MIRA INFORM REPORT

Report No. :	319442
Report Date :	04.05.2015

IDENTIFICATION DETAILS

Name :	ARS ENERGY PRIVATE LIMITED
Formerly Known As :	A. R. S. METALS PRIVATE LIMITED (w.e.f 02.07.2013) A.R.S. METALS LIMITED (w.e.f. 28.05.2009) A.R.S.METALS PRIVATE LIMITED
Registered Office :	D – 109, 2^nd Floor, LBR Complex, Chinthamani, Anna Nagar East, Chennai – 600102, Tamilnadu
Tel no.:	91-44-43500684
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.09.1990
Com. Reg. No.:	18-032178
Capital Investment / Paid-up Capital :	Rs. 81.642 Million
CIN No.: [Company Identification No.]	U27209TN1990PTC032178
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACA5351P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of TMT Bars.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 5700000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating takes into consideration extensive experience of the company in steel products supported by sound financial base and sound profitability margins of the company. Trade relations are fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual trade terms and conditions.

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	Moderate degree of safety and moderate credit risk
Date	15.07.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3
Rating Explanation	Moderate degree of safety and higher credit risk
Date	15.07.2014

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 / Corporate office :	D – 109, 2^nd Floor, LBR Complex, Chinthamani, Anna Nagar East, Chennai – 600102, Tamilnadu, India
Tel. No.:	91-44-43500684 / 43500593 / 43500687 (8 lines) / 45606700
Fax No.:	91-44-43500597
E-Mail :	marketing@arsmetals.com purchase@arsmetals.com arsmetals@yahoo.com sushil@arsmetals.com
Website:	www.arsmetals.com
Power Site:	Survey No: 207, Eguvarpalayam Village, Gummidipoondi Thiruvallur (District) – 601 201, Tamilnadu, India.
Steel Factory:	B – 1 / S, Sipcot Industrial Complex. Gummidipundi – 601201, Tamilnadu, India.
Tel. No.:	91-44-27922552 / 27922846 / 27921749

DIRECTORS

AS ON 30.09.2014

Name :

Ms. Ashwani Kumar Bhatia

Designation :

Managing Directors

Address :

B – 4 / 50, Paschim Vihar. New Delhi – 110063, India

Date of Birth/Age :

01.01.2010

Date of Appointment :

19.09.1990

DIN No.:

00105523

PAN No.:

AAMPK7991G

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	U27209TN1990PTC032178	A.R.S.METALS PRIVATE LIMITED	Managing director	01/01/2010	19/09/1990	-	Active	NO
2	U27101DL1998PTC091700	SAR ISPAT PRIVATE LIMITED	Director	14/08/2007	15/01/1998	18/01/2008	Active	NO
3	U45201DL2003PLC121065	LEADING ESTATES LIMITED	Director	25/06/2003	25/06/2003	10/03/2011	Active	NO
4	U92100TN2007PTC065038	REEL FACTORY MEDIA PRIVATE LIMITED	Director	05/03/2008	05/03/2008	06/03/2009	Active	NO
5	U65910CH1994PTC015196	NACHIKETA FINVEST PRIVATE LIMITED	Additional director	23/04/2009	23/04/2009	24/04/2009	Active	NO
6	U65910DL1993PTC052164	EAST DELHI LEASING PRIVATE LIMITED	Director	25/09/2009	01/07/2009	-	Active	NO
7	U65923WB1990PTC050511	BGS CREDIT PVT LTD	Director	08/08/2009	08/08/2009	-	Active	NO
8	U70109DL2013PTC248463	LEADING REALTY PRIVATE LIMITED	Director	19/02/2013	19/02/2013	-	Active	NO
9	U28123TN2013PTC092689	ARS STEELS AND ALLOY INTERNATIONAL PRIVATE LIMITED	Managing director	26/08/2013	26/08/2013	-	Active	NO

Name :

Mr. Darshan Lal Bhatia

Designation :

Director

Address :

