MIRA INFORM REPORT

Report No. :	327207
Report Date :	17.06.2015

IDENTIFICATION DETAILS

Name :	BEEKAYLON SYNTHETICS PRIVATE LIMITED
Registered Office :	9, Jasville, 3^rd Floor, 9, New Marine Lines, Mumbai – 400 020, Maharashtra
Tel. No.:	91-22-22000488 / 22005652
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.01.1979
Com. Reg. No.:	11-020944
Capital Investment / Paid-up Capital :	Rs.27.940 Million
CIN No.: [Company Identification No.]	U17110MH1979PTC020944
TAN No.: [Tax Deduction & Collection Account No.]	MUMB12712A
PAN No.: [Permanent Account No.]	AAACB2976M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Importer and Supplier of Dyed Polyester Yarn, Textured Polyester Yarn and Dope Dyed Black Polyester Yarn.
No. of Employees :	700 (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 :	Usually correct
Litigation :	Clear
Comments :	Subject is a well-established private limited company incorporated in the year 1979 having satisfactory track. It is one of the pioneers and leading manufacturers of polyester yarn in India. Rating takes into consideration the established market position of the company in textiles industry, strong financial risk profile backed by large net worth and moderate gearing. Trade relations are fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings with 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 BBB
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	20.05.2014

Rating Agency Name	CRISIL
Rating	Short term A3+
Rating Explanation	Moderate degree of safety and higher credit risk
Date	20.05.2014

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. Ranjit Chaudhary
Designation :	Finance Manager
Contact No.:	91-22-22000488
Date :	15.06.2015

LOCATIONS

Registered Office :	9, Jasville, 3^rd Floor, 9, New Marine Lines, Mumbai – 400 020, Maharashtra, India
Tel. No.:	91-22-22000488/ 22005652 / 43530400
Fax No.:	91-22-22006437/ 43530438 / 22006437
E-Mail :	premgtolani@rediffmail.com bklon@vsnl.com shohink@gmail.com rahulkhemani@hotmail.com bspl@bklon.com
Website :	http://www.beekaylon.com
Head Office :	7, Jasville, 2^nd Floor, Opposite Liberty Cinema, 9, New Marine Lines, Mumbai – 400 020, Maharashtra, India
Factory 1 :	60, Government Industrial Estate, Masat, Silvassa – 396 230, (U.T.), Dadra and Nagar Haveli, India
Tel. No.:	91-260-2640842/ 2640843 / 3296346
Fax No.:	91-260-2640641
Factory 2 :	Survey No. 205/2, 207, Village Samarvarni, Silvassa – 396230, (U.T.). D and N Haveli.
Factory 3 :	63, B. Danudyog Sahakari Sangh Limited, Piparia, Silvassa – 396 230, (U.T.), Dadra and Nagar Haveli, India
Tel. No.:	91-260-3293596
Fax No.:	91-260-2640632
Factory :	Also located at: v Samarvarni

DIRECTORS

As on : 30.09.2014

Name :

Mr. Nand Kishinchand Khemani

Designation :

Managing Director

Address :

32, Elcid Building, 13-A Ridge Road, Malabar Hill, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

31.12.1945

Date of Appointment :

01.04.2008

DIN No.:

00053671

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	U17110MH1979PTC020944	BEEKAYLON SYNTHETICS PRIVATE LIMITED	Managing director	01/04/2008	23/01/1979	-	Active	NO
2	U17110MH1979PTC021552	SANGAM SYNTWIST TEXTILES PRIVATE LIMITED	Director	27/08/1981	27/08/1981	-	Active	NO
3	U17100MH1987PTC042905	BUTEX TEXTILE INDUSTRIES PVT LTD	Director	13/03/1987	13/03/1987	-	Active	NO
4	U17110MH1988PTC047105	SETRON SYNTHETICS PRIVATE LIMITED	Director	21/04/1988	21/04/1988	-	Active	NO
5	U74899DL1988PTC034431	TIMES LEASING (INDIA ) PRIVATE LIMITED.	Director	28/12/1988	28/12/1988	-	Active	NO
6	L17100MH1985PLC037514	BLUE CHIP TEX INDUSTRIES LIMITED	Managing director	01/09/2014	19/07/1989	-	Active	NO
7	U17100MH1996PTC100522	ARAVALI FABRICS PRIVATE LIMITED	Director	25/06/1996	25/06/1996	-	Amalgamated	NO
8	U73100MH1970NPL014736	ALL INDIA TEXTURISERS ASSOCIATION	Director	14/08/1999	14/08/1999	-	Active	NO

