MIRA INFORM REPORT

Report No. :	329148
Report Date :	26.06.2015

IDENTIFICATION DETAILS

Name :	A AHMEDALLY AND COMPANY PRIVATE LIMITED
Registered Office :	90-91,Shri Narasimharaja Road, P.B.No.6516, Bangalore – 560002, Karnataka
Tel. No.:	91-80-22224421 / 22213587
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.10.1946
Com. Reg. No.:	08-000433
Capital Investment / Paid-up Capital :	Rs.0.400 Million
CIN No.: [Company Identification No.]	U51101KA1946PTC000433
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACN1510F
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Plywood.
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 30000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an old and well-established private limited company incorporated in the year 1946, having satisfactory track. Rating takes into consideration the sound financial risk profile marked by low gearing and fair profit margin of the company. Overall financial condition of the company is decent. Trade relations are fair. Business is active. Payments are reported to be usually correct. In a view of long standing existence, 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

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Ramesh Babu
Designation :	Accounts Department
Contact No.:	91-80-22224421
Date :	25.06.2015

LOCATIONS

Registered Office / Warehouse :	90-91,Shri Narasimharaja Road, P.B.No.6516, Bangalore – 560002, Karnataka, India
Tel. No.:	91-80-22224421 / 22213587
Fax No.:	91-80-22220176
E-Mail :	aahmedallycompany1946@gmail.com
Branch Office :	5-1-447 to 449, Ranigunj, Secunderabad – 500003, Telangana, India
Tel. No.:	91-40-27713434 / 27710017
Fax No.:	91-40 - 27710017

DIRECTORS

As on 26.09.2014

Name :

Mr. Tyeb Salehbhai Vagh

Designation :

Managing Director

Address :

90-91 1st Floor, Sri N R Road, Bangalore - 560002, Karnataka, India

Date of Birth/Age :

19.08.1933

Date of Appointment :

21.06.1986

DIN No.:

00022663

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	U51101KA1946PTC000433	A AHMEDALLY AND COMPANY PRIVATE LIMITED	Managing director	21/06/1986	21/06/1986	-	Active	NO
2	U29214KA1977PTC003174	FERRO FOUNDRIES PRIVATE LIMITED	Director	07/06/1988	07/06/1988	-	Active	NO
3	U20232KA1961PTC001437	HUNSUR PLYWOOD WORKS PRIVATE LIMITED	Director	18/03/1990	18/03/1990	-	Active	NO
4	U02001KA1987PTC008701	PYRAMID TIMBER ASSOCIATES PRIVATE LIMITED	Director	18/03/1990	18/03/1990	-	Active	NO
5	U65993TZ1986PTC001784	SALEH SONS INVESTMENTS PRIVATE LIMITED	Director	18/03/1990	18/03/1990	-	Active	NO

Name :

Mr. Moiz Saifuddin Vagh

Designation :

Director

Address :

Hunsur Plywood Works Pvt Ltd, P.B. No. 2, Hunsur, Mysore - 571105, Karnataka, India

Date of Birth/Age :

02.07.1940

Date of Appointment :

26.03.1988

DIN No.:

00003579

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	U85110KA1970PTC001917	THE DECORATIVE LAMINATES INDIA PRIVATE LIMITED	Director	17/07/1970	17/07/1970	-	Active	NO
2	U29214KA1977PTC003174	FERRO FOUNDRIES PRIVATE LIMITED	Director	04/07/1977	04/07/1977	-	Active	NO
3	U20232KA1961PTC001437	HUNSUR PLYWOOD WORKS PRIVATE LIMITED	Director	27/12/1987	27/12/1987	-	Active	NO
4	U02001KA1987PTC008701	PYRAMID TIMBER ASSOCIATES PRIVATE LIMITED	Director	27/12/1987	27/12/1987	-	Active	NO
5	U65993TZ1986PTC001782	SAIF INVESTMENTS PRIVATE LIMITED	Director	27/12/1987	27/12/1987	-	Active	NO
6	U51101KA1946PTC000433	A AHMEDALLY AND COMPANY PRIVATE LIMITED	Director	26/03/1988	26/03/1988	-	Active	NO
7	U32109KA1986PTC007424	GLOWTRONICS PRIVATE LIMITED	Director	18/02/1989	18/02/1989	-	Active	NO

