MIRA INFORM REPORT

Report No. :	330186
Report Date :	09.07.2015

IDENTIFICATION DETAILS

Name :	UNIVERSAL MINE DEVELOPERS AND SERVICE PROVIDERS PRIVATE LIMITED (w.e.f. 18.03.2010)

Formerly Known As :	SP RESEARCH LABORATORIES PRIVATE LIMITED

Registered Office :	70, Nagindas Master Road, Fort, Mumbai – 400023, Maharashtra
Tel. No.:	91-22-67490000

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	11.07.2008

Com. Reg. No.:	11-184554

Capital Investment / Paid-up Capital :	Rs. 40.710 Million

CIN No.: [Company Identification No.]	U10100MH2008PTC184554

TAN No.: [Tax Deduction & Collection Account No.]	MUMS60655A

PAN No.: [Permanent Account No.]	AAMCS1637G

Legal Form :	Private Limited Liability Company

Line of Business :	Trader or Business of Coal Mining.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a subsidiary of “Shapoorji Pallonji Infrastructure (Gujarat) Private Limited”. It was established in the year 2008. It has moderate track record. The company has not undertaken any operational activities and due to pre-operating expenses it has incurred losses which has ended to weak reserves position of the company. However, as per registrar of companies business appears to be active. Payments terms are unknown. The company can be considered for business dealings on fully safe and secure 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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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 31-03-2013.

INFORMATION DECLINED

MANAGEMENT NON CO-OPERATIVE (Tel. No.: 91-22-22871040/ 67490000)

LOCATIONS

Registered Office :	70, Nagindas Master Road, Fort, Mumbai – 400023, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	yashesh.bhatt@shapoorji.com secretarial.infra@shapoorji.com mahendra.wavale@shapoorji.com
Website :	www.shapoorji.in

Corporate Office :	SP Centre, 41/44, Minoo Desai Marg, Colaba, Mumbai – 400005, Maharashtra, India
Tel. No.:	91-22-67490000
Fax No.:	91-22-66338176

DIRECTORS

AS ON 09.09.2014

Name :

Mr. Subramania Iyer Kuppuswamy

Designation :

Director

Address :

52, Praneet 234, J. Palkar Road, Worli, Mumbai - 400025, Maharashtra, India

Date of Birth/Age :

17.09.1950

Date of Appointment :

11.07.2008

DIN No.:

00058836

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	U01119TG2001PTC037768	ALEXANDRIA KNOWLEDGE PARK PRIVATE LIMITED	Director	07-09-2001	07-09-2001	14-06-2010	Active	NO
2	U45200TG2006PTC049847	TRICHY TOLLWAY PRIVATE LIMITED	Director	13-04-2006	13-04-2006	21-06-2013	Active	NO
3	U25192MH1993PTC072591	S P FABRICATORS PRIVATE LIMITED	Director	24-04-2006	24-04-2006	-	Active	NO
4	U65990MH1997PTC108596	SHAPOORJI PALLONJI INFRASTRUCTURE CAPITAL COMPANY PRIVATE LIMITED	Director	28-03-2007	28-03-2007	-	Active	NO
5	U10100MH2008PTC184554	UNIVERSAL MINE DEVELOPERS AND SERVICE PROVIDERS PRIVATE LIMITED	Director	11-07-2008	11-07-2008	-	Active	NO
6	U45209GJ2008PTC054828	SHAPOORJI PALLONJI AND OEG SERVICES PRIVATE LIMITED	Director	21-08-2008	21-08-2008	08-11-2013	Active	NO
7	U10102DL1999PTC101776	MINES MANAGEMENT (INDIA) PRIVATE LIMITED	Director	30-09-2009	18-05-2009	-	Active	NO
8	U65920MH1994PLC077480	SHAPOORJI PALLONJI FINANCE LIMITED	Director	16-09-2009	29-06-2009	-	Active	NO
9	U29290MH1991PLC062425	FORBES TECHNOSYS LIMITED	Director	22-09-2010	04-09-2009	-	Active	NO
10	U45201MH1984PTC034108	SHAPOORJI PALLONJI PROJECTS PRIVATE LIMITED	Director	30-09-2014	15-07-2014	-	Active	NO
11	U70100MH2014PTC258322	BELVA FARMS PRIVATE LIMITED	Director	25-09-2014	25-09-2014	-	Active	NO

