MIRA INFORM REPORT

Report No. :	303592
Report Date :	17.01.2015

IDENTIFICATION DETAILS

Name :	PAREKH INTEGRATED SERVICES PRIVATE LIMITED (w.e.f. 06.10.2003)
Formerly known as :	BOMBAY ANKOOSH INDUSTRIES PRIVATE LIMITED
Registered Office :	C/o, Parekh Prints, 1^st Floor, IIT Bhatti, Italian Textile Compound, Goregaon (East), Mumbai - 400063, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	18.02.1992
Com. Reg. No.:	11-065482
Capital Investment / Paid-up Capital :	Rs.39.604 Millions
CIN No.: [Company Identification No.]	U51900MH1992PTC065482
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMP15203G
PAN No.: [Permanent Account No.]	AADCP1503F
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Warehousing Solutions.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 1000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. As per registrar of companies the date of balance sheet i.e. financials filed is shown as 31^st March, 2014 but the document related to the financials for the year 2014 are not available from any sources. As per available financial of 2013, financial of 2013, financial position of the company seem to be decent. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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	CRISIL Rating
Rating	Long Term Rating = BBB+
Rating Explanation	Have moderate degree of safety and carry moderate credit risk
Date	August 14, 2014

Rating Agency Name	CRISIL Rating
Rating	Short Term Rating = A2
Rating Explanation	Have strong degree of safety and carry low credit risk.
Date	August 14, 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.

INFORMATION DECLINED

Management non co-operative (91-22-61033700)

LOCATIONS

Registered Office :	C/o, Parekh Prints, 1^st Floor, IIT Bhatti, Italian Textile Compound, Goregaon (East), Mumbai - 400063, Maharashtra, India
Tel. No.:	91-22-24935087/ 40177100/ 40177101
Fax No.:	91-22-24953297/ 30042029/ 30042063/ 40177111 / 40177101
E-Mail :	usha.das@pispl.in
Website :	http://www.pispl.in http://www.parekhcorp.com
Admin./ Correspondence Office :	Near Shinrai Tovota Showroom, 35 Dr. E. Moses Road, Off Worli Naka, Worli, Mumbai – 400018, Maharashtra, India
Region Office :	Northern Region Okhla Industrial Area, C-40, Phase II, New Delhi- 110020, India Tel No.: 91-11-42904290/ 91 Fax No.: 91-11-42904207 Eastern Region 100A, Kabi Sukanta Sarani, Kolley Biscuits Complex, Kolkata-700085, West Bengal, India Tel No.: 91-33-66082101/ 66082102 Fax No.: 91-33- 66082114 Southern Region 117/ 3D and 3C, Padmavathi Gardens, Numbal, Velappanchavadi (P.O), Tiruverkadu, Chennai – 600077, Tamilnadu, India Tel No.: 91-44- 30442100/ 101 Fax No.: 91-44- 30442102 Western Region G-4, Rajalaxmi Commercial, Complex, Opposite Hanuman Bus Stop, Kalher, Thane – Bhiwandi Road, Thane – 421302, Maharashtra, India Tel No.: 91-2522-306165 Fax No.: 91-2522-306168

DIRECTORS

As on 18.08.2014

Name :

Mr. Vikram Himatlal Parekh

Designation :

Director

Address :

1/A, Cosmopolis.21, L.D Ruparel Marg, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

10.10.1949

Date of Appointment :

21.02.1992

DIN No.:

00419452

PAN No.:

