MIRA INFORM REPORT

Report No. :	326980
Report Date :	13.06.2015

IDENTIFICATION DETAILS

Name :	EASTERN FOODS PRIVATE LIMITED
Registered Office :	Plot No. 2273, New Industrial Estate, Jagatpur, Cuttack – 754021, Orissa
Tel. No.:	91-671-2491605
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	12.11.2003
Com. Reg. No.:	15-007383
Capital Investment / Paid-up Capital :	Rs. 89.988 Million
CIN No.: [Company Identification No.]	U15312OR2003PTC007383
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	BBNE00182A
PAN No.: [Permanent Account No.]	AABCE3445M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of food products.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 980000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporate during the year 2003. The company undertakes production of refined wheat flour, whole wheat flour, semolina and bran in its wheat division; and raw and parboiled rice in the rice division. It has a satisfactory track record. For the financial year ended 2014, the company has a decline in profit during the year under a review. However, the rating reflects company’s sound financial risk profile backed by adequate net worth and good trade receivables. Trade relations are reported as fair. Payments terms are slow but correct. In view of aforesaid, 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Bank Facilities BB+
Rating Explanation	Moderate risk of default
Date	June 05, 2014

Rating Agency Name	CRISIL
Rating	Short Term Bank Facilities A4+
Rating Explanation	Minimal degree of safety and carry very high risk.
Date	June 05, 2014

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Laxman Rao
Designation :	Accounts Executive
Contact No.:	91-671-2491605
Date :	12.06.2015

LOCATIONS

Registered Office/ Factory :	Plot No. 2273, New Industrial Estate, Jagatpur, Cuttack – 754021, Orissa
Tel. No.:	91-671-2491605
Fax No.:	91-671-2491795
E-Mail :	subhrajeet@hotmail.com info@favo.co.in
Website :	http://www.easternfoods.co.in

DIRECTORS

As on 30.09.2014

Name :

Mr. Subhrajeet Sahoo

Designation :

Managing Director

Address :

Arunodaya Nagar, Cuttack – 753 012, Orissa, India

Date of Birth/Age :

01.01.1982

Date of Appointment :

01.01.2010

DIN No.:

00861911

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	U51909WB1993PTC061205	CHANDRAPRABHU VYAPAAR PVT LTD	Director	22/12/1993	22/12/1993	29/03/2013	Active	NO
2	U51109WB1995PTC070299	NIRMOHI STEEL PVT LTD	Director	29/03/1995	29/03/1995	29/03/2013	Active	NO
3	U15311OR1984PTC001409	EASTERN ROLLER FLOUR MILLS PVT LTD	Director	01/07/2000	01/07/2000	-	Amalgamated	NO
4	U27102OR2003PLC007354	YAZDANI STEEL & POWER LIMITED	Director	29/10/2003	29/10/2003	30/09/2011	Active	NO
5	U15312OR2003PTC007383	EASTERN FOODS PRIVATE LIMITED	Managing director	01/01/2010	12/11/2003	-	Active	NO
6	U15331OR1991PTC002746	MEGHA PAPERS PVT LTD	Director	20/05/2004	20/05/2004	-	Active	NO
7	U45202OR1993PLC003328	RAJLAXMI CONSTRUCTION LIMITED	Whole-time director	01/04/2009	01/04/2009	01/02/2012	Active	NO
8	U74140OR2011PTC014207	SPS LEXOLUTIONS PRIVATE LIMITED	Director	15/09/2011	15/09/2011	-	Under Process of Striking off	NO
9	U15400OR2011PTC014276	EASTERN GOURMET PRIVATE LIMITED	Director	27/09/2011	27/09/2011	-	Active	NO
10	U15400OR2013PTC016962	EASTERNZONE INDUSTRIES PRIVATE LIMITED	Director	07/06/2013	07/06/2013	-	Active	NO

Name :

Mr. Surendra Nath Sahoo

Designation :

Director

Address :

Arunodaya Nagar, Arunodaya

Date of Birth/Age :

08.03.1948

Date of Appointment :

12.11.2003

DIN No.:

00688547

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	U15311OR1984PTC001409	EASTERN ROLLER FLOUR MILLS PVT LTD	Director	06/09/1984	06/09/1984	-	Amalgamated	NO
2	U74999OR1988PTC002047	EASTERN FREEZE PRIVATE LIMITED	Director	18/07/1988	18/07/1988	-	Active	NO
3	U15331OR1991PTC002746	MEGHA PAPERS PVT LTD	Director	18/02/1991	18/02/1991	-	Active	NO
4	U45203OR1992PTC003140	BABA LOKANATH MINING AND ENGINEERS PRIVATE LIMITED	Director	08/09/1992	08/09/1992	-	Active	NO
5	U05001OR1993PTC003329	EASTERN MARINES PVT. LTD.	Director	17/05/1993	17/05/1993	-	Active	NO
6	U45202OR1993PLC003328	RAJLAXMI CONSTRUCTION LIMITED	Managing director	01/04/2009	17/05/1993	-	Active	NO
7	U51109WB1995PTC070299	NIRMOHI STEEL PVT LTD	Director	29/03/1995	29/03/1995	25/02/2006	Active	NO
8	U15412OR1996PTC004443	EASTERN CONFECTIONERY PRIVATE LIMITED	Director	22/05/1996	22/05/1996	-	Active	NO
9	U15312OR2003PTC007383	EASTERN FOODS PRIVATE LIMITED	Director	12/11/2003	12/11/2003	-	Active	NO
10	U27102OR2003PLC007354	YAZDANI STEEL & POWER LIMITED	Director	17/11/2003	17/11/2003	30/09/2011	Active	NO
11	U15400OR2011PTC014276	EASTERN GOURMET PRIVATE LIMITED	Director	27/09/2011	27/09/2011	-	Active	NO
12	U15400OR2013PTC016962	EASTERNZONE INDUSTRIES PRIVATE LIMITED	Director	07/06/2013	07/06/2013	-	Active	NO

Name :

Mr. Samarjeet Sahoo

Designation :

Director

Address :

Arunodaya Nagar, Arunodaya Market – 753 012

Date of Birth/Age :

02.02.1979

Date of Appointment :

12.11.2003

DIN No.:

00688554

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	U15311OR1984PTC001409	EASTERN ROLLER FLOUR MILLS PVT LTD	Director	06/09/1984	06/09/1984	-	Amalgamated	NO
2	U74999OR1988PTC002047	EASTERN FREEZE PRIVATE LIMITED	Director	18/07/1988	18/07/1988	-	Active	NO
3	U15331OR1991PTC002746	MEGHA PAPERS PVT LTD	Director	18/02/1991	18/02/1991	-	Active	NO
4	U45203OR1992PTC003140	BABA LOKANATH MINING AND ENGINEERS PRIVATE LIMITED	Director	08/09/1992	08/09/1992	-	Active	NO
5	U05001OR1993PTC003329	EASTERN MARINES PVT. LTD.	Director	17/05/1993	17/05/1993	-	Active	NO
6	U45202OR1993PLC003328	RAJLAXMI CONSTRUCTION LIMITED	Managing director	01/04/2009	17/05/1993	-	Active	NO
7	U51109WB1995PTC070299	NIRMOHI STEEL PVT LTD	Director	29/03/1995	29/03/1995	25/02/2006	Active	NO
8	U15412OR1996PTC004443	EASTERN CONFECTIONERY PRIVATE LIMITED	Director	22/05/1996	22/05/1996	-	Active	NO
9	U15312OR2003PTC007383	EASTERN FOODS PRIVATE LIMITED	Director	12/11/2003	12/11/2003	-	Active	NO
10	U27102OR2003PLC007354	YAZDANI STEEL & POWER LIMITED	Director	17/11/2003	17/11/2003	30/09/2011	Active	NO
11	U15400OR2011PTC014276	EASTERN GOURMET PRIVATE LIMITED	Director	27/09/2011	27/09/2011	-	Active	NO
12	U15400OR2013PTC016962	EASTERNZONE INDUSTRIES PRIVATE LIMITED	Director	07/06/2013	07/06/2013	-	Active	NO

Name :

Mr. Sanjay Kumar Sahoo

Designation :

Director

Address :

Thakurpatna, Kendrapara – 754211, Orissa, India

Date of Birth/Age :

06.02.1961

Date of Appointment :

12.11.2003

DIN No.:

00850587

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	U15311OR1984PTC001409	EASTERN ROLLER FLOUR MILLS PVT LTD	Director	01/02/2003	01/02/2003	-	Amalgamated	NO
2	U15312OR2003PTC007383	EASTERN FOODS PRIVATE LIMITED	Director	12/11/2003	12/11/2003	-	Active	NO
3	U15400OR2011PTC014276	EASTERN GOURMET PRIVATE LIMITED	Director	27/09/2011	27/09/2011	-	Active	NO
4	U15400OR2013PTC016962	EASTERNZONE INDUSTRIES PRIVATE LIMITED	Director	07/06/2013	07/06/2013	-	Active	NO

Name :

Mr. Sachidananda Das

Designation :

Whole Time Director

Address :

Gopalpur, Cuttack – 754 003, Orissa, India

Date of Birth/Age :

24.12.1953

Date of Appointment :

01.04.2009

DIN No.:

02814665

KEY EXECUTIVES

Name :	Mr. Laxman Rao
Designation :	Accounts Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Equity Shareholders	No. of Shares
Surendra Sahoo	142333
Samarjeet Sahoo	1018
Suchitra Sahoo	71042
Madhaba Prasad Sharma	18341
Sidhartha Sarangi	720
Chandraprabhu Vyappar (Private) Limited, India	89317
Surendra Nath Sahoo (HUF)	2160
Baba Loknath Mining and Engineering (Private) Limited, India	111773
Lilly Sahoo	12457
Rashnibala Sahoo	15016
Sanjay Kumar Sahoo	8260
Subhrajeet Sahoo	36953
Pratyush Sahoo	26200
Anjana Sharma	8502
Upendranath Das	1800
Shashi Bhusan Swain	360
Smitaprabha Sahoo	71640
Nirmoshi Steel Private Limited, India	20520
Tuticorin Dealcomm Private Limited, India	28846
Debdutta Sahoo	1538
Megha Paper Private Limited	5769
S. N. Sahoo and Company	18547
Rajlaxmi Construction Limited	9108763
Total	9801875

Names of Preference Shareholders	No. of Shares
Baba Loknath Mining and Engineering (Private) Limited, India	98000
Total	98000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	47.83
Directors or relatives of Directors	52.17
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of food products.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Food Product
Countries :	Bangladesh
Imports :	Not Divulged
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 :

150 (Approximately)

Bankers :

Bank Name	Not Divulged
Branch	State Bank of India
Person Name (With Designation)	SME Branch, Industrial Estate, Madhupatna, Cuttack - 753010, Orissa, India
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

· State Bank of India, Commercial Branch, Idcol House, Unit-2, Ashok Nagar, Bhubaneswar - 751009, Orissa, India

· Axis Bank Limited, Cuttack, India

· ICICI Bank Limited

· Urban Co-Operative Bank Limited, Jagatpur

· Union Bank of India, Kendrapara Branch

· Canara Bank, Cuttack, India

· HDFC Bank, Cuttack, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from banks	1.240	2.068
Short-term borrowings
Working capital loans from banks	115.321	109.454
Other loans and advances	42.357	53.567
Total	158.918	165.089

Auditors :
Name :	R. K. Das and Associates Chartered Accountants
Address :	002,Shyamkunj, Apartment,Kathjodi, Ring, Road,Cuttack-753012, Orrisa, India
PAN N Income-tax PAN of auditor or auditor's firm :	AADFR8063K
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.100/- each	Rs. 100.000 Million
100,000	Preference Shares	Rs.100/- each	Rs. 10.000 Million
	Total		Rs. 110.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
801,875	Equity Shares	Rs.100/- each	Rs. 80.188 Million
98,000	Preference Shares	Rs.100/- each	Rs. 9.800 Million
			Rs. 89.988 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	89.988	85.375	74.499
(b) Reserves & Surplus	252.003	223.199	59.873
(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)	341.991	308.574	134.372
(3) Non-Current Liabilities
(a) long-term borrowings	1.240	2.068	0.713
(b) Deferred tax liabilities (Net)	2.210	2.940	3.581
(c) Other long term liabilities	3.297	0.700	0.700
(d) long-term provisions	0.790	0.744	0.544
Total Non-current Liabilities (3)	7.537	6.452	5.538
(4) Current Liabilities
(a) Short term borrowings	157.678	163.021	71.549
(b) Trade payables	93.870	88.119	70.970
(c) Other current liabilities	4.344	5.404	9.178
(d) Short-term provisions	0.838	0.450	0.311
Total Current Liabilities (4)	256.730	256.994	152.008
TOTAL	606.258	572.020	291.918
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	195.469	204.927	82.884
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	1.230	5.965	5.965
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	27.649	21.649	9.591
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	6.152	6.470	5.687
(e) Other Non-current assets	6.015	4.206	5.447
Total Non-Current Assets	236.515	243.217	109.574
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	178.118	138.328	87.406
(c) Trade receivables	169.264	111.134	86.317
(d) Cash and cash equivalents	14.679	26.978	5.138
(e) Short-term loans and advances	7.568	52.363	3.449
(f) Other current assets	0.114	0.000	0.034
Total Current Assets	369.743	328.803	182.344
TOTAL	606.258	572.020	291.918

