MIRA INFORM REPORT

Report No. :	307713
Report Date :	20.02.2015

IDENTIFICATION DETAILS

Name :	GROWEL PROCESSORS PRIVATE LIMITED

Registered Office :	Sy. No. 64-67, Chengicharla Village Road Hyderabad – 500039, Telangana

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	26.08.2010

Com. Reg. No.:	36-070174

Capital Investment / Paid-up Capital :	Rs. 72.214 Millions

CIN No.: [Company Identification No.]	U05004TG2010PTC070174

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAECG5139M

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and processing of all kinds of fish, shrimp, sea and freshwater mammals, crustaceans.

No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Yet to commence its business operation

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Even though the company was incorporated on 26^th August 2010, it is yet to commence its business operations. As claimed by Mr. Prabhakar, Manager that construction activities of the subject company is ongoing and it will start it commercial operations from April 2015. As per latest financial of 2014, the company has incurred huge pre operating expenses. As per status in the registered of companies business appears to be active. Payments are reported to be unknown. The company can be considering for business dealing 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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	CARE
Rating	Long Term Bank Facilities = BB+
Rating Explanation	Inadequate-credit-quality and high credit risk
Date	Jan 02, 2015

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 :	Sy. No. 64-67, Chengicharla Village Road, Hyderabad – 500039, Telnagana, India
Tel. No.:	91-40-27201344
Fax No.:	91-40-27202625
E-Mail :	growelprocessors@gmail.com

DIRECTORS

AS ON 27.09.2014

Name :

Ravella Satish

Designation :

Director

Address :

D. No. 33-12-10 Boyapati Vari Street, Suryaraopet Vijayawada – 520002, Andhra Pradesh, India

Date of Birth/Age :

29.10.1967

Date of Appointment :

29.09.2012

DIN No. :

00237557

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	U34103AP2005PTC047814	SUBHALAKSHMI MOTORS PRIVATE LIMITED	Director	18/10/2005	18/10/2005	01/12/2008	Active	NO
2	U85195AP1986PTC006665	SUSHMITHA MEDICAL CENTRE PVT. LTD.	Director	10/05/2006	10/05/2006	-	Active	NO
3	U01119AP2008PTC059008	INDIAN NATURALS & GRANULES PRIVATE LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO
4	U50100AP2009PTC062728	ARUNA MOTORS PRIVATE LIMITED	Director	05/02/2009	05/02/2009	-	Active	NO
5	U01119TG2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	20/02/2009	20/02/2009	-	Active	NO
6	U05004TG2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Director	29/09/2012	09/05/2012	-	Active	NO
7	U74900AP2014PTC095077	ARUNA TRUCKS PRIVATE LIMITED	Director	14/08/2014	14/08/2014	-	Active	NO

Name :

Mr. Sriranga Chary Mudumbi

Designation :

Director

Address :

B – 42, Afochs, 2^nd AvenueRoad, Sanikpuri, Secunderabad – 500094 Telangana, India

Date of Birth/Age :

13.03.1935

Date of Appointment :

26.08.2010

DIN No. :

00863502

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	U24239TG1993PTC015700	GROWEL FORMULATIONS PRIVATE LIMITED	Managing director	11/10/1993	11/10/1993	-	Active	NO
2	U01119AP2005PTC047841	ARESEN BIO-TECH AND FARMS (INDIA) PRIVATE LIMITED	Director	20/10/2005	20/10/2005	21/07/2008	Active	NO
3	U01119TG2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	07/01/2008	07/01/2008	-	Active	NO
4	U05004TG2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
5	U05000AP2014PTC095791	GROWEL LIFE SCIENCES PRIVATE LIMITED	Director	08/12/2014	08/12/2014	-	Active	NO

Name :

Mr. Vedadri Narasimha Sesha Chary Madumbi

Designation :

Director

Address :

B – 42, Afochs, 2^nd AvenueRoad, Sanikpuri, Secunderabad – 500094 Telangana, India

Date of Birth/Age :

03.08.1959

Date of Appointment :

26.08.2010

DIN No. :

00863606

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	U24239TG1993PTC015700	GROWEL FORMULATIONS PRIVATE LIMITED	Whole-time director	28/12/2001	28/12/2001	-	Active	NO
2	U01119AP2005PTC047841	ARESEN BIO-TECH AND FARMS (INDIA) PRIVATE LIMITED	Director	20/10/2005	20/10/2005	21/07/2008	Active	NO
3	U01119TG2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	07/01/2008	07/01/2008	-	Active	NO
4	U05004TG2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
5	U01400AP2010PTC070276	GROWING VENTURES PRIVATE LIMITED	Director	02/09/2010	02/09/2010	-	Active	NO
6	U05000AP2014PTC095791	GROWEL LIFE SCIENCES PRIVATE LIMITED	Director	08/12/2014	08/12/2014	-	Active	NO