AABPP5094L

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	U65990MH1962PTC012356	FISALCON PRIVATE LIMITED	Director	25/02/1984	25/02/1984	-	Active	NO
2	U37100MH1984PTC034250	UNI RECYCLERS PRIVATE LIMITED	Director	11/10/1984	11/10/1984	01/12/2013	Active	NO
3	U70101MH1962PTC012323	SHYAM ESTATES PRIVATE LIMITED	Director	30/09/1991	30/09/1991	-	Active	NO
4	U51900MH1992PTC065482	PAREKH INTEGRATED SERVICES PRIVATE LIMITED	Director	21/02/1992	21/02/1992	-	Active	NO
5	U51900MH1993PTC075218	ELIAN TRADING COMPANY PRIVATE LIMITED	Director	01/12/1993	01/12/1993	14/04/2007	Active	NO
6	U51900MH1995PTC084964	MULTI-LINE BUSINESS SOLUTIONS PRIVATE LIMITED	Director	25/01/1995	25/01/1995	-	Active	NO
7	U24239MH1999NPL122621	ALL INDIA PHARMACEUTICAL DISTRIBUTORS AND CLEARING AND FORWARDING AGENTS ORGANIS	Director	11/11/1999	11/11/1999	-	Strike off	NO
8	U24231DL1984PLC226859	NIPA CHEMICALS LIMITED	Director	01/02/2002	01/02/2002	31/01/2011	Amalgamated	NO
9	U24230MH1986PLC040602	KOPRAN LABORATORIES LIMITED	Director	21/07/2005	21/07/2005	20/12/2011	Active	NO
10	U51900MH1993PTC075434	PAREKH MERCANTILE PRIVATE LIMITED	Director	12/04/2006	12/04/2006	-	Active	NO
11	U63013DL2003PTC120241	CAREX CARGO FORWARDERS PRIVATE LIMITED.	Director	01/04/2007	01/04/2007	19/02/2010	Active	NO
12	U70100MH2005PLC153538	DHARAMTAR INFRASTRUCTURE LIMITED	Director	30/09/2009	05/01/2009	-	Active	NO
13	U65999MH2006PTC158616	SHINRAI INSURANCE BROKING SERVICES PRIVATE LIMITED	Director	28/07/2010	22/06/2010	-	Active	NO
14	U63030TN2010PLC077122	SUNDARAM PAREKH WAREHOUSING SERVICES LIMITED	Director	30/05/2011	14/10/2010	26/11/2013	Active	NO
15	U63040MH2011PTC224294	I P INTEGRATED SERVICES PRIVATE LIMITED	Director	23/11/2011	23/11/2011	-	Active	NO
16	U73100MH2005PTC153327	KASIAK RESEARCH PRIVATE LIMITED CN	Director	29/09/2014	18/11/2013	-	Active	NO
17	AAA-0648	PAREKH WAREHOUSING LLP	Designated Partner	27/01/2010	27/01/2010	-	Active	NO

Name :

Mr. Mukesh Mahendra Kumar Maniar

Designation :

Director

Address :

Flat No. 801, 8^th Floor, Mohan Villa, C-Wing, Next to Amrat Baug, Bajaj Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

20.06.1961

Date of Appointment :

01.03.2005

DIN No.:

00419712

PAN No.:

AACPM2110M

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	U51900MH1982PTC027365	MORGANITE TRADING CO PRIVATE LIMITED	Director	19/08/2014	26/11/1992	-	Active	NO
2	U51900MH1993PTC075434	PAREKH MERCANTILE PRIVATE LIMITED	Director	20/04/1994	20/04/1994	-	Active	NO
3	U51900MH1993PTC075218	ELIAN TRADING COMPANY PRIVATE LIMITED	Director	15/07/1994	15/07/1994	02/11/2010	Active	NO
4	U51900MH1995PTC084964	MULTI-LINE BUSINESS SOLUTIONS PRIVATE LIMITED	Director	25/01/1995	25/01/1995	-	Active	NO
5	U74900MH1986PTC041039	SHREE NIRMAL MAINTENANCE AND LOGISTICS PRIVATE LIMITED	Director	01/03/2005	01/03/2005	-	Active	NO
6	U51900MH1992PTC065482	PAREKH INTEGRATED SERVICES PRIVATE LIMITED	Director	01/03/2005	01/03/2005	-	Active	NO
7	U63013DL2003PTC120241	CAREX CARGO FORWARDERS PRIVATE LIMITED.	Director	01/04/2007	01/04/2007	19/02/2010	Active	NO
8	U65999MH2006PTC158616	SHINRAI INSURANCE BROKING SERVICES PRIVATE LIMITED	Director	28/07/2010	22/06/2010	-	Active	NO
9	U63030TN2010PLC077122	SUNDARAM PAREKH WAREHOUSING SERVICES LIMITED	Director	30/05/2011	14/10/2010	26/11/2013	Active	NO
10	U65990MH1962PTC012356	FISALCON PRIVATE LIMITED	Director	20/08/2011	05/04/2011	-	Active	NO
11	U63040MH2011PTC224294	I P INTEGRATED SERVICES PRIVATE LIMITED	Director	23/11/2011	23/11/2011	-	Active	NO
12	AAA-0648	PAREKH WAREHOUSING LLP	Designated Partner	27/01/2010	27/01/2010	-	Active	NO

