MIRA INFORM REPORT

Report No. :	320428
Report Date :	02.05.2015

IDENTIFICATION DETAILS

Name :		NATURON HEALTHCARE LIMITED (w.e.f 02.09.2009)
Formerly Known As :		NATURON HEALTHCARE PRIVATE LIMITED
Registered Office :		Survey No. 233, Village Sheku, Khalapur - 401203, Maharashtra
Tel. No.:	Not Available
Country :		India
Financials (as on) :		31.03.2013
Date of Incorporation :		03.01.2006
Com. Reg. No.:		11-158565
Capital Investment / Paid-up Capital :		Rs. 4.160 Million
CIN No.: [Company Identification No.]		U75122MH2006PLC158565
TAN No.: [Tax Deduction & Collection Account No.]		MUMN18255G
PAN No.: [Permanent Account No.]		AACCN2250J
Legal Form :		A Closely Held Public Limited Liability Company
Line of Business :		Subject Is Manufacturer Of Pharmaceutical And Cosmetic Products.
No. of Employees :		Not Available [We tried to confirm the number of employees but no one is ready to part any information from the company management]

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Management of the company has failed to file its latest financial with the government department for FY2013-14. As per Registered of Companies the date of balance sheet i.e. financials filed is shown as 31^st March, 2013 but the documents related to the financials for the year 2013 is not available from any source. As per available financial of 2012, the company has decent profit margin. However, the company’s external; borrowing seems to be increasing during FY2012. Business is active as per status shown in the registrar of companies. Payment terms are unknown. In the absence of latest financials, subject can be considered for business dealings on safe and secured trade terms and conditions. Note: As per director’s report of 2012, the company has made a loss of Rs. 8.507 Million; whereas the same figure is shown as profit in the FORM 23ACA

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 DENIED BY

Name :	Mr. Amit
Designation :	Account Department
Contact No.:	91-22-61438000
Date :	30.04.2015

LOCATIONS

Registered Office/ Factory:	Survey No. 233, Village Sheku, Khalapur - 401203, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	info@agrongroup.com account@accountgroup.com
Website :	info@naturonworld.com
Corporate Office :	Swarup Arcade, 4^th Floor, 401, Chakala, Above Yes Bank Atm, Andheri, Mumbai, Maharashtra, India
Tel. No.:	91-2261438000

DIRECTORS

As on 30.09.2013

Name :

Mr. Sadanand Pandey

Designation :

Director

Address :

Geet Govind , 3 Palm Spring Society, Opposite Chandan Cinema, Iris Park, Juhu, Mumbai- 400049, Maharashtra, India

Date of Birth/Age :

3.11.1969

Date of Appointment :

01.04.2008

DIN No.:

00401383

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	U51220MH2004PLC144214	AGRON INDIA LIMITED	Managing director	01-04-2013	27-01-2004	-	Active	NO
2	U75122MH2006PLC158565	NATURON HEALTHCARE LIMITED	Director	01-04-2008	03-01-2006	-	Active	NO
3	U63010MH2006PTC160727	AGRON LOGISTICS INDIA PRIVATE LIMITED	Managing director	24-03-2006	24-03-2006	-	Active	NO
4	U01403MH2007PTC167361	AGRON MASS MEDIA & ADVERTISE PRIVATE LIMITED	Director	01-04-2008	29-01-2007	15-05-2014	Active	NO
5	U01403MH2007PTC169952	AGRON GLOBAL PRIVATE LIMITED	Director	01-04-2008	13-04-2007	15-05-2014	Active	NO
6	U15142PN1999PTC014013	AGRON OIL AND REFINERY PRIVATE LIMITED	Director	21-09-2011	11-01-2008	04-05-2013	Active	NO
7	U15200MH2008PTC183711	AGRON RETAILS PRIVATE LIMITED	Director	19-06-2008	19-06-2008	-	Strike off	NO
8	U45400MH2010PTC203331	AGRON VENTURES PRIVATE LIMITED	Director	18-05-2010	18-05-2010	15-05-2014	Active	NO
9	L10300GJ1994PLC023538	EXOTIC COAL LIMITED	Additional director	04-11-2010	04-11-2010	21-04-2011	Active	NO
10	U01403MH2011NPL213001	NATURONS GREENCROSS FOUNDATION	Director	04-02-2011	04-02-2011	-	Active	NO
11	U74120MH2011PLC223047	AGRON HOLDINGS LIMITED	Director	14-10-2011	14-10-2011	-	Active	NO
12	U74120MH2011PTC224178	AIPEX WORLDWIDE PRIVATE LIMITED	Director	21-11-2011	21-11-2011	-	Active	NO
13	U70101DL1996PLC080840	VANDC VAULTS AND FINANCE LIMITED	Director	14-05-2012	14-05-2012	-	Active	NO

