MIRA INFORM REPORT

Report No. :	327424
Report Date :	15.06.2015

IDENTIFICATION DETAILS

Name :	K K NAG LIMITED (w.e.f.13.07.1965)
Formerly Known As :	K K NAG PRIVATE LIMITED
Registered Office :	15, Sangam Project, Phase II, Sangam Bridge, 46 Dr. Ambedkar Road, Pune - 411001, Maharashtra
Tel. No.:	91-20-30269650
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	13.07.1965
Com. Reg. No.:	25-013267
Capital Investment / Paid-up Capital :	Rs. 8.470 Million
CIN No.: [Company Identification No.]	U25209MH1965PTC013267
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	PNEK00493D
PAN No.: [Permanent Account No.]	AAACK7014M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing, Exporting, Importing of Expanded Polystyrene (EPS), moulded packaging and components and trading of evaporative air coolers and parts thereof.
No. of Employees :	1500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 210000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profitability of the company is low. However, the rating reflects extensive experience of the promoters in the expanded polystyrene packaging industry supported by sound financial base and adequate debt protection metrics of the company. Trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing 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 rating: BB-
Rating Explanation	Inadequate credit quality and high credit risk.
Date	17.11.2014

Rating Agency Name	CRISIL
Rating	Short term rating: A4+
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	17.11.2014

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

Name :	Mr. Vijay
Designation :	Finance Manager
Contact No.:	91-20-30269650
Date :	15.06.2015

LOCATIONS

Registered Office/ Corporate office :	15, Sangam Project, Phase II, Sangam Bridge, 46 Dr. Ambedkar Road, Pune - 411001, Maharashtra, India
Tel. No.:	91-20-30269650
Fax No.:	91-20-30269651
E-Mail :	cof@kknag.com pso@kknag.com
Website :	http://www.kknag.com
Pune Sales Office:	Gat No. 393, At and Post Urse, Taluka Maval, District Pune – 410506, Maharashtra, India
Tel. No.:	91-959444644
Fax No.:	91-20-30269651
Pune Manufacturing – Urse (Talegaon):	Gat No. 393, At Post Urse, Taluka Maval, Pune - 410506, Maharashtra, India
Tel. No.:	91-2114-237081/ 82/ 83/ 237481/ 85
Fax No.:	91-2114-237084
E-Mail :	mur@kknag.com
Pune Manufacturing - Ranjangaon:	Plot No. E - 86, Ranjangaon Industrial Area, Village Karegaon, Taluka Shirur, District Pune - 412208, Maharashtra, India
Tel. No.:	91-2138-288276/ 232731
Fax No.:	91-2138-237084
E-Mail :	mrn@kknag.com
Bangalore Sales Office / Bangalore Manufacturing:	Survey No. 182/1, Anekal To Attibelel Road, Bidragere Grama, Kasaba Hobli, Bestamanahalli Post, Anekal, Bangalore - 562106, Karnataka, India
Tel. No.:	91-80-27841639
Fax No.:	91-80-27841638
E-Mail :	mbl@kknag.com bso@kknag.com
Puducherry Sales Office and Manufacturing :	84/1, Molapakkam Road, Kariamanichkkam, Netapakkam Commune, Pondicherry – 605106, India
Tel. No.:	91-413-2699970/ 2699971/ 3243125
Fax No.:	91-413-2699785
E-Mail :	mkm@kknag.com
Chennai Sales Office / Chennai Manufacturing - Thiruvallur :	Survey No. 490/2A and 2B, Vengathur Village, Kilnallathur-Vengathur Thandupattai Road, Thiruvallur - 602002, Tamilnadu, India
Tel. No.:	91-44-27640554
Fax No.:	91-44-27640554
E-Mail :	mtv@kknag.com cso@kknag.com
Engineering Support Division/ Rotomoulding Division/ Rural Development Cell :	Shembekar Industrial Compound, Chinchwad, Pune - 411019, Maharashtra, India
Tel. No.:	91-20-65104554/ 27461440/ 27440245
Fax No.:	91-20-30269651
E-Mail :	esd@kknag.com rmd@kknag.com rdc@kknag.com
Breezair Business Group:	15 Sangam Project, Phase – II, SAngam Bridge 46, Dr. Ambedkar Road, Pune – 411001, Maharashtra, India
Tel. No.:	91-20-30269650
Fax No.:	91-20-30269651
E-Mail :	rdc@kknag.com
Rural Development Cell:	Gat No. 402, At and Post Urse, Taluka Maval, District – Pune – 410506, Maharashtra, India
Tel. No.:	91-9579444644
Fax No.:	91-20-30269651
E-Mail :	rdc@kknag.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Milon Kalyankumar Nag

