MIRA INFORM REPORT

Report No. :	307456
Report Date :	10.02.2015

IDENTIFICATION DETAILS

Name :	SANSERA ENGINEERING PRIVATE LIMITED
Registered Office :	261/C, Bommasandra Industrial Area, Hebbagodi Post, Anekal Taluk, Bangalore – 560099, Karnataka
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	15.12.1981
Com. Reg. No.:	08-004542
Capital Investment / Paid-up Capital :	Rs.111.474 Millions
CIN No.: [Company Identification No.]	U34103KA1981PTC004542
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	BLRS14664G
PAN No.: [Permanent Account No.]	AAECS2440M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Auto Components such as Rocker Arms, Connecting Rods, Gear Shifters, Crank Shafts and Aerospace Components.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 8700000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having good track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered for business dealings at usual business terms and conditions,

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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	ICRA
Rating	Long Term Funds = A+
Rating Explanation	Adequate degree of safety and low credit risk
Date	September 2014

Rating Agency Name	ICRA
Rating	Short Term Funds = A1
Rating Explanation	Very string degree of safety and lowest credit risk
Date	September 2014

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 31-03-2014.

LOCATIONS

Registered Office/ Corporate Office / Factory 1 :	261/C, Bommasandra Industrial Area, Hebbagodi Post, Anekal Taluk, Bangalore – 560099, Karnataka, India
Tel. No.:	91-80-27833056/ 27833442/ 27833642
Fax No.:	91-80-27833642
E-Mail :	support@sanseraindia.com sansera@vsnl.com
Website :	http://www.sanseraindia.com
Factory 2 :	No.8 (1106/8), A.M. Industrial Estate, G.B. Palya, Hosur Road, Bangalore – 560068, Karnataka, India
Tel. No.:	91-80-25731078/ 25731088/ 25731227
Fax No.:	91-80-25731092
Factory 3 :	No.1, Bommasaandra-Jigani Link Road, Bommasandra Industrial Area, Bangalore, Karnataka, India
Tel. No.:	91-80-27839304/ 5/ 6/ 8
Fax No.:	91-80-27839307
Factory 4 :	Plot No.22 and 23, Sector-6, IMT Manesar, Gurgaon – 122050, Haryana, India
Tel. No.:	91-124-4367600/ 03
Fax No.:	91-124-4367604
Factory 5 :	B-18, MIDC Industrial Area Chakan, Pune – 410501, Maharashtra, India
Tel. No.:	91-2135-666228
Fax No.:	91-2135-666222
Factory 6 :	Plot No.18, Sector-09, IIE, Pantnagar, District Udham Singh Nagar, Uttarakhand, India
Tel. No.:	91-5944-250306/ 307
Fax No.:	91-5944-250308
Factory 7 :	Survey No.143/A, Bommasaandra-Jigani Link Road, Bangalore – 560015, Karnataka, India
Tel. No.:	91-80-27839081/ 2/ 3
Fax No.:	91-80-27839309

DIRECTORS

As on 30.09.2014

Name :

Mr. Subramonia Sekhar Vasan

Designation :

Managing Director

Address :

Oriental Homes, No.51, Ranga Rao Road, Basavabagudi, Bangalore – 560004, Karnataka, India

Date of Birth/Age :

02.03.1953

Qualification :

B. Tech (IIT) PGDM (IIMB)

Date of Appointment :

08.07.2013

PAN No.:

ACSPV4395H

DIN No.:

00361245

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	U34103KA1981PTC004542	SANSERA ENGINEERING PRIVATE LIMITED	Managing director	08/07/2013	15/12/1981	-	Active	NO
2	U28991KA1999PTC026145	GEAROCK FORGE PRIVATE LIMITED	Director	29/12/1999	29/12/1999	-	Active	NO
3	U29299KA2007PTC043270	Streparava India Private Limited	Director	28/06/2007	28/06/2007	15/07/2013	Active	NO

Name :

Mr. Fatheraj Premraj Singhvi

Designation :

Managing Director

Address :

Shanthi, No.232, Vishranti Enclave, Doddakalasandra Village, Kanakapura Road, Bangalore – 560062, Karnataka, India

Date of Birth/Age :

14.04.1955

Qualification :

B.Com, FCA

Date of Appointment :

26.02.2008

PAN No.:

AGHPS5273J

DIN No.:

00233146

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	U34103KA1981PTC004542	SANSERA ENGINEERING PRIVATE LIMITED	Managing director	26/02/2008	01/03/1991	-	Active	NO
2	U02693KA1992PTC013599	MULDER (INDIA)PRIVATE LIMITED	Director	13/10/1992	13/10/1992	-	Active	NO
3	U28991KA1999PTC026145	GEAROCK FORGE PRIVATE LIMITED	Director	29/12/1999	29/12/1999	-	Active	NO
4	U74999KA2006PTC040111	R.A.K. MULDER PORCELAIN PRIVATE LIMITED	Director	03/08/2006	03/08/2006	-	Active	NO
5	U29299KA2007PTC043270	Streparava India Private Limited	Director	28/06/2007	28/06/2007	15/07/2013	Active	NO
6	U99999DL1959PLC176013	AUTOMOTIVE COMPONENT MANUFACTURERS ASSOCIATION OF INDIA	Director	03/09/2008	03/09/2008	-	Active	NO
7	U74900KA2011PTC056928	EFF N' BEE HOSPITALITY PRIVATE LIMITED	Director	04/02/2011	04/02/2011	-	Active	NO
8	U29220KA1983PTC005690	FITWELL TOOLS AND FORGINGS PRIVATE LIMITED	Director	30/09/2011	24/06/2011	-	Active	NO
9	U51109KA2012PTC065155	MULDER TRADING PRIVATE LIMITED	Director	02/08/2012	02/08/2012	-	Active	NO

Name :

Mr. Unni Rajagopal Kothenath

Designation :

Director

Address :

Taravad Palanahalli, Yelahanka Post, Bangalore – 560064, Karnataka, India

Date of Birth/Age :

17.07.1954

Qualification :

B.A., FCA

Date of Appointment :

01.03.1991

PAN No.:

ABGPR0823H

DIN No.:

00229915

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	U34103KA1981PTC004542	SANSERA ENGINEERING PRIVATE LIMITED	Director	01/03/1991	01/03/1991	-	Active	NO
2	U02693KA1992PTC013599	MULDER (INDIA)PRIVATE LIMITED	Director	24/09/1997	24/09/1997	27/03/2014	Active	NO
3	U74140MH1998PTC116442	DFK CONSULTING SERVICES (INDIA) PRIVATE LIMITED	Director	04/09/1998	04/09/1998	17/02/2010	Active	NO
4	U29299KA2007PTC043270	Streparava India Private Limited	Director	09/08/2010	09/08/2010	15/07/2013	Active	NO

Name :

Mr. Satish Chavva

Designation :

Director

Address :

80 City Harbour, 8 Selsdon Way, London E149GR

Date of Birth/Age :

20.12.1974

Date of Appointment :

30.09.2013

DIN No.:

03615175

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	U51909MH2000PTC139321	YOU Broadband India Private Limited	Director	30/09/2011	26/09/2011	-	Active	NO
2	U34103KA1981PTC004542	SANSERA ENGINEERING PRIVATE LIMITED	Director	30/09/2013	08/07/2013	-	Active	NO

Name :

Mr. Raunak Gupta

Designation :

Director

Address :

C-21, Trishul Bldg., Near Holy Spirit Hospital, Mahakali Caves Road, Andheri East, Mumbai – 400093, Maharashtra, India

Date of Birth/Age :

28.12.1978

Date of Appointment :

30.09.2013

DIN No.:

06624489

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	U34103KA1981PTC004542	SANSERA ENGINEERING PRIVATE LIMITED	Director	30/09/2013	08/07/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ramkrishanan Subramanian
Designation :	Secretary
Address :	A202, Nagarjuna Enclave, 76/A, 14^th Cross, 1^st Phase, J P Nagar, Bangalore – 400050, Karnataka, India
Date of Birth/Age :	13.07.1973
Date of Appointment :	01.07.2014
PAN No.:	AAHPR0308P

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders (Equity Shares)	No. of Shares
CVCIGP II Client Ebene Limited, Mauritius	21164
Sekhar Vasan	15821
CVCIGP II Employee Ebene Limited, Mauritius	11853
Devappa Devaraj	4713
Fatheraj Singhvi	4713
Unni Rajagopal K	4713
Sekhar Vasan	1155
Nissin Manufacturer Company Limited	300
Karthik Das	208
Anjana Iyer	100
Total	64740

Names of Shareholders (Preference Shares)	No. of Shares
Series ‘A’
CVCIGP II Employee Ebene Limited, Mauritius	107700
CVCIGP II Client Ebene Limited, Mauritius	192300
Series ‘B’
CVCIGP II Employee Ebene Limited, Mauritius	269250
CVCIGP II Client Ebene Limited, Mauritius	480750
Total	1050000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	51.46
Directors or relatives of Directors	48.54
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Auto Components such as Rocker Arms, Connecting Rods, Gear Shifters, Crank Shafts and Aerospace Components.