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income
		Other Income
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT AFTER TAX		30.361	166.446	22.670
	Earnings Per Share (Rs.)		33.74	--	--

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 operations	NA	NA	NA

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	0.46	0.54	0.54
Current Ratio (Current Asset/Current Liability)	1.44	1.28	1.20

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	74.499	85.375	89.988
Reserves & Surplus	59.873	223.199	252.003
Net worth	134.372	308.574	341.991
long-term borrowings	0.713	2.068	1.240
Short term borrowings	71.549	163.021	157.678
Total borrowings	72.262	165.089	158.918
Debt/Equity ratio	0.538	0.535	0.465

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

CORPORATE INFORMATION:

The Company carries on business of manufacturing wheat products and rice products. Its registered office is at New Industrial Estate, Jagatpur and Cuttack and Factory: Wheat Proceesing unit: at New Industrial Estate, Jagatpur and Cuttack and Rice Processing unit: at Rangidaspur, Chhatia, Jajpur. It was established in the year 2003. The one erstwhile company i.e. Eastern Roller Flour Mills Private Limited has been amalgamted with the company w.e.f. appointed date i.e. 01/04/2008 by way of amalgamation u/s 391(2) to 394 of the Companies Act, 1956 by virtue of Honble High Court of Orissa order date 20th May, 2009. The company markets its products in the state of the Odisha, Andhra Pradhesh & West Bengal.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10365080	14/06/2012	4,350,000.00	STATE BANK OF INDIA	SME BRANCH, INDUSTRIAL ESTATE,, MADHUPATNA, CUTTACK, Orissa - 753010, INDIA	B43447853
2	10412451	30/03/2012	74,700,000.00	STATE BANK OF INDIA	SME BRANCH, INDUSTRIAL ESTATE, MADHUPATNA, CUTTACK, Orissa - 753010, INDIA	B44769735
3	80011574	25/03/2008 *	55,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH,OSIC BUILDING, KHAPURIA, CUTTACK, Orissa - 753010, INDIA	A35686229
4	90081264	11/07/2005 *	27,600,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, CUTTACK, Orissa, INDIA	-
5	80019610	12/08/2008 *	146,400,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, IDCOL HOUSE, UNIT-2, ASHOK NAGAR, BHUBANESWAR, Orissa - 751009, INDIA	A46440327
6	90081982	16/03/2004 *	15,200,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH; MADHUPATNA, CUUTUCK, Orissa, INDIA	-
7	90078327	31/03/1997 *	13,848,150.00	STATE BANK OF INDIA	COMMERCIAL BRANCH; MADHUPATNA, CUUTUCK, Orissa, INDIA	-
8	90079305	11/11/2003 *	21,200,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH; MADHUPATNA, CUUTUCK, Orissa, INDIA	-
9	90078884	13/05/2014 *	187,500,000.00	STATE BANK OF INDIA	SME BRANCH, INDUSTRIAL ESTATE, OSIC BUILDING,MADHUPATNA, CUTTACK, Orissa - 753010, INDIA	C05930581

FIXED ASSETS

· Land

· Buildings

· Plant and Machinery

· Furniture and Fixture

· Vehicle

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.64.03
UK Pound	1	Rs.99.27
Euro	1	Rs.71.90

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	TRI
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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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