MIRA INFORM REPORT

Report No. :	311074
Report Date :	11.03.2015

IDENTIFICATION DETAILS

Name :	AASHIYANA PROMOTERS AND DEVELOPERS PRIVATE LIMITED

Registered Office :	D-16/410, Block-D, Pocket-16, Sector-7, Rohini, New Delhi – 110 085

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	16.05.2007

Com. Reg. No.:	55-163513

Capital Investment / Paid-up Capital :	Rs.125.000 million

CIN No.: [Company Identification No.]	U45400DL2007PTC163513

IEC No.:	Not Available

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

PAN No.: [Permanent Account No.]	AAGCA3211J

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in the business of real estate development and related activities including construction and consultancy services.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 369400

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The rating reflects company’s moderate financial risk profile marked by low profit margin and low reserves level of 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 cautions.

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	CRISIL
Rating	SME-5
Rating Explanation	Below average credit quality.
Date	July, 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.

LOCATIONS

Registered Office :	D-16/410, Block-D, Pocket-16, Sector-7, Rohini, New Delhi – 110 085, India
Tel. No. :	Not Available
Fax No. :	Not Available
E-Mail :	rohitca.rohit@gmail.com cs@newtechgroup.co
Website :	www.newtechshelters.com

Corporate Office :	GH-06A, Techzone-IV, Noida Extension, Greater Noida, Uttar Pradesh, India
Tel. No.:	91-120-3137172

Group Corporate Office :	H-190, Ground Floor, Sec - 63 , Gautam Budha Nagar, Noida – 201 301 Uttar Pradesh, India
Tel. No.:	91-120-4560421/ 422

Site Office :	HRA-11, 1^st A, Surajpur Site-C, Greater Noida, Uttar Pradesh, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Alok Vatsa

Designation :

Director

Address :

C-32, Sector-33, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

02.05.1958

Date of Appointment :

24.08.2012

DIN No. :

00188385

PAN No.:

ABZPV9570C

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	U18101DL2005PTC133703	PITA SHREE GARMENTS PRIVATE LIMITED	Director	09/03/2005	09/03/2005	22/05/2009	Active	NO
2	U45201DL2005PTC142009	MILLENNIUM PROPMART PRIVATE LIMITED	Director	21/10/2005	21/10/2005	25/09/2013	Active	NO
3	U45202DL2009PTC187004	ROSA INFRATECH PRIVATE LIMITED	Director	28/01/2009	28/01/2009	-	Active	NO
4	U45400DL2007PTC163513	AASHIYANA PROMOTERS AND DEVELOPERS PRIVATE LIMITED	Director	24/08/2012	14/01/2012	-	Active	NO
5	U70102DL2011PTC227589	NEWTECH RESIDENCY PRIVATE LIMITED	Director	25/09/2012	01/09/2012	-	Active	NO
6	U70109DL2011PTC229192	NEWTECH DIGIHOMES PRIVATE LIMITED	Director	20/09/2013	09/09/2013	04/09/2014	Active	NO
7	U70109DL2013PTC260383	NEWTECH RESIDENTIA PRIVATE LIMITED	Director	19/11/2013	19/11/2013	-	Active	NO
8	U70109DL2011PTC229241	NEWTECH BUILDTECH PRIVATE LIMITED	Director	07/12/2013	07/12/2013	27/05/2014	Active	NO
9	U70101DL2013PTC262323	NEWTECH LA PALACIA PRIVATE LIMITED	Director	17/12/2013	17/12/2013	-	Active	NO

Name :

Mr. Raushan Prakash

Designation :

Director

Address :

D-16/410, Block-D, Pocket-16, Rohini Sector-7, Delhi – 110 085, Delhi, India

Date of Birth/Age :

03.07.1972

Date of Appointment :

24.08.2012

DIN No. :

01067591

PAN No.:

AHWPP9926B

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	U45201DL2003PTC122459	BULLAND BUILDTECH PRIVATE LIMITED	Director	01/10/2003	01/10/2003	04/03/2008	Active	NO
2	U45201DL2005PLC135928	SOHO LIMITED	Additional director	27/01/2006	27/01/2006	20/05/2008	Active	NO
3	U45201DL2006PTC145745	PARASHAR REALTY PRIVATE LIMITED	Director	01/02/2006	01/02/2006	17/05/2008	Active	NO
4	U45100DL2007PTC170987	SOHO HOUSING PRIVATE LIMITED	Director	03/12/2007	03/12/2007	-	Active	NO
5	U45202DL2009PTC187004	ROSA INFRATECH PRIVATE LIMITED	Director	28/01/2009	28/01/2009	-	Active	NO
6	U70100DL2009PTC189946	GEOTECH PROMOTERS PRIVATE LIMITED	Director	04/05/2009	04/05/2009	-	Active	NO
7	U70101DL2009PTC193186	MORPHEUS PRODEVELOPERS PRIVATE LIMITED	Director	13/08/2009	13/08/2009	-	Active	NO
8	U45400DL2007PTC163513	AASHIYANA PROMOTERS AND DEVELOPERS PRIVATE LIMITED	Director	24/08/2012	14/01/2012	-	Active	NO
9	U70102DL2011PTC227589	NEWTECH RESIDENCY PRIVATE LIMITED	Director	25/09/2012	01/09/2012	-	Active	NO
10	U45400DL2005PTC136862	VYOM INFRASTRUCTURES AND PROJECTS PRIVATE LIMITED	Director	28/09/2013	02/05/2013	-	Active	NO
11	U70109DL2011PTC229192	NEWTECH DIGIHOMES PRIVATE LIMITED	Director	20/09/2013	09/09/2013	04/09/2014	Active	NO
12	U70109DL2013PTC260383	NEWTECH RESIDENTIA PRIVATE LIMITED	Director	19/11/2013	19/11/2013	-	Active	NO
13	U70109DL2011PTC229241	NEWTECH BUILDTECH PRIVATE LIMITED	Director	07/12/2013	07/12/2013	27/05/2014	Active	NO
14	U70101DL2013PTC262323	NEWTECH LA PALACIA PRIVATE LIMITED	Director	17/12/2013	17/12/2013	-	Active	NO

Name :

Mr. Mukesh Kumar Roy

Designation :

Director

Address :

CA 52, Peoplel Co-Operative Colony, Kankarbagh, Patna – 800 020, Bihar, India

Date of Birth/Age :

04.03.1967

Date of Appointment :

24.08.2012

DIN No. :

02175661

PAN No.:

AEHPR6357L

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	U45202DL2003PTC122513	HRC ENGINEERS ESTATE PRIVATE LIMITED	Director	27/11/2003	27/11/2003	31/03/2010	Dormant	NO
2	U51397DL2004PTC125100	AMBIT HEALTH CARE PRIVATE LIMITED	Director	13/03/2004	13/03/2004	-	Active	NO
3	U45201DL2005PTC139264	ANJALI BUILDCON PRIVATE LIMITED	Director	05/08/2005	05/08/2005	-	Active	NO
4	U70200DL2010PTC206165	NEWTECH SHELTERS PRIVATE LIMITED	Director	22/07/2010	22/07/2010	-	Active	NO
5	U70200DL2010PTC208933	LA RESIDENTIA DEVELOPERS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
6	U70102DL2011PTC227589	NEWTECH RESIDENCY PRIVATE LIMITED	Director	17/11/2011	17/11/2011	-	Active	NO
7	U70109DL2011PTC229192	NEWTECH DIGIHOMES PRIVATE LIMITED	Director	23/12/2011	23/12/2011	-	Active	NO
8	U70109DL2011PTC229241	NEWTECH BUILDTECH PRIVATE LIMITED	Director	26/12/2011	26/12/2011	-	Active	NO
9	U45400DL2007PTC163513	AASHIYANA PROMOTERS AND DEVELOPERS PRIVATE LIMITED	Director	24/08/2012	14/01/2012	-	Active	NO
10	U70109DL2006PTC154755	SHRI BALAJI HI-TECH CONSTRUCTIONS PRIVATE LIMITED	Additional director	17/09/2013	17/09/2013	-	Active	NO
11	U70109DL2013PTC260383	NEWTECH RESIDENTIA PRIVATE LIMITED	Director	19/11/2013	19/11/2013	-	Active	NO
12	U70101DL2013PTC262323	NEWTECH LA PALACIA PRIVATE LIMITED	Director	17/12/2013	17/12/2013	-	Active	NO
13	U51909DL2014OPC273775	PRATIK TRADEX OPC PRIVATE LIMITED	Director	04/12/2014	-	-	Active	NO
14	AAB-0588	GARDENIA NEWTECH DEVELOPERS LLP	Designated Partner	09/08/2012	09/08/2012	-	Active	NO