Name :

Mr. Prahlad Pandey

Designation :

Director

Address :

Building No. 6, R. No. 458, 2^nd Floor, Abhyada Nagar, Jai Hanuman Cooperative Housing Society, Kalachowki, Mumbai – 400033, Maharashtra, India

Date of Birth/Age :

23.12.1979

Date of Appointment :

27.08.2011

DIN No.:

02319024

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	U51109MH2009PTC193262	NYKAA NOBEL EXIM PRIVATE LIMITED	Director	12-06-2009	12-06-2009	-	Active	NO
2	U51220MH2004PLC144214	AGRON INDIA LIMITED	Director	09-04-2010	09-04-2010	-	Active	NO
3	U75122MH2006PLC158565	NATURON HEALTHCARE LIMITED	Director	13-12-2010	13-12-2010	-	Active	NO
4	U15142PN1999PTC014013	AGRON OIL AND REFINERY PRIVATE LIMITED	Director	09-07-2011	09-07-2011	04-05-2013	Active	NO
5	U01403MH2007PTC167361	AGRON MASS MEDIA & ADVERTISE PRIVATE LIMITED	Director	16-03-2012	16-03-2012	-	Active	NO

Name :

Mr. Ramkinkar Chandrabhan Pandey

Designation :

Director

Address :

Geet Govind , 3 Palm Spring Society, Opposite Chandan Cinema, Iris Park, Juhu, Andheri (West) Mumbai- 400049, Maharashtra, India

Date of Birth/Age :

1.12.1980

Date of Appointment :

30.09.2013

DIN No.:

06431454

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	U15200MH2008PTC183711	AGRON RETAILS PRIVATE LIMITED	Director	28-09-2013	15-12-2012	-	Strike off	NO
2	U01403MH2007PTC167361	AGRON MASS MEDIA & ADVERTISE PRIVATE LIMITED	Director	15-12-2012	15-12-2012	-	Active	NO
3	U15142PN1999PTC014013	AGRON OIL AND REFINERY PRIVATE LIMITED	Director	30-09-2013	10-01-2013	-	Active	NO
4	U01403MH2007PTC169952	AGRON GLOBAL PRIVATE LIMITED	Director	30-09-2013	10-01-2013	-	Active	NO
5	U75122MH2006PLC158565	NATURON HEALTHCARE LIMITED	Director	30-09-2013	20-07-2013	-	Active	NO
6	U51220MH2004PLC144214	AGRON INDIA LIMITED	Director	25-09-2014	25-09-2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Amit
Designation :	Account Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	%age holding
Sadanand Pandey	2,18,000	52.42
Jaylaxmi Pandey	1,47,600	35.49
Ashok kankani	100	0.02
Prahlad Pandey	20100	4.83
Abdulsattar Abdul Jabbar Dudhniwala	100	0.02
Agron Holdings Limite	30,000	0.00
Ramkinkar Pandey	100	7.21
Total	416000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Bodies corporate	7.21
Directors or relatives of Directors	92.74
Other top fifty shareholders	0.05
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject Is Manufacturer Of Pharmaceutical And Cosmetic Products.
Products/ services :	Graphic and Design Hosting Solutions ‘Internet Marketing Services Mobile Apps Development Multimedia Development Software Development Web Development etc.
Brand Names :	Not Available
Agencies Held :	Not Available
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 Available [We tried to confirm the number of employees but no one is ready to part any information from the company management]