Products :

Product Description	Item Code No. (ITC Code)
Arm Valve Rocker	84099111
SP Rocket	84099191
Crank Shaft	84831091
Gear Shifter	87141900
Connecting Rod	87141900
Aerospace Components	88033000

Brand Names :

--

Agencies Held :

--

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Not Available

Purchasing :

Not Available

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available
Remark :	Not Available

Customers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available
Remark :	Not Available

No. of Employees :

Not Available

Bankers :

• CITI Bank N.A., 506-507, Level 5, Prestige Meridian 2, No.30, M.G. Road, Bangalore – 560 001, Karnataka, India
• Export-Import Bank of India, Centre One Building, Floor - 21, World Trade Centre Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India
• State Bank of India, Specialised Commercial Branch, Krishi Bhavan, Hudson Circle, Bangalore -560001, Karnataka, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
Rupee term loans from banks	159.870	485.690
Rupee term loans from others	366.470	291.760
SHORT TERM BORROWINGS
Rupee term loans from banks	1034.250	1067.290
Total	1560.590	1844.740

Auditors :
Name :	B S R and Company Chartered Accountants
Address :	Maruti Info Tech Centre, 11-12/1, Inner Ring Road Koramangala, Bangalore – 560 071, Karnataka, India
PAN No.:	ABVPM0614N
Memberships :	--
Collaborators :	--
Holding Companies :	CVCIGPII Client Ebene Limited CVCIGPII Employee Ebene Limited
Subsidiaries companies :	Gearock Forge Private Limited CIN No.: U28991KA1999PTC026145 Fitwel Tools and Forgings Private Limited CIN No.: U29220KA1983PTC005690 Streparava India Private Limited CIN No.: U29299KA2007PTC043270 Sansera + Streparava Engineering Private Limited (Upto 15 July 2013)
Partnership firm in which the Company/ Director is a partner:	Singhvi Dev and Unni

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1150000	Equity Shares	Rs.100/- each	Rs.115.000 Millions
1050000	Preference Shares	Rs.100/- each	Rs.105.000 Million
	Total		Rs.220.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
64740	Equity Shares	Rs.100/- each	Rs.6.474 Millions
1050000	Preference Shares	Rs.100/- each	Rs.105.000 Millions
	Total		Rs.111.474 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	111.474	6.474	7.020
(b) Reserves & Surplus	2,908.460	1,723.410	1,865.520
(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)	3,019.934	1,729.884	1,872.540
(3) Non-Current Liabilities
(a) long-term borrowings	526.340	777.450	750.710
(b) Deferred tax liabilities (Net)	138.620	124.100	106.200
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	3.640	6.590	16.650
Total Non-current Liabilities (3)	668.600	908.140	873.560
(4) Current Liabilities
(a) Short term borrowings	1,190.550	1,244.850	1,092.700
(b) Trade payables	451.240	434.650	463.530
(c) Other current liabilities	432.276	451.646	375.690
(d) Short-term provisions	14.410	0.310	11.470
Total Current Liabilities (4)	2,088.476	2,131.456	1,943.390
TOTAL	5,777.010	4,769.480	4,689.490
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2,476.320	2,216.650	1,955.860
(ii) Intangible Assets	9.220	11.330	8.870
(iii) Capital work-in-progress	168.590	124.820	213.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	139.550	229.430	229.430
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	443.660	402.350	355.260
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3,237.340	2,984.580	2,762.420
(2) Current assets
(a) Current investments	0.100	0.100	0.100
(b) Inventories	971.920	738.000	699.540
(c) Trade receivables	1,188.350	873.160	779.480
(d) Cash and cash equivalents	150.650	56.710	333.350
(e) Short-term loans and advances	224.400	116.540	111.160
(f) Other current assets	4.250	0.390	3.440
Total Current Assets	2,539.670	1,784.900	1,927.070
TOTAL	5,777.010	4,769.480	4,689.490

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
INCOME		5,872.330	4,902.140	4,631.300
EXPENSES		5,304.960	4,616.320	4,383.740
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1116.490	842.130	NA
PROFIT BEFORE TAX AND PRIOR PERIOD ITEMS		555.980	285.820	247.560
PRIOR PERIOD EXPENSES/ INCOME		0.000	0.000	15.890
PROFIT BEFORE TAX		555.980	285.820	231.670
TAX		140.930	78.480	48.820
PROFIT AFTER TAX		415.050	207.340	182.850
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1138.200	952.140	811.050
APPROPRIATIONS
	Transfer to General Reserve	0.000	20.730	18.280
	Dividend	0.000	0.000	20.160
	Tax on Dividend	0.000	0.000	3.320
BALANCE CARRIED TO THE B/S		1553.250	1138.200	952.140
EARNINGS IN FOREIGN CURRENCY		1176.080	643.620	NA
Earnings / (Loss) Per Share (Rs.)		94989.00	3202.66	2613.16

