MIRA INFORM REPORT

Report No. :	355818
Report Date :	19.12.2015

IDENTIFICATION DETAILS

Name :	JINDAL STAINLESS (HISAR) LIMITED (w.e.f. 26.12.2014)
Formerly Known As :	JINDAL STAINLESS (HISAR) PRIVATE LIMITED (w.e.f. 06.08.2014) KS INFRA TOWER AND LANDMARK PRIVATE LIMITED
Registered Office :	O.P. Jindal Marg, Hisar - 125005, Haryana
Tel. No.:	91-1662-222471/83
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.07.2013
Com. Reg. No.:	05-049963
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U27205HR2013PLC049963
IEC No.:	0588085146
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCJ1969M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Stainless Steel. (Confirmed by management)
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 200
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was incorporated as a result of demerger from Jindal Stainless Limited on July 2013. Jindal Stainless demerged its ferro alloys and mining division into Jindal Stainless (Hisar) that will issue one equity share of the subject company to JSL shareholders for every one share held in JSL on the record date of 21^st November 2015. Management of the company has failed to file financials for the year 2015 with the government department. As per the director’s report for the year 2014, the company has not yet started its business activity and it has share capital of Rs. 0.100 million. Payment terms are unknown. In view of overall weak financial condition of Jindal group, and the subject being a new company, it can be considered for business dealings with fully 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	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 31-03-2015.

INFORMATION DENIED BY

Name :	Mr. Pankaj
Designation :	Account Executive
Contact No.:	91-11-26188345
Date :	19.11.2015

LOCATIONS

Registered Office :	O.P. Jindal Marg, Hisar - 125005, Haryana, India
Tel. No.:	91-1662-222471/83
Fax No.:	91-1662-220476/220499
E-Mail :	geetika.rohia@jindalsteel.com jindal.hisar@gmail.com info.hisar@jindalsteel.com investorcare@jindalstainless.com ksinfratower@gmail.com haritb@mail.com
Website :	http://www.jindalstainless.com
Corporate Office :	Jindal Centre, 12, Bhikaji Cama Place, New Delhi-110066, India
Tel. No.:	91-11-26188345/60/ 41462000
Fax No.:	91-11-26170691/26161271/ 41659169/ 26101562
E-Mail :	info@jindalsteel.com
Manufacturing Units	Located At: Hisar Kothavalasa Odisha Indonesia
Service Centers	Located At: Gurgaon Chennai Vadodara Mumbai Spain
Sales and Representative Office:	Located At: Delhi Chennai Mumbai Hyderabad Pune Bangalore Vadodara Vishakapatnam Kolkata Surat Ahmadabad Jodhpur Bhubaneswar Bhopal Chandigarh
Global Offices:	Located At: Turkey UAE Vietnam South Korea China Italy USA Poland Russia Thailand Indonesia Germany Brazil
Warehouse:	Located At: Belgium (Antwerp) Italy (Venice) Spain (Barcelona) Poland (Gdynia) Italy (La Spezia) Russia (Tallinn)

DIRECTORS

As on: 31.03.2015

Name :

Mr. Ratan Jindal

Designation :

Additional Director

Address :

Jindal House, Model Town, Hisar, 125005, Haryana, India

Date of Appointment :

02.11.2015

DIN No.:

00054026

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	L24222WB1902PLC001540	SHALIMAR PAINTS LIMITED	Director	31/08/1990	31/08/1990	-	Active	NO
2	U74899DL1995PTC074107	NALWA FARMS PRIVATE LIMITED	Director	23/11/1995	23/11/1995	-	Active	NO
3	U15491WB1983PLC036898	SONABHEEL TEA LIMITED	Director	29/03/1996	29/03/1996	-	Active	NO
4	L27105HR1979PLC009913	JINDAL STEEL AND POWER LIMITED	Director	28/04/1999	28/04/1999	-	Active	NO
5	L26922HR1980PLC010901	JINDAL STAINLESS LIMITED	Managing director	23/07/2003	23/07/2003	-	Active	NO
6	U65993DL2006PLC145961	OPJ INVESTMENTS AND HOLDINGS LIMITED	Director	07/02/2006	07/02/2006	-	Active	NO
7	U65923DL2006PLC145962	NALWA FINCAP LIMITED	Director	07/02/2006	07/02/2006	-	Active	NO
8	U25207HR1971PTC006005	JINDAL INDUSTRIES Private Limited	Director	09/08/2006	09/08/2006	-	Active	NO
9	U65923DL2008PLC177707	NALWA FINANCIAL SERVICES LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO
10	U51909GJ2014PTC078496	VIRTUOUS TRADECORP PRIVATE LIMITED	Director	29/01/2014	29/01/2014	28/06/2014	Active	NO
11	U45208HR2005PLC035921	OM PROJECT CONSULTANTS AND ENGINEERS LIMITED	Director	26/09/2015	07/06/2014	-	Active	NO
12	U27205HR2013PLC049963	Jindal Stainless (Hisar) Limited	Additional director	02/11/2015	02/11/2015	-	Active	NO

Name :

Mr. Tara Sankar Sudhir Bhattacharya

Designation :

Additional Director

Address :

8E, 8th Floor, Harbour Heights, Building No-B-I, Nasawant Marg, Colaba, Mumbai, 400005, Maharashtra, India

Date of Appointment :

02.11.2015

DIN No.:

00157305

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	U99999MH1986PLC040298	SBI CAPITAL MARKETS LIMITED	Nominee director	07/03/2005	07/03/2005	01/02/2008	Active	NO
2	U65990MH1987PLC044571	INFRASTRUCTURE LEASING AND FINANCIAL SERVICES LIMITED	Director	12/09/2007	01/08/2006	01/02/2008	Active	NO
3	U40104MH1987GOI149458	NUCLEAR POWER CORPORATION OF INDIA LIMITED	Director	08/05/2008	08/05/2008	07/05/2011	Active	NO
4	L26922HR1980PLC010901	JINDAL STAINLESS LIMITED	Director	04/09/2009	13/01/2009	-	Active	NO
5	U74999CH2009PLC031588	EMBEE ARC (INDIA) LIMITED	Director	16/04/2009	16/04/2009	27/02/2013	Active	NO
6	L51100GJ1982PLC005131	SAYAJI HOTELS LIMITED	Director	30/09/2009	30/04/2009	11/09/2013	Active	NO
7	U99999MH1993PLC071865	IDFC Securities Limited	Director	22/10/2014	17/06/2009	-	Active	NO
8	U18110CH1988PLC007928	AMARTEX INDUSTRIES LIMITED	Director	30/09/2010	22/03/2010	10/04/2014	Active	NO
9	L63040HP1994PLC019011	JAGSON AIRLINES LIMITED	Director	25/09/2010	29/05/2010	28/02/2011	Active	NO
10	U72200MH2002PLC138213	AGS TRANSACT TECHNOLOGIES LIMITED	Director	20/09/2010	16/09/2010	04/06/2011	Active	NO
11	U40103WB2002PLC145294	ABHIJEET POWER LIMITED	Director	25/11/2010	25/11/2010	30/07/2013	Active	NO
12	L55101WB1999PLC090672	SPECIALITY RESTAURANTS LIMITED	Director	01/04/2014	09/02/2011	-	Active	NO
13	L31501HR1973PLC007543	SURYA ROSHNI LIMITED	Director	05/09/2014	14/02/2011	-	Active	NO
14	U27101DL2009PLC197083	SURYA VIJAYNAGAR STEEL AND POWER LIMITED	Director	15/03/2011	14/02/2011	16/10/2012	Active	NO
15	U72900MH1982PLC028389	Rosoft Limited	Director	20/09/2011	20/09/2011	22/02/2013	Active	NO
16	U69990MH1999PLC123190	IDFC AMC TRUSTEE COMPANY LIMITED	Director	19/12/2014	08/12/2011	15/10/2015	Active	NO
17	L24232CH1995PLC015553	IND SWIFT LABORATORIES LIMITED	Director	30/09/2013	07/11/2012	07/11/2014	Active	NO
18	L51909GJ1994PLC022719	NANDAN DENIM LIMITED	Director	29/08/2013	06/02/2013	-	Active	NO
19	L99999MH1988PLC047408	MAN INDUSTRIES (INDIA) LIMITED	Additional director	27/07/2013	27/07/2013	30/10/2013	Active	NO
20	L27203WB2004PLC170941	ESS DEE ALUMINIUM LIMITED	Director	24/09/2013	13/08/2013	-	Active	NO
21	U67120MH1993PLC075037	PURPLE FINANCE LIMITED	Additional director	02/12/2013	02/12/2013	14/01/2014	Active	NO
22	L74899DL1988PLC032166	UFLEX LIMITED	Director	22/07/2015	14/02/2015	-	Active	NO
23	U27205HR2013PLC049963	Jindal Stainless (Hisar) Limited	Additional director	02/11/2015	02/11/2015	-	Active	NO

