MIRA INFORM REPORT

Report No. :	314205
Report Date :	27.03.2015

IDENTIFICATION DETAILS

Name :	KANNU ADITYA (INDIA) LIMITED
Registered Office :	A-23, Lawrance Road Industrial Area, New Delhi - 110035
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.03.1999
Com. Reg. No.:	55-098882
Capital Investment / Paid-up Capital :	Rs. 78.227 Million
CIN No.: [Company Identification No.]	U74899DL1999PLC098882
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCK5230C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Exporter and Processor of all varieties of Rice, Spices, Wheat, Gram and Other Grains and Cereals, etc.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 5600000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Financial Position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

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	CRISIL
Rating	Long term rating : BBB+
Rating Explanation	Have moderate degree of safety and carry moderate credit risk
Date	01.10.2014

Rating Agency Name	CRISIL
Rating	Short term rating : A2
Rating Explanation	Have strong degree of safety and carry low credit risk
Date	01.10.2014

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 PARTED BY

Name :	Not Divulged
Designation :	Accountant Manager
Date :	25.03.2015

LOCATIONS

Registered Office :	A-23, Lawrance Road Industrial Area, New Delhi – 110035, India
Tel. No.:	91-11-42787700 / 27180761 / 45650588
Fax No.:	91-45650599
E-Mail :	info@kannuaditya.com lalmahal@lalmahal.com
Website :	http://www.lalmahal.in
Location :	Owned
Administrative Office :	B-6, 1^st Floor, Bhagwan Dass Nagar, New Delhi – 110026, India
Tel. No.:	91-11-45650588
Fax No.:	91-11-45650599
E-Mail :	info@kannuaditya.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Har Narain Aggarwal

Designation :

Chairman cum Managing director

Address :

A-8, Bhagwan Dass Nagar, New Delhi – 110026, India

Date of Birth/Age :

05.05.1940

Qualification :

Matriculate

Date of Appointment :

01.07.2014

DIN No.:

00335481

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	U74899DL1994PLC061999	SHRILAL MAHAL OVERSEAS LIMITED	Director	07-10-1994	07-10-1994	-	Active	NO
2	U74999DL1997PLC087205	SHRI LAL MAHAL LIMITED	Director	12-05-1997	12-05-1997	-	Active	NO
3	U70101DL1999PTC098548	S H ESTATES PRIVATE LIMITED	Director	23-02-1999	23-02-1999	-	Active	NO
4	U51909DL1999PTC098874	POLARIS OVERSEAS PRIVATE LIMITED	Director	17-03-1999	17-03-1999	06-01-2009	Active	NO
5	U74899DL1999PLC098882	KANNU ADITYA (INDIA) LIMITED	Managing director	01-07-2014	17-03-1999	-	Active	NO
6	U73100DL1999PTC100231	COSMO SURVEILLANCE SERVICES PRIVATE LIMITED	Director	14-06-1999	14-06-1999	-	Active	NO
7	U74899DL1965PTC004489	BHAGAT CONSTRUCTION COMPANY PRIVATE LIMITED	Director	30-09-2014	01-04-2000	-	Active	NO
8	U15122DL2007PTC159484	SAHIL FOODS & CONFECTIONERY PRIVATE LIMITED	Director	26-02-2007	26-02-2007	25-03-2010	Active	NO
9	U52100DL2008PLC172940	LAL MAHAL RETAIL LIMITED	Director	21-01-2008	21-01-2008	-	Active	NO
10	U74899DL1982PTC014273	SHIV NATHRAI HAR NARAYAN PVT LTD	Additional director	30-10-2008	30-10-2008	-	Active	NO
11	U45200DL2006PTC156378	SHRI LAL MAHAL SEZ PRIVATE LIMITED	Director	30-09-2014	30-01-2014	-	Active	NO
12	U10100DL2008PTC184131	LM MACRON MINE AND MINERALS PRIVATE LIMITED	Director	30-09-2014	30-01-2014	-	Active	NO
13	U51101DL2007PTC158935	ISHA DEVASHISH EXPORTS PRIVATE LIMITED	Director	30-09-2014	30-01-2014	-	Active	NO
14	U45200DL2006PTC156095	SHRI LAL MAHAL INFRASTRUCTURE PRIVATE LIMITED	Director	30-09-2014	30-01-2014	-	Active	NO
15	U11100DL2009PTC188439	STRIDE PETROLEUM PRIVATE LIMITED	Director	30-09-2014	30-01-2014	-	Active	NO
16	U01549DL2006PTC156118	SHRI LAL MAHAL AGRO PRODUCTS PRIVATE LIMITED	Director	30-09-2014	30-01-2014	-	Active	NO
17	U65929DL2010PTC203383	SHIVNATH HOLDINGS PRIVATE LIMITED	Director	04-08-2014	04-08-2014	-	Active	NO