Name :

Mr. Sanjeev Kumar

Designation :

Director

Address :

A-44, 4^th Floor, Gyandeep Apartment, Plot No.8, Mayur Vihar Phase-I, New Delhi – 110 091, India

Date of Birth/Age :

01.01.1974

Date of Appointment :

24.08.2012

DIN No. :

03136323

PAN No.:

ALMPK8651L

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	U45201DL2005PTC139264	ANJALI BUILDCON PRIVATE LIMITED	Director	30/03/2006	30/03/2006	-	Active	NO
2	U70200DL2010PTC206165	NEWTECH SHELTERS PRIVATE LIMITED	Director	22/07/2010	22/07/2010	-	Active	NO
3	U70200DL2010PTC208933	LA RESIDENTIA DEVELOPERS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
4	U70102DL2011PTC227589	NEWTECH RESIDENCY PRIVATE LIMITED	Director	17/11/2011	17/11/2011	-	Active	NO
5	U70109DL2011PTC229192	NEWTECH DIGIHOMES PRIVATE LIMITED	Director	23/12/2011	23/12/2011	-	Active	NO
6	U70109DL2011PTC229241	NEWTECH BUILDTECH PRIVATE LIMITED	Director	26/12/2011	26/12/2011	-	Active	NO
7	U45400DL2007PTC163513	AASHIYANA PROMOTERS AND DEVELOPERS PRIVATE LIMITED	Director	24/08/2012	14/01/2012	-	Active	NO
8	U85110BR2007PTC013008	RAMANAND HEALTH CARE PRIVATE LIMITED	Director	11/07/2012	11/07/2012	-	Active	NO
9	U85110DL2009PTC195903	RAMANAND MAXLIFE INFRASTRUCTURE PRIVATE LIMITED	Additional director	23/11/2012	23/11/2012	-	Active	NO
10	U70109DL2013PTC260383	NEWTECH RESIDENTIA PRIVATE LIMITED	Director	19/11/2013	19/11/2013	-	Active	NO
11	U70101DL2013PTC262323	NEWTECH LA PALACIA PRIVATE LIMITED	Director	17/12/2013	17/12/2013	-	Active	NO
12	AAB-0588	GARDENIA NEWTECH DEVELOPERS LLP	Designated Partner	09/08/2012	09/08/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Saurabh Maheshwari
Designation :	Secretary
Address :	E-12, First Floor, Gali No.4, East Vinod Nagar, Delhi – 110 091, India
Date of Appointment :	06.09.2014
PAN No.:	AFWPM3509B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 13.02.2015

Names of Shareholders	No. of Shares	Percentage of holding
Alok Vatsa	3750000	25.00
Newtech Shelters Private Limited, India	7495000	49.96
Geotech Promoters Private Limited, India	3747500	24.98
Raushan Prakash	2500	0.02
Sanjeev Kumar	2500	0.02
Mukesh Kumar Roy	2500	0.02
Total	15000000	100.00

AS ON 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	74.85
Directors or relatives of Directors	25.15
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of real estate development and related activities including construction and consultancy services.