Name :

Mr. Abdul Hussain Saifuddinbhai Vagh

Designation :

Director

Address :

84, 6th Main, Jayalakshmi Puram, Mysore - 570012, Karnataka, India

Date of Birth/Age :

14.02.1944

Date of Appointment :

26.03.1988

DIN No.:

00001948

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	U85110KA1970PTC001917	THE DECORATIVE LAMINATES INDIA PRIVATE LIMITED	Director	26/12/1987	26/12/1987	-	Active	NO
2	U20232KA1961PTC001437	HUNSUR PLYWOOD WORKS PRIVATE LIMITED	Director	27/12/1987	27/12/1987	-	Active	NO
3	U02001KA1987PTC008701	PYRAMID TIMBER ASSOCIATES PRIVATE LIMITED	Director	27/12/1987	27/12/1987	-	Active	NO
4	U65993TZ1986PTC001782	SAIF INVESTMENTS PRIVATE LIMITED	Director	27/12/1987	27/12/1987	-	Active	NO
5	U29214KA1977PTC003174	FERRO FOUNDRIES PRIVATE LIMITED	Director	28/12/1987	28/12/1987	-	Active	NO
6	U51101KA1946PTC000433	A AHMEDALLY AND COMPANY PRIVATE LIMITED	Director	26/03/1988	26/03/1988	-	Active	NO
7	U36100KA1990PTC011424	M A S FURNITURE PRIVATE LIMITED	Director	28/11/1990	28/11/1990	-	Active	NO

Name :

Mr. Abbas Taher Bhai Vagh

Designation :

Director

Address :

14, Cherian Road, Ram Nagar, Coimbatore - 641009, Tamil Nadu, India

Date of Birth/Age :

01.10.1942

Date of Appointment :

21.06.1986

DIN No.:

00001941

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	U85110KA1970PTC001917	THE DECORATIVE LAMINATES INDIA PRIVATE LIMITED	Director	17/03/1972	17/03/1972	-	Active	NO
2	U51101KA1946PTC000433	A AHMEDALLY AND COMPANY PRIVATE LIMITED	Director	21/06/1986	21/06/1986	-	Active	NO
3	U29214KA1977PTC003174	FERRO FOUNDRIES PRIVATE LIMITED	Director	28/12/1987	28/12/1987	-	Active	NO
4	U02001KA1987PTC008701	PYRAMID TIMBER ASSOCIATES PRIVATE LIMITED	Director	18/03/1990	18/03/1990	-	Active	NO
5	U20232KA1961PTC001437	HUNSUR PLYWOOD WORKS PRIVATE LIMITED	Director	18/03/1990	18/03/1990	-	Active	NO
6	U65993TZ1986PTC001783	T M A VAGH INVESTMENTS PRIVATE LIMITED	Director	18/03/1990	18/03/1990	-	Active	NO

Name :

Mr. Mohammedbhai Taherbhai Vagh

Designation :

Director

Address :

No 291, I Cross, 4th Main, Jayalakshmi Puram, Mysore - 570012, Karnataka, India

Date of Birth/Age :

14.04.1954

Date of Appointment :

26.03.1988

DIN No.:

00001606

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	U29214KA1977PTC003174	FERRO FOUNDRIES PRIVATE LIMITED	Director	04/07/1977	04/07/1977	-	Active	NO
2	U02001KA1987PTC008701	PYRAMID TIMBER ASSOCIATES PRIVATE LIMITED	Whole-time director	05/11/1987	05/11/1987	-	Active	NO
3	U85110KA1970PTC001917	THE DECORATIVE LAMINATES INDIA PRIVATE LIMITED	Director	26/12/1987	26/12/1987	-	Active	NO
4	U20232KA1961PTC001437	HUNSUR PLYWOOD WORKS PRIVATE LIMITED	Director	27/12/1987	27/12/1987	-	Active	NO
5	U65993TZ1986PTC001783	T M A VAGH INVESTMENTS PRIVATE LIMITED	Director	27/12/1987	27/12/1987	-	Active	NO
6	U51101KA1946PTC000433	A AHMEDALLY AND COMPANY PRIVATE LIMITED	Director	26/03/1988	26/03/1988	-	Active	NO
7	U32109KA1986PTC007424	GLOWTRONICS PRIVATE LIMITED	Director	18/02/1989	18/02/1989	-	Active	NO
8	U36100KA1990PTC011424	M A S FURNITURE PRIVATE LIMITED	Director	07/12/1990	07/12/1990	-	Active	NO

Name :

Mr. Abbas Salehbhai Vagh

Designation :

Director

Address :

8/A Mahajana High School Road, Jayalakshmi Puram, Mysore - 570012, Karnataka, India

Date of Birth/Age :

15.03.1937

Date of Appointment :

26.03.1988

DIN No.:

00001605

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	U85110KA1970PTC001917	THE DECORATIVE LAMINATES INDIA PRIVATE LIMITED	Director	17/07/1970	17/07/1970	-	Active	NO
2	U29214KA1977PTC003174	FERRO FOUNDRIES PRIVATE LIMITED	Director	02/07/1977	02/07/1977	-	Active	NO
3	U51101KA1946PTC000433	A AHMEDALLY AND COMPANY PRIVATE LIMITED	Director	26/03/1988	26/03/1988	-	Active	NO
4	U32109KA1986PTC007424	GLOWTRONICS PRIVATE LIMITED	Director	10/08/1988	10/08/1988	-	Active	NO
5	U36100KA1990PTC011424	M A S FURNITURE PRIVATE LIMITED	Director	28/11/1990	28/11/1990	-	Active	NO
6	U20232KA1961PTC001437	HUNSUR PLYWOOD WORKS PRIVATE LIMITED	Director	27/12/1990	27/12/1990	-	Active	NO
7	U02001KA1987PTC008701	PYRAMID TIMBER ASSOCIATES PRIVATE LIMITED	Director	27/12/1990	27/12/1990	-	Active	NO
8	U65993TZ1986PTC001784	SALEH SONS INVESTMENTS PRIVATE LIMITED	Director	27/12/1990	27/12/1990	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ramesh Babu
Designation :	Accounts Department

MAJOR SHAREHOLDERS

As on 26.09.2014

SHAREHOLDERS FILE ATTACHED

As on 26.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Plywood.
Products :	Plywood
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Retailers and End Users

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

No. of Employees :

10 (Approximately)

Bankers :

Banker Name	Bank of India
Branch Address	27, Manohar Mansion, B.V.K. Iyengar Road, Bangalore – 560053, Karnataka, 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

Auditors :
Name :	VKS Aiyer and Company Chartered Accountants
Address :	As Apartments, No. 34, Bharathi Park 8th Cross, Saibaba Colony, Coimbatore – 641011, Tamil Nadu, India
PAN No.:	AACFV1533H
Memberships :	Not Available
Collaborators :	Not Available
Associates :	Hunsur Plywoods Private Limited Pyramid Timber Associates Decorative Laminates Private Limited MAS Furniture Private Limited Ferro Foundries Private Limited Mulla Abduall Hussain Sons Plymould Industrial Engineering Stores IES Agencies