Designation :

Managing director

Address :

“Barodi”, 3, Boat Club Road, Pune - 411001, Maharashtra, India

Date of Birth/Age :

06.07.1962

Date of Appointment :

01.11.1986

DIN No.:

00267622

PAN No.:

AAHPN3750D

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	U25209MH1965PTC013267	K K NAG PRIVATE LIMITED	Managing director	01-11-1986	01-11-1986	-	Active	NO
2	U99999MH1991PTC063433	MAGNAPLAST TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	16-11-1999	16-11-1999	-	Not Available for filing	NO
3	U72200PN1991PTC014364	MAGNAPLAST TECHNOLOGEIS (INDIA) PRIVATE LIMITED	Director	16-11-1999	16-11-1999	09-01-2009	Active	NO
4	U74999HR2014FTC051658	IU CONSULTING AND RESEARCH INDIA PRIVATE LIMITED	Director	21-01-2014	21-01-2014	-	Active	NO

Name :

Mr. Ayyappankave Venkateshwaran Ramanathan

Designation :

Director

Address :

A/3/22, Agrasen Co-Operative Housing Society, 8, Koregaon Park, Pune – 411001, Maharashtra, India

Date of Birth/Age :

15.03.1939

Date of Appointment :

02.10.1978

DIN No.:

01489659

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	U25209MH1965PTC013267	K K NAG PRIVATE LIMITED	Director	02-10-1978	02-10-1978	-	Active	NO
2	U32102MH1962PTC012271	MADHAV CAPACITORS PRIVATE LIMITED	Director	14-04-1994	14-04-1994	-	Active	NO
3	U74140MH1995PTC089011	ARCHER MANAGEMENT SERVICES PRIVATE LIMITED	Director	08-06-1997	08-06-1997	30-05-2012	Active	NO

Name :

Mr.

Shona Milon Nag

Designation :

Additional Director

Address :

“Barodi”, 3, Boat Club Road, Pune - 411001, Maharashtra, India

Date of Birth/Age :

03.04.1963

Date of Appointment :

30.09.2013

DIN No.:

06682807

KEY EXECUTIVES

Name :	Mr. Vijay
Designation :	Finance Manager

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Milon Nag J/W Mitali Nag	28230
Milon Nag J/W Shona Nag	28231
Milon Nag J/W Crishna Nag	28230
Mitali Nag J/W Milon Nag	1
Joya Sabberwal J/W Milon Nag	8
Crishna Nag J/W Milon Nag	1
Shona Nag J/W Milon Nag	1
Shona Nag J/W Mitali Nag	1
Shona Nag J/W Crishna Nag	1
Total	84704

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing, Exporting, Importing of Expanded Polystyrene (EPS), moulded packaging and components and trading of evaporative air coolers and parts thereof.

Products :

Item Code No. (ITC Code)	Product Description
84804900	Shape mouldings

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

• UK
• Belgium
• Dubai
• Nepal
• France
• Kenya

Imports :

Products :

Raw Material

Countries :

• Singapore
• Japan
• Thailand
• China

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Supreme Petrochemicals
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 :	L. G India
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 :

1500 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Industrial Finance Branch Pimpri Old Pune Mumbai Highway, Kasarwadi Near Kalasagar, Kasarwadi Pimpri, Pune - 411018, Maharashtra, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee term loans from banks	12.976	7.719
SHORT TERM BORROWING
Other loans and advances, others	55.343	47.684
Deferred sales tax loan	0.000	1.223
Total	68.319	56.626

