MIRA INFORM REPORT

Report No. :	356614
Report Date :	28.12.2015

IDENTIFICATION DETAILS

Name :	AVALON TECHNOLOGIES PRIVATE LIMITED

Registered Office :	B–7, First Main Road, MEPZ-SEZ, Tambaram, Chennai – 600045, Tamilnadu
Tel. No.:	91-44-22620095

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	03.11.1999

Com. Reg. No.:	18-043479

Capital Investment / Paid-up Capital :	Rs. 13.015 Million

CIN No.: [Company Identification No.]	U30007TN1999PTC043479

IEC No.:	3899000137

TAN No.: [Tax Deduction & Collection Account No.]	CHEA07378A

PAN No.: [Permanent Account No.]	AACCA4147K

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is mainly engaged in the business of manufacture and sale of Printed Circuit Boards (PCBs) (Registered Activity)

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Maximum Credit Limit :	USD 2187000

Status :	Moderate

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is an established company having moderate track. Management has failed to file its financial with the government department for the year 2015. As per the Registrar of Companies the date of balance sheet (i.e. financial filed is shown as 31.03.2014 but the document related to the financial are not available from any sources. As per available financial for the year 2013, the company has sound financial position along with healthy operational activity. Business is active. Payment are unknown. 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

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 DECLINED

Management non-cooperative (91-44-42220400)

LOCATIONS

Registered Office / Warehouse :	B–7, First Main Road, MEPZ-SEZ, Tambaram, Chennai – 600045, Tamilnadu, India
Tel. No.:	91-44-22620095-96/42220400/42200524/42220512
Fax No.:	91-44-22620097/22620092/22620097
E-Mail :	avalonl@satyam.net.in info@avalontech.com tpi@avalontec.com
Website :	www.avalon.com www.avalontec.com

Overseas Office:	2130, Trade Zone Building, San Jose, Chartered Accountant 95131, U.S.A. Tel No :- 408 957 8885 (Extension 215) Fax No :- 408 957 8886 E-mail :- gerhardmueller@avalontec.com 42618 Christy Street, Fremont, CA 94538, USA. Phone :510-440-0200 Fax :510-440-0201 E-mail :sales@siennagroup.com

DIRECTORS

As on 31.03.2015

Name :

Mr. Thayagath Puthan Vettil Imbichammad

Designation :

Managing Director

Address :

104 Defence Officers Colony, Chennai-600097, Tamilnadu, India

Date of Birth/Age :

09.04.1938

Date of Appointment :

03.11.1999

DIN :

00634769

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	U30007TN1999PTC043479	AVALON TECHNOLOGIES PRIVATE LIMITED	Managing director	03/11/1999	03/11/1999	-	Active	NO
2	U70102KL2002PTC015819	CHERUKAVU LAND DEVELOPMENT PRIVATE LIMITED	Director	07/02/2004	07/02/2004	20/01/2008	Active	NO
3	U72100TN2008PTC068955	AVALON TECHNOLOGY AND SERVICES PRIVATE LIMITED	Director	21/08/2008	21/08/2008	-	Active	NO
4	U72100TN2008PTC068956	SIENNA TECHNOLOGY AND SERVICES PRIVATE LIMITED	Director	21/08/2008	21/08/2008	-	Active	NO
5	U30007KA1997PTC022754	SIENNA ECAD TECHNOLOGIES PRIVATE LIMITED	Director	30/09/2009	04/06/2009	-	Active	NO
6	U31401TN2012PTC089188	ELEAVALON TECHNOLOGIES PRIVATE LIMITED	Director	28/12/2012	28/12/2012	-	Active	NO

Name :

Mr. Kunhammad Bicha

Designation :

Director

Address :

1092 Yarwood Court Sanjose, California, United States of America.

Date of Birth/Age :

12.04.1968

Date of Ceasing :

03.11.1999

DIN :

00819707

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	U30007TN1999PTC043479	AVALON TECHNOLOGIES PRIVATE LIMITED	Director	03/11/1999	03/11/1999	-	Active	NO
2	U72200TN2002PTC049632	EMANTRAS INTERACTIVE TECHNOLOGIES PRIVATE LIMITED	Director	20/09/2002	20/09/2002	-	Active	NO
3	U30007KA1997PTC022754	SIENNA ECAD TECHNOLOGIES PRIVATE LIMITED	Director	30/09/2009	04/06/2009	-	Active	NO
4	U72100TN2008PTC068955	AVALON TECHNOLOGY AND SERVICES PRIVATE LIMITED	Additional director	16/08/2013	16/08/2013	-	Active	NO