Name :

Ishani Chattopadhyay

Designation :

Additional Director

Address :

36 Jalkiran Building, GD Somani Marg, Cuffe Parade, Mumbai, 400005, Maharashtra, India

Date of Appointment :

02.11.2015

DIN No.:

00303114

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	U40108MH2009PTC191355	ARCTIC ENERGY SYSTEMS PRIVATE LIMITED	Director	31/03/2009	31/03/2009	-	Active	NO
2	U74990DL2012PTC285104	Grassroots Business Investment Advisors Private Limited	Additional director	11/12/2013	11/12/2013	30/06/2014	Active	NO
3	L26922HR1980PLC010901	JINDAL STAINLESS LIMITED	Additional director	01/10/2014	01/10/2014	-	Active	NO
4	U74920HR2003PLC035976	JSL LIFESTYLE LIMITED	Additional director	15/12/2014	15/12/2014	-	Active	NO
5	U27205HR2013PLC049963	Jindal Stainless (Hisar) Limited	Additional director	02/11/2015	02/11/2015	-	Active	NO

Name :

Mr. Ashok Kumar Gupta

Designation :

Whole-Time Director

Address :

C-380, Yojna Vihar, Delhi, 110092, Delhi, India

Date of Appointment :

02.11.2015

DIN No.:

01722395

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	U27100DL2007PTC171741	SANU STEELS PRIVATE LIMITED	Director	20/12/2007	20/12/2007	-	Active	NO
2	U74920HR2003PLC035976	JSL LIFESTYLE LIMITED	Director	01/04/2011	01/04/2011	12/12/2014	Active	NO
3	L74899DL1986PLC023443	APL Apollo Tubes Limited	Managing director	01/05/2012	19/10/2011	-	Active	NO
4	U27100DL2006PLC144802	APOLLO PRECISION TUBES LIMITED	Director	10/08/2013	10/08/2013	15/10/2014	Active	NO
5	U29253DL2015PTC286713	Global Sparenparts Private Limited	Director	23/10/2015	23/10/2015	-	Active	NO
6	U27205HR2013PLC049963	Jindal Stainless (Hisar) Limited	Whole-time director	02/11/2015	02/11/2015	-	Active	NO

Name :

Mr. Kanwaljit Singh Thind

Designation :

Additional Director

Address :

House No 6a, Model Town, Patiala, 147001, Punjab, India

Date of Appointment :

02.11.2015

DIN No.:

06969654

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	L26922HR1980PLC010901	JINDAL STAINLESS LIMITED	Additional director	01/10/2014	01/10/2014	-	Active	NO
2	U27109DL2004PLC128146	JINDAL STAINLESS STEELWAY LIMITED	Director	30/09/2015	11/12/2014	-	Active	NO
3	U27205HR2013PLC049963	Jindal Stainless (Hisar) Limited	Additional director	02/11/2015	02/11/2015	-	Active	NO

Name

Mr. Abhyuday Jindal

Designation :

Additional Director

Address :

House No.6, Prithvi Raj Road, Delhi, 110001, Delhi, India

Date of Appointment :

