MIRA INFORM REPORT

Report No. :	310899
Report Date :	05.03.2015

IDENTIFICATION DETAILS

Name :	ROCKLAND HOTELS LIMITED

Registered Office :	B-207, Chittaranjan Park, Delhi – 110119

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	21.12.2005

Com. Reg. No.:	55-143881

Capital Investment / Paid-up Capital :	Rs. 53.579 Million

CIN No.: [Company Identification No.]	U55101DL2005PLC143881

IEC No.:	Not Available

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

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	The company is engaged in business of Hotel Sector.

No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1900000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The rating is constrained on account of continuous losses by the company. However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

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	ICRA
Rating	Long Term Rating = B+
Rating Explanation	High credit risk of default
Date	5^th May 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 31-03-2014.

INFORMATION DENIED

Management non-cooperative (Tel No.:91-11-47667100/42722222)

LOCATIONS

Registered Office :	B-207, Chittaranjan Park, Delhi – 110119, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	finance@rocklandhotels.com

DIRECTORS

AS ON 26.09.2014

Name :

Prabhat Kumar Srivastava

Designation :

Director

Address :

B-31, Somi Nagar, New Delhi – 110017, India

Date of Birth/Age :

30.11.1961

Date of Appointment :

21.12.2005

DIN No.:

00524482

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	U74899DL1993PTC053645	SOMYA CONSTRUCTIONS PRIVATE LIMITED	Director	19/05/1993	19/05/1993	02/01/2009	Active	NO
2	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Managing director	01/03/2013	16/08/2004	-	Active	NO
3	U55101DL2005PLC143881	ROCKLAND HOTELS LIMITED	Director	21/12/2005	21/12/2005	-	Active	NO
4	U80222DL2005PTC144157	ROCKLAND INSTITUTE OF RESEARCH AND EDUCATION PRIVATE LIMITED	Director	28/12/2005	28/12/2005	-	Active	NO
5	U85110DL2007PTC158985	ROCKLAND LABORATORIES PRIVATE LIMITED	Director	08/02/2007	08/02/2007	-	Active	NO
6	U32204DL2006PTC157069	ROCKLAND MEDIA AND COMMUNICATION PRIVATE LIMITED	Director	30/01/2008	30/01/2008	16/05/2011	Active	NO
7	U45200DL2008PTC174937	ROCK LAND Private Limited	Director	05/03/2008	05/03/2008	-	Active	NO
8	U11100DL2013PTC253150	ROCKLAND OIL & GAS PRIVATE LIMITED	Director	30/05/2013	30/05/2013	-	Active	NO
9	U51397DL2013PTC256807	ROCKLAND PHARMACY PRIVATE LIMITED	Director	22/08/2013	22/08/2013	-	Active	NO
10	U85100DL2013PTC259809	ROCKLAND HOSPITALS NOIDA PRIVATE LIMITED	Nominee director	17/01/2014	01/11/2013	-	Active	NO
11	U85100DL2013PLC262225	ROCKLAND HEALTHCARE LIMITED	Nominee director	16/12/2013	16/12/2013	-	Active	NO
12	U85100DL2013PTC262322	Rockland Diagnostics Services Private Limited	Director	17/12/2013	17/12/2013	-	Active	NO
13	U85100DL2014PLC264322	ROCKLAND G P NETWORK LIMITED	Nominee director	01/02/2014	01/02/2014	-	Active	NO
14	U85100DL2014PLC264404	ROCKLAND HOSPITAL SERVICES LIMITED	Nominee director	04/02/2014	04/02/2014	-	Active	NO

Name :

Rajesh Kumar Srivasatava

Designation :

Director

Address :

B-31, Somi Nagar, New Delhi – 110017, India

Date of Birth/Age :

22.02.1959

Date of Appointment :

21.12.2005

DIN No.:

00524536

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	U74899DL1993PTC053645	SOMYA CONSTRUCTIONS PRIVATE LIMITED	Director	19/05/1993	19/05/1993	02/01/2009	Active	NO
2	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Managing director	01/03/2013	16/08/2004	-	Active	NO
3	U55101DL2005PLC143881	ROCKLAND HOTELS LIMITED	Director	21/12/2005	21/12/2005	-	Active	NO
4	U80222DL2005PTC144157	ROCKLAND INSTITUTE OF RESEARCH AND EDUCATION PRIVATE LIMITED	Director	28/12/2005	28/12/2005	-	Active	NO
5	U32204DL2006PTC157069	ROCKLAND MEDIA AND COMMUNICATION PRIVATE LIMITED	Director	27/12/2006	27/12/2006	16/05/2011	Active	NO
6	U85110DL2007PTC158985	ROCKLAND LABORATORIES PRIVATE LIMITED	Director	08/02/2007	08/02/2007	-	Active	NO
7	U45200DL2008PTC174937	ROCK LAND Private Limited	Director	05/03/2008	05/03/2008	-	Active	NO
8	U51397DL2013PTC256807	ROCKLAND PHARMACY PRIVATE LIMITED	Director	22/08/2013	22/08/2013	-	Active	NO
9	U85100DL2013PTC259809	ROCKLAND HOSPITALS NOIDA PRIVATE LIMITED	Nominee director	17/01/2014	01/11/2013	-	Active	NO
10	U85100DL2013PLC262225	ROCKLAND HEALTHCARE LIMITED	Nominee director	16/12/2013	16/12/2013	-	Active	NO
11	U85100DL2013PTC262322	Rockland Diagnostics Services Private Limited	Director	17/12/2013	17/12/2013	-	Active	NO
12	U85100DL2014PLC264322	ROCKLAND G P NETWORK LIMITED	Nominee director	01/02/2014	01/02/2014	-	Active	NO
13	U85100DL2014PLC264404	ROCKLAND HOSPITAL SERVICES LIMITED	Nominee director	04/02/2014	04/02/2014	-	Active	NO

Name :

Rishi Kumar Srivastava

Designation :

Managing Director

Address :

B-31, Somi Nagar, New Delhi – 110017, India

Date of Birth/Age :

05.04.1968

Date of Appointment :

01.04.2009

DIN No.:

00524588

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	U74899DL1993PTC053645	SOMYA CONSTRUCTIONS PRIVATE LIMITED	Director	19/05/1993	19/05/1993	02/01/2009	Active	NO
2	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Director	16/08/2004	16/08/2004	-	Active	NO
3	U55101DL2005PLC143881	ROCKLAND HOTELS LIMITED	Managing director	01/04/2009	21/12/2005	-	Active	NO
4	U80222DL2005PTC144157	ROCKLAND INSTITUTE OF RESEARCH AND EDUCATION PRIVATE LIMITED	Director	28/12/2005	28/12/2005	-	Active	NO
5	U85110DL2007PTC158985	ROCKLAND LABORATORIES PRIVATE LIMITED	Director	08/02/2007	08/02/2007	-	Active	NO
6	U32204DL2006PTC157069	ROCKLAND MEDIA AND COMMUNICATION PRIVATE LIMITED	Director	30/01/2008	30/01/2008	16/05/2011	Active	NO
7	U45200DL2008PTC174937	ROCK LAND Private Limited	Director	05/03/2008	05/03/2008	-	Active	NO
8	U11100DL2013PTC253150	ROCKLAND OIL & GAS PRIVATE LIMITED	Director	30/05/2013	30/05/2013	-	Active	NO
9	U51397DL2013PTC256807	ROCKLAND PHARMACY PRIVATE LIMITED	Director	22/08/2013	22/08/2013	-	Active	NO
10	U85100DL2013PTC260688	GRACIA HEALTHCARE FOR YOU PRIVATE LIMITED	Director	23/11/2013	23/11/2013	-	Active	NO
11	U85100DL2013PLC262225	ROCKLAND HEALTHCARE LIMITED	Nominee director	16/12/2013	16/12/2013	-	Active	NO
12	U85100DL2013PTC262322	Rockland Diagnostics Services Private Limited	Director	17/12/2013	17/12/2013	-	Active	NO
13	U85100DL2014PLC264322	ROCKLAND G P NETWORK LIMITED	Nominee director	01/02/2014	01/02/2014	-	Active	NO
14	U85100DL2014PLC264404	ROCKLAND HOSPITAL SERVICES LIMITED	Nominee director	04/02/2014	04/02/2014	-	Active	NO

Name :

Aditya Kumar Bhandari

Designation :

Director

Address :