Name :

Mr. Ashok Kishinchand Khemani

Designation :

Managing Director

Address :

32, Elcid Building, 13-A Ridge Road, Malabar Hill, Mumbai – 400 006, Maharashtra, India

Date of Appointment :

20.07.1983

DIN No.:

00053623

Name :

Mr. Mahesh Lakhmichand Lakhwani

Designation :

Director

Address :

1602, Belscot Tower, Lokhandwala Complex, Andheri (West), Mumbai – 400 058, Maharashtra, India

Date of Appointment :

01.10.1994

DIN No.:

00230091

Name :

Mr. Rahul Ashok Khemani

Designation :

Director

Address :

32, Elcid Building, 13-A Ridge Road, Malabar Hill, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

30.01.1985

Date of Appointment :

30.09.2011

DIN No.:

03290468

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	L17100MH1985PLC037514	BLUE CHIP TEX INDUSTRIES LIMITED	Director	11/08/2011	01/11/2010	-	Active	NO
2	U17110MH1979PTC020944	BEEKAYLON SYNTHETICS PRIVATE LIMITED	Director	30/09/2011	01/11/2010	-	Active	NO

Name :

Mr. Shahin Nand Khemani

Designation :

Director

Address :

32, Elcid Building, 13-A Ridge Road, Malabar Hill, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

03.03.1985

Date of Appointment :

30.09.2011

DIN No.:

03296813

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	L17100MH1985PLC037514	BLUE CHIP TEX INDUSTRIES LIMITED	Director	11/08/2011	01/11/2010	-	Active	NO
2	U17110MH1979PTC020944	BEEKAYLON SYNTHETICS PRIVATE LIMITED	Director	30/09/2011	01/11/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ranjit Chaudhary
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2014

Names of Shareholders	No. of Shares
Nand K. Khemani	274500
Darvano K. Jeswani	5000
Roop Kishinahand Klemani and Nand Kishinchand Khernani	385000
Ashok K. Klemani and Rahul A.Kiemani	400000
Roop Kishinchand Khemani and Ramesh R. Khemani	385000
Kishinchand V. Khemani	27500
Roop K. Khenani	27500
Ashok K. Khernani	98998
Nand K. Khemani	27500
Raiesh R. Khemani	25000
Kamlesh N. Khemani	27500
Sheela N. Khemani	27500
Roop K. Khemani	135000
Nand K. Klemani and Shahin N. Khenani	143000
Roop K. Kiemani and Nmd K. Khemani	166650
Nmd K. Khemani and Shahin N. Khemani	I I0000
Kishinchand V. Khema.ni and Raclrna A. Khemani	24250
Bhagwali T. Datlvani	5500
Ashok K. Khenan;	6500
Daryano K, Jeswani / Sapna D. Jeswani / Laiu D. Jeswani	200
Daryano K. Jeswani/Deepa D. Jeswani/JvotiK. Nichani	200
Daryano K. Jeswani / Mava K. Jeswani	100
Roop K. Khenani / Ramesh R. Knem,ni	2500
Rajesh R. Khemani	2500
Nand K. Khenani/Shahin N. Khemani / Devdas K. Kiemani	100
Nand K. Khemani / Kiran D. Kiemmi / Mukesh D. Khemani	100
Nand K. Khenani / Kiran D. Kiemmi / Mukesh D. Khemani	100
Nand K. Khemani / Ramesh L. Lakhwani / Nirmala R. Lakhwani	100
Nand K. Khemani / Malesh L. Lakhwani / Renuka L. Laklrwani	100
Indo Tex Export House Pvt. Ltd, Mumbai	27500
Sangam Syntwist Textiles P\.1. Lrd, Mumbai	40100
Lachman Wadhumal Punjabi	418000
Rachra Khemani / Nitika Khemani / Rishma Khemani	500
Veena Nathani	1
Anju Nathani	1
Total	2794000

Equity Share Break up (Percentage of Total Equity)

As on : 30.09.2014

Category	Percentage
Bodies corporate	2.42
Directors or relatives of Directors	82.23
Others	15.35
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Importer and Supplier of Dyed Polyester Yarn, Textured Polyester Yarn and Dope Dyed Black Polyester Yarn.