Name :

Mr. Srinivasan Bhaskar

Designation :

Director

Address :

1092 Yarwood Court Sanjose, California, U.S.A.

Date of Birth/Age :

03.06.1966

Date of Appointment :

03.11.1999

DIN :

02561215

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	U30007TN1999PTC043479	AVALON TECHNOLOGIES PRIVATE LIMITED	Director	03/11/1999	03/11/1999	-	Active	NO
2	U72200TN2002PTC049632	EMANTRAS INTERACTIVE TECHNOLOGIES PRIVATE LIMITED	Director	20/09/2002	20/09/2002	-	Active	NO
3	U30007KA1997PTC022754	SIENNA ECAD TECHNOLOGIES PRIVATE LIMITED	Director	30/09/2009	04/06/2009	-	Active	NO
4	U72100TN2008PTC068955	AVALON TECHNOLOGY AND SERVICES PRIVATE LIMITED	Additional director	16/08/2013	16/08/2013	-	Active	NO

Name :

Mr. Sareday Seshu Kumar

Designation :

Director

Address :

3, 3^rd Main Road, Indira Nagar, Adyar,Chennai-600020, Tamilnadu, India

Date of Birth/Age :

28.01.1969

Date of Appointment :

01.09.2001

DIN :

01646703

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	U30007TN1999PTC043479	AVALON TECHNOLOGIES PRIVATE LIMITED	Director	01/09/2001	01/09/2001	-	Active	NO
2	U72200TN2002PTC049632	EMANTRAS INTERACTIVE TECHNOLOGIES PRIVATE LIMITED	Managing director	20/09/2002	20/09/2002	-	Active	NO
3	U30007KA1997PTC022754	SIENNA ECAD TECHNOLOGIES PRIVATE LIMITED	Director	30/09/2009	04/06/2009	-	Active	NO

Name :

Mr. Anand Kumar

Designation :

Whole Time Director

Address :

3, Gajapathy Road, Kilpauk, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

14.10.1967

Date of Appointment :

01.04.2006

DIN :

00818724

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	U30007TN1999PTC043479	AVALON TECHNOLOGIES PRIVATE LIMITED	Director	01/04/2006	01/04/2006	-	Active	NO
2	U30007KA1997PTC022754	SIENNA ECAD TECHNOLOGIES PRIVATE LIMITED	Director	30/09/2009	04/06/2009	-	Active	NO

Name :

Mr. Shamil Bicha Maliyakal

Designation :

Whole Time Director

Address :

104 Defence, Chennai – 600097, Tamilnadu, India

Date of Birth/Age :

13.08.1974

Date of Appointment :

01.04.2006

DIN :

01854618

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares	%age holding
Thayagath Puthan Vettil Imbichammad	62500	48.02
Pallikadidy Maliyakkal Mariyambicha	1250	0.96
Srinivasan Bhaskar	50000	38.42
Sareday Seshu Kumar	11250	8.64
Anand Kumar	5150	3.96
Total	130150	100.00

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is mainly engaged in the business of manufacture and sale of Printed Circuit Boards (PCBs) (Registered Activity)

Products :

Item Code No.	Product Description
99833220	Engineering services for industrial and manufacturing projects

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

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 :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	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 :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Axis Bank Limited
Branch	CBB, Karumuthu Nilayam, No.192, Anna Salai, Chennai - 600002, Tamilnadu, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

· RBL Bank Limited, Opposite Hotel The Accord Metropolitan, GN Chetty
Road, T Nagar, Chennai- 600017, Tamilnadu, India

· Indian Bank, Madras Export Processing Zone Branch, Admin. Block, Mepz, Tambaram, Chennai- 600045, Tamilnadu, India

