MIRA INFORM REPORT

Report No. :	323561
Report Date :	22.05.2015

IDENTIFICATION DETAILS

Name :	PON PURE CHEMICAL INDIA PRIVATE LIMITED

Formerly Known As :	PON PURE CHEM PRIVATE LIMITED (w.e.f. 26.06.2008) PURE CHEMICALS AND SOLVENT PRIVATE