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
4000	Equity Shares	Rs.100/- each	Rs.0.400 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
4000	Equity Shares	Rs.100/- each	Rs.0.400 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	0.400	0.400	0.400
(b) Reserves & Surplus	12.528	10.272	8.353
(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)	12.928	10.672	8.753
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	12.887	6.478	2.948
(b) Trade payables	18.137	18.636	17.287
(c) Other current liabilities	7.283	3.888	1.835
(d) Short-term provisions	0.702	0.697	0.697
Total Current Liabilities (4)	39.009	29.699	22.767
TOTAL	51.937	40.371	31.520
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.046	3.375	4.391
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(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)	1.090	0.548	0.085
(d) Long-term Loan and Advances	0.117	0.423	0.194
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	4.253	4.346	4.670
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	16.292	14.852	10.350
(c) Trade receivables	20.775	14.239	12.470
(d) Cash and cash equivalents	7.793	6.746	3.893
(e) Short-term loans and advances	2.747	0.188	0.137
(f) Other current assets	0.077	0.000	0.000
Total Current Assets	47.684	36.025	26.850
TOTAL	51.937	40.371	31.520

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	155.952	141.640	132.970
	Other Income	0.538	0.421	0.206
	TOTAL	156.490	142.061	133.176
Less	EXPENSES	150.657	136.516	128.209
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	5.833	5.545	4.967
Less	FINANCIAL EXPENSES	0.818	0.678	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	5.015	4.867	4.967
Less/ Add	DEPRECIATION/ AMORTISATION	0.932	1.193	1.213
	PROFIT/ (LOSS) BEFORE TAX	4.083	3.674	3.754
Less	TAX	1.125	1.058	0.725
	PROFIT/ (LOSS) AFTER TAX	2.958	2.616	3.029
	APPROPRIATIONS
	Transfer to General Reserve	0.600	0.600	0.600
	Dividend	0.101	0.097	0.097
	Tax on Dividend	0.760	0.524	2.332
	Total (M)	1.461	1.221	3.029
	Earnings / (Loss) Per Share (Rs.)	739.50	654.00	757.25

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
Net Profit Margin (PAT/Sales)	(%)	1.90	1.85	2.28
Operating Profit Margin (PBDIT / Sales)	(%)	3.74	3.91	3.74
Return on Total Assets (PBT/Total Assets}	(%)	8.03	9.23	11.94
Return on Investment (ROI) (PBT/Networth)		0.32	0.34	0.43
Debt Equity Ratio (Total Debt/Networth)		1.00	0.61	0.34
Current Ratio (Current Asset/Current Liability)		1.22	1.21	1.18

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	0.400	0.400	0.400
Reserves & Surplus	8.353	10.272	12.528
Net worth	8.753	10.672	12.928
long-term borrowings	0.000	0.000	0.000
Short term borrowings	2.948	6.478	12.887
Total borrowings	2.948	6.478	12.887
Debt/Equity ratio	0.337	0.607	0.997

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	132.970	141.640	155.952
		6.520	10.104

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	132.970	141.640	155.952
Profit	3.029	2.616	2.958
	2.28%	1.85%	1.90%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	----------------------
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	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	----------------------
33	Market information	----------------------
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

REVIEW OF THE OPERATIONS

During the year, the company continued the business of trading in plywood and other allied goods at Head Office in Bangalore. The company also carried out trading in hardware materials at Head Office, to a limited extent for supply to a construction industry. The company continued the business of trading in hardware materials at Secunderabad.

The sales at Head Office increased from Rs.89.522 Million to Rs.98.114 Million, including the sales of hardware materials. The sales at Secunderabad Branch increased from Rs.52.118 Million to Rs.66.144 Million. The overall sales turnover increased to Rs.154.867 Million from Rs.140.498 Million. The other operating income earned by way of commission on sales amounted to Rs.1.086 Million (last year Rs.1.142 Million).

However the overall net profit of the company before provision for income tax, but after providing for depreciation, increased marginally to Rs.4.131 Million as against Rs.3.674 Million in last year. This is due to higher amount of provision made against bad and doubtful debts in the hardware business carried out at Secunderabad. The overall performance of the company should be considered as satisfactory.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans and advances from Related Parties:
From Director / Relatives	12.887	6.478
Total	12.887	6.478

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Computers

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.63.61
UK Pound	1	Rs.99.79
Euro	1	Rs.71.16

INFORMATION DETAILS

Information Gathered by :	GAY
Analysis Done by :	KIN
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.