Bankers :

Bank Name	Bank Of Baroda
Branch	Mandvi Branch, Rang Mahal, 212/216, Samuel Street,, Mandvi, Mumbai - 400003, Maharashtra, 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

Facilities :

Secured Loan	31.03.2012 (Rs. in Million)	31.03.2011 (Rs. in Million)
Long-term Borrowings
Secured Loans
Bank of Baroda 04/52
Bank of Baroda – Term Loan	7.200	0.000
Short-term Borrowings
Bank of Baroda CC	50.206	0.000
State Bank of India	0.000	33.161
Total	57.406	33.161

Auditors :
Name :	Dinesh Pai and Company Chartered Accountants
Address :	P. K. Road, Paancharas, Mulund (West), Mumbai, Maharashtra, India
Tel. No.:	91-2561 2890/91/93
Mobile No.:	91-98200 76334
E-Mail :	D_gpail@hotmail.co Dinesh_gpai@yahoo.com
PAN N Income-tax PAN of auditor or auditor's firm :	AEXPP7558K
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
416000	Equity Shares	Rs.10/- each	Rs.4.160 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	4.160	2.160
(b) Reserves & Surplus	13.044	(3.464)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	17.204	(1.304)
(3) Non-Current Liabilities
(a) long-term borrowings	7.200	0.000
(b) Deferred tax liabilities (Net)	4.530	8.815
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	11.730	8.815
(4) Current Liabilities
(a) Short term borrowings	50.206	33.161
(b) Trade payables	69.135	2.143
(c) Other current liabilities	2.598	0.000
(d) Short-term provisions	0.666	0.097
Total Current Liabilities (4)	122.605	35.401
TOTAL	151.539	42.912
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	16.275	11.004
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	1.500	1.500
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	1.046	1.010
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	18.821	13.514
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	9.209	0.934
(c) Trade receivables	59.029	11.746
(d) Cash and cash equivalents	0.721	0.785
(e) Short-term loans and advances	39.820	0.000
(f) Other current assets	23.939	15.933
Total Current Assets	132.718	29.398
TOTAL	151.539	42.912

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.160
2] Share Application Money		0.000
3] Reserves & Surplus		8.300
4] (Accumulated Losses)		(5.216)
NETWORTH		5.244
LOAN FUNDS
1] Secured Loans		22.741
2] Unsecured Loans		4.684
TOTAL BORROWING		27.425
DEFERRED TAX LIABILITIES		0.385
TOTAL		33.054
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12.413
Capital work-in-progress		0.000
INVESTMENT		1.500
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.193
	Sundry Debtors	92.551
	Cash & Bank Balances	0.688
	Other Current Assets	0.000
	Loans & Advances	9.062
Total Current Assets		102.494
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	83.352
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		83.352
Net Current Assets		19.141
MISCELLANEOUS EXPENSES		0.000
TOTAL		33.054

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2012	31.03.2011
	SALES
	Income	92.794	72.481
	Other Income	0.008	0.887
	TOTAL (A)	92.802	73.368
Less	EXPENSES
	Cost of Materials Consumed	74.065	72.681
	Employees benefits expense	1.755	1.265
	Other expenses	2.909	0.848
	Prior Period Expense	0.000	0.024
	TOTAL (B)	78.729	74.818
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	14.073	(1.450)
Less	FINANCIAL EXPENSES (D)	4.304	4.037
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	9.769	(5.487)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	1.262	1.445
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	8.507	(6.932)
Less	TAX (H)	0.000	(0.385)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	8.507	(6.547)
	Earnings / (Loss) Per Share (Rs.)	20.45	(30.31)