Products/ Services :	Real Estate Development Construction and Consultancy Services

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :	Not Available

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

Banker Name	Bank of Maharashtra
Branch Address	Sector-62, Noida - 201301, Uttar Pradesh, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Rupee term loans from banks	375.000	175.000
Total	375.000	175.000

Banking Relations :	--

Auditors :
Name :	Dokania S. Kumar and Company Chartered Accountants
Address :	598/2, Sarat Chatterjee Road, Shibpur, Howrah, West Bengal, India
PAN No.:	AADFD7955N

Memberships :	Not Available

Collaborators :	Not Available

Entities in which Key Management Personnel have control or significant influence :	Geotech Promoters Private Limited, India (CIN No.: U70100DL2009PTC189946) Newtech Shelter Private Limited, India (CIN No.: U70200DL2010PTC206165) Millennium Garments Vineet Kumar and Raushan Prakash, India (Partnership Firm) Anjali Buildcon Private Limited, India (CIN No.: U45201DL2005PTC139264)

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
12500000	Equity Shares	Rs.10/- each	Rs.125.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12500000	Equity Shares	Rs.10/- each	Rs.125.000 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	125.000	50.100	0.100
(b) Reserves & Surplus	4.284	0.868	0.000
(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)	129.284	50.968	0.100

(3) Non-Current Liabilities
(a) Long-term borrowings	375.000	175.000	87.143
(b) Deferred tax liabilities (Net)	0.093	0.015	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)	375.093	175.015	87.143

(4) Current Liabilities
(a) Short term borrowings	142.334	102.335	36.660
(b) Trade payables	15.226	12.879	10.452
(c) Other current liabilities	74.350	423.045	13.086
(d) Short-term provisions	1.932	0.418	0.000
Total Current Liabilities (4)	233.842	538.677	60.198

TOTAL	738.219	764.660	147.441

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.048	2.333	0.711
(ii) Intangible Assets	0.022	0.033	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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.300	0.080	0.074
(e) Other Non-current assets	0.064	0.128	0.191
Total Non-Current Assets	5.434	2.574	0.976

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	43.134	587.505	139.862
(c) Trade receivables	582.919	0.000	0.000
(d) Cash and cash equivalents	17.038	79.298	5.718
(e) Short-term loans and advances	89.694	95.283	0.885
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	732.785	762.086	146.465

TOTAL	738.219	764.660	147.441

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
	SALES
		Income	1345.048
		Other Income
		TOTAL	1345.048

Less	EXPENSES
		TOTAL	1282.207

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		62.841

Less	FINANCIAL EXPENSES		56.781

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		6.060

Less/ Add	DEPRECIATION/ AMORTISATION		1.068

	PROFIT/ (LOSS) BEFORE TAX		4.992

Less	TAX		1.576

	PROFIT/ (LOSS) AFTER TAX		3.416

	Earnings / (Loss) Per Share (Rs.)		0.34

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	0.68	NA	NA

Return on Investment (ROI) (PBT/Networth)		0.04	NA	NA

Debt Equity Ratio (Total Debt/Networth)		4.00	5.44	1238.03

Current Ratio (Current Asset/Current Liability)		3.13	1.41	2.43

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Share Capital	0.100	50.100	125.000
Reserves & Surplus	0.000	0.868	4.284
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.100	50.968	129.284

Long Term borrowings	87.143	175.000	375.000
Short Term borrowings	36.660	102.335	142.334
Total borrowings	123.803	277.335	517.334
Debt/Equity ratio	1238.030	5.441	4.002

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 one year	Yes
12]	Profitability for last one year	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

COMPANY OVERVIEW

Subject is incorporated in the year 2007 and is a leading real estate developer in India. The Company’s main line of business is real estate development and related activities including construction and consultancy services.

PERFORMANCE OF THE COMPANY

The company continues to consolidate its hold in the high end processes. The revenue from operation has been recognized in 13-14, as construction cost incurred thereon to total estimated construction cost subject to such actual cost incurred being more than 25% of the total construction cost. The company has reported profit after tax of Rs.3.416 million. This is primarily because of income from operating revenue and other sources. No dividend has been recommended by the Directors.

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Loans repayable on demand from others	142.334	102.335
Total	142.334	102.335

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10413034	06/02/2013	500,000,000.00	BANK OF MAHARASHTRA	SECTOR-62, NOIDA, UTTAR PRADESH - 201301, INDIA	B71202022

FIXED ASSETS:

Tangible Assets

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

Intangible Assets

· Computer Software

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.62.70
UK Pound	1	Rs.94.55
Euro	1	Rs.67.66

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
-- PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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		28

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.

MIRA INFORM REPORT

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