B-404, 1^st Floor, CR Park, New Delhi, India

Date of Birth/Age :

22.02.1961

Date of Appointment :

30.09.2013

DIN No.:

00524632

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	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Whole-time director	01/03/2013	04/08/2004	-	Active	NO
2	U24232DL2004PTC129207	ADITYA MEDICOS PRIVATE LIMITED	Director	17/09/2004	17/09/2004	-	Active	NO
3	U67120WB1996PLC135493	LIPI FINSTOCK LIMITED	Director	01/06/2010	01/06/2010	-	Active	NO
4	U67190DL2010PTC199898	AADARSH FINMAN ADVISORS PRIVATE LIMITED	Director	29/09/2012	17/01/2012	-	Active	NO
5	U55101DL2005PLC143881	ROCKLAND HOTELS LIMITED	Director	30/09/2013	01/04/2013	-	Active	NO
6	U11100DL2013PTC253150	ROCKLAND OIL & GAS PRIVATE LIMITED	Director	30/05/2013	30/05/2013	-	Active	NO
7	U85100DL2013PTC259809	ROCKLAND HOSPITALS NOIDA PRIVATE LIMITED	Nominee director	17/01/2014	01/11/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2014

Names of Shareholders		No. of Shares
Rajesh Kumar Srivastava		749046
Rishi Kumar Srivastava		797992
Prabhat Kumar Srivastava		823852
Aditya Bhandari		16600
Chanchal Bhandari		13000
Mala Srivastava		11800
Sushmita Srivastava		14000
Pankaj Gupta		25800
Aesthetica Enterprises Private Limited, India		157000
Akhil Meditech Private Limited		136800
Glory Lifesciences Private Limited		204000
Himanshu Medicare Private Limited		73800
Kunal Medicare Private Limited		465600
Paradise Realtech Private Limited, India		136000
Hitesh Constructions Private Limited, India		157400
Regal Builders Private Limited, India		21400
Umesh Pharmaceuticals Private Limited		68000
Avee Medi Surgicals Private Limited, India		180000
Radhika Surgicals Private Limited, India		188600
Aditya Medicos Private Limited		28000
Sunskriti Tradex Private Limited		362000
Vaibhav India Surgicals Private Limited		50000
Lipi Finstock Limited		452200
Sukumar Enterprises Private Limited		150000
Purendu Traders Private Limited		57000
Ashwin Pharmaceuticals Private Limited		18000

Total		5357890

AS ON 26.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	53.47
Directors or relatives of Directors	46.07
Other top fifty shareholders	0.49
Total	100.00

BUSINESS DETAILS

Line of Business :	The company is engaged in business of Hotel Sector

Products :	Not Available

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Not Available

Purchasing :	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 :

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 :

Information declined by the management.

Bankers :

Small Industries Development Bank of India, Ground Floor, Videocon Tower, Jhandewalan Extension, E-1, Rani Jhansi Road, New Delhi – 110055, India

Facilities :

SECURED LOANS	31.03.2012 (Rs. in Million)	31.03.2011 (Rs. in Million)
LONG TERM BORROWINGS
Rupee term loan from banks	19.378	41.892
Total	19.378	41.892


Auditors :
Name :	Agarwal Mahajan and Associates Chartered Accountants
Address :	7, LGE, Shreshta Vihar, Delh, India
PAN No.:	AAIFA3283F

Memberships :	Not Available

Collaborators :	Not Available

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Rockland Hospitals Limited (CIN No.: U85110DL2004PLC128077)

CAPITAL STRUCTURE

AS ON 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs. 10/- each	Rs. 60.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5357890	Equity Shares	Rs. 10/- each	Rs. 53.579 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	53.579	51.721	46.861
(b) Reserves & Surplus	627.079	627.139	625.374
(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)	680.658	678.860	672.235

(3) Non-Current Liabilities
(a) long-term borrowings	24.678	41.892	62.760
(b) Deferred tax liabilities (Net)	7.935	10.707	9.716
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.039	1.195	0.000
Total Non-current Liabilities (3)	33.652	53.794	72.476

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	1.892	0.452	1.626
(c) Other current liabilities	33.001	25.144	19.203
(d) Short-term provisions	0.026	0.000	0.000
Total Current Liabilities (4)	34.919	25.596	20.829