Name :

Mr. Sandeep Aggarwal

Designation :

Director

Address :

Flat No. 05, 33 Floor, Tower B, Imperial Heights, Goregaon Malad Link Road, Goregaon (West), Mumbai – 400062, Maharashtra, India

Date of Birth/Age :

23.03.1963

Date of Appointment :

29.09.2010

DIN No.:

01543751

PAN No.:

AAWPA9295P

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	U63013DL2003PTC120241	CAREX CARGO FORWARDERS PRIVATE LIMITED.	Director	01/04/2007	01/04/2007	19/02/2010	Active	NO
2	U51900MH1992PTC065482	PAREKH INTEGRATED SERVICES PRIVATE LIMITED	Director	29/09/2010	15/05/2010	-	Active	NO
3	U63040MH2011PTC224294	I P INTEGRATED SERVICES PRIVATE LIMITED	Director	21/09/2012	18/01/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Nimish Vikram Parekh
Designation :	Manager
Address :	A Cosmopolis, 21 LD, Ruparel Marg, Mumbai – 400006, Maharashtra, India
Date of Birth/Age :	05.07.1983
Date of Appointment :	01.10.2011
Pan No.:	AIRPP5936D

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 18.08.2014

SHAREHOLDING DETAILS FILE ATTACHED

As on 18.08.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	99.98
Directors or relatives of Directors	0.01
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Providing Warehousing Solutions.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Divulged

Bankers :

Banker Name	Not Divulged
Branch Address	Not Divulged
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

· Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India

· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

· ABN Amro Bank N. V. 71/72, 7th Floor, Sakhar Bhavan, Nariman Point, Mumbai - 400021, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
Short-term borrowings
Working capital loans from banks	108.762	29.958
Total	108.762	29.958

Auditors :
Name :	S.K. Loonker and Company Chartered Accountants
Address :	11/13, Botawala Building, 2^nd Floor, Room No.5, Horniman Circle, Fort, Mumbai – 400 023, Maharashtra, India
Tel. No.:	91-22-2573313
PAN No.:	AACPL3732H
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	· Uni Recyclers Private Limited
Subsidiary Company:	· I P Integrated Services Private Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Morganite Trading Co Private Limited

CAPITAL STRUCTURE

As on 18.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
400000	Equity Shares	Rs.100/- each	Rs. 40.000 Millions
5000	Preference Shares	Rs. 100/- each	Rs. 0.500 Million
	Total		Rs. 40.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
396042	Equity Shares	Rs.100/- Each	Rs.39.604 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	39.604	39.604	39.604
(b) Reserves & Surplus	327.610	280.816	220.525
(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)	367.214	320.420	260.129
(3) Non-Current Liabilities
(a) long-term borrowings	731.468	652.616	528.131
(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)	731.468	652.616	528.131
(4) Current Liabilities
(a) Short term borrowings	108.762	29.958	34.505
(b) Trade payables	5012.625	3391.402	1884.315
(c) Other current liabilities	169.331	118.258	162.375
(d) Short-term provisions	32.502	32.492	32.529
Total Current Liabilities (4)	5323.220	3572.110	2113.724
TOTAL	6421.902	4545.146	2901.984
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	177.009	159.503	122.077
(ii) Intangible Assets	5.096	7.828	22.160
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	199.109	89.989	85.582
(c) Deferred tax assets (net)	4.263	1.479	0.246
(d) Long-term Loan and Advances	218.087	263.330	215.155
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	603.564	522.129	445.220
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	158.780	62.104	55.445
(c) Trade receivables	5165.516	3528.088	2038.669
(d) Cash and cash equivalents	325.251	211.322	267.223
(e) Short-term loans and advances	168.791	221.503	95.427
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	5818.338	4023.017	2456.764
TOTAL	6421.902	4545.146	2901.984