	PARTICULARS	31.03.2010
	Income
	Sales	144.757
	Other Income	0.833
	Closing Stock	0.193
	TOTAL	145.783
Less	EXPENDITURE
	Opening Stock	0.000
	Purchases	141.148
	Audit Fees	0.044
	Bank Charges	0.043
	Conveyance Expense	0.038
	Sundry Balances W/off	4.421
	Depreciation	1.524
	Electricity Charges	0.009
	Factory Expenses	0.013
	Rent	0.000
	Lab Testing Charges	0.006
	Legal and Professional Fees	0.034
	Labour Charges	0.023
	Loan Processing Fee	0.264
	Interest on CC	1.207
	Office Expenses	0.018
	Postage and Courier	0.209
	Printing and Stationery Expenses	0.013
	Repair and Maintains	0.107
	Insurance Expense	0.000
	Salary	1.326
	Security Services	0.106
	Staff Welfare Expense	0.015
	Telephone Expense	0.050
	Transport Charges	0.013
	Travelling Expense	0.009
	Miscellaneous Expense	0.004
	TOTAL	150.644
	PROFIT/ (LOSS) BEFORE TAX	(4.862)
Less	TAX	0.385
	PROFIT/ (LOSS) AFTER TAX	(5.246)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PAT / Sales)	(%)	9.17	(9.03)	(0.04)
Operating Profit Margin (PBIDT/Sales)	(%)	15.17	(2.00)	NA
Return on Total Assets (PBT/Total Assets}	(%)	5.67	(16.74)	(0.05)
Return on Investment (ROI) (PBT/Networth)		0.49	5.32	(0.93)
Debt Equity Ratio (Total Debt /Networth)		3.34	(25.43)	5.23
Current Ratio (Current Asset/Current Liability)		1.08	0.83	1.23

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	2.160	2.160	4.160
Reserves & Surplus	8.300	-3.464	13.044
Net worth	10.460	-1.304	17.204
long-term borrowings	22.741	0.000	7.200
Short term borrowings	4.684	33.161	50.206
Total borrowings	27.425	33.161	57.406
Debt/Equity ratio	2.622	-25.430	3.337

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	144.757	72.481	92.794
		(49.929)	28.025

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	144.757	72.481	92.794
Profit	0.000	(6.547)	8.507
	0.00%	(9.03%)	9.17%

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	Yes
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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
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	No
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

REVIEW OF PERFORMANCE:

During the period the Company has made a loss after Tax of Rs. 8.507 Million. Further the directors are taking every steps for increasing sales and profit for the year 2012 - 2013 and onwards and they arc hopeful about making profit in the coming years.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10352359	17/03/2012	76,000,000.00	BANK OF BARODA	MANDVI BRANCH, RANG MAHAL, 212/216, SAMUEL STREET,  MANDVI, MUMBAI, MAHARASHTRA - 400003, INDIA	B38449120
2	10352353	31/12/2014 *	93,500,000.00	BANK OF BARODA	MANDVI BRANCH, RANG MAHAL, 212/216, SAMUEL STREET,  MANDVI, MUMABI, MAHARASHTRA - 400003, INDIA	C41636234
3	10217726	07/11/2009	33,000,000.00	STATE BANK OF INDIA	SPECIALISED S.I.B. BRANCH, HOTEL AIRWAYS BLDG,, G  ROUND FLOOR, L.B.S. MARG, GHATKOPAR (WEST),, MUMBAI, MAHARASHTRA - 400086, INDIA	A78258068

* Date of charge modification

FIXED ASSETS

• Factory Land
• Stream Machines
• Washing Machines
• Water Dispenser
• Plant and Machinery
• Furniture and Fixture

• Air Conditioner
• Electrical Equipment
• Factory Building
• Lab Machine
• Office Equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.58
UK Pound	1	Rs.97.99
Euro	1	Rs.70.53

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUM
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		12

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.