MIRA INFORM REPORT

Report No. :	324703
Report Date :	03.06.2015

IDENTIFICATION DETAILS

Name :	SGS TEKNIKS MANUFACTURING PRIVATE LIMITED

Registered Office :	A-3, Infocity, Sector – 34, Gurgaon – 122001, Haryana
Tel. No.:	91-124-4628800

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	27.04.2011

Com. Reg. No.:	05-044475

Capital Investment / Paid-up Capital :	Rs. 17.128 Million

CIN No.: [Company Identification No.]	U31501HR2011PTC044475

IEC No.:	Not Available

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

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by adequate liquidity position and sound profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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 – 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

Rating Agency Name	ICRA
Rating	Term loan = BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	March 2015

Rating Agency Name	ICRA
Rating	Fund Based Limits = A2+
Rating Explanation	Strong degree of safety and low credit risk.
Date	March 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) DEFAILTERS’ 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 DENIED BY

Name :	Mr. Manmohan
Designation :	Finance Head
Contact No.:	91-124-4628800
Date :	28.05.2015

LOCATIONS

Registered Office :	A-3, Infocity, Sector – 34, Gurgaon – 122001, Haryana, India
Tel. No.:	91-124-4628800
Fax No.:	Not Available
E-Mail :	manmohan@sgst.com

DIRECTORS

AS ON 26.09.2014

Name :

Jasbir Singh Gujral

Designation :

Director

Address :

K-165, South City – 1, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

09.08.1955

Date of Appointment :

27.04.2011

DIN No.:

00198825

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	U74899DL1986PTC024356	SGS TEKNIKS PRIVATE LIMITED	Director	20/04/1990	20/04/1990	-	Amalgamated	NO
2	U74899HR1994PTC044487	SGS HOLDINGS AND LEASING PRIVATE LIMITED	Director	27/09/1994	27/09/1994	-	Amalgamated	NO
3	U74899HR1995PTC044488	SGS INFOTECH PRIVATE LIMITED	Director	20/06/1995	20/06/1995	-	Amalgamated	NO
4	U70101HR2000PTC053342	HAMP PROPERTIES PRIVATE LIMITED	Director	08/05/2000	08/05/2000	-	Active	NO
5	U31104DL1996PTC082106	ELTEK SGS PRIVATE LIMITED	Director	24/09/2003	24/09/2003	26/12/2011	Active	NO
6	U72200HR2006PTC044489	SGS Tekniks Manufacturing Private Limited	Director	02/03/2006	02/03/2006	-	Amalgamated	NO
7	U28931DL2006PTC150600	ELTEK SGS MECHANICS PRIVATE LIMITED.	Director	06/07/2006	06/07/2006	-	Active	NO
8	U40109DL2003PTC209036	VALERE POWER INDIA PRIVATE LIMITED	Director	25/06/2007	25/06/2007	05/01/2012	Amalgamated	NO
9	U31907DL2011PTC216806	SGS MANUFACTURING & TRADING PRIVATE LIMITED	Director	30/03/2011	30/03/2011	-	Active	NO
10	U31501HR2011PTC044475	SGS TEKNIKS MANUFACTURING PRIVATE LIMITED	Director	27/04/2011	27/04/2011	-	Active	NO
11	U74900HR2012PTC052142	SGS INFOSYSTEMS PRIVATE LIMITED	Director	20/12/2013	22/01/2013	-	Active	NO

Name :

Ranjit Singh Lonial

Designation :

Director

Address :

D1/25, Rajouri Garden, New Delhi – 110027, India

Date of Birth/Age :

09.08.1957

Date of Appointment :

27.04.2011

PAN No.:

00198890

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	U74899DL1986PTC024356	SGS TEKNIKS PRIVATE LIMITED	Director	26/09/1991	26/09/1991	-	Amalgamated	NO
2	U74899HR1994PTC044487	SGS HOLDINGS AND LEASING PRIVATE LIMITED	Director	27/09/1994	27/09/1994	-	Amalgamated	NO
3	U74899HR1995PTC044488	SGS INFOTECH PRIVATE LIMITED	Director	20/06/1995	20/06/1995	-	Amalgamated	NO
4	U70101HR2000PTC053342	HAMP PROPERTIES PRIVATE LIMITED	Director	08/05/2000	08/05/2000	-	Active	NO
5	U45201HR2003PTC053343	RANJIT KRISHNA PROPERTIES PRIVATE LIMITED	Director	03/11/2003	03/11/2003	-	Active	NO
6	U28931DL2006PTC150600	ELTEK SGS MECHANICS PRIVATE LIMITED.	Director	06/07/2006	06/07/2006	-	Active	NO
7	U72200HR2006PTC044489	SGS Tekniks Manufacturing Private Limited	Director	01/08/2006	01/08/2006	-	Amalgamated	NO
8	U72900DL2006PTC151788	HARANGAD SOLUTIONS PRIVATE LIMITED.	Director	08/08/2006	08/08/2006	-	Active	NO
9	U31501HR2011PTC044475	SGS TEKNIKS MANUFACTURING PRIVATE LIMITED	Director	27/04/2011	27/04/2011	-	Active	NO
10	U74900HR2012PTC052142	SGS INFOSYSTEMS PRIVATE LIMITED	Director	20/12/2013	22/01/2013	-	Active	NO

Name :

Sanjiv Narayan

Designation :

Director

Address :

F-225 A, Sainik Farm, New Delhi – 110062, India

Date of Birth/Age :

12.04.1951

Date of Appointment :

27.04.2011

DIN No.:

00198864

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	U74899HR1994PTC044487	SGS HOLDINGS AND LEASING PRIVATE LIMITED	Director	27/09/1994	27/09/1994	-	Amalgamated	NO
2	U74899HR1995PTC044488	SGS INFOTECH PRIVATE LIMITED	Director	20/06/1995	20/06/1995	-	Amalgamated	NO
3	U72200HR2006PTC044489	SGS Tekniks Manufacturing Private Limited	Director	01/08/2006	01/08/2006	-	Amalgamated	NO
4	U74899DL1986PTC024356	SGS TEKNIKS PRIVATE LIMITED	Managing director	05/12/2006	05/12/2006	-	Amalgamated	NO
5	U93030DL2010PTC199633	Prisha Culture and Education Private Limited	Director	02/03/2010	02/03/2010	-	Strike off	NO
6	U74900DL2011PTC216717	ROCKWOOD HOSPITALITY ASSOCIATES PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Strike off	NO
7	U31501HR2011PTC044475	SGS TEKNIKS MANUFACTURING PRIVATE LIMITED	Director	27/04/2011	27/04/2011	-	Active	NO
8	U74140DL2011PTC222878	ENTREPRENEURING INDIA VENTURE SERVICES PRIVATE LIMITED	Director	27/07/2011	27/07/2011	-	Active	NO
9	U74900HR2012PTC052142	SGS INFOSYSTEMS PRIVATE LIMITED	Director	20/12/2013	22/01/2013	-	Active	NO

Voter ID No.:

Name :

Krishna Kumar Pant

Designation :

Director

Address :

J2/36, DLF City – 11, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

26.09.1958

Date of Appointment :

27.04.2011

DIN No.:

00198916

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	U74899DL1986PTC024356	SGS TEKNIKS PRIVATE LIMITED	Director	26/09/1991	26/09/1991	-	Amalgamated	NO
2	U74899HR1994PTC044487	SGS HOLDINGS AND LEASING PRIVATE LIMITED	Director	27/09/1994	27/09/1994	-	Amalgamated	NO
3	U74899HR1995PTC044488	SGS INFOTECH PRIVATE LIMITED	Director	20/06/1995	20/06/1995	-	Amalgamated	NO
4	U31104DL1996PTC082106	ELTEK SGS PRIVATE LIMITED	Director	27/09/1996	27/09/1996	29/03/2014	Active	NO
5	U70101HR2000PTC053342	HAMP PROPERTIES PRIVATE LIMITED	Director	08/05/2000	08/05/2000	-	Active	NO
6	U45201HR2003PTC053343	RANJIT KRISHNA PROPERTIES PRIVATE LIMITED	Director	03/11/2003	03/11/2003	-	Active	NO
7	U72200HR2006PTC044489	SGS Tekniks Manufacturing Private Limited	Director	01/08/2006	01/08/2006	-	Amalgamated	NO
8	U40109DL2003PTC209036	VALERE POWER INDIA PRIVATE LIMITED	Director	25/06/2007	25/06/2007	-	Amalgamated	NO
9	U31907DL2011PTC216806	SGS MANUFACTURING & TRADING PRIVATE LIMITED	Director	30/03/2011	30/03/2011	-	Active	NO
10	U31501HR2011PTC044475	SGS TEKNIKS MANUFACTURING PRIVATE LIMITED	Director	27/04/2011	27/04/2011	-	Active	NO
11	U74900HR2012PTC052142	SGS INFOSYSTEMS PRIVATE LIMITED	Director	20/12/2013	22/01/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2014

