MIRA INFORM REPORT

Report No. :	304495
Report Date :	23.01.2015

IDENTIFICATION DETAILS

Name :	TORRENT PRIVATE LIMITED
Formerly Known As :	TORRENT INVESTMENTS PRIVATE LIMITED
Registered Office :	Torrent House, Off Ashram Road, Ahmedabad – 380009, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.01.1985
Com. Reg. No.:	04-007573
Capital Investment / Paid-up Capital :	Rs.6.368 Millions
CIN No.: [Company Identification No.]	U67120GJ1985PTC007573
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 into managing various investment profiles for torrent group.
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 24000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is an established company having good track record. The rating reflect company sound financial risk profile marked by healthy reveres position and fair profitability of the company. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitment. 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

LOCATIONS

Registered Office / Corporate Office :	Torrent House, Off Ashram Road, Ahmedabad – 380009, Gujarat, India
Tel. No.:	91-79-26585090/26583060
Fax No.:	91-79-26589581
E-Mail :	vvrmurthy@torrentlimited.com

DIRECTORS

As on 24.09.2014

Name :

Mr. Sudhir Uttamlal Mehta

Designation :

Director

Address :

Akalpya, Sarkhej Gandhinagar Highway, Ahmedabad – 380058, Gujarat, India

Date of Birth/Age :

10.04.1954

Date of Appointment :

17.01.1985

DIN No.:

00061871

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	L24230GJ1972PLC002126	TORRENT PHARMACEUTICALS LTD	Director	01-10-06	23-06-82	-	Active	NO
2	U67120GJ1985PTC007573	TORRENT PRIVATE LIMITED	Director	17-01-85	17-01-85	-	Active	NO
3	L31200GJ2004PLC044068	TORRENT POWER LIMITED	Managing director	12-05-14	29-04-04	-	Active	NO
4	L17119GJ1931PLC000093	ARVIND LIMITED	Director	27-10-05	27-10-05	30-07-14	Active	NO
5	U40104GJ2005PLC046660	TORRENT POWER GRID LIMITED	Director	05-08-06	05-08-06	14-08-08	Active	NO
6	U40108GJ2007PLC051822	TORRENT PIPAVAV GENERATION LIMITED	Director	25-09-07	25-09-07	-	Active	NO
7	U40102GJ2008PLC052898	TORRENT ENERGY LIMITED	Director	13-02-08	13-02-08	15-07-14	Active	NO
8	U45201GJ1997PTC031452	DIAMOND INFRASTRUCTURE PRIVATE LIMITED	Director	07-09-09	15-04-09	-	Active	NO

Name :

Mr. Samir Uttamlal Mehta

Designation :

Director

Address :

Akalpya, Sarkhej Gandhinagar Highway, Ahmedabad – 380058, Gujarat, India

Date of Birth/Age :

18.09.1963

Date of Appointment :

17.01.1985

DIN No.:

00061903

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	U67120GJ1985PTC007573	TORRENT PRIVATE LIMITED	Director	17-01-85	17-01-85	-	Active	NO
2	L24230GJ1972PLC002126	TORRENT PHARMACEUTICALS LTD	Managing director	30-07-14	20-08-86	-	Active	NO
3	L31200GJ2004PLC044068	TORRENT POWER LIMITED	Managing director	01-08-10	29-04-04	-	Active	NO
4	U40108GJ2007PLC051822	TORRENT PIPAVAV GENERATION LIMITED	Director	25-09-07	25-09-07	01-10-11	Active	NO
5	U40102GJ2008PLC052898	TORRENT ENERGY LIMITED	Director	30-07-10	13-02-08	15-07-14	Active	NO
6	U45201GJ1997PTC031452	DIAMOND INFRASTRUCTURE PRIVATE LIMITED	Director	07-09-09	15-04-09	-	Active	NO

Name :

Mr. Sudhir Shantilal Shah

Designation :

Director

Address :

A-701, Kaushambi, Near Mahalaxmi Cross Road, Ahmedabad – 380007, Gujarat, India

Date of Birth/Age :

19.09.1949

Date of Appointment :

20.08.2007

DIN No.:

00053595

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	U65922GJ1992PLC018275	GLFL HOUSING FINANCE LIMITED	Director	20-09-97	20-09-97	-	Active	NO
2	U40104GJ2005PLC046660	TORRENT POWER GRID LIMITED	Director	12-09-14	05-08-06	-	Active	NO
3	U67120GJ1985PTC007573	TORRENT PRIVATE LIMITED	Director	20-08-07	07-12-06	-	Active	NO
4	U40109GJ2005PTC046879	TORRENT POWER SERVICES PRIVATE LIMITED	Director	29-09-08	17-10-07	-	Active	NO
5	U40102GJ2008PLC055000	TORRENT SOLARGEN LIMITED	Director	09-09-08	09-09-08	31-03-14	Active	NO
6	U65923GJ2011PTC067401	TORRENT FINCORP PRIVATE LIMITED	Director	11-10-11	11-10-11	-	Active	NO
7	U40108GJ2007PLC051822	TORRENT PIPAVAV GENERATION LIMITED	Managing director	13-01-12	13-01-12	-	Active	NO
8	U45201GJ1988PLC010752	AEC CEMENTS AND CONSTRUCTIONS LIMITED	Director	28-09-12	19-03-12	-	Under liquidation	NO

Name :

Minaben Dineshchandra Modi

Designation :

Whole-time director

Address :

5, Spring Valley, Alishan Sarkhej Gandhinagar Hihgway, Ahmedabad – 380058, Gujarat, India

Date of Birth/Age :

21.05.1949

Date of Appointment :

30.08.2008

DIN No.:

01626903

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	U67120GJ1985PTC007573	TORRENT PRIVATE LIMITED	Whole-time director	30-08-08	22-08-07	-	Active	NO

Name :

Jinal Sudhirbhai Mehta

Designation :

Director

Address :

Akalpya, Sarkhej Gandhinagar Highway, Ahmedabad – 380058, Gujarat, India

Date of Birth/Age :

11.03.1983

Date of Appointment :

01.01.2010

DIN No.:

02685284

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	U67120GJ1985PTC007573	TORRENT PRIVATE LIMITED	Director	01-01-10	11-06-09	-	Active	NO
2	U40102GJ2008PLC052898	TORRENT ENERGY LIMITED	Director	31-03-14	01-08-11	-	Active	NO
3	L31200GJ2004PLC044068	TORRENT POWER LIMITED	Whole-time director	05-04-14	19-10-11	-	Active	NO
4	U40104GJ2005PLC046660	TORRENT POWER GRID LIMITED	Managing director	12-09-14	24-03-14	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2013

Names of Shareholders	No. of Shares	%age holding
Sudhir Uttamlal Mehta	152407	23.93
Samir Uttamlal Mehta	194729	30.58
Mehta Sudhir Anta	60000	9.42
Mehta Samir Sapna	60000	9.42
Mehta Uttamlal Sudhir (HUF)	42322	6.65
Mehta Sudhir Jinal	31840	5.00
Mehta Sudhir Varun	31840	5.00
Mehta Samir Aman	31840	5.00
Mehta Samir Shaan	31840	5.00
Total	636818	100.00

Equity Share Break up (Percentage of Total Equity)

As on 24.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged into managing various investment profiles for torrent group.
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
Maximum Limit Dealt :	Not Available
Experience :	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
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark:	Not Available

No. of Employees :

Not Available

Bankers :

Bank Name	Not Available
Branch	Not Available
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

