)	(%)	30.39	18.91	13.93
Return on Investment (ROI) (PBT/Networth)		0.37	0.35	0.32
Debt Equity Ratio (Total Debt /Networth)		0.09	0.30	0.52
Current Ratio (Current Asset/Current Liability)		1.40	1.30	1.15

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	51.000	49.500	49.500
Reserves & Surplus	30.055	60.445	104.439
Net worth	81.055	109.945	153.939
long-term borrowings	20.192	4.306	2.054
Short term borrowings	21.647	28.369	11.880
Total borrowings	41.839	32.675	13.934
Debt/Equity ratio	0.516	0.297	0.091

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	263.803	303.535	277.085
		15.061	(8.714)

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	263.803	303.535	277.085
Profit	21.406	31.147	44.004
	8.11%	10.26%	15.88%

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	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	No
26	Turnover of firm for last four 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

ANNUAL PERFORMANCE

The Sales Turnover of the Company is Rs.277.100 million and a net profit of Rs. 43.600 million As compared to the previous year, the turnover has decreased by about 8%. Inspite of fall in turnover the profits of the Company are improved due to various reasons including cost effective changes implemented by the management. Currently the reaccessioning situation is affecting our Turnover.

EXPANSION

As informed in previous AGM the Company has acquired the Leasing Rights in Plot No. T-98 MIDC Bhosari in February 2014. Building plans for the Factory building, to be constructed on said plot, are submitted to MIDC office for approval. We expect to get the approval by the end of October 2014. The construction will be commenced after getting approval from MIDC and other concerned Departments.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10164113	27/12/2011 *	91,117,000.00	BANK OF INDIA	PIMPRI BRANCH, PIMPRI, PUNE, MAHARASHTRA - 411018, INDIA	B30672596

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Office Equipment

· Computer

· 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 records 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 records 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.67.04
UK Pound	1	Rs.101.67
Euro	1	Rs.73.93

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	HNA
Report Prepared by :	NKT

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	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		49

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

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