MIRA INFORM REPORT

Report No. :	307666
Report Date :	14.02.2015

IDENTIFICATION DETAILS

Name :	BMR INDUSTRIES PRIVATE LIMITED (w.e.f. 29.03.2010)
Formerly Known As :	BMR INDUSTRIES LIMITED (w.e.f. 16.12.1998) CLASWIN INDUSTRIES LIMITED (w.e.f. 17.08.1995) CLASWIN AQUA BASE LIMITED (w.e.f. 13.06.1995) CLASWIN AQUA BASE PRIVATE LIMITED
Registered Office :	S-10, TNHB Complex, 180, Luz Church Road, Mylapore, Chennai – 600 004, Tamilnadu
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.06.1994
Com. Reg. No.:	18-027920
Capital Investment / Paid-up Capital :	Rs.30.358 millions
CIN No.: [Company Identification No.]	U05001TN1994PTC027920
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of farming, cultivation, culturing, manufacturing, harvesting or any other means, the business of hatching, growing, producing, harvesting, processing, curing, tanning, marketing, selling, importing and exporting or otherwise distributing of shrimps, prawns, crustacean, mollusk, aces and mammalian.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 141000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating takes into consideration company’s low reserves level and increased in the borrowings of the company during FY 2014. However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

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

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 31-03-2014.

LOCATIONS

Registered Office :	S-10, TNHB Complex, 180, Luz Church Road, Mylapore, Chennai – 600 004, Tamilnadu, India
Tel. No. :	91-44-24661082/ 24670733
Fax No. :	91-44-24661374
E-Mail :	bmraccts@gmail.com

DIRECTORS

AS ON 30.09.2014

Name :

Ramachandra Reddy Singannagari

Designation :

Whole-time director

Address :

No.2, N. Block, Turnbulls Road, 4^th Cross Street, Nandanam, Chennai – 600 035, Tamilnadu, India

Date of Birth/Age :

15.06.1959

Date of Appointment :

01.04.2011

DIN No. :

00470068

PAN No.:

ADSPR4588D

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	U52599TN1993PTC024611	BOB ACQUA BASE PRIVATE LIMITED	Whole-time director	01/04/2011	11/10/1999	-	Active	NO
2	U05001TN1994PTC027920	BMR INDUSTRIES PRIVATE LIMITED	Whole-time director	01/04/2011	12/04/2001	-	Active	NO
3	U05001TN1993PTC026385	BMR MARINE PRODUCTS PRIVATE LIMITED	Director	27/09/2010	30/08/2010	-	Active	NO
4	U05005AP1993PTC016421	SRI SAMPAT VINAYAK AQUA PRODUCTS PRIVATE LIMITED	Director	18/02/2013	18/02/2013	-	Active	NO
5	U05001TN1993PTC025803	HYBRID EBI HATCHERIES PRIVATE LIMITED	Director	30/03/2013	25/02/2013	-	Active	NO
6	U15400AP2011PTC076567	SIMHAPURI MEGA FOOD PARK PRIVATE LIMITED	Additional director	10/09/2013	10/09/2013	-	Active	NO

Name :

Mr. Ravindra Babu Erigineni

Designation :

Director

Address :

Ravi Raju Rice Mill, Peddapadugupadu, Nellore – 524 001, Andhra Pradesh, India

Date of Birth/Age :

10.06.1963

Date of Appointment :

27.09.2010

DIN No. :

01268041

PAN No.:

AABPE6519R

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	U05001TN1993PTC026385	BMR MARINE PRODUCTS PRIVATE LIMITED	Whole-time director	01/04/2011	16/12/1993	-	Active	NO
2	U05001TN1993PTC025803	HYBRID EBI HATCHERIES PRIVATE LIMITED	Whole-time director	01/04/2011	18/08/2000	-	Active	NO
3	U05001TN1994PTC027920	BMR INDUSTRIES PRIVATE LIMITED	Director	27/09/2010	09/10/2009	-	Active	NO
4	U52599TN1993PTC024611	BOB ACQUA BASE PRIVATE LIMITED	Director	27/09/2010	09/10/2009	-	Active	NO