B – 4 / 50, Paschim Vihar. New Delhi – 110063, India

Date of Birth/Age :

12.07.1940

Date of Appointment :

01.06.2012

DIN No.:

00106692

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	U27101DL1998PTC091700	SAR ISPAT PRIVATE LIMITED	Director	15/01/1998	15/01/1998	18/01/2008	Active	NO
2	U27209TN1990PTC032178	A.R.S.METALS PRIVATE LIMITED	Director	01/06/2012	08/09/2008	-	Active	NO
3	U28123TN2013PTC092689	ARS STEELS AND ALLOY INTERNATIONAL PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO

Name :

Mr. Prem Dutt Bhatia

Designation :

Director

Address :

237, Ambica Vihar, Paschim Vihar, New Delhi – 110063, India

Date of Birth/Age :

16.08.1943

Date of Appointment :

10.12.1991

DIN No.:

00249331

PAN No.:

AIGPB1337F

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	U27209TN1990PTC032178	A.R.S.METALS PRIVATE LIMITED	Director	10/12/1991	10/12/1991	-	Active	NO
2	U28123TN2013PTC092689	ARS STEELS AND ALLOY INTERNATIONAL PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO

Name :

Mr. Sathya Narayana Murthy Chintha Venkata

Designation :

Whole Time Director

Address :

576, Anuthama Apartments. Chitala Kuppam Village, Gummudipoondi. Taluk – Thiruvallore, District – Thiruvellore – 601201, India

Date of Birth/Age :

13.07.1966

Qualification :

B Tech MBA.

Date of Appointment :

01.01.2010

DIN No.:

00496576

PAN No.:

BUIPS4690F

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	U27209TN1990PTC032178	A.R.S.METALS PRIVATE LIMITED	Whole-time director	01/01/2010	01/11/2005	-	Active	NO
2	U28123TN2013PTC092689	ARS STEELS AND ALLOY INTERNATIONAL PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO

Name :

Mr. Rajesh Bhatia

Designation :

Whole Time Director

Address :

B – 4 / 50, Paschim Vihar. New Delhi – 110063, India

Date of Birth/Age :

09.07.1988

Date of Appointment :

06.07.2009

DIN No.:

02564103

PAN No.:

ALCPB6704D

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	U45201DL2003PLC121065	LEADING ESTATES LIMITED	Director	26/09/2009	01/07/2009	-	Active	NO
2	U27209TN1990PTC032178	A.R.S.METALS PRIVATE LIMITED	Whole-time director	06/07/2009	06/07/2009	-	Active	NO
3	U51909DL2009PTC273642	KING MERCHANDISE PRIVATE LIMITED	Director	29/09/2012	01/04/2012	-	Active	NO
4	U51909DL2010PTC273643	SR VINCOM PRIVATE LIMITED	Director	29/09/2012	01/04/2012	-	Active	NO
5	U51909DL2010PTC273641	RS VINCOM PRIVATE LIMITED	Director	29/09/2012	01/04/2012	-	Active	NO
6	U28123TN2013PTC092689	ARS STEELS & ALLOY INTERNATIONAL PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO

Name :

Mr. Xavier

Designation :

Director

Address :

2A / 10, Mithilam Flats, Sriram Nagar, Main Raod, Nolambur, Chennai – 600095, Tamilnadu, India

Date of Birth/Age :

18.11.1959

Date of Appointment :

30.09.2013

DIN No.:

06581219

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	U27209TN1990PTC032178	A.R.S.METALS PRIVATE LIMITED	Director	30/09/2013	26/04/2013	-	Active	NO
2	U28123TN2013PTC092689	ARS STEELS AND ALLOY INTERNATIONAL PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 19.09.2014

SHAREHOLDING DETAILS FILE ATTACHED

As on 19.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	71.02
Directors or relatives of Directors	28.98
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of TMT Bars.