· Standard Chartered Bank, 19, Rajaji Salai, Chennai, Tamilnadu - 600001, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Million)	31.03.2012 (Rs. in Million)
Long-term Borrowings
Rupee term loans from others (Buyers Credit: Original tenure of 180 days with option to rollover upto a maximum period of 3 years)	4.344	22.823
Short-term borrowings
Rupee term loans from banks	1014.287	754.320
Total	1018.631	777.143
Notes : Short-term borrowings 1. First pari passu charge on the entire stock, consumable stores and spares and such other movables including book debts, bills, outstandin monies & receivables both present & future. Second pari passu charge on the entire fixed assets of the company excluding plant and machinery proposed to be purchased out of Capex facility granted by ICICI Bank. Second pari passu charge over the existing super structure/buildings constructed or to be constructed on the leased land situated in B7 and B8, MPEZ , Phase II, Tambaram, Chennai. 2. First pari passu charge by way of hypothecation of stocks and book debts of the company and Cash Margin on LC (10%). Second pari passu charge over the existing super structure/buildings constructed or to be constructed on the leased land situated at Plot No: B-7 & B-8, MEPZ Tambaram and other movable Fixed Assets of the company excluding the P&M charged to ICICI Bank Ltd. towards term loan facility granted by them. 3. Pari pasu first charge on the entire current assets of the company. Pari pasu second charges on the entire movable fixed assets of the company excluding the movable fixed assets exclusively charged to other banks. Pari pasu second charge on land and building constructed on the leased land situated at MEPZ Tambaram. Personal Guarantees of Mr. T P Imbichammed, Mr. Kunahammad and Mr. Bhaskar Srinivasan. Corporate guarantees of ABV Electronics INC (Known as Sienna Corporation).

Auditors :
Name :	Varma and Varma Chartered Accountants
Address :	Sreela Terrace, 105, 1^st Main Road, Gandhi Nagar, Adyar, Chennai-600020, Tamilnadu, India
Tel No.:	91-44-24452239/ 24423496
Fax No.:	91-44-24454234
Email :	chennai@varmaandvarma.com
Income-tax PAN of auditor or auditor's firm :	AANPS1927M

Memberships :	--

Collaborators :	--

Associates:	ABV Electronics Inc (Sienna Corporation), United States of America Avalon Advanced Technologies and Repair Inc. United States of America

Enterprises over which key management personnel or their relatives are able to exercise significant influence (As on 31.03.2013 :	Avalon Technology and Services Private Limited CIN No.: U72100TN2008PTC068955 Sienna Technology and Services Private Limited CIN No.: U72100TN2008PTC068956 Sienna E Cad Technologies Private Limited CIN No.: U30007KA1997PTC022754

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

200,000	Equity Shares	Rs.100/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

130,150	Equity Shares	Rs.100/- each	Rs. 13.015 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	13.015	13.015	13.015
(b) Reserves & Surplus	752.565	647.750	501.654
(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)	765.580	660.765	514.669

(3) Non-Current Liabilities
(a) long-term borrowings	4.344	22.823	18.632
(b) Deferred tax liabilities (Net)	0.000	5.084	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	31.204	67.879	4.245
Total Non-current Liabilities (3)	35.548	95.786	22.877

(4) Current Liabilities
(a) Short term borrowings	1014.287	754.320	596.506
(b) Trade payables	333.379	269.923	305.085
(c) Other current liabilities	16.806	28.040	48.530
(d) Short-term provisions	88.043	54.524	23.851
Total Current Liabilities (4)	1452.515	1106.807	973.972

TOTAL	2253.643	1863.358	1511.518

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	291.907	313.653	186.177
(ii) Intangible Assets	17.276	24.063	3.518
(iii) Capital work-in-progress	0.000	13.125	44.044
(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)	0.739	0.000	2.770
(d) Long-term Loan and Advances	16.080	16.183	10.367
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	326.002	367.024	246.876

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	453.268	460.476	410.148
(c) Trade receivables	1357.973	939.545	736.555
(d) Cash and cash equivalents	24.900	42.458	55.027
(e) Short-term loans and advances	91.500	53.855	62.912
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1927.641	1496.334	1264.642