Name :

Mr. Sushil Kumar Valecha

Designation :

Additional director

Address :

8-D, Vikrant Appartment, Sector-13, Rohini, New Delhi – 110085, India

Date of Birth/Age :

05.02.1949

Qualification :

MSC, LLB, CAIIB

Date of Appointment :

29.09.2012

DIN No.:

01159350

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	U74999DL1997PLC087205	SHRI LAL MAHAL LIMITED	Director	02-08-2005	02-08-2005	-	Active	NO
2	U01549DL2006PTC156118	SHRI LAL MAHAL AGRO PRODUCTS PRIVATE LIMITED	Director	01-12-2006	01-12-2006	30-01-2014	Active	NO
3	U45200DL2006PTC156095	SHRI LAL MAHAL INFRASTRUCTURE PRIVATE LIMITED	Director	01-12-2006	01-12-2006	30-01-2014	Active	NO
4	U45200DL2006PTC156378	SHRI LAL MAHAL SEZ PRIVATE LIMITED	Director	08-12-2006	08-12-2006	30-01-2014	Active	NO
5	U10100DL2008PTC184131	LM MACRON MINE AND MINERALS PRIVATE LIMITED	Director	10-10-2008	10-10-2008	30-01-2014	Active	NO
6	U74899DL1999PLC098882	KANNU ADITYA (INDIA) LIMITED	Director	29-09-2012	15-10-2008	-	Active	NO
7	U11100DL2009PTC188439	STRIDE PETROLEUM PRIVATE LIMITED	Director	16-03-2009	16-03-2009	30-01-2014	Active	NO
8	U74899DL1965PTC004489	BHAGAT CONSTRUCTION COMPANY PRIVATE LIMITED	Director	25-09-2009	25-03-2009	30-01-2014	Active	NO
9	U51101DL2007PTC158935	ISHA DEVASHISH EXPORTS PRIVATE LIMITED	Additional director	11-01-2010	11-01-2010	30-01-2014	Active	NO

Name :

Ms. Anita Garg

Designation :

Director

Address :

A-8, Bhagwan Dass Nagar, New Delhi-26.

Date of Birth/Age :

16.07.1964

Date of Appointment :

05.07.2014

DIN No.:

00335662

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	U74899DL1965PTC004489	BHAGAT CONSTRUCTION COMPANY PRIVATE LIMITED	Director	01-04-2000	01-04-2000	25-03-2009	Active	NO
2	U74899DL1982PTC014273	SHIV NATHRAI HAR NARAYAN PVT LTD	Director	12-06-2000	12-06-2000	09-10-2009	Active	NO
3	U74999DL1997PLC087205	SHRI LAL MAHAL LIMITED	Managing director	01-07-2014	02-08-2005	-	Active	NO
4	U74899DL1999PLC098882	KANNU ADITYA (INDIA) LIMITED	Director	05-07-2014	01-08-2006	-	Active	NO
5	U51909DL1999PTC098874	POLARIS OVERSEAS PRIVATE LIMITED	Director	01-08-2006	01-08-2006	18-11-2008	Active	NO
6	U74899DL1994PLC061999	SHRILAL MAHAL OVERSEAS LIMITED	Director	15-11-2006	15-11-2006	-	Active	NO
7	U45200DL2006PTC156095	SHRI LAL MAHAL INFRASTRUCTURE PRIVATE LIMITED	Director	01-12-2006	01-12-2006	-	Active	NO
8	U01549DL2006PTC156118	SHRI LAL MAHAL AGRO PRODUCTS PRIVATE LIMITED	Director	01-12-2006	01-12-2006	-	Active	NO
9	U45200DL2006PTC156378	SHRI LAL MAHAL SEZ PRIVATE LIMITED	Director	08-12-2006	08-12-2006	-	Active	NO
10	U51101DL2007PTC158935	ISHA DEVASHISH EXPORTS PRIVATE LIMITED	Director	07-02-2007	07-02-2007	30-10-2008	Active	NO
11	U52100DL2008PLC172940	LAL MAHAL RETAIL LIMITED	Director	21-01-2008	21-01-2008	-	Active	NO
12	U72900DL2005PTC139572	KANNU INFOTECH PRIVATE LIMITED	Additional director	12-01-2010	12-01-2010	-	Active	NO
13	U63040DL2006PTC144735	PANDA TRAVEL PRIVATE LIMITED	Additional director	12-01-2010	12-01-2010	-	Active	NO
14	U73100DL1999PTC100231	COSMO SURVEILLANCE SERVICES PRIVATE LIMITED	Additional director	12-01-2010	12-01-2010	-	Active	NO
15	U72200DL2005PTC139391	KRISHAN INFOTECH PRIVATE LIMITED	Additional director	12-01-2010	12-01-2010	-	Active	NO
16	U70101DL1999PTC098548	S H ESTATES PRIVATE LIMITED	Additional director	12-01-2010	12-01-2010	-	Active	NO