Auditors :
Name :	C. C. Chokshi and Company Chartered Accountants
Address :	Heritage, 3rd Floor, Off Ashram Road, Ahmedabad – 380014, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	AACFC2938D
Memberships :	--
Collaborators :	--
Subsidiary companies / Enterprises controlled by subsidiary companies:	Torrent Power Limited Torrent Pharmaceutical Limited Torrent Cables Limited Torrent Power Services Private Limited Torrent Fincorp Private Limited Torrent Power Grid Private Limited Torrent Prpava Generation Limited Torrent Energy Limited AEC Cements and Construction Limited Torrent Pharma Inc Heumann Pharma GmbH and Company Generica KG Torrent Pharma Company Limited Zoa Torrent Pharma Torrent Pharma Inc Laboratories Torrent SA de CV Torrent Phamra GmbH Torretn Pharma SRL Torrent Pharma (UK) Limited Torrent Pharmaceuticals, Sikkim Torrent Pharmaceuticals, Dahej
Associates:	Gujrat Lese Financing Limited
Enterprises controlled by the company:	Torrent Private Limited Gratuity Trust TIPL Supermulation Fund
Enterprises controlled by key management personnel / relatives of key management personnel:	U N Mehta Charitable Trust Shrdaben Mehta Charitable Trust Dushyant Shah Charitable Trust Tsunami Tour and Travel Private Limited Torrent Cosmetic Private Limited Zeal Pharmachem India Private Limited Diamond Infrastructure Private Limited U N Mehta Institute of Cardiology and Research Centre

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1300000	Equity Shares	Rs.10/- each	Rs. 13.000 Millions
13970000	Preference Shares	Rs.10/- each	Rs. 1397.000 Millions
	Total		Rs. 1410.00 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
636818	Equity Shares	Rs.10/- each	Rs. 6.368 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	6.368	6.368	6.368
(b) Reserves & Surplus	8491.483	7979.625	7618.049
(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)	8497.851	7985.993	7624.417
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	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	10.003	29.864
Total Non-current Liabilities (3)	0.000	10.003	29.864
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.177	0.195	0.193
(c) Other current liabilities	120.862	1.487	127.300
(d) Short-term provisions	3.749	3.511	5.397
Total Current Liabilities (4)	124.788	5.193	132.890
TOTAL	8622.639	8001.189	7787.171
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	8.527	12.029	14.921
(ii) Intangible Assets	0.000	0.000	0.000
(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	4651.177	4672.481	4962.856
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	10.626	0.055	0.055
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	4670.330	4684.565	4977.832
(2) Current assets
(a) Current investments	2902.531	2757.458	2336.754
(b) Inventories	55.611	55.611	55.611
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	947.815	495.156	405.220
(e) Short-term loans and advances	46.352	8.399	11.754
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	3952.309	3316.624	2809.339
TOTAL	8622.639	8001.189	7787.171

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1800.063	1352.031	2827.235
	Other Income	0.275	1.480	8.600
	TOTAL (A)	1800.338	1353.511	2835.835
Less	EXPENSES
	Employees benefits expense	15.264	15.186	15.158
	Provision of diminution in value of investment	8.079	0.000	0.000
	Other Expenses	4.112	1.857	1.778
	TOTAL (B)	27.455	17.043	16.936
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	1772.883	1336.468	2818.899
Less	FINANCIAL EXPENSES (D)	0.203	3.135	48.454
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	1772.680	1333.333	2770.445
Less/ Add	DEPRECIATION/ AMORTISATION (F)	2.028	2.520	3.436
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	1770.652	1330.813	2767.009
Less	TAX (I)	19.000	14.010	6.600
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	1751.652	1316.803	2760.409
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	65.874	99.340	204.872
	APPROPRIATIONS
	Transfer to Special Reserve	350.731	263.361	552.082
	Interim Dividend	1241.795	955.227	2037.818
	Transfer to General Reserve	173.366	131.681	276.042
	Balance Carried to the B/S	51.634	65.874	99.340
	Earnings / (Loss) Per Share (Rs.)	2753.77	2067.79	4334.09

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	97.31	97.39	97.64
Operating Profit Margin (PBIDT/Sales)	(%)	98.49	98.85	99.71
Return on Total Assets (PBT/Total Assets}	(%)	44.58	39.98	97.97
Return on Investment (ROI) (PBT/Networth)		0.21	0.17	0.36
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		31.67	638.67	21.14

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	6.368	6.368	6.368
Reserves & Surplus	7618.049	7979.625	8491.483
Net worth	7624.417	7985.993	8497.851
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	2827.235	1352.031	1800.063
		-52.178	33.138

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	2827.235	1352.031	1800.063
Profit	2760.409	1316.803	1751.652
	97.64%	97.39%	97.31%

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	Yes
23]	Banking Details	No
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	No

LITIGATION DETAILS

HIGH COURT OF GUJARAT

TAX APPEAL No. 1143 of 2008

Status : PENDING

( Converted from : ST/2587/2008 )

CCIN No : 001092200801143

Last Listing Date:

26/03/2009

Coram

· HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN · HONOURABLE MR.JUSTICE AKIL KURESHI

S.NO.

