MIRA INFORM REPORT

IRA INFORM REPORT

Report No. :	326792
Report Date :	11.06.2015

IDENTIFICATION DETAILS

Name :	N K PROTEINS PRIVATE LIMITED (w.e.f.12.05.2015)

Formerly Known As :	N K PROTEINS LIMITED (w.e.f 27.03.1992) MARUTI PROTEINS LIMITED

Registered Office :	7^th Floor, Popular House, Ashram Road, Ahmedabad - 380009, Gujarat
Tel. No.:	91-79-66309999

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	27.03.1992

Com. Reg. No.:	04-017403

Capital Investment / Paid-up Capital :	Rs. 64.695 Million

CIN No.: [Company Identification No.]	U25499GJ1992PTC017403

IEC No.:	0894002911

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

PAN No.: [Permanent Account No.]	AAACN9377N

Legal Form :	Private Limited Liability Company

Line of Business :	The company is engaged in the refining of all types of edible oils i.e. Cottonseed, Maize, Soyabean, Sunflower, Groundnut, Palm, Palmolein.

No. of Employees :	510 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Exists

Comments :	Subject was established in the year 1992. It is engaged in refining of all types of edible oils i.e., cottonseed, corn, soyabean, Groundnut, Maize, Plam, Plamolien and Sunflower. It is an established company having satisfactory track record. There seems dip in the turnover of the company. Profitability of the company also seems to be low during 2014. However, General financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered 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.

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.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Vinod Patel
Designation :	Accounts Executive
Contact No.:	91-79-66309999
Date :	10.06.2015

LOCATIONS

Registered / Corporate Office :	7^th Floor, Popular House, Ashram Road, Ahmedabad - 380009, Gujarat, India
Tel. No.:	91-79-66309999
Fax No.:	91-79-66309913/ 66309907
E-Mail :	nkil@nkproteins.com nkpl@icenet.net
Website :	http://www.nkproteins.com
Area :	2200 Sq. Ft.
Location :	Rented

Factory :	Plot No. 880, Kadi-Thor Road, Symphony Factory Thor, Kadi, Mehsana, Gujarat, India
Tel. No.:	91-2764-274247 to 249
E-Mail :	info@nkproteins.com
Location :	Owned

DIRECTORS

As on 30.09.2014

Name :	Mr. Nimishbhai Keshavlal Patel
Designation :	Chairman and Managing Director
Address :	41, Ashwamegh Bunglow, Scheme No. 3, Satellite, Ahmedabad-3800015, Gujarat, India
Date of Birth/Age :	19.11.1960
Qualification :	Graduation
Experience :	19 Years
Date of Appointment :	11.01.1996
DIN No.:	00240621

Name :	Mr. Nilesh Keshavlal Patel
Designation :	Managing Director
Address :	13/B, Dariapur Patel Society, Usmanpura, Ahmedabad-380013, Gujarat, India
Date of Birth/Age :	23.03.1965
Qualification :	Graduation
Date of Appointment :	15.05.1995
DIN No.:	00244115

Name :	Mr. Kamlesh Lalbhai Patel
Designation :	Whole Time Director
Address :	6, Devansh Bunglows, Thaltej, Ahmedabad-380054, Gujarat, India
Date of Birth/Age :	01.05.1960
Qualification :	B.E.
Date of Appointment :	01.03.1994
DIN No.:	00244798

Name :	Mr. Jayesh Pannalal Choksi
Designation :	Director
Address :	Siddhi Priya JV and D Scheme, Vile Parle (West), Mumbai-400056, Maharashtra, India
Date of Birth/Age :	29.03.1954
Qualification :	B. Sc
Date of Appointment :	16.06.2001
DIN No.:	00001729

Name :	Mr. Bharat Jayantilal Patel
Designation :	Director
Address :	30/31, Ashwavilla Bunglow, Nr. Sindhu Bhavan, Thaltej, Ahmedabad-380059, Gujarat, India
Date of Birth/Age :	07.08.1955
Date of Appointment :	01.04.2014
DIN No.:	00944269

Name :	Mr. Ramakant Chetram Chaturvedi
Designation :	Director
Address :	60,Rajpath Bunglows, Nigam Road, Ghodasar, Ahmedabad-380050, Gujarat, India
Date of Birth/Age :	07.12.1964
Date of Appointment :	01.04.2014
DIN No.:	02110174