02.11.2015

DIN No.:

07290474

KEY EXECUTIVES

Name :	Mr. Pankaj
Designation :	Account Executive
Name :	Mr. Praneet Kumar
Designation :	Human Resource
Name :	Mr. Bhartendu Harit
Designation :	Company Secretary
Address :	362, Housing Board Colony, Sirsa Road, Hisar-125001, Haryana, India
Date of Birth/Age :	15.03.1970
Experience :	03.11.2015
PAN:	ABBPH1847G
Email:	hsr.harit@jslhsr.com
Name :	Mr. Ankur Agrawal
Designation :	Chief Finance Executive
Address :	410, Marvel Homes, Sector 61, Tahshil Dadri, Dist. Gautam Budh Nagar, Noida, 201301, Uttar Pradesh, India
Experience :	02.11.2015
PAN:	AHMPA4489Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

LIST OF ALLOTTEES

As on: 03.12.2014

Names of Shareholders	No. of Shares
Jindal stainless Limited	39760
Mr. Mahabir Prashad	40
Mr. Shanti Swaroop Saxena	40
Mr. Ankur Agrawal	40
Mr. Rajeev Garg	40
Mr. Mahabir Prashad Swami	40
Mr. Jitendra Kumar	40
Total	40000

As on: 30.09.2014

Names of Shareholders	No. of Shares
Mr. Sahil	5000
Mr. Gaurav Puri	5000
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2014

Category	Percentage
Other top fifty shareholders	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Stainless Steel. (Confirmed by management)
Products :	Stainless Steel
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Reference :	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 :

Reference :	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 :

Not Divulged

Bankers :

Bank Name	Not Divulged
Branch	Not Divulged
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of 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

Banking Relations :	SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India
Auditors :
Name :	Sandeep Khurana and Associates Chartered Accountants
Address :	House No 15, Advocate Colony, Hisar- 125001, Haryana, India
PAN:	AAAAA0000A
Memberships :	--
Collaborators :	--
Group Companies:	Jindal power Limited Jindal petroleum Limited Jindal Cement Limited and Jindal Steel Bolivia Jindal stainless Limited (JSL) Jindal Stainless (Hisar) Limited Jindal United Steel Limited Jindal Coke Limited

CAPITAL STRUCTURE

After As on: 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

As on: 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	(0.023)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	0.077
(3) Non-Current Liabilities
(a) long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.000
(c) Other current liabilities	0.015
(d) Short-term provisions	0.000
Total Current Liabilities (4)	0.015
TOTAL	0.092
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.012
Total Non-Current Assets	0.012
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	0.080
(e) Short-term loans and advances	0.000
(f) Other current assets	0.000
Total Current Assets	0.080
TOTAL	0.090

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
	SALES
		Income	0.000
		Other Income	0.000
		TOTAL (A)	0.000
Less	EXPENSES
		Other Expenses	0.020
		Preliminary Expenses off	0.003
		TOTAL (B)	0.023
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.023)
Less	FINANCIAL EXPENSES (D)		0.000
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.023)
Less	DEPRECIATION/ AMORTISATION (F)		0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(0.023)
Less	TAX (H)		0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(0.023)
	Earnings Per Share (Rs.)		(2.30)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

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

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT / Sales)	(%)	0.000
Operating Profit Margin (PBIDT/Sales)	(%)	0.000
Return on Total Assets (PBT/Total Assets}	(%)	(25.55)
Return on Investment (ROI) (PBT/Networth)		0.30
Debt Equity Ratio (Total Debt /Networth)		0.000
Current Ratio (Current Asset/Current Liability)		6.00

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	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
21	Banking facility details	No
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	No
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

INDEX OF CAHREGS:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10599482	20/10/2015	161,708,400,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI - 400005, Maharashtra, INDIA	C68618784

* Date of charge modification

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.66.42
UK Pound	1	Rs.99.17
Euro	1	Rs.72.14

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	KNL
Report Prepared by :	MTN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
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	2
--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		13

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.