Products :

Description of product or service	ITC code
TMT Bars, Billets & Ingots	72141090

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Not Available

Purchasing :

Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Not 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 :

• Canara Bank, Anna Nagar East Branch, Door No. 12 and 13 II, Avenue Tana, Chennai – 600102, Tamilnadu, India
• Oriental Bank of Commerce, Oversease Branch, Padma Complex, Nandanam – 600035, Chennai, Tamilnadu, India
• Andhra Bank, 48/39, Wavoo Mansion, Rajaji Salai, Chennai - 600001, Tamilnadu, India

Banker Name	HDFC Bank Limited
Branch Address	HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra, 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 Loan	As on 31.03.2014	As on 31.03.2013
Long-term borrowings
Term loans from banks	2750.516	2572.551
Term loans from others	81.588	88.458
Short-term borrowings
Working capital loans from banks	570.121	268.976
Total	3402.224	2929.985

Auditors :
Name :	A. Krishnamoorthy and Company Chartered Accountants
Address :	43, (Old No. 16/3), Ramaswamy Street, T. Nagar, Chennai- 600017, Tamilnadu, India
PAN No.:	AGHPK4186E
Memberships :	Not Available
Collaborators :	Not Available
Associates :	Leading Estates Limited

CAPITAL STRUCTURE

As on 19.09.2014

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
8164242	Equity Shares	Rs.10/- each	Rs. 81.642 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	81.642	80.734	58.983
(b) Reserves & Surplus	1928.488	1896.575	1283.704
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.005
Total Shareholders’ Funds (1) + (2)	2010.130	1977.309	1342.692
(3) Non-Current Liabilities
(a) long-term borrowings	2956.611	2730.312	1588.911
(b) Deferred tax liabilities (Net)	19.419	14.935	14.060
(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)	2976.030	2745.247	1602.971
(4) Current Liabilities
(a) Short term borrowings	570.121	268.976	592.734
(b) Trade payables	697.554	673.020	92.919
(c) Other current liabilities	80.664	66.384	39.081
(d) Short-term provisions	3.811	18.364	22.825
Total Current Liabilities (4)	1352.150	1026.744	747.559
TOTAL	6338.310	5749.300	3693.222
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4224.958	593.577	476.570
(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	2994.018	519.197
(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	13.573	6.256	6.076
(e) Other Non-current assets	17.906	422.463	132.424
Total Non-Current Assets	4256.437	4016.314	1134.267
(2) Current assets
(a) Current investments	1.000	0.950	0.050
(b) Inventories	939.086	805.426	523.995
(c) Trade receivables	627.828	447.056	234.885
(d) Cash and cash equivalents	199.485	231.354	28.594
(e) Short-term loans and advances	161.356	133.973	189.670
(f) Other current assets	153.118	114.227	1581.761
Total Current Assets	2081.873	1732.986	2558.955
TOTAL	6338.310	5749.300	3693.222

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013
SALES
Income	4020.991	3484.592
Other Income	27.317	30.130
TOTAL	4048.308	3514.722
MATERIALS & MANUFACTURING EXPENSES	3281.628	3393.871
VALUE ADDITION COST	751.002	65.603
DEPRECIATION/ AMORTISATION	284.823	49.093
PROFIT/ (LOSS) BEFORE TAX	15.678	55.249
TAX	NA	NA
PROFIT/ (LOSS) AFTER TAX	NA	NA
Earnings / (Loss) Per Share (Rs.)	NA	NA

	PARTICULARS		31.03.2012
	SALES
		Income	3446.217
		Other Income	21.787
		TOTAL (A)	3468.004
Less	EXPENSES
		Cost of Materials Consumed	2664.914
		Purchases of Stock-in-Trade	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(10.874)
		Employees benefits expense	30.097
		Other expenses	570.225
		TOTAL (B)	3254.362
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		137.704
Less	FINANCIAL EXPENSES (D)		48.861
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		125.594
Less/ Add	DEPRECIATION/ AMORTISATION (F)		45.022
	PROFIT BEFORE TAX (E-F) (G)		80.572
Less	TAX (H)		17.692
	PROFIT AFTER TAX (G-H) (I)		62.880
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		105.374
	BALANCE CARRIED TO THE B/S		168.254
	Earnings Per Share (Rs.)		7.70