Auditors :
Name :	Delloite Haskins and Sells Chartered Accountants
Address :	706, B Wing, 7^th Floor, ICC Trade Tower, Senapati Bapat Road, Pune – 411016, Maharashtra, India
Tel. No.:	91-20-66244600
Fax No.:	91-20-66244605
PAN N Income-tax PAN of auditor or auditor's firm :	AACFD4815A
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
84704	Equity Shares	Rs.100/- each	Rs. 8.470 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	8.470	8.470	8.470
(b) Reserves & Surplus	64.239	63.563	52.299
(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)	72.709	72.033	60.769
(3) Non-Current Liabilities
(a) long-term borrowings	20.956	9.673	23.641
(b) Deferred tax liabilities (Net)	8.137	10.312	5.222
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	29.093	19.985	28.863
(4) Current Liabilities
(a) Short term borrowings	55.343	47.684	73.239
(b) Trade payables	274.475	259.975	219.407
(c) Other current liabilities	32.925	35.554	29.409
(d) Short-term provisions	1.751	4.786	0.000
Total Current Liabilities (4)	364.494	347.999	322.055
TOTAL	466.296	440.017	411.687
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	133.588	143.076	152.053
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	17.760	4.835	6.303
(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	12.412	10.881	10.721
(e) Other Non-current assets	2.975	2.033	4.685
Total Non-Current Assets	166.735	160.825	173.762
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	88.735	81.556	76.601
(c) Trade receivables	183.193	174.800	146.097
(d) Cash and cash equivalents	13.550	7.760	6.166
(e) Short-term loans and advances	13.187	11.504	6.916
(f) Other current assets	0.896	3.572	2.145
Total Current Assets	299.561	279.192	237.925
TOTAL	466.296	440.017	411.687

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1144.779	959.092	818.053
	Other Income	9.274	5.399	5.720
	TOTAL (A)	1154.053	964.491	823.773
Less	EXPENSES
	Cost of Materials Consumed	645.691	494.584	400.876
	Purchases of Stock-in-Trade	23.260	21.458	26.413
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(2.214)	0.442	(4.628)
	Employees benefits expense	133.888	105.733	96.634
	Other expenses	302.180	272.994	271.001
	TOTAL (B)	1102.805	895.211	790.296
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	51.248	69.280	33.477
Less	FINANCIAL EXPENSES (D)	22.293	24.415	26.261
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	28.955	44.865	7.216
Less/ Add	DEPRECIATION/ AMORTISATION (F)	25.833	25.440	25.837
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	3.122	19.425	(18.621)
Less	TAX (I)	1.456	7.170	(6.421)
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	1.666	12.255	(12.200)
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	43.362	32.098	44.298
	APPROPRIATIONS
	Proposed Dividend	0.847	0.847	0.000
	Tax on Proposed Dividend	0.144	0.144	0.000
	Balance Carried to the B/S	44.038	43.363	32.098
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	NA	44.991	29.745
	TOTAL EARNINGS	NA	44.991	29.745
	IMPORTS
	Raw Material	NA	47.952	35.198
	Stores & Spares	NA	0.308	1.605
	Capital Items	NA	0.000	3.946
	Traded Items	NA	15.799	22.970
	TOTAL IMPORTS	NA	64.059	63.719
	Earnings / (Loss) Per Share (Rs.)	19.67	144.69	-144.03

Particulars	31.03.2015
Sales Turnover (Approximately)	1250.000

The above information has been parted by Mr. Vijay (Finance Manager).