Name :

Ms. Devasish Garg

Designation :

Director

Address :

A-8, Bhagwan Dass Nagar, New Delhi-26, India

Date of Birth/Age :

27.06.1994

Date of Appointment :

05.07.2014

DIN No.:

06818624

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	U74999DL1997PLC087205	SHRI LAL MAHAL LIMITED	Whole-time director	01-12-2014	18-06-2014	-	Active	NO
2	U74899DL1999PLC098882	KANNU ADITYA (INDIA) LIMITED	Director	05-07-2014	05-07-2014	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Pratima Vashyal
Designation :	Company Secretary
Address :	31 Madan Park, Punjabi, Bagh, New Delhi-26, India
Date of Birth/Age :	30.16.1990
Date of Appointment :	01.01.2014

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Mahavir Prasad Gupta	100
Mulk Raj Sabharwal	100
Hemant Suri	100
Ram Avtar Aggarwal	15100
Raj Bala	100
Harnarain Aggarwal	3974600
Ram Kumar Gupta	100
P.C.GARG (HUF)	20000
Sushil Kumar Valecha	10000
Isha Garg	85000
Triveni Infrastructure Development Company Limited, India	100000
Sidh Housing Development Company Limited, India	100000
Gyaneshwar Trading And Finance Company Limited, India	50000
Cliftons Pearson Export & Agencies Limited, India	50000
Parijat Tie-Up Private Limited, India	50000
Sanyam Merchants Private Limited, India	50000
Kissan Impex Private Limited, India	395000
Bindra Sales Private Limited, India	500000
Fernadale Limited, India	2422510
Total	7822710

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companies(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	30.97
Bodies corporate	16.55
Directors or relatives of Directors	52.15
Other top fifty shareholders	0.33
Total	100.00

BUSINESS DETAILS

Line of Business :

Exporter and Processor of all varieties of Rice, Spices, Wheat, Gram and Other Grains and Cereals, etc.

Products :

Item Code No.	Product Description
10063020	Rice / Paddy

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Products :

• Rice
• Spices
• Wheat, etc.

Countries :

• African Countries
• Middle East

Imports :

Not Divulged

Terms :

Selling :

Cash and credit

Purchasing :

Cash and credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Kisan Impacs Private Limited
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 :

· Wholesalers and Retailers

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 :

100 (Approximately)

Bankers :

· State Bank of Mysore, 4101-4157, Naya Bazar, Delhi - 110006, Delhi, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Working capital loans from banks (These credits are collaterally secured by equitable mortgagee over land and building, properties of promoter directors)	1969.081	1505.579
Total	1969.081	1505.579

Auditors :

Name :

S C Verma and Associates

Chartered Accountants

Address :

A-3, 183, 1^st Floor, Paschim Vihar, New Delhi – 110063, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAJFS7555H

Memberships :

--

Collaborators :

--

Associates :

· Shri Lal Mahal Limited, India (U74999DL1997PLC087205)

· Lal Mahal Retails Limited, India (U52100DL2008PLC172940)