Name :

Chintapalli Sudheer

Designation :

Director

Address :

Door No. 10/154-D4-5A, Shanti Nagar, Gudivada – 521301, Andhra Pradesh, India

Date of Birth/Age :

08.08.1969

Date of Appointment :

26.08.2010

DIN No. :

01480150

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	U70102AP2006PTC048811	SUBHALAKSHMI PROJECTS PRIVATE LIMITED	Director	18/01/2006	18/01/2006	-	Active	NO
2	U85195AP1986PTC006665	SUSHMITHA MEDICAL CENTRE PVT. LTD.	Director	29/09/2007	30/04/2007	-	Active	NO
3	U01119TG2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	20/03/2008	20/03/2008	-	Active	NO
4	U01119AP2008PTC059008	INDIAN NATURALS & GRANULES PRIVATE LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO
5	U05004TG2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
6	U01400AP2010PTC070276	GROWING VENTURES PRIVATE LIMITED	Director	02/09/2010	02/09/2010	-	Active	NO
7	U05000AP2014PTC095791	GROWEL LIFE SCIENCES PRIVATE LIMITED	Director	08/12/2014	08/12/2014	-	Active	NO

Name :

Mr. Srinivasanarendra Potluri

Designation :

Director

Address :

D. No.10/164-H14, Rajendranagar, Gudivada – 521301, Andhra Pradesh, India

Date of Birth/Age :

24.05.1969

Date of Appointment :

26.08.2010

DIN No. :

01948012

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	U01119AP2005PTC047841	ARESEN BIO-TECH AND FARMS (INDIA) PRIVATE LIMITED	Director	20/10/2005	20/10/2005	13/02/2012	Active	NO
2	U01119TG2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	07/01/2008	07/01/2008	-	Active	NO
3	U01119AP2008PTC059008	INDIAN NATURALS & GRANULES PRIVATE LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO
4	U05004TG2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
5	U01400AP2010PTC070276	GROWING VENTURES PRIVATE LIMITED	Director	02/09/2010	02/09/2010	-	Active	NO
6	U05000AP2014PTC095791	GROWEL LIFE SCIENCES PRIVATE LIMITED	Director	08/12/2014	08/12/2014	-	Active	NO

Name :

Mr. Janardhan polavarapu

Designation :

Director

Address :

54-20/8-10c, K.D.G.O. Colony, Patamata, Vijayawada – 520008, Andhra Pradesh, India

Date of Birth/Age :

30.08.1961

Date of Appointment :

29.09.2012

DIN No. :

01954125

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	U74140AP1994PTC018836	DRUCKER VENTURES PRIVATE LIMITED	Director	30/12/2001	30/12/2001	-	Active	NO
2	U01119TG2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	20/03/2008	20/03/2008	-	Active	NO
3	U01119AP2005PTC047841	ARESEN BIO-TECH AND FARMS (INDIA) PRIVATE LIMITED	Director	18/07/2008	18/07/2008	13/02/2012	Active	NO
4	U05004TG2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Director	29/09/2012	09/05/2012	-	Active	NO

Name :

Mr. Srinivas Potluri

Designation :

Director

Address :

H. No.11/171, Beside TTD Kalyana Mandapam, Station Road, Kaikaluru, Krishna District, Kaikaluru – 521333, Andhra Pradesh, India

Date of Birth/Age :

17.07.1975

Date of Appointment :

29.09.2012

DIN No. :

02116273

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	U01119TG2008PTC057027	GROWEL FEEDS PRIVATE LIMITED	Director	20/03/2008	20/03/2008	-	Active	NO
2	U05004TG2010PTC070174	GROWEL PROCESSORS PRIVATE LIMITED	Director	29/09/2012	09/05/2012	-	Active	NO

MAJOR SHAREHOLDERS

As on 27.09.2014

Names of Shareholders		Percentage of Holding
Growel Feeds Private Limited		1541000
M V N Sesha Chary		148000
P S Narendra		811000
Ch Sudheer		518500
Growel Formulation Private Limited		1010000
Potluri Srinivas		841250
Polavarapu Janardhan		481250
Revella Sateesh		175000
Potluri Surekha		237000
Chintapali Sudha Devi		191250
B Vijaya Lakshmi		1701250
Potluri Pujitha		443750
Potluri Tirupatamma		105000
Indian Naturals and Granuels Private Limited		702100
Ravella Hyma		66875
Ravella Pratap		66875
M Vijaya Lakshmi		143750
Polavarapu Sri Devi		41250
Ravella Hema Sudha		41250
Potluri Jaganmohan Rao		465000
Total		9731350

As on 27.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	33.43
Directors or relatives of Directors	66.57
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and processing of all kinds of fish, shrimp, sea and freshwater mammals, crustaceans.