Names of Equity Shareholders		No. of Shares
Sanjiv Narayan		401775
Ranjit Singh		401774
K K Pant		401773
J S Gujral		401775
Sushma Narayan		1422
Bhawanjit Kaur		1422
Usha Pant		1422
Sukhbir Kaur		1422

Total		1612785

Names of Preference hareholders		No. of Shares
Sanjiv Narayan		24972
Ranjit Singh		24974
K K Pant		24974
J S Gujral		24972
Sushma Narayan		27
Bhawanjit Kaur		27
Usha Pant		27
Sukhbir Kaur		27

Total		100000

Equity Share Break up (Percentage of Total Equity)

AS ON 26.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Products :	Not Divulged

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

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 :

Not Divulged

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 :

Information declined by the management

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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee term loan from banks	120.375	0.000
Other loans and advances	1.778	3.184
SHORT TERM BORROWING
Loans repayable on demand from banks	90.291	143.833

Total	212.444	147.017

Auditors :
Name :	J.C. Bhalla and Company Chartered Accountant
Address :	B-17, Maharani Bagh, New Delhi – 110065, India
PAN No.:	AAAFJ3258M

Memberships :	--

Collaborators :	--

Subsidiaries :	SGS Solutions GMBH SGS Infosystems Private Limited Suprina Associates

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Hamp Properties Private Limited Ranjit Krishna Properties Private Limited

CAPITAL STRUCTURE

AS ON 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

3010000	Equity Shares	Rs.10/- each	Rs. 30.100 Million
100000	Preference Shares	Rs. 10/- each	Rs. 1.000 Million
	Total		Rs. 31.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

1612785	Equity Shares	Rs.10/- each	Rs. 16.128 Million
100000	Preference Shares	Rs. 10/- each	Rs. 1.000 Million
	Total		Rs. 17.128 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	17.128	17.128	17.128
(b) Reserves & Surplus	2048.522	1974.896	1910.209
(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)	2065.650	1992.024	1927.337

(3) Non-Current Liabilities
(a) long-term borrowings	122.153	5.634	5.999
(b) Deferred tax liabilities (Net)	28.998	19.872	14.791
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	6.673	4.930	3.632
Total Non-current Liabilities (3)	157.824	30.436	24.422

(4) Current Liabilities
(a) Short term borrowings	90.291	143.833	128.004
(b) Trade payables	219.404	238.385	183.442
(c) Other current liabilities	75.002	41.515	36.129
(d) Short-term provisions	0.744	10.178	4.482
Total Current Liabilities (4)	385.441	433.911	352.057

TOTAL	2608.915	2456.371	2303.816

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	250.950	258.309	267.807
(ii) Intangible Assets	1069.100	1059.871	1053.530
(iii) Capital work-in-progress	49.699	10.270	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	175.697	175.697	100.014
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	112.286	78.218	28.563
(e) Other Non-current assets	21.295	19.949	17.841
Total Non-Current Assets	1679.027	1602.314	1467.755

(2) Current assets
(a) Current investments	188.437	183.102	235.786
(b) Inventories	195.498	173.898	137.129
(c) Trade receivables	394.035	352.208	347.415
(d) Cash and cash equivalents	23.063	28.237	21.114
(e) Short-term loans and advances	102.929	83.733	63.425
(f) Other current assets	25.926	32.879	31.192
Total Current Assets	929.888	854.057	836.061

TOTAL	2608.915	2456.371	2303.816

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	1723.324	1465.211	815.347
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA

	EXPENSES
		TOTAL	NA	NA	NA

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		144.850	117.082	72.442

Less/ Add	DEPRECIATION/ AMORTISATION		28.121	26.107	12.548

	PROFIT BEFORE TAX		116.729	90.975	59.894

Less	TAX		33.513	16.270	7.015

	PROFIT AFTER TAX		83.216	74.705	52.879

	Earnings Per Share (Rs.)		47.58	43.61	30.87

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

Cash generated from operations

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	4.83	5.10	6.49

Return on Total Assets (PBT/Total Assets}	(%)	4.90	4.01	2.72

Return on Investment (ROI) (PBT/Networth)		0.06	0.05	0.03

Debt Equity Ratio (Total Debt /Networth)		0.10	0.08	0.07

Current Ratio (Current Asset/Current Liability)		2.41	1.97	2.37

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	17.128	17.128	17.128
Reserves & Surplus	1910.209	1974.896	2048.522
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1927.337	1992.024	2065.650

long-term borrowings	5.999	5.634	122.153
Short term borrowings	128.004	143.833	90.291
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	134.003	149.467	212.444
Debt/Equity ratio	0.070	0.075	0.103

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	815.347	1465.211	1723.324
		79.704	17.616

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	815.347	1465.211	1723.324
Profit	52.879	74.705	83.216
	6.49%	5.10%	4.83%

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	Yes
8	Designation of contact person	Yes
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	Yes
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	Yes
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

NOTE: Registered office of the company has been shifted from F-225A, Lane W-5B, Sainik Farms, New Delhi – 110062, India to the present address w.e.f. 01.12.2011.

UNSECURED LOAN

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans and advances from others	0.000	2.450
Total	0.000	2.450

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10484871	20/03/2014	80,000,000.00	Citibank N.A	DLF Square, M Block, Jacaranda Marg, DLF City Phase II, Gurgaon, Haryana - 122002, INDIA	C00504266
2	10469012	06/12/2013	429,083.00	DIRECTOR OF INDUSTRIES	SINGLE WINDOW CLEARING AGENCY, BAROTIWALA ROAD, BADDI, Himachal Pradesh - 173205, INDIA	B93047710
3	10447563	29/08/2013	70,000,000.00	Citibank N.A	DLF Square, M Block, Jacaranda Marg, DLF City Phase II, Gurgaon, Haryana - 122002, INDIA	B84288364
4	10184055	14/10/2009	180,600.00	DY. DIRECTOR OF INDUSTRIES	SINGLE WINDOW CLEARANCE AGENCY, Department of Industries-Baddi Baroliwala-Nalagarh, SOLAN, Himachal Pradesh - 173205, INDIA	A72555980
5	10113350	23/07/2008	20,000,000.00	Citibank N.A.	Jeevan Vihar, 3 Sansad Marg, New Delhi, Delhi - 110001, INDIA	A41943747
6	10072242	25/09/2007	45,000,000.00	Citibank NA	Jeevan Vihar, 3 Sansad Marg, New Delhi, Delhi - 110001, INDIA	A25027681
7	10072497	20/03/2014 *	230,000,000.00	Citibank N.A	DLF Square, M Block Jacaranda Marg, DLF City Phase II, Gurgaon, Haryana - 122002, INDIA	C00506766
8	90040133	08/06/2005	45,000,000.00	CITI BANK N A	JEEVAN VIHAR, 3 SANSAD MARG, NEW DELHI, Delhi - 110001, INDIA	-
9	90037787	08/06/2005 *	38,000,000.00	CITI BANK N A	JEEVAN VIHAR, 3 SANSAD MARG, NEW DELHI, Delhi - 110001, INDIA	-
10	90034747	12/07/1998	1,200,000.00	INDIAN BANK	DDA MARKET, SHANTI NIKETAN, NEW DELHI, Delhi, INDIA	-

* Date of charge modification

FIXED ASSETS

Land
Buildings
Plant and Equipments
Factory Equipments
Furniture and Fixture
Vehicles
Office Equipments

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. 63.83
UK Pound	1	Rs. 97.10
Euro	1	Rs. 69.74

INFORMATION DETAILS

Information Gathered by :	PPT

Analysis Done by :	KAR

Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
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	6
--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		54

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	--

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