KEY EXECUTIVES

Name :	Mr. Vinod Patel
Designation :	Accounts Executive

Name :	Mr. Manish Purushottamdas Kella
Designation :	Secretary / General Manager Finance
Address :	6, Aditya Apartment, 20 Jaihind Society, Ranbaug, Maninagar, Ahmedabad – 380008, Gujarat, India
Date of Birth/Age :	17.09.1971
Date of Appointment :	01.03.2010
PAN No.:	ADPPK8989E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Sonalben N Patel Jointly with Ashitaben N Patel	3503085
Ashitaben N Patel	238655
Sonalben N Patel	230365
Priyanshi N. Patel	138250
Venushri N. Patel	137770
Vedanshri N. Patel	136720
Priyam N. Patel	136010
Nimishbhai K. Patel	134550
Nileshbhai K. Patel	134550
Jayesh P. Choksi	1167375
Pranav J. Choksi	150000
Gomtiben K. Patel	13000
Kamlesh L. Patel	10100
Gomtiben K. Patel	5000
Gomtiben K. Patel	5000
Anant B. Patel	3500
Rekhaben A. Patel	3500
Lalbhai S. Patel	2400
Truptiben K. Patel	1750
Jashmatiben K. Patel	900
Vaishnavi D. Patel	220
Rajvi M. Todi	100
Darshanbhai B. Patel	100
Baldevbhai R. Patel	100
Zircon Finance and Leasing Private Limited, India	150000
Gufic Limited, India	150000
Bennett Coleman Company Limited, India	2
Nimish K. Patel HUF	8250
Nilesh K. Patel HUF	8250
TOTAL	6469502

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	4.64
Directors or relatives of Directors	74.29
Other top fifty shareholders	21.07
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in the refining of all types of edible oils i.e. Cottonseed, Maize, Soyabean, Sunflower, Groundnut, Palm, Palmolein.

Products :

Item Code No.	Product Description
15122910	Other Cotton Seed Oil of Edible Grade

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Cottonseed
Corn
Soyabean
Groundnut
Nazie
Plam
Palmoilen

Countries :

Europe
US
China
Korea
Malaysia

Imports :

Products :

Raw Material

Countries :

Indonesia
Malaysia
Brazil
Spain
Italy

Terms :

Selling :

Cash / Credit

Purchasing :

Cash / Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

No. of Employees :

510 (Approximately)

Bankers :

Bank Name	Central Bank of India
Branch	HLCC Area Branch, Near Vijay Char Rasta ,Navrangpura, Ahmedabad-380009, Gujarat, India
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 :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from others	0.000	36.895
Other loans and advances	41.152	11.998
Short-term borrowings
Working capital loans from banks	0.000	702.195
Loans taken for fixed assets	0.000	191.543

Total	41.152	942.631


Banking Relations :	--

Auditors :
Name :	Parikh and Majumdar Chartered Accountants
Address :	B-303,GCP, Business, Centre, Opposite Memnagar Fire Station , Navrangpura, Ahmedabad-380009, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAPPM5037Q

Memberships :	--

Collaborators :	--

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Adrenal Advertising And Promotions Private Limited Gufic Biosciences Limited N K Industries Limited N K Roadways Private Limited N. K. Corporation N K Corporation DBP Tirupati Proteins Private Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

10,000,000	Equity Shares	Rs.10/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

6,469,502	Equity Shares	Rs.10/- each	Rs.64.695 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	64.695	64.695	64.695
(b) Reserves & Surplus	836.922	781.885	854.878
(c) Money received against share warrants	20.000	20.000	20.000

(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	921.617	866.580	939.573

(3) Non-Current Liabilities
(a) long-term borrowings	51.152	200.725	169.684
(b) Deferred tax liabilities (Net)	23.534	0.000	0.000
(c) Other long term liabilities	40.386	40.387	3.749
(d) long-term provisions	52.557	60.957	58.372
Total Non-current Liabilities (3)	167.629	302.069	231.805

(4) Current Liabilities
(a) Short term borrowings	0.192	901.251	1115.006
(b) Trade payables	2423.773	2479.629	3014.629
(c) Other current liabilities	134.607	255.244	293.078
(d) Short-term provisions	18.993	10.338	27.439
Total Current Liabilities (4)	2577.565	3646.462	4450.152