Products :	Not Available

Brand Names :	Not Available

Agencies Held :	Not Available

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

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	State Bank of India
Branch Address	Industrial Finance Branch, Rajbhavan Road, Somajiguda, Hyderabad – 500082, Telangana, 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
Rupee term loans from banks	94.594	0.000
Other Loans and advances	103.166	0.000
Total	197.760	0.000


Auditors :	Praturi and Sriram
Name :	Chartered Accountants
Address :	202, Saptagiri Residency, 1-10-98/A, Chikoti Gardens, Bengumpet, Hyderabad – 500016, Telangana, India
PAN No.:	AACFP2644M

Memberships :	Not Available

Collaborators :	Not Available

Associate :	Growel Formulations Private Limited

CAPITAL STRUCTURE

As on 27.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

15000000	Equity Shares	Rs.10/- each	Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

7221350	Equity Shares	Rs.10/- each	Rs. 72.214 Millions

After as on 27.09.2014

Authorised Capital : Rs. 150.000 Millions

Issued, Subscribed & Paid-up Capital : 103.314 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	72.214	0.100	0.100
(b) Reserves & Surplus	70.751	(0.426)	(0.441)
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	58.946	18.673
Total Shareholders’ Funds (1) + (2)	142.965	58.620	18.332

(3) Non-Current Liabilities
(a) long-term borrowings	199.992	24.094	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	199.992	24.094	0.000

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.039
(c) Other current liabilities	19.288	0.000	0.146
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	19.288	0.000	0.185

TOTAL	362.245	82.714	18.517

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	274.917	79.416	1.270
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	63.726	0.797	0.000
(e) Other Non-current assets	16.894	2.150	15.567
Total Non-Current Assets	355.537	82.363	16.837

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	4.732	0.287	0.065
(e) Short-term loans and advances	1.976	0.064	1.615
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	6.708	0.351	1.680

TOTAL	362.245	82.714	18.517

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012

	TOTAL INCOME (A)	0.000	10.168	0.000

Less	TOTAL EXPENSES (B)	0.936	10.594	0.000

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	(0.936)	(0.426)	0.000

Less	FINANCIAL EXPENSES (D)	0.000	0.000	0.000

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(0.936)	(0.426)	0.000

Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.000	0.000	0.000

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(0.936)	(0.426)	0.000

Less	TAX (H)	0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(0.936)	(0.426)	0.000

	Equity Share Capital	72.214	0.100	0.100

	Reserve and Surplus	70.751	(0.426)	(0.441)

	Earnings / (Loss) Per Share (Rs.)	0.00	0.00	0.00

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PARTICULARS
Return on Total Assets (PBT/Total Assets}	(%)	(1.07)	(12.92)	0.00

Return on Investment (ROI) (PBT/Networth)		(0.01)	(0.01)	0.00

Debt Equity Ratio (Total Debt /Networth)		1.40	0.41	0.00

Current Ratio (Current Asset/Current Liability)		0.35	NA	9.08

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	0.100	0.100	72.214
Reserves & Surplus	(0.441)	(0.426)	70.751
Share Application money pending allotment	18.673	58.946	0.000
Net worth	18.332	58.620	142.965

long-term borrowings	0.000	24.094	199.992
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	24.094	199.992
Debt/Equity ratio	0.000	0.411	1.399

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)
Sales	0.000	10.168	0.000
			(100.000)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	0.000	10.168	0.000
Profit	0.000	(0.426)	(0.936)
		(4.19%)

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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

OPERATING RESULTS AND REVIEW OF PERFORMANCE

The Company has yet to commence commercial production. In the current financial year preliminary expenses incurred for increase in authorized share capital has resulted in a non operating loss of 0.936 Million as compared to a similar loss of 0.426 Million for the year 2012-2013.

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10438104	23/12/2014 *	458,700,000.00	State Bank of India	Industrial finance Branch, 1st Floor, Novbharat Chambers, Raj Bhavan Road, Somajiguda, Hyderabad, Telangana - 500082, INDIA	C40755001

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Other Loans and advances others	2.232	24.094
Total	2.232	24.094

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. 62.25
UK Pound	1	Rs. 95.57
Euro	1	Rs. 71.01

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	4
--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		26

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.

MIRA INFORM REPORT

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