Name :

Mr. Suresh Dhawan

Designation :

Director

Address :

Badrinath Towers, Flat No. 1602, Seven Bunglows,, Andheri (West), Mumbai - 400061, Maharashtra, India

Date of Birth/Age :

01.01.1951

Date of Appointment :

11.07.2008

DIN No.:

01175807

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	U01119TG2001PTC037768	ALEXANDRIA KNOWLEDGE PARK PRIVATE LIMITED	Director	19-09-2002	19-09-2002	14-06-2010	Active	NO
2	U85110TG2004PTC043672	SANDOR LIFE SCIENCES PRIVATE LIMITED	Director	27-09-2007	22-02-2007	-	Active	NO
3	U01403MH2007PTC175890	SP AGRI MANAGEMENT SERVICES PRIVATE LIMITED	Director	30-09-2008	06-12-2007	01-11-2010	Active	NO
4	U31100MH1995PLC084278	SHAPOORJI PALLONJI POWER COMPANY LIMITED	Director	28-01-2008	28-01-2008	-	Active	NO
5	U67120MH1996PTC101707	SP BIO SCIENCES PRIVATE LIMITED	Director	30-09-2008	20-02-2008	-	Active	NO
6	U40109TN1995PTC033944	SAMALPATTI POWER COMPANY PRIVATE LIMITED	Managing director	04-06-2013	28-02-2008	-	Active	NO
7	U01112GJ2008PTC054062	SP BIOFUEL VENTURES PRIVATE LIMITED	Director	28-05-2008	28-05-2008	-	Active	NO
8	U26941GJ2008PTC054061	SHAPOORJI PALLONJI CEMENT (GUJARAT) PRIVATE LIMITED	Director	28-05-2008	28-05-2008	-	Active	NO
9	U40100GJ2008PTC054060	SHAPOORJI PALLONJI ENERGY (GUJARAT) PRIVATE LIMITED	Director	28-05-2008	28-05-2008	-	Active	NO
10	U74999UP2008PLC035469	BHARAT RENEWABLE ENERGY LIMITED	Director	12-07-2012	17-06-2008	12-05-2014	Active	NO
11	U10100MH2008PTC184554	UNIVERSAL MINE DEVELOPERS AND SERVICE PROVIDERS PRIVATE LIMITED	Director	11-07-2008	11-07-2008	-	Active	NO
12	U01403GJ2008PTC054483	NURSERY PROJECTS AND AGRI DEVELOPMENT PRIVATE LIMITED	Director	15-07-2008	15-07-2008	31-10-2012	Active	NO
13	U40100GJ2008PTC054923	SIMAR ENERGY (GUJARAT) PRIVATE LIMITED	Director	01-09-2008	01-09-2008	-	Amalgamated	NO
14	U35110GJ2008PTC054507	SIMAR PORT PRIVATE LIMITED	Director	29-09-2009	30-04-2009	03-10-2011	Active	NO
15	U40106MH2010PTC202600	SHAPOORJI PALLONJI SOLAR THERMAL PRIVATE LIMITED	Director	30-04-2010	30-04-2010	-	Amalgamated	NO
16	U40300MH2010PTC202812	SHAPOORJI PALLONJI SOLAR PV PRIVATE LIMITED	Director	06-05-2010	06-05-2010	-	Active	NO
17	U45400GJ2010PTC069101	SP PORTS PRIVATE LIMITED	Director	11-06-2010	11-06-2010	-	Active	NO
18	U40103TN2010PTC088516	SHAPOORJI PALLONJI POWER PROJECTS PRIVATE LIMITED	Director	24-09-2012	18-10-2011	-	Amalgamated	NO
19	U45203MH2010PTC202625	SHAPOORJI PALLONJI ROADS PRIVATE LIMITED	Director	27-09-2012	21-03-2012	-	Active	NO
20	U74900TN2011PTC083446	PRADDIN ENERGY PRIVATE LIMITED	Additional director	08-04-2015	08-04-2015	-	Active	NO