TOTAL	3666.811	4815.111	5621.530

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1108.664	1077.021	691.106
(ii) Intangible Assets	42.788	0.444	0.848
(iii) Capital work-in-progress	5.311	240.510	133.933
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	19.683	19.683	8.538
(c) Deferred tax assets (net)	0.000	19.365	(23.231)
(d) Long-term Loan and Advances	63.157	113.469	160.137
(e) Other Non-current assets	6.498	9.727	59.705
Total Non-Current Assets	1246.101	1480.219	1031.036

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	935.519	1904.702	1739.069
(c) Trade receivables	244.077	528.078	332.344
(d) Cash and cash equivalents	100.866	694.311	2081.532
(e) Short-term loans and advances	1140.195	192.964	394.616
(f) Other current assets	0.053	14.837	42.933
Total Current Assets	2420.710	3334.892	4590.494

TOTAL	3666.811	4815.111	5621.530

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	23825.416	28583.395	25075.606
		Other Income	66.663	117.095	103.893
		TOTAL (A)	23892.079	28700.490	25179.499

Less	EXPENSES
		Cost of Materials Consumed	20243.105	24718.615	18738.983
		Purchases of Stock-in-Trade	2184.541	2708.928	5120.334
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	147.415	(75.741)	(83.969)
		Employees benefits expense	132.547	144.887	106.345
		Other expenses	846.115	1214.934	965.149
		TOTAL (B)	23553.723	28711.623	24846.842

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		338.356	(11.133)	332.657

Less	FINANCIAL EXPENSES (D)		123.500	52.242	40.876

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		214.856	(63.375)	291.781

Less/ Add	DEPRECIATION/ AMORTISATION (F)		107.235	55.993	63.218

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		107.621	(119.368)	228.563

Less	TAX (H)		52.583	(46.375)	76.494

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		55.038	(72.993)	152.069

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		619.248	692.241	540.172

	BALANCE CARRIED TO THE B/S		674.286	619.248	692.241

	Earnings Per Share (Rs.)
	Basic		8.51	(11.28)	23.51
	Diluted		8.51	(11.26)	23.46

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

17.113

20.716

28.322

Cash generated from operations

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.23	(0.26)	0.61

Operating Profit Margin (PBIDT/Sales)	(%)	1.42	(0.04)	1.33

Return on Total Assets (PBT/Total Assets}	(%)	2.96	(2.63)	4.15

Return on Investment (ROI) (PBT/Networth)		0.12	(0.14)	0.24

Debt Equity Ratio (Total Debt /Networth)		0.07	1.30	1.40

Current Ratio (Current Asset/Current Liability)		0.94	0.91	1.03

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	64.695	64.695	64.695
Reserves & Surplus	854.878	781.885	836.922
Money received against share warrants	20.000	20.000	20.000
Net worth	939.573	866.580	921.617

long-term borrowings	169.684	200.725	51.152
Short term borrowings	1115.006	901.251	0.192
Current maturities of long-term debts	28.322	20.716	17.113
Total borrowings	1313.012	1122.692	68.457
Debt/Equity ratio	1.397	1.296	0.074

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)
Revenue from operations	25075.606	28583.395	23825.416
		13.989	(16.646)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from operations	25075.606	28583.395	23825.416
Profit	152.069	(72.993)	55.038
	0.61%	(0.26%)	0.23%

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	Yes
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	Yes
12	Voter Id Card No. of Proprietor / Partners	Yes
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
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	No
32	Litigations that the firm/promoter involved in	Yes
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

HIGH COURT OF GUJARAT

CRIMINAL APPEAL No. 1317 of 2011

Status : PENDING

CCIN No : 001043201101317

Last Listing Date:

08.12.2011

Coram

HONOURABLE MR. JUSTICE BANKIM N. MEHTA

S.NO.	Name of the Petitioner	Advocate On Record
1	AHMEDABAD MUNICIPAL CORPORATION	MS JIRGA D JHAVERI for: Appellant (s) - 1

