MIRA INFORM REPORT

Report No. :	311830
Report Date :	16.03.2015

IDENTIFICATION DETAILS

Name :	KURLON ENTERPRISE LIMITED
Registered Office :	1002/1006, The Avenue, International Airport Road, Opposite Hotel Leela, Andheri (East), Mumbai – 400059, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.10.2011
Com. Reg. No.:	11-222657
Capital Investment / Paid-up Capital :	Rs. 49.000 Million
CIN No.: [Company Identification No.]	U36101MH2011PLC222657
TAN No.: [Tax Deduction & Collection Account No.]	MUMK21623A
PAN No.: [Permanent Account No.]	AAECK5045N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Mattress, Pillows, Sofa Set.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 100000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even Though the company was incorporated on 03^rd October 2011, it has recently commence its business operations. It is having moderate track record. A claimed by Mr. Gurunath Rao, Finance Manager that the subject company has purchase the business division of KURLON LIMITED (Holding Company) and started it business operations from 29^th March 2014. However, trade relations are improving. Business is active. Payments are reported to be unknown. The company can be considering for business dealing with great 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	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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2014.

INFORMATION PARTED BY (PARTIAL DETAILS)

Name :	Mr. Gurunath Rao
Designation :	Finance Manager
Contact No.:	91-80-40313131
Date :	13.03.2014

LOCATIONS

Registered Office :	1002/1006, The Avenue, International Airport Road, Opposite Hotel Leela, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-28265686/88/89
Fax No.:	Not Available
E-Mail :	Tvpai13@yahoo.com sunanda@kurlon.org
Website:	www.kurlon.com
Corporate Office:	III Floor, North Block, Manipal Centre, 47, Diciken Road, Bangalore – 560042, Karnataka, India
Tel. No.:	91-80-40313131/25587132/168/235
Fax No.:	91-80-25587189

DIRECTORS

As on 16.08.2014

Name :

S Anathannarayan

Designation :

Director

Address :

B 1 Casa Lavelle – 5, 12/8 Lavelle Road, Bangalore – 560001, Karnataka

Date of Birth/Age :

22.06.1935

Date of Appointment :

03.10.2011

DIN No.:

00025505

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	U31109KA1989PTC010074	DHRUVA ENERGY SYSTEMS PRIVATE LIMITED	Director	26/09/01	26/09/01	26/12/07	Strike off	NO
2	U17214KA1962PLC001443	KURLON LIMITED	Director	16/06/06	16/06/06	-	Active	NO
3	U36101MH2011PLC222657	KURLON ENTERPRISE LIMITED	Director	03/10/11	03/10/11	-	Active	NO
4	U36104KA2012PTC065664	KURLON MATTRESS PRIVATE LIMITED	Director	31/08/12	31/08/12	-	Active	NO

Name :

Tonse Sudhakar Pai

Designation :

Managing Director

Address :

No. 5 Chitrakala Ananthannagar, Manipal, Udupi – 576119, Karnataka

Date of Birth/Age :

26.04.1953

Date of Appointment :

26.03.2014

DIN No.:

00043298

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	U67120KA1940PLC001103	GENERAL INVESTMENT AND COMMERCIAL CORPORATION LIMITED	Director	30/08/89	30/08/89	-	Active	NO
2	U65993KA1994PTC015958	MANIPAL HOLDINGS PRIVATE LIMITED	Director	21/07/94	21/07/94	-	Active	NO
3	U72900KA1996PLC020194	MANIPAL ECOMMERCE LIMITED	Director	02/04/96	02/04/96	-	Amalgamated	NO
4	U99999KA1946PLC001072	CCI LIMITED	Director	09/06/97	09/06/97	-	Active	NO
5	U85110KA1998PLC023549	MANIPAL GOLD CO LIMITED	Director	27/03/98	27/03/98	10/06/07	Active	NO
6	U65992KA1999PTC024795	MANIPAL CHIT FUND PRIVATE LIMITED	Director	22/02/99	22/02/99	09/06/07	Active	NO
7	U99999MH1997PTC111438	JITENDRA HARJIVANDAS SECURITIES PRIVATE LIMITED	Director	03/01/00	03/01/00	-	Active	NO
8	U52591MH2001PTC132918	PLUTUS LOTTERIES PRIVATE LIMITED	Director	12/10/01	12/10/01	30/04/08	Active	NO
9	U85110KA1994PLC016671	MANIPAL HOME FINANCE LIMITED	Director	25/02/05	25/02/05	-	Active	NO
10	L85110KA1943PLC001177	MAHA RASHTRA APEX CORPORATION LIMITED	Director	10/03/05	10/03/05	25/05/07	Active	NO
11	U74999DL2007PTC163154	MANIPAL ACADEMY OF HEALTH & EDUCATION PRIVATE LIMITED	Director	19/05/07	19/05/07	-	Active	NO
12	U17214KA1962PLC001443	KURLON LIMITED	Managing director	15/07/14	15/06/07	-	Active	NO
13	U20229KA2007PTC043554	KURLON-CESARE FURNITURE PRIVATE LIMITED	Director	26/09/08	18/01/08	-	Amalgamated	NO
14	U51909KA2008PLC048067	KURLON TRADE & INVESTMENT LIMITED	Director	21/10/08	21/10/08	15/07/13	Active	NO
15	U65910KA1984PLC005876	SEA ROCK INVESTMENT LIMITED	Director	25/07/09	25/07/09	-	Active	NO
16	U65910KA1983PLC005749	CHITRAKALA INVESTMENT TRADE AND BUSINESS FINANCE LIMITED	Director	25/07/09	25/07/09	-	Active	NO
17	U85110KA1989PTC010535	MANIPAL BUILDERS & DEVELOPERS PRIVATE LIMITED	Director	25/07/09	25/07/09	-	Active	NO
18	U21014KA1982PTC004659	EFFICIENT MANAGEMENT SERVICES PRIVATE LIMITED	Director	25/07/09	25/07/09	-	Active	NO
19	U74999KA1993PTC014946	JAYAMAHAL TRADE AND INVESTMENTS PRIVATE LIMITED	Director	25/07/09	25/07/09	-	Active	NO
20	U85110KA1946PTC001122	JAIBHARAT MILLS PRIVATE LIMITED	Director	25/07/09	25/07/09	-	Active	NO
21	U67120KA1991PTC012022	ANIL SUNIL TRADE AND INVESTMENT PRIVATE LIMITED	Director	25/07/09	25/07/09	-	Active	NO
22	U65910KA1984PTC005874	RAJMAHAL TRADE AND INVESTMENTS PRIVATE LIMITED	Director	25/07/09	25/07/09	-	Active	NO
23	U70102KA2011ULL056471	MANIPAL INFRASTRUCTURE LIMITED	Director	03/01/11	03/01/11	-	Active	NO
24	U36101MH2011PLC222657	KURLON ENTERPRISE LIMITED	Managing director	26/03/14	03/10/11	-	Active	NO
25	U74900KA2012PTC067200	DEEPA JYOTHI TRADING AND SERVICES PRIVATE LIMITED	Director	12/12/12	12/12/12	-	Active	NO
26	U74120MH2013PLC248465	MANIPAL FOAM LIMITED	Director	23/09/13	23/09/13	-	Active	NO
27	U74999MH2013PLC248733	KURLON BRANDS LIMITED	Director	01/10/13	01/10/13	-	Active	NO

Name :

Pai Sudhakar Jaya

Designation :

Director

Address :

No. 5 Chitrakala Ananthannagar, Manipal, Udupi – 576119, Karnataka

Date of Birth/Age :

23.08.1958

Date of Appointment :

24.09.2013

DIN No.:

00030515

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	U65993KA1994PTC015958	MANIPAL HOLDINGS PRIVATE LIMITED	Director	31/07/01	31/07/01	-	Active	NO
2	U99999MH1997PTC111438	JITENDRA HARJIVANDAS SECURITIES PRIVATE LIMITED	Director	11/01/02	11/01/02	18/08/14	Active	NO
3	U67120KA1995PLC017705	MANIPAL STOCK AND SHARE BROKERS LIMITED	Director	05/11/02	05/11/02	18/08/14	Active	NO
4	U17214KA1962PLC001443	KURLON LIMITED	Director	15/07/14	11/03/05	-	Active	NO
5	U85110KA2006PTC038793	ANAMALLAIS HOSPITALITY PRIVATE LIMITED	Director	20/02/07	20/02/07	08/02/08	Active	YES
6	U51909KA2008PLC048067	KURLON TRADE & INVESTMENT LIMITED	Director	21/10/08	21/10/08	16/08/12	Active	NO
7	U65910KA1983PLC005749	CHITRAKALA INVESTMENT TRADE AND BUSINESS FINANCE LIMITED	Director	25/07/09	25/07/09	11/10/13	Active	NO
8	U85110KA1989PTC010535	MANIPAL BUILDERS & DEVELOPERS PRIVATE LIMITED	Director	25/07/09	25/07/09	11/10/13	Active	NO
9	U74999KA1993PTC014946	JAYAMAHAL TRADE AND INVESTMENTS PRIVATE LIMITED	Director	25/07/09	25/07/09	11/10/13	Active	NO
10	U85110KA1946PTC001122	JAIBHARAT MILLS PRIVATE LIMITED	Director	25/07/09	25/07/09	11/10/13	Active	NO
11	U67120KA1991PTC012022	ANIL SUNIL TRADE AND INVESTMENT PRIVATE LIMITED	Director	25/07/09	25/07/09	11/10/13	Active	NO
12	U65910KA1984PTC005874	RAJMAHAL TRADE AND INVESTMENTS PRIVATE LIMITED	Director	25/07/09	25/07/09	11/10/13	Active	NO
13	U65910KA1984PLC005876	SEA ROCK INVESTMENT LIMITED	Director	25/07/09	25/07/09	11/10/13	Active	NO
14	U21014KA1982PTC004659	EFFICIENT MANAGEMENT SERVICES PRIVATE LIMITED	Director	25/07/09	25/07/09	-	Active	NO
15	U34102KA1994PTC015899	MANJUNATH SUSPENSION PRODUCTS PRIVATE LIMITED	Director	27/07/09	27/07/09	27/08/09	Active	NO
16	U67120KA1940PLC001103	GENERAL INVESTMENT AND COMMERCIAL CORPORATION LIMITED	Director	27/07/09	27/07/09	-	Active	NO
17	U70102KA2011ULL056471	MANIPAL INFRASTRUCTURE LIMITED	Director	03/01/11	03/01/11	-	Active	NO
18	U36101MH2011PLC222657	KURLON ENTERPRISE LIMITED	Director	24/09/13	03/10/11	-	Active	NO
19	U36104KA2012PTC065664	KURLON MATTRESS PRIVATE LIMITED	Director	31/08/12	31/08/12	-	Active	NO
20	U74900KA2012PTC067200	DEEPA JYOTHI TRADING AND SERVICES PRIVATE LIMITED	Director	12/12/12	12/12/12	-	Active	NO
21	U74120MH2013PLC248465	MANIPAL FOAM LIMITED	Director	23/09/13	23/09/13	-	Active	NO
22	U74999MH2013PLC248733	KURLON BRANDS LIMITED	Director	01/10/13	01/10/13	-	Active	NO

Name :

Mr. Nitin Gajanan Rao Khot

Designation :

Director

Address :

BC 27 Fort, Belgaum – 590016, Karnataka

Date of Birth/Age :

10.09.1948

Date of Appointment :

24.09.2013

DIN No.:

00030613

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	U17214KA1962PLC001443	KURLON LIMITED	Director	22/10/94	22/10/94	-	Active	NO
2	U36101MH2011PLC222657	KURLON ENTERPRISE LIMITED	Director	24/09/13	03/10/11	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 16.08.2014