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	12.118	19.282	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.15	1.28	(1.49)
Operating Profit Margin (PBIDT/Sales)	(%)	4.48	7.22	4.09
Return on Total Assets (PBT/Total Assets}	(%)	0.70	4.46	(4.59)
Return on Investment (ROI) (PBT/Networth)		0.04	0.27	(0.31)
Debt Equity Ratio (Total Debt /Networth)		1.22	1.06	1.59
Current Ratio (Current Asset/Current Liability)		0.82	0.80	0.74

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	8.470	8.470	8.470
Reserves & Surplus	52.299	63.563	64.239
Net worth	60.769	72.033	72.709
long-term borrowings	23.641	9.673	20.956
Short term borrowings	73.239	47.684	55.343
Total borrowings	96.880	76.639	88.417
Debt/Equity ratio	1.594	1.064	1.216

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	818.053	959.092	1144.779
		17.241	19.361

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	818.053	959.092	1144.779
Profit	(12.200)	12.255	1.666
	(1.49%)	1.28%	0.15%

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	Yes
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	Yes
19	Major customers	Yes
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 four 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

NOTE: registered office of the company has been shifted from Gat No. 393, at Post Urse Tal Maval, Pune -410506, Maharashtra India to the present address w.e.f. 28.05.2011

OPERATIONS

Despite Revenue from Operations increasing by 19%, the Company’s net profit margin reduced to 0.15% compared to 1.27% in the previous year.

The Division-wise performance was as under:

MANUFACTURING DIVISION: URSE

The division delivered a better performance by achieving a small profit as compared to a heavy loss of Rs.4.192 Million in the previous year.

MANUFACTURING DIVISION: RANJANGAONRs.

Due to very low volumes, the division suffered a marginal loss.

MANUFACTURING DIVISION: BENGALURU

The performance of this division was disappointing. On account of lower volumes, increases in input costs and sub-optimal operating efficiencies, the Division continued to register heavy losses during the year and the company had to take the tough decision of closing the manufacturing activities. The loss for the division, including closure expenses, was Rs.20.214 Million.

MANUFACTURING DIVISION: KARIAMANICKKAM

The Division performed very well during the year, registering a healthy profit compared to a marginal loss in the previous year.

MANUFACTURING DIVISION: THIRUVALLUR

The division also performed well during the year, registering a small profit compared to a loss in the previous year.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG-TERM BORROWINGS
Deposits from others	7.980	0.731
Total	7.980	0.731

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10540046	21/10/2014	5,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, PIMPRI, PUNE, MAHARASH  TRA - 411034, INDIA	C38899860
2	10018036	22/01/2014 *	182,800,000.00	STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH PIMPRI	OLD PUNE MUMBAI HIGHWAY, KASARWADI NEAR KALASAGAR,  KASARWADI PIMPRI, PUNE, MAHARASHTRA - 411018, INDIA	B96355474
3	90087968	07/01/2000 *	67,000,000.00	STATE BANK OF INDIA	PIMPRI BR., PUNE, MAHARASHTRA, INDIA	-
4	90082413	01/12/2003 *	31,800,000.00	STATE BANK OF INDIA	PIMPRI, PUNE BRANCH, PUNE, MAHARASHTRA - 411034, INDIA	-
5	90090040	28/10/1994	14,400,000.00	STATE BANK OF INDIA	PUNE PIMPRI BR., PUNE, MAHARASHTRA, INDIA	-
6	90087594	08/12/1988 *	7,132,000.00	STATE BANK OF INDIA	PIMPRI BRANCH, BOMBAY-PUNE ROAD, PUNE, MAHARASHTRA - 411018, INDIA	-
7	90089353	28/10/1994 *	7,432,000.00	STATE BANK OF INDIA	PIMPRI BR., PUNE, MAHARASHTRA - 411034, INDIA	-
8	90089194	24/12/1981 *	3,900,000.00	STATE BANK OF INDIA	PIMPRI BRANCH, BOMBAY-PUNE ROAD, PUNE, MAHARASHTRA - 411034, INDIA	-

* Date of charge modification

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
Bank Guarantee outstanding	15.923	7.327
Matters pending in appeals
For Income tax	0.335	0.335
For Sales tax	3.885	6.000
For Service tax	0.088	0.088
Excise duty matters pending in appeals	0.321	0.321

FIXED ASSETS

Tangible assets

• Land
• Buildings
• Office equipment
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Other 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.64.03
UK Pound	1	Rs.99.27
Euro	1	Rs.71.90

INFORMATION DETAILS

Information Gathered by :	KAM
Analysis Done by :	KAR
Report Prepared by :	GTA

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	4
--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		42

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.