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	7.47	1.19	1.82
Operating Profit Margin (PBITD/Sales)	(%)	7.47	5.52	6.20
Return on Total Assets (PBT/Total Assets}	(%)	4.74	2.01	2.54
Return on Investment (ROI) (PBT/Networth)		0.01	0.03	0.06
Debt Equity Ratio (Total Debt /Networth)		1.75	1.52	1.62
Current Ratio (Current Asset/Current Liability)		1.54	1.69	3.42

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	58.983	80.734	81.642
Reserves & Surplus	1283.704	1896.575	1928.488
Net worth	1342.687	1977.309	2010.130
long-term borrowings	1588.911	2730.312	2956.611
Short term borrowings	592.734	268.976	570.121
Total borrowings	2181.645	2999.288	3526.732
Debt/Equity ratio	1.625	1.517	1.754

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	3446.217	3484.592	4020.991
		1.114	15.393

LOCAL AGENCY FURTHER INFORMATION

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

UNSECURED LOAN

Rs. In Million

Particular	As on 31.03.2013	As on 31.03.2012
Long-term borrowings
Loans and advances from directors	124.508	69.303
Total	124.508	69.303

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10477079	07/02/2014	150,000,000.00	TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITE  D	NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA	B96145966
2	10466595	23/11/2013	30,000,000.00	CANARA BANK	PRIME CORPORATE BRANCH, SPENCER TOWER 1, GROUND FLOOR 770 A, ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA	B92135029
3	10429694	17/05/2013 *	520,000,000.00	CANARA BANK	PRIME CORPORATE BRANCH, SPENCER TOWER I,, GROUND  FLOOR, 770-A, ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA	B76864982
4	10403240	06/02/2013	95,800,000.00	INDIAN OVERSEAS BANK	IV MAIN ROAD BRANCH, V BLOCK, PLOT NO.4035, NO.83, 4TH MAIN ROAD, ANNA NAGAR, CHENNAI, TAMILNADU  - 600040, INDIA	B68214683
5	10440033	29/12/2012	88,009,411.00	PNB HOUSING FINANCE LIMITED	9TH FLOORANTRIKSH BHAWAN, 22 K G MARG, NEW DELHI, DELHI - 110001, INDIA	B73597361
6	10379970	14/09/2012	70,000,000.00	ORIENTAL BANK OF COMMERCE	OVERSEAS BRANCH, PADMA COMPLEX, NO.467, ANNA SALAI, CHENNAI, TAMILNADU - 600035, INDIA	B59475533
7	10298519	06/06/2011	4,284,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	B17222183
8	10296126	25/05/2011	1,267,000.00	BAJAJ FINANCE LIMITED	AKURDI PUNE-, PUNE, MAHARASHTRA - 411035, INDIA	B16536203
9	10283219	17/05/2013 *	2,770,000,000.00	CANARA BANK	PRIME CORPORATE BRANCH, SPENCER TOWER I,, GROUND  FLOOR, 770-A, ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA	B76864131
10	10248990	26/12/2013 *	1,350,000,000.00	CANARA BANK	PRIME CORPORATE BRANCH,, 770 ANNA SALAI, SPENCER  TOWER I,, CHENNAI, TAMILNADU - 600002, INDIA	B94414968
11	10227722	04/01/2011 *	240,000,000.00	ORIENTAL BANK OF COMMERCE	OVERSEAS BRANCH, PADMA COMPLEX, 467, ANNA SALAI, CHENNAI, TAMILNADU - 600035, INDIA	B03528742
12	10111041	13/07/2012 *	1,765,000,000.00	CANARA BANK	PRIME CORPORATE BRANCH, 770, ANNA SALAI, SPENCER TOWER I, CHENNAI, TAMILNADU - 600002, INDIA	B44969947

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments
• Other equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

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

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	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		45

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.