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	10.37	6.47	5.83
Return on Investment (ROI) (PBT/Networth)		0.19	0.17	0.13
Debt Equity Ratio (Total Debt /Networth)		0.57	1.17	0.98
Current Ratio (Current Asset/Current Liability)		1.22	0.84	0.99

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	7.020	6.474	111.474
Reserves & Surplus	1865.520	1723.410	2908.460
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1872.540	1729.884	3019.934
Long Term borrowings	750.710	777.450	526.340
Short Term borrowings	1092.700	1244.850	1190.550
Total borrowings	1843.410	2022.300	1716.890
Debt/Equity ratio	0.984	1.169	0.569

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Income	4,631.300	4,902.140	5,872.330
		5.848	19.791

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Income	4,631.300	4,902.140	5,872.330
Profit	198.740	207.340	567.370
	4.29%	4.23%	9.66%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
SHORT TERM BORROWINGS
Loans repayable on demand from others	150.000	0.000
Working capital loans from banks	0.000	50.000
Loans and advances from related parties	6.300	27.560
Other loans and advances	0.000	100.000
Total	156.300	177.560

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10523536	19/09/2014	100,000,000.00	Citi Bank N.A.	2nd Floor, No. 5,, M. G. Road,, Bangalore, Karnataka - 560001, India	C25201682
2	10518977	14/08/2014	200,000,000.00	Bajaj Finance Limited	Akurdi, Pune, Maharashtra - 411035, India	C19864917
3	10476621	01/01/2014	200,000,000.00	Bajaj Finance Limited	Mumbai - Pune Road,, Akurdi, Pune, Maharashtra -  411035, India	B95957882
4	10345624	10/09/2012 *	400,000,000.00	Bajaj Finance Limited	4th Floor, Bajaj Finserv Corporate Office,, Off P  Une-Ahmednagar Road, Viman Nagar,, Pune, Maharashtra - 411014, India	B58860610
5	10331648	10/09/2012 *	120,000,000.00	Citi Bank N.A.	506-507, Level 5, Prestige Meridian 2,, No.30, M.G. Road,, Bangalore, Karnataka - 560001, India	B58862921
6	90194595	19/09/2014 *	720,000,000.00	Citi Bank N.A.	506-507, Level 5, Prestige Meridian 2,No.30,, M.G. Road,, Bangalore, Karnataka - 560001, India	C25186339
7	80003319	20/04/2013 *	2,451,300,000.00	State Bank Of India	Specialised Commercial Branch, Krishi Bhavan, Hudson Circle, Bangalore, Karnataka - 560001, India	B75323428
8	90189427	09/02/2005 *	24,200,000.00	State Bank Of India	Bangalore Commercial Branch, Krishi Bhavan. Hudson Circle, Bangalore, Karnataka - 560001, India	-
9	90191736	30/07/2004 *	24,200,000.00	State Bank Of India	Bangalore Commercial Branch, Krishi Bhavan Hundson Circle, Bangalore, Karnataka - 560001, India	-
10	90194050	21/03/2005 *	24,200,000.00	State Bank Of India	Banagalore Commercial Branch, Krishi Bhavan; Hudson Circle, Bangalore, Karnataka, India	-
11	90191096	02/12/1994 *	277,200.00	State Bank Of India	Sib Division, Bangalore City Branch; J. C. Road,  Bangalore, Karnataka - 560002, India	-
12	90193712	27/11/1995 *	277,200.00	State Bank Of India	Banagalore City Branch, J. C. Road, Bangalore, Karnataka, India	-
13	90190282	08/05/1995 *	850,000.00	State Bank Of India	Bangalore City Branch, J. C. Road, Bangalore, Karnataka - 560002, India	-
14	90193371	26/04/1993 *	850,000.00	State Bank Of India	Bangalore City Branch, J. C. Road, Bangalore, Karnataka - 560002, India	-
15	90194860	23/03/1994 *	850,000.00	State Bank Of India	Banagalore City Branch, J. C. Road, Bangalore, Karnataka - 560002, India	-

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.62.14
UK Pound	1	Rs.94.79
Euro	1	Rs.70.38

INFORMATION DETAILS

Analysis Done by :	SUC
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		50

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.