TOTAL	749.229	758.250	765.540

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	583.130	591.211	599.726
(ii) Intangible Assets	135.248	135.199	135.227
(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	23.784	23.700	23.700
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.542	0.542	0.518
(e) Other Non-current assets	0.000	0.038	0.057
Total Non-Current Assets	742.704	750.690	759.228

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.687	1.077	0.365
(c) Trade receivables	3.512	3.531	3.136
(d) Cash and cash equivalents	0.347	1.436	1.428
(e) Short-term loans and advances	0.125	1.270	0.965
(f) Other current assets	1.854	0.246	0.418
Total Current Assets	6.525	7.560	6.312

TOTAL	749.229	758.250	765.540

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	56.017	43.782	59.256
		Other Income	0.156	0.730	1.211
		TOTAL (A)	56.173	44.512	60.467

Less	EXPENSES
		Purchases of Stock-in-Trade	4.848	3.980	6.764
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.390	(0.712)	0.330
		Employees benefits expense	18.271	16.922	16.875
		Other expenses	26.452	22.327	23.583
		TOTAL (B)	49.961	42.517	47.552

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.212	1.995	12.915

Less	FINANCIAL EXPENSES (D)		7.107	9.913	12.721

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.895)	(7.918)	0.194

Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.318	7.270	7.248

Less/ Add	EXCEPTIONAL ITEMS		(0.759)	(0.204)	0.000

	PROFIT/ (LOSS) BEFORE TAX		(8.972)	(15.392)	(7.054)

Less	TAX		(2.773)	0.991	1.575

	PROFIT/ (LOSS) AFTER TAX		(6.199)	(16.383)	(8.629)

	Earnings / (Loss) Per Share (Rs.)		(1.17)	(3.34)	(2.06)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012

Net Profit Margin PAT / Sales	(%)	(16.02)	(35.16)	(14.56)

Operating Profit Margin (PBDIT/Sales)	(%)	(11.09)	(4.56)	(21.79)

Return on Total Assets (PBT/Total Assets}	(%)	(1.24)	(2.10)	(0.95)

Return on Investment (ROI) (PBT/Networth)		(0.01)	(0.02)	(0.01)

Debt Equity Ratio (Total Debts/Networth)		0.04	0.06	0.09

Current Ratio (Current Asset/Current Liability)		0.19	0.30	0.30

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	46.861	51.721	53.579
Reserves & Surplus	625.374	627.139	627.079
Net worth	672.235	678.860	680.658

long-term borrowings	62.760	41.892	24.678
Short term borrowings	0.000	0.000	0.000
Total borrowings	62.760	41.892	24.678
Debt/Equity ratio	0.093	0.062	0.036

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	59.256	43.782	56.017
		(26.114)	27.945

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	59.256	43.782	56.017
Profit	(8.629)	(16.383)	(6.199)
	(14.56%)	(37.42%)	(11.07%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-------
22]	Litigations that the firm / promoter involved in	-------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-------
26]	Buyer visit details	-------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

OPERATIONS

During the year, the total income of the Company increased to Rs. 56.172 million in the year ending 31st March 2014 compared to Rs. 44.512 million achieved in previous year.

During the year the Company has incurred a Loss of Rs. 6.199 million as compared to loss of Rs. 16.383 million in previous year.

The Company is making continuous efforts to improvise upon the deficiencies of past and economies in the operational cost by putting efficient cost control systems in process.

INDEX OF CHARGES

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

10453550

08/10/2013

100,000,000.00

Small Industries Development Bank of India

GROUND FLOOR, VIDEOCON TOWER, JHANDEWALAN EXTENSION, E-1, RANI JHANSI ROAD, NEW DELHI,

Delhi - 110055,

INDIA

B86872488

10168492

16/04/2008

70,000,000.00

DENA BANK

35, 36, AGARWAL BHAWAN, NEHRU PLACE, NEW DELHI,
Delhi - 110019,

INDIA

A61018446

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Term loan	5.300	0.000
Total	5.300	0.000

FIXED ASSETS

Land
Buildings
Plant and Equipments
Furniture and Fixture
Vehicles
Office 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. 61.85
UK Pound	1	Rs. 94.96
Euro	1	Rs. 69.09

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	DIV

Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	5
--CREDIT LINES	1~10	3
--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		29

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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