· Gulmarg Ice Factory and Cold Storage

CAPITAL STRUCTURE

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
7822710	Equity Shares	Rs.10/- each	Rs.78.227 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	78.227	69.612	62.141
(b) Reserves & Surplus	824.351	509.857	299.316
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	199.861	15.621
Total Shareholders’ Funds (1) + (2)	902.578	779.330	377.078
(3) Non-Current Liabilities
(a) long-term borrowings	184.208	178.437	153.348
(b) Deferred tax liabilities (Net)	4.036	2.006	1.870
(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)	188.244	180.443	155.218
(4) Current Liabilities
(a) Short term borrowings	1969.081	1505.579	299.357
(b) Trade payables	599.890	596.621	412.241
(c) Other current liabilities	124.759	43.400	37.513
(d) Short-term provisions	56.588	55.408	30.804
Total Current Liabilities (4)	2750.318	2201.008	779.915
TOTAL	3841.140	3160.781	1312.211
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	171.570	172.620	167.559
(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	0.070	0.070	0.070
(e) Other Non-current assets
Total Non-Current Assets	171.640	173.675	167.629
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2395.325	1817.256	521.405
(c) Trade receivables	1035.721	882.951	390.145
(d) Cash and cash equivalents	191.595	224.275	192.760
(e) Short-term loans and advances	46.859	62.624	40.117
(f) Other current assets	0.000	0.000	0.155
Total Current Assets	3669.500	2987.106	1144.582
TOTAL	3841.140	3160.781	1312.211

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	6886.967	6531.966	4572.337
	Other Income	29.618	19.240	72.491
	TOTAL (A)	6916.585	6551.206	4644.828
Less	EXPENSES
	Purchases of Stock-in-Trade	6604.908	7248.576	4645.145
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(578.069)	(1295.850)	(301.236)
	Employees benefits expense	11.657	12.715	3.868
	Other expenses	458.446	215.418	165.139
	TOTAL (B)	6496.942	6180.859	4512.916
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	419.643	370.347	131.912
Less	FINANCIAL EXPENSES (D)	217.900	186.238	48.800
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	201.743	184.109	83.112
Less/ Add	DEPRECIATION/ AMORTISATION (F)	2.962	2.810	2.336
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	198.781	181.299	80.776
Less	TAX (I)	75.533	60.419	27.133
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	123.248	120.880	53.643
	Earnings / (Loss) Per Share (Rs.)	15.76	17.36	8.63

Expected Sales (2014 - 2015) : Rs. 9000.000 Million

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.79	1.85	1.17
Operating Profit Margin (PBIDT/Sales)	(%)	6.09	5.67	2.89
Return on Total Assets (PBT/Total Assets}	(%)	5.18	5.74	6.16
Return on Investment (ROI) (PBT/Networth)		0.22	0.23	0.21
Debt Equity Ratio (Total Debt /Networth)		2.39	2.16	1.20
Current Ratio (Current Asset/Current Liability)		1.33	1.36	1.47

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	62.141	69.612	78.227
Reserves & Surplus	299.316	509.857	824.351
Share Application money pending allotment	15.621	199.861	0.000
Net worth	377.078	779.330	902.578
long-term borrowings	153.348	178.437	184.208
Short term borrowings	299.357	1505.579	1969.081
Total borrowings	452.705	1684.016	2153.289
Debt/Equity ratio	1.201	2.161	2.386

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	4572.337	6531.966	6886.967
		42.858	5.435

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	4572.337	6531.966	6886.967
Profit	53.643	120.880	123.248
	1.17%	1.85%	1.79%

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	Yes
9]	Name of person contacted	No
10]	Designation of contact person	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10361460	04/05/2013 *	2,750,000,000.00	STATE BANK OF MYSORE	4101-4157, NAYA BAZAR, DELHI, Delhi - 110006, INDIA	B75189837

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and advances from related parties	184.208	178.437
Total	184.208	178.437

FIXED ASSETS

• Land
• Buildings
• Plant and Machinery
• Factory building
• Vehicles
• Motor vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No 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.93.26
Euro	1	Rs.68.85

INFORMATION DETAILS

Information Gathered by :	KAM
Analysis Done by :	RAS
Report Prepared by :	RCH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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 unfavorable 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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