Name of the Petitioner

Advocate On Record

1

COMMISSIONER OF INCOME TAX-IV

MR NITIN K MEHTA for: Appellant(s) 1

S.NO.

Name of the Respondant

Advocate On Record

1

TORRENT PRIVATE LIMITED

MRS SWATI SOPARKAR for :Opponent(s) 1

Presented On

: 25/07/2008

Registered On

: 25/07/2008

Bench Category

: DIVISION BENCH

District

: AHMEDABAD

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 198 times

StageName

: FOR FINAL HEARING - TAX MATTERS

Classification	DB - OJ - TAX APPEAL - INCOME TAX ACT, 1961 - APPEAL TO HIGH COURT - U/S 260 OF IT ACT - LONG TERM CAPITAL GAIN - U/S 54EA
Act	INCOME-TAX ACT, 1961

Office Details

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	15/08/2008	VAKALATNAMA	MRS SWATI SOPARKAR ADVOCATE for RESPONDENT(s) 1	-	MRS SWATI SOPARKAR:1
2	15/08/2008	VAKALATNAMA	MS PAURAMIB SHETH ADVOCATE for PETITIONER(s) 1	-	MS PAURAMI B SHETH:1
3	18/04/2009	VAKALATNAMA	MRS SWATI SOPARKAR ADVOCATE for RESPONDENT(s) 1	5	MRS SWATI SOPARKAR:1
4	09/05/2012	APPEARANCE NOTE	MS PAURAMIB SHETH ADVOCATE for PETITIONER(s) 1	-	MS PAURAMI B SHETH:1
5	29/01/2014	APPEARANCE NOTE	MR NITIN K MEHTA ADVOCATE for PETITIONER(s) 1	0	MR NITIN K MEHTA(3286) for P:1
Linked Matters

S. No.	CaseDetail	Status Name	Disposal Date	Action/Coram
1	TAX APPEAL/1144/2008	PENDING	-	- · HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN · HONOURABLE MR.JUSTICE AKIL KURESHI
Court Proceedings

S. No.	Notified Date	CourtCode	Board Sr. No.	Stage	Action	Coram
1	26/03/2009	1	-	FOR FINAL HEARING - TAX MATTERS	RULE/ADMIT	· HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN · HONOURABLE MR.JUSTICE AKIL KURESHI
Available Orders

S. No.	Case Details	Judge Name	Order Date	CAV	Judgement	Questions	Transferred
1	TAX APPEAL/1143/2008	· HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN · HONOURABLE MR.JUSTICE AKIL KURESHI	28/04/2009	N	ORDER	-	Y
Certified Copy

S. No.	ApplicantName	ApplicationType	Application Date	UOL Number	Order Date	Notify Date	Delivery Date	Status	Nature Of Document
1	MRS MAUNA M BHATT	ORDINARY	29/04/2009	O/13687-13688/2009	28/04/2009	07/05/2009	08/05/2009	Delivered

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	90374284	13/02/1987	6,900,000.00	BANK OF INDIA	AHMEDABAD BRANCH, BHADRA, AHMEDABAD, GUJARAT, IND IA	-
2	90374269	07/03/1986	4,400,000.00	BANK OF INDIA	AHMEDABAD BRANCH, BHADRA, AHMEDABAD, GUJARAT, IND IA	-
3	90378766	26/08/1980	100,000.00	PUNJAB NATIONAL BANK	COMMERCIAL STREET, BANGALORE, KARNATAKA, INDIA	-

FIXED ASSETS

• Land
• Building
• Office Equipment
• Electrical Installation
• 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.61.69
UK Pound	1	Rs.93.33
Euro	1	Rs.71.49

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	KVT

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	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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.