Products :

Item Code No.	Product Description
5402	Polyester Yarn
2716	Wind Power

• Spun polyester yarn
• Polyester filament yarns
• Polyester dty yarn
• Polyester blended yarn
• Fdy polyester yarn
• Colored Polyester Thread
• Dyed Polyester yarn

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Products :

Finished Goods

Countries :

• Brazil
• Argentina

Imports :

Products :

Raw Material

Countries :

Germany

Terms :

Selling :

Cash, L/C and Credit

Purchasing :

Cash, L/C and 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 :

700 (Approximately)

Bankers :

Bank Name	Union Bank of India
Branch	Veer Nariman Road Branch, 84, Raj Mahal, Veer Nariman Road, Churchgate, Mumbai – 400 020, 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 :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loan from Bank	836.235	246.702
Foreign currency term loan from Bank	104.521	278.430
Short-term borrowings
Loans repayable on demand from Banks	273.359	63.987
Total	1214.115	589.119

Auditors :
Name :	Shah and Taparia Chartered Accountants
Address :	12, Navjeevan Wadi , Dhobi Talao , Mumbai – 400 002, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAOFS0663D
Memberships :	Not Available
Collaborators :	Not Available
Other Related Parties :	Ashoka International, India Beekaylon Developers, India Blue Chip Tex Industries Limited, India L17100MH1985PLC037514 D.N.H. Spinners Private Limited, India Devdas K. Khemani (nrpt), India Ge Ekay Industries, India Indo Leather Works, India Indotex Export House Private Limited, India U17100MH1972PTC016016 Imperial Jewellers Private Limited, India K.V.Khemani Charitable Trust, India Sangam Syntwist Textiles Private Limited, India U17110MH1979PTC021552 S E Tron Exports, India Setron Synthetics Private Limited, India U17110MH1988PTC047105 Sheela N. Khemani, India Siddharth A. Khemani, India Unity Developers, India Beekay international, India
Associates :	Cumballa Hill High School, India Jay Gee Rayons,M/S cumballa hill high school, India

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
7000000	Equity Shares	Rs.10/- each	Rs.70.000 Million
25000	Preference Shares	Rs.100/- each	Rs.2.500 Million
	Total		Rs.72.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2794000	Equity Shares	Rs.10/- each	Rs.27.940 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	27.940	27.940	27.940
(b) Reserves & Surplus	852.307	766.204	718.095
(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)	880.247	794.144	746.035
(3) Non-Current Liabilities
(a) long-term borrowings	1020.776	605.257	418.426
(b) Deferred tax liabilities (Net)	81.684	66.482	65.408
(c) Other long term liabilities	5.955	8.655	8.175
(d) long-term provisions	1.670	3.059	1.662
Total Non-current Liabilities (3)	1110.085	683.453	493.671
(4) Current Liabilities
(a) Short term borrowings	505.508	229.225	312.452
(b) Trade payables	189.527	105.014	97.153
(c) Other current liabilities	260.438	204.748	136.031
(d) Short-term provisions	25.272	15.396	6.125
Total Current Liabilities (4)	980.745	554.383	551.761
TOTAL	2971.077	2031.980	1791.467
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1077.815	853.708	908.669
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	580.736	201.080	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	105.500	149.140	112.675
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	68.372	76.542	99.398
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1832.423	1280.470	1120.742
(2) Current assets
(a) Current investments	6.652	6.990	18.347
(b) Inventories	321.428	206.781	232.152
(c) Trade receivables	295.971	225.532	219.725
(d) Cash and cash equivalents	233.985	184.214	107.690
(e) Short-term loans and advances	220.401	71.354	83.510
(f) Other current assets	60.217	56.639	9.301
Total Current Assets	1138.654	751.510	670.725
TOTAL	2971.077	2031.980	1791.467