Name :

Venkata Manjula Beeda

Designation :

Director

Address :

No.6, Royal Enclave, Besant Avenue Road, Adyar, Chennai – 600 020, Tamilnadu, India

Date of Birth/Age :

01.09.1966

Date of Appointment :

27.09.2013

DIN No. :

00828024

PAN No.:

AFOPM2785H

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	U70101TN1997PTC037339	BMRS CONSTRUCTIONS PRIVATE LIMITED	Director	18/03/1998	18/03/1998	-	Active	NO
2	U01119TN1996PTC034294	BMR AGRO ESTATES PRIVATE LIMITED	Director	17/01/2005	17/01/2005	-	Active	NO
3	U05001TN1993PTC025803	HYBRID EBI HATCHERIES PRIVATE LIMITED	Director	30/03/2013	01/10/2007	-	Active	NO
4	U05001TN1994PTC027920	BMR INDUSTRIES PRIVATE LIMITED	Director	27/09/2013	25/02/2013	-	Active	NO
5	U05001TN1993PTC026385	BMR MARINE PRODUCTS PRIVATE LIMITED	Whole-time director	01/04/2013	25/02/2013	-	Active	NO

Name :

Mr. Ravi Chandra Beeda

Designation :

Whole-time director

Address :

Iskapalli Village, Allur Mandalam, Nellore District – 524 324, Andhra Pradesh, India

Date of Birth/Age :

29.07.1969

Date of Appointment :

09.04.2012

DIN No. :

00470219

PAN No.:

AHOPB7907N

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	U52599TN1993PTC024611	BOB ACQUA BASE PRIVATE LIMITED	Whole-time director	01/04/2011	15/03/1993	-	Active	NO
2	U01119TN1996PTC034294	BMR AGRO ESTATES PRIVATE LIMITED	Director	08/02/1996	08/02/1996	-	Active	NO
3	U05001TN1994PTC027920	BMR INDUSTRIES PRIVATE LIMITED	Whole-time director	09/04/2012	02/09/1996	-	Active	NO

Name :

Mr. Manoj Beeda

Designation :

Director

Address :

No.6, Royal Enclave, Besant Avenue Road, Adyar, Chennai – 600 020, Tamilnadu, India

Date of Birth/Age :

08.01.1989

Date of Appointment :

27.09.2013

DIN No. :

05147243

PAN No.:

ANJPB8421C

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	U05005AP1993PTC016421	SRI SAMPAT VINAYAK AQUA PRODUCTS PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
2	U05001TN1994PTC027920	BMR INDUSTRIES PRIVATE LIMITED	Director	27/09/2013	25/02/2013	-	Active	NO
3	U05001TN1993PTC026385	BMR MARINE PRODUCTS PRIVATE LIMITED	Director	01/04/2013	25/02/2013	-	Active	NO
4	U05001TN1993PTC025803	HYBRID EBI HATCHERIES PRIVATE LIMITED	Director	30/03/2013	25/02/2013	-	Active	NO
5	U45201TN2007PTC062666	SERENE PLAZA PRIVATE LIMITED	Director	30/09/2014	26/10/2013	-	Active	NO

Name :

Masthan Rao Beeda

Designation :

Director

Address :

No.6, Royal Enclave, Besant Avenue Road, Adyar, Chennai – 600 020, Tamilnadu, India

Date of Birth/Age :

02.07.1958

Date of Appointment :

30.09.2014

DIN No. :

00320065

PAN No.:

AGPPM2259N

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	U52599TN1993PTC024611	BOB ACQUA BASE PRIVATE LIMITED	Director	15/03/1993	15/03/1993	30/10/2009	Active	NO
2	U67120TN1993PTC025418	BMR SHARES AND STOCKS PRIVATE LIMITED	Director	09/07/1993	09/07/1993	-	Active	NO
3	U05001TN1993PTC026385	BMR MARINE PRODUCTS PRIVATE LIMITED	Director	16/12/1993	16/12/1993	30/10/2009	Active	NO
4	U05001TN1994PTC027920	BMR INDUSTRIES PRIVATE LIMITED	Director	30/09/2014	24/10/1996	-	Active	NO
5	U70101TN1997PTC037339	BMRS CONSTRUCTIONS PRIVATE LIMITED	Director	17/01/1997	17/01/1997	-	Active	NO
6	U15127TN1999PTC043100	CLASWIN AQUA CONSULTANTS (INDIA) PRIVATE LIMITED	Managing director	01/09/1999	01/09/1999	-	Active	NO
7	U72200TN2000PTC044576	SERENE INFRASTRUCTURE PRIVATE LIMITED	Director	30/07/2007	29/03/2000	-	Active	NO
8	U01119TN1996PTC034294	BMR AGRO ESTATES PRIVATE LIMITED	Director	17/01/2005	17/01/2005	-	Active	NO
9	U45201TN2006PTC058944	SERENE ESTATES PRIVATE LIMITED	Director	22/02/2006	22/02/2006	-	Active	NO
10	U45201TN2007PTC062666	SERENE PLAZA PRIVATE LIMITED	Director	08/03/2007	08/03/2007	-	Active	NO
11	U15400AP2011PTC076567	SIMHAPURI MEGA FOOD PARK PRIVATE LIMITED	Director	16/09/2011	16/09/2011	-	Active	NO

KEY EXECUTIVES

Name :	P. Krishna Kumar
Designation :	Practising Company Secretary
Address :	FI-2C, II Floor, Nanditha Apartments, No.50/47, Thirumalai Pillai Road, T. Nagar, Chennai – 600 017, Tamilnadu, India
Mobile No.:	91-9841316889
E-Mail :	kkfcs1@gmail.com

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
B. Masthan Rao	1700000
B. Masthan Rao (HUF)	131250
B.V. Manjula	286000
D.V. Sateesh	21800
S. Ramachandra Reddy	84000
N. Ramanaiah	15000
N. Ramanamma	22000
B. Ravi Chandra	15000
D. Venkata Subbaiah	10000
V. Ayyappa	10000
V. Vijaya Lakshmi	10000
D. Srinivasulu	27000
E. Ravindra Babu	48750
D. Rajalakshmi	7500
B. Manoj	577500
BMR Agro Estates Private Limited, India	20000
BMRS Constructions (Private) Limited, India	50000
Total	3035800

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	2.31
Directors or relatives of Directors	95.75
Other top fifty shareholders	1.94
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of farming, cultivation, culturing, manufacturing, harvesting or any other means, the business of hatching, growing, producing, harvesting, processing, curing, tanning, marketing, selling, importing and exporting or otherwise distributing of shrimps, prawns, crustacean, mollusk, aces and mammalian.
Products :	Shrimps, prawns, crustacean, mollusk, aces and mammalian
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	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

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

No. of Employees :

Not Available

Bankers :

Banker Name	Bank of Baroda
Branch Address	Chennai Main Branch, New No.70 (Old No.28), Rajaji Salai, Chennai – 600 001, Tamilnadu, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Term Loans from Banks	66.796	0.301
SHORT TERM BORROWINGS
Secured Loans repayable on demand to Banks:
- Working Capital Loans	5.399	1.140
Total	72.195	1.441

Banking Relations :	--
Auditors :
Name :	V.S. Reddy and Company Chartered Accountants
Address :	S-19, TNHB Complex, No.4, Luz Church Road, Mylapore, Chennai – 600 004, Tamilnadu, India
PAN No.:	AADFV8995J
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital : Rs..170.000 millions