TOTAL	2253.643	1863.358	1511.518

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	2401.635	1960.729	1739.743

Less	EXPENSES
		TOTAL	2257.157	1851.616	1643.127

	PROFIT/ (LOSS) BEFORE TAX		144.478	109.113	96.616

Less	TAX		33.138	27.921	21.479

	PROFIT/ (LOSS) AFTER TAX		111.340	81.192	75.137

	EARNINGS IN FOREIGN CURRENCY		2002.053	1895.186	1663.548

	Earnings / (Loss) Per Share (Rs.)		855.47	623.83	577.31

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2013	31.03.2012	31.03.2011
Current Maturities of Long term debt	NA	0.000	26.760
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	(111.065)	(26.576)	(22.532)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT / Total Income)	(%)	4.64	4.14	4.32

Return on Total Assets (PBT/Total Assets}	(%)	6.41	5.90	6.60

Return on Investment (ROI) (PBT/Networth)		0.19	0.17	0.19

Debt Equity Ratio (Total Debt /Networth)		1.33	1.18	1.25

Current Ratio (Current Asset/Current Liability)		1.33	1.35	1.30

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	13.015	13.015	13.015
Reserves & Surplus	501.654	647.750	752.565
Net worth	514.669	660.765	765.580

long-term borrowings	18.632	22.823	4.344
Short term borrowings	596.506	754.320	1014.287
Total borrowings	615.138	777.143	1018.631
Debt/Equity ratio	1.195	1.176	1.331

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	1739.743	1960.729	2401.635
		12.702	22.487

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	1739.743	1960.729	2401.635
Profit	75.137	81.192	111.340
	4.32%	4.14%	4.64%

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	No
8]	Designation of contact person	No
9]	Promoter’s background	Yes
10]	Date of Birth of Proprietor / Partners / Directors	Yes
11]	Pan Card No. of Proprietor / Partners
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	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 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

OPERATIONAL REVIEW:

During the year, the Company has achieved an increased turnover of Rs. 2401.634 Million as compared to the last year of Rs. 1960.729 Million. The Net Profits of the Company has increased to Rs.111.340 Million as compared to Rs.81.193 Million in the previous year.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10564449	15/04/2015	100,000,000.00	RBL Bank Limited	OPPOSITE Hotel The Accord Metropolitan, GN Chetty Road, T Nagar, Chennai, Tamil Nadu - 600017, INDIA	C51286953
2	10564468	15/04/2015	150,000,000.00	RBL Bank Limited	OPPOSITE Hotel The Accord Metropolitan, GN Chetty Road, T Nagar, Chennai, Tamil Nadu - 600017, INDIA	C51292548
3	10528725	09/10/2014	300,000,000.00	Indian Bank	MADRAS EXPORT PROCESSING ZONE BRANCH, ADMIN. BLOCK, MEPZ, TAMBARAM, CHENNAI, Tamil Nadu - 600045, INDIA	C32005498
4	10397511	27/05/2014 *	500,000,000.00	AXIS BANK LIMITED	CORPORATE BANKING BRANCH, KARUMUTHU NILAYAM, NO.192, ANNA SALAI, CHENNAI, Tamil Nadu - 600002, INDIA	C09295791
5	10350556	01/03/2012	276,000,000.00	BANK OF INDIA	Chennai MID Corporate Branch,826/6, ANNA SALAI, TARAPORE TOWERS, IV FLOOR,, CHENNAI, Tamil Nadu - 600002, INDIA	B37835337
6	10342195	10/04/2015 *	403,000,000.00	Standard Chartered Bank	19, Rajaji Salai, Chennai, Tamil Nadu - 600001, INDIA	C50325273
7	10337056	06/03/2012 *	600,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA	B38378337
8	10108262	12/03/2009 *	105,000,000.00	3i Infotech Trusteeship Services Limited	3rd to 6th floor, International Infotech Park,, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai, Maharashtra - 400703, INDIA	A59253278

* Date of charge modification

CONTINGENT LIABILITIES :

(Rs. In Million)

Particulars	31.03.2013	31.03.2012

Claims against the company not acknowledged as debts	18.129	18.129

FIXED ASSETS

Leasehold Building
Machinery
Air Conditioner
Computers
Cycle
Electrical Fittings
Furniture and Fittings
Vehicles
Office Equipment
Fire Protection Equipment
Weighing Machine

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 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.66.20
UK Pound	1	Rs.98.29
Euro	1	Rs.72.41

INFORMATION DETAILS

Information Gathered by :	PPT

Analysis Done by :	TRI

Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		32

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.