Name :

Mr. Rajesh Nandkumar Bathija

Designation :

Director

Address :

503, Shreyas Apartments, Poddar Road, Off S.V. Road, Santacruz (West), Mumbai - 400054, Maharashtra, India

Date of Birth/Age :

22.01.1968

Date of Appointment :

30.09.2013

DIN No.:

06687649

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	Company/ LLP Status	Defaulting status
1	U01403GJ2008PTC054483	NURSERY PROJECTS AND AGRI DEVELOPMENT PRIVATE LIMITED	Director	27-09-2013	13-09-2013	Active	NO
2	U40300MH2010PTC202812	SHAPOORJI PALLONJI SOLAR PV PRIVATE LIMITED	Director	30-09-2013	13-09-2013	Active	NO
3	U45201GJ2008PTC054063	SHAPOORJI PALLONJI INFRASTRUCTURE (GUJARAT) PRIVATE LIMITED	Director	27-09-2013	13-09-2013	Active	NO
4	U10100MH2008PTC184554	UNIVERSAL MINE DEVELOPERS AND SERVICE PROVIDERS PRIVATE LIMITED	Director	30-09-2013	13-09-2013	Active	NO
5	U45203MH2010PTC202625	SHAPOORJI PALLONJI ROADS PRIVATE LIMITED	Director	30-09-2013	13-09-2013	Active	NO
6	U74900TN2011PTC083446	PRADDIN ENERGY PRIVATE LIMITED	Director	21-08-2014	27-12-2013	Active	NO
7	U26941GJ2008PTC054061	SHAPOORJI PALLONJI CEMENT (GUJARAT) PRIVATE LIMITED	Director	31-07-2014	22-05-2014	Active	NO
8	U35117GJ2005PTC047168	LEADER SHIP YARD PRIVATE LIMITED	Additional director	23-07-2014	23-07-2014	Active	NO
9	U40103TN2013PTC093340	TN SOLAR POWER ENERGY PRIVATE LIMITED	Additional director	10-04-2015	10-04-2015	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 09.09.2014

Names of Shareholders	No. of Shares
Shapoorji Pallonji Infrastructure (Gujarat) Private Limited, India	4070994
Mahesh Tahilyani jointly with Shapoorji Pallonji Infrastructure (Gujarat) Private Limited, India	1
Mukundan Srinivasan jointly with Shapoorji Pallonji Infrastructure (Gujarat) Private Limited, India	1
Suresh Dhawan jointly with Shapoorji Pallonji Infrastructure (Gujarat) Private Limited, India	1
Shankar Krishnan Subramanian jointly with Shapoorji Pallonji Infrastructure (Gujarat) Private Limited, India	1
Vasant Sanzgiri jointly with Shapoorji Pallonji Infrastructure (Gujarat) Private Limited, India	1
F. B. Bhathena jointly with Shapoorji Pallonji Infrastructure (Gujarat) Private Limited, India	1
Total	4071000

AS ON 09.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader or Business of Coal Mining.

Brand Names :	--

Agencies Held :	--

Exports :	--

Imports :	--

Terms :	--

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

Banking Relations :	--

Auditors :
Name :	Harshad Doshi and Company Chartered Accountants
Address :	Cutch Castle, 3^rd Floor, 523, S.V.P Road, Opera House, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-23820094/ 23888012/ 24093083/ 66314019/ 23775381
Fax No.:	91-22-23883715
E-Mail:	harshil@dda.firm.in jrdoshi@hotmail.com
Income-tax PAN of auditor or auditor's firm :	AAGFH8346A

Memberships :	--

Collaborators :	--

Holding Company:	· Shapoorji Pallonji Infrastructure Capital Company Limited (Upto 30^th March, 2014) · Shapoorji Pallonji Infrastructure (Gujarat) Private Limited (w.e.f. 31^st March, 2014)