Issued, Subscribed & Paid-up Capital : Rs.30.358 millions

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3035800	Equity Shares	Rs.10/- each	Rs.30.358 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	30.358	10.068	10.068
(b) Reserves & Surplus	18.957	16.114	12.879
(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)	49.315	26.182	22.947
(3) Non-Current Liabilities
(a) Long-term borrowings	66.796	0.301	0.467
(b) Deferred tax liabilities (Net)	3.410	3.491	3.531
(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)	70.206	3.792	3.998
(4) Current Liabilities
(a) Short term borrowings	5.399	1.140	2.990
(b) Trade payables	20.388	7.818	6.960
(c) Other current liabilities	3.496	0.841	0.818
(d) Short-term provisions	0.178	0.735	0.804
Total Current Liabilities (4)	29.461	10.534	11.572
TOTAL	148.982	40.508	38.517
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	25.085	25.895	26.831
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	66.326	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.001	0.001	0.001
(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	91.412	25.896	26.832
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2.069	1.963	4.143
(c) Trade receivables	5.165	8.743	4.154
(d) Cash and cash equivalents	4.369	0.895	1.251
(e) Short-term loans and advances	45.923	2.678	2.097
(f) Other current assets	0.044	0.333	0.040
Total Current Assets	57.570	14.612	11.685
TOTAL	148.982	40.508	38.517

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	71.055	58.111	87.992
		Other Income
		TOTAL	71.055	58.111	87.992
Less	EXPENSES
		TOTAL	66.808	53.175	82.221
	PROFIT/ (LOSS) BEFORE TAX		4.247	4.936	5.771
Less	TAX		1.403	1.701	1.939
	PROFIT/ (LOSS) AFTER TAX		2.844	3.235	3.832
	Earnings / (Loss) Per Share (Rs.)		0.94	3.21	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	5.14	12.19	14.98
Return on Investment (ROI) (PBT/Networth)		0.09	0.19	0.25
Debt Equity Ratio (Total Debt/Networth)		1.46	0.06	0.15
Current Ratio (Current Asset/Current Liability)		1.95	1.39	1.01

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	10.068	10.068	30.358
Reserves & Surplus	12.879	16.114	18.957
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	22.947	26.182	49.315
Long Term borrowings	0.467	0.301	66.796
Short Term borrowings	2.990	1.140	5.399
Total borrowings	3.457	1.441	72.195
Debt/Equity ratio	0.151	0.055	1.464

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Total Income	87.992	58.111	71.055
		(33.959)	22.275

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Total Income	87.992	58.111	71.055
Profit	3.832	3.235	2.844
	4.35%	5.57%	4.00%

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	No
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	No

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90298629	05/09/2001 *	65,977,000.00	BANK OF BARODA	SAF BRANCH, CHOOLAIMEDU, CHENNAI, TAMILNADU - 600094, INDIA	-
2	90298628	24/03/2001 *	33,715,000.00	BANK OF BARODA	SAF BRANCH, CHOOLAIMADU, CHENNAI, TAMILNADU - 600094, INDIA	-
3	90300574	14/09/1994 *	15,285,000.00	BANK OF BARODA	NO. 28; RAJAJI SALAI, MADRAS, TAMILNADU - 600001, INDIA	-
4	90298547	21/02/2001 *	15,285,000.00	BANK OF BARODA	SAF BRANCH, CHOOLAIMADU, CHENNAI, TAMILNADU - 600094, INDIA	-
5	90300424	25/03/2014 *	619,800,000.00	BANK OF BARODA	CHENNAI MAIN BRANCH, NEW NO.70 (OLD NO.28), RAJAJI SALAI, CHENNAI, TAMINADU - 600001, INDIA	C03620200

* Date of charge modification

FIXED ASSETS

· Land

· Buildings

· Plant and Machinery

· Electrical Fittings

· Furniture and Fittings

· Computers

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report : No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.14
UK Pound	1	Rs.95.78
Euro	1	Rs.71.05

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
-- PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.