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES	NA	NA	NA
Less	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	126.122	48.323	50.047
Less	TAX	39.805	48.323	0.000
	PROFIT/ (LOSS) AFTER TAX	86.317	0.000	50.047
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	580.533	336.039	159.455
	TOTAL EARNINGS	580.533	336.039	159.455
	Earnings / (Loss) Per Share (Rs.)	30.89	0.00	17.91

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	61.998
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	5.52	2.87	2.98
Return on Investment (ROI) (PBT/Networth)		0.14	0.06	0.07
Debt Equity Ratio (Total Debt /Networth)		1.73	1.05	1.06
Current Ratio (Current Asset/Current Liability)		1.16	1.36	1.22

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	27.940	27.940	27.940
Reserves & Surplus	718.095	766.204	852.307
Net worth	746.035	794.144	880.247
long-term borrowings	418.426	605.257	1020.776
Short term borrowings	312.452	229.225	505.508
Current Maturities of Long-Term Debts	61.998	0.000	0.000
Total borrowings	792.876	834.482	1526.284
Debt/Equity ratio	1.063	1.051	1.734

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	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and advances form related parties	0.000	80.125
Other loans and advances	80.020	0.000
Short-term borrowings
Loans and advances from related parties	232.149	165.238
Total	312.169	245.363

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10561244	18/03/2015	65,000,000.00	UNION BANK OF INDIA	VEER NARIMAN ROAD BRANCH,, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE,, MUMBAI, Maharashtra - 400020, INDIA	C50008770
2	10561245	18/03/2015	680,000,000.00	UNION BANK OF INDIA	VEER NARIMAN ROAD BRANCH,, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE,, MUMBAI, Maharashtra - 400020, INDIA	C50008952
3	10500830	25/03/2014	1,726,500,000.00	UNION BANK OF INDIA AS SECURITY TRUSTEE	VEER NARIMAN ROAD BRANCH,, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE,, MUMBAI, Maharashtra - 400020, INDIA	C05493101
4	10429324	24/08/2013 *	570,000,000.00	UNION BANK OF INDIA - SECURITY TRUSTEE	VEER NARIMAN ROAD BRANCH,, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE,, MUMBAI, Maharashtra - 400020, INDIA	B85920486
5	10424467	18/03/2015 *	1,750,600,000.00	UNION BANK OF INDIA	VEER NARIMAN ROAD BRANCH,, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE,, MUMBAI, Maharashtra - 400020, INDIA	C50148584
6	10336787	23/04/2013 *	1,225,100,000.00	UNION BANK OF INDIA	VEER NARIMAN ROAD BRANCH,, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE,, MUMBAI, Maharashtra - 400020, INDIA	B76401710
7	10338510	03/03/2014 *	40,000,000.00	UNION BANK OF INDIA	VEER NARIMAN ROAD BRANCH,, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE,, MUMBAI, Maharashtra - 400020, INDIA	B98187750
8	10311083	17/09/2011	70,000,000.00	UNION BANK OF INDIA	VEER NARIMAN ROAD BRANCH,, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE,, MUMBAI, Maharashtra - 400020, INDIA	B22895395
9	10311102	23/04/2013 *	100,000,000.00	UNION BANK OF INDIA	VEER NARIMAN ROAD BRANCH,, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE,, MUMBAI, Maharashtra - 400020, INDIA	B76402379
10	10278681	14/03/2011	50,000,000.00	UNION BANK OF INDIA	VEER NARIMAN ROAD BRANCH,, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE,, MUMBAI, Maharashtra - 400020, INDIA	B10076529

FIXED ASSETS

· Land

· Buildings

· Residential building

· Office building

· Plant and equipment

· Factory equipments

· Furniture and fixtures

· Vehicles

· Motor vehicles

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 records 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.64.15
UK Pound	1	Rs.100.03
Euro	1	Rs.72.27

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KIN
Report Prepared by :	SUJ

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	5
--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	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		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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.