Ultimate Holding Company :	Shapoorji Pallonji and Company Limited

CAPITAL STRUCTURE

AS ON 09.09.2014

Authorised Capital : Rs. 750.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 40.710 Million

AS ON 09.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

5,000,000	Equity Shares	Rs.10/- each	Rs. 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

4,071,000	Equity Shares	Rs.10/- each	Rs. 40.710 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	40.710	40.710	40.710
(b) Reserves & Surplus	(40.730)	(52.384)	(35.645)
(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)	(0.020)	(11.674)	5.065

(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	0.725	0.753
Total Non-current Liabilities (3)	0.000	0.725	0.753

(4) Current Liabilities
(a) Short-term borrowings	0.000	20.050	12.200
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.020	6.239	3.428
(d) Short-term provisions	0.000	0.106	0.010
Total Current Liabilities (4)	0.020	26.395	15.638

TOTAL	0.000	15.446	21.456

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	15.370	21.076
(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	0.000	0.000	0.000
(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	0.000	15.370	21.076

(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	0.000	0.026	0.090
(e) Short-term loans and advances	0.000	0.050	0.290
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	0.000	0.076	0.380

TOTAL	0.000	15.446	21.456

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	0.000	0.000	0.000
		Other Income	0.000	0.119	0.000
		TOTAL (A)	0.000	0.119	0.000

Less	EXPENSES
		Employee Benefits Expenses	0.000	7.748	5.035
		Other Expenses	0.020	4.246	8.733
		TOTAL (B)	0.020	11.994	13.768

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.020)	(11.875)	(13.768)

Less	FINANCIAL EXPENSES (D)		0.000	2.107	0.860

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.020)	(13.982)	(14.628)

Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000	2.757	3.404

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(0.020)	(16.739)	(18.032)

Less	TAX (H)		0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(0.020)	(16.739)	(18.032)

	Earnings Per Share (Rs.)		0.00	(4.11)	(4.43)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA

Cash generated from/ (Used in) operations	(0.006)	3.119	3.540

Net Cash Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.00	0.00	0.00

Operating Profit Margin (PBDIT/Sales)	(%)	0.00	0.00	0.00

Return on Total Assets (PBT/Total Assets}	(%)	0.00	(108.37)	(84.04)

Return on Investment (ROI) (PBT/Networth)		1.00	1.43	(3.56)

Debt Equity Ratio (Total Liability/Networth)		0.00	(1.72)	2.41

Current Ratio (Current Asset/Current Liability)		0.00	0.00	0.02

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	40.710	40.710	40.710
Reserves & Surplus	(35.645)	(52.384)	(40.730)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	5.065	(11.674)	(0.020)

Long-term borrowings	0.000	0.000	0.000
Short term borrowings	12.200	20.050	0.000
CURRENT MATURITIES OF LONG-TERM DEBTS	0.000	0.000	0.000
Total borrowings	12.200	20.050	0.000
Debt/Equity ratio	2.409	(1.717)	0.000

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

PARTICULAR

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

Unsecured Loan from Body Corporate

(Unsecured loan from related parties are payable on demand)

0.000

20.050

Total

0.000

20.050

CORPORATE INFORMATION

Subject (Formerly known as SP Research Laboratories Private Limited) is an unlisted private limited company domiciled in India, incorporated under the Companies Act, 1956. The company is engaged to carry on in India and elsewhere the trader or business of coal mining including but not limited to underground mining, opencast mining, underground coal gasification including the management of coal mines, either independently or for and on behalf of or under the directions of any holding companies as custodian, receiver or in any other similar capacity and to mine, quarry, transform or beneficiate coal and manufacture coke and other by-products of coal including coal to liquid and or gas, purchase or otherwise acquire all minerals and other materials of every kind needed for or resulting from the mining, manufacturing production or processing of coal, coke and other by-products of every kind and, for this purpose, to install, operate and manage all necessary plants, mines, establishments and works.

FIXED ASSETS

· Office Equipment’s

· Plant and Machinery

· Computers

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. 63.57
UK Pound	1	Rs. 98.22
Euro	1	Rs. 69.93

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	TRI

Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		11

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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