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1884.201	1463.019	1175.221
		Other Income
		TOTAL	1884.201	1463.019	1175.221
Less	EXPENSES TOTAL		1774.518	1339.507	1057.190
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		109.683	123.512	118.031
Less/ Add	DEPRECIATION/ AMORTISATION		39.969	35.534	27.555
	PROFIT BEFORE TAX		69.714	87.978	90.476
Less	TAX		22.920	27.687	21.704
	PROFIT AFTER TAX		46.794	60.291	68.772
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		280.324	220.033	151.261
	BALANCE CARRIED TO THE B/S		327.118	280.324	220.033
	Earnings Per Share (Rs.)		118.15	152.23	173.65

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	1.12	1.98	3.21
Return on Investment (ROI) (PBT/Networth)		0.19	0.27	0.35
Debt Equity Ratio (Total Debt /Networth)		2.29	2.13	2.16
Current Ratio (Current Asset/Current Liability)		1.09	1.13	1.16

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	39.604	39.604	39.604
Reserves & Surplus	220.525	280.816	327.610
Net worth	260.129	320.420	367.214
long-term borrowings	528.131	652.616	731.468
Short term borrowings	34.505	29.958	108.762
Total borrowings	562.636	682.574	840.230
Debt/Equity ratio	2.163	2.130	2.288

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	1175.221	1463.019	1884.201
		24.489	28.789

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	1175.221	1463.019	1884.201
Profit	68.772	60.291	46.794
	5.85%	4.12%	2.48%

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

Note:

Registered office of the company has been shifted from 1^st Floor, Udyog Bhavan, 29, Walchand Hirachand Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India to the Present Address w.e.f. 06.12.2010

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2013	As on 31.03.2012
Long-term borrowings
Loans and advances from others	280.635	303.421
Other loans and advances	450.833	349.195
Total	731.468	652.616

OPERATIONS

During the year the company has shown growth prospects in all sectors in which the company is dealing. The year has been the challenging one and inspite of competition from local and international Market the company has achieved turnover of 55763 MT. as against 57583 M.T. of Polymer Division in previous year. The income consist mainly of commission from Reliance India Limited

During the year, Company has registered good growth in the business of Soda Ash, Bauxite, micro silica, titanium Dioxide and contact lenses.

Company has also shown tremendous growth in C & F, and consignment sales agency of the multinational Cos by expanding its business activity in various parts of the country. During the year, The Company has achieved growth of 30% in sales of Alcon i. e. from Rs 5310.000 Millions during financial 2011-12 to Rs. 6880.000 Millions

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10469536	26/12/2013	100,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	B93274546
2	10367657	10/08/2012 *	471,500,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	B57112336
3	10086610	29/05/2009 *	296,500,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	A64116742

* Date of charge modification

FIXED ASSETS

· Plant and Machinery

· Office Equipment

· Electrical Installations

· Computers

· Furniture and Fixtures

· Motor Car

· Trucks

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.61.89
UK Pound	1	Rs.93.92
Euro	1	Rs.72.00

INFORMATION DETAILS

Information Gathered by :	PRA
Analysis Done by :	RAS
Report Prepared by :	KLS

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	6
--LEVERAGE	1~10	6
--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		52

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.