S.NO.	Name of the Respondant	Advocate On Record
1	KANAIYALAL SATYANARAYAN SHAH (DECEASED THEREFORE ABETTED)	PUBLIC PROSECUTOR for :Opponent(s)/Respondent(s) 5
2	MOTI ENTERPRISE	RULE SERVED for :Opponent(s)/Respondent(s) 2 - 3
3	N K PROTEINS LIMITED	MR DK MODI for :Opponent(s)/Respondent(s) 2 - 4
4	N K PROTEINS LIMITED	MR MD MODI for :Opponent(s)/Respondent(s) 2 - 4
5	STATE OF GUJARAT

Presented On	: 11/10/2011	Registered On	: 11/10/2011
Bench Category	: SINGLE BENCH	District	: AHMEDABAD
Case Originated From	: THROUGH ADVOCATE	Listed	: 2 times
Stage Name	: ADJOURNED MATTERS
Classification	SJ - APPEAL - AGAINST ACQUITTAL - INDIAN PENAL CODE, 1860 - PREVENTION OF FOOD ADULTERATION ACT, 1954 - BY ORIGINAL COMPLAINANT

Act

PREVENTION OF FOOD ADULTERATION ACT, 1954

LOWER COURT DETAILS

Sr. No.	Lower Court Case Detail	Lower Court Name	Judgment Date
1	CRIMINAL CONFIRMATION CASE/7124/2006	METROPOLITAN MAGISTRATE, ATE AHMEDABAD	29.05.2010

OFFICE DETAILS

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document
1	11.10.2011	MEMO OF APPEAL / PETITION / SUIT	MRS JIRGA D JHAVERI ADVOCATE for PETITIONER(s) 1	20
2	22.12.2011	VAKALATNAMA	MR D K MODI ADVOCATE for PETITIONER(s) 4	5
3	22.12.2011	VAKALATNAMA	MR D K MODI ADVOCATE for PETITIONER(s) 4	5
4	22.12.2011	JOINT VAKALATNAMA	MR M D MODI ADVOCATE for RESPONDENT(s) 2	-
5	28.12.2011	VAKALATNAMA	MR D K MODI ADVOCATE for PETITIONER(s) 4	5
6	28.12.2011	VAKALATNAMA	MR D K MODI ADVOCATE for PETITIONER(s) 4	5
7	28.12.2011	JOINT VAKALATNAMA	MR M D MODI ADVOCATE for RESPONDENT(s) 2	--

COURT PROCEEDINGS

S. No.

Notified Date

Court Code

Board Sr. No.

Stage

Action

Coram

22.11.2011

ADJOURNED MATTERS

NEXT DATE

HONOURABLE MR.JUSTICE BANKIM.N.MEHTA

08.12.2011

ADJOURNED MATTERS

RULE/ADMIT

HONOURABLE MR.JUSTICE BANKIM.N.MEHTA

AVAILABLE ORDERS

S. No.	Case Details	Judge Name	Order Date	CAV	Judgement
1	CRIMINAL APPEAL/1317/2011	HONOURABLE MR.JUSTICE BANKIM.N.MEHTA	08.12.2011	N	N

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Other loans and advances	10.000	151.832

Short-term borrowings
Deposits	0.192	7.513

Total	10.192	159.345

OPERATIONS

During the year, revenue from operation is decreased to Rs. 23825.416 Million compared to Rs. 28583.395 Million during 2012-13 showing a decrease of 16.65 % over the previous year. The Company has incurred profit of Rs. 55.038 Million compared to Rs. (72.994) Million loss of previous year.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10334335	27/01/2012	31,100,000.00	Edelweiss Housing Finance Limited	Edelweiss House, Off. C.S.T Road,, Kalina,, Mumbai, Maharashtra - 400098, INDIA	B31593999
2	10319388	30/09/2011	10,649,120.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, Maharashtra - 400013, INDIA	B25923657

FIXED ASSETS

Freehold Land
Factory Building
Office Building
Plant and Machinery
Windmill
Electric Installations
Furniture and Fixtures
Office Equipments
Computers
Factory Equipments
Vehicles
Telephone Installations
Computer Software

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 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.63.88
UK Pound	1	Rs.98.47
Euro	1	Rs.72.14

INFORMATION DETAILS

Information Gathered by :	RKH

Analysis Done by :	RSM

Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.

IRA INFORM REPORT

OFFICE DETAILS

COURT PROCEEDINGS

AVAILABLE ORDERS

INDEX OF CHARGES

Unit