Names of Shareholders	No. of Shares
Jaya Sudhakar Pai	100
Nitin Gajanan Rao Khot	100
Khushroo Engineer	100
Srinivas Uloor	100
K Harish Pai	100
Gurunath Rao Bheemrao	100
Kurion Limited, India	4899400
Total	4900000

As on 03.11.2014

Names of Allotteees	No. of Shares
Kurion Limited, India	4500000
Total	4500000

Equity Share Break up (Percentage of Total Equity)

As on 16.08.2014

Category	Percentage
Bodies corporate	99.98
Directors or relatives of Directors	0.01
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Mattress, Pillows, Sofa Set.
Products :	Mattress Pillows Sofa Set
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :

Not Divulged

Bankers :

Bank Name	IDBI Bank Limited
Branch	Specialised Corporate Branch, No 102, Shakthi Com fort Towers, K H Road, Bangalore - 560027, 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 :	Vasudev Pai and Company Chartered Accountants
Address :	S-401, South Block, Manipal Centre 47, Dickenson Road, Bangalore – 560042, Karnataka-KA, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAPPP7612L
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Kurlon Limited [U17214KA1962PLC001443]
Associate Company:	Manipal Holding Private Limited

CAPITAL STRUCTURE

As on 16.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9400000	Equity Shares	Rs.10/- each	Rs.94.000 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4900000	Equity Shares	Rs.10/- each	Rs.49.000 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	49.000	49.000	49.000
(b) Reserves & Surplus	(5.757)	(3.150)	(0.882)
(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)	43.243	45.850	48.118
(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	23.533	1.000	0.844
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.035	0.024	0.017
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	23.568	1.024	0.861
TOTAL	66.811	46.874	48.979
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.000	0.000	0.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	1.802	0.569	0.469
(e) Short-term loans and advances	65.009	46.305	48.510
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	66.811	46.874	48.979
TOTAL	66.811	46.874	48.979

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	0.000	0.000	0.000
	Other Income	0.047	0.000	0.000
	TOTAL (A)	0.047	0.000	0.000
Less	EXPENSES
	Other expenses	0.734	2.267	0.050
	TOTAL (B)	0.734	2.267	0.050
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	(0.687)	(2.267)	(0.050)
Less	FINANCIAL EXPENSES (D)	1.919	0.000	0.832
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(2.606)	(2.267)	(0.882)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.000	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(2.606)	(2.267)	(0.882)
Less	TAX (I)	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	(2.606)	(2.267)	(0.882)
	Earnings / (Loss) Per Share (Rs.)	(0.53)	(0.46)	(0.18)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(5544.68)	0.00	0.00
Operating Profit Margin (PBIDT/Sales)	(%)	(1461.70)	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(3.90)	(4.84)	(1.80)
Return on Investment (ROI) (PBT/Networth)		(0.06)	(0.05)	(0.02)
Debt Equity Ratio (Total Debt /Networth)		0.54	0.02	0.02
Current Ratio (Current Asset/Current Liability)		2.83	45.78	56.89

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	49.000	49.000	49.000
Reserves & Surplus	(0.882)	(3.150)	(5.757)
Net worth	48.118	45.850	43.243
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.844	1.000	23.533
Total borrowings	0.844	1.000	23.533
Debt/Equity ratio	0.018	0.022	0.544

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 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	No

OPERATIONS

The company has earned into business transfer agreement (BTA) with Kurlon Limited Holding Company to purchase the business division of Kurlon Limited by way of stump sale on 29^th March, 2014.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans and Advances from Others From Associate Company	0.000	1.000
From Holding Company	23.239	0.000
From Director	0.294	0.000
Total	23.533	1.000

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10536453	16/10/2014	1,340,000,000.00	IDBI BANK LIMITED	SPECIALISED CORPORATE BRANCH, NO 102, HAKTHI COMFORT TOWERS, K H ROAD, BENGALURU, KARNATAKA - 560027, INDIA	C36872562

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.62.67
UK Pound	1	Rs.93.16
Euro	1	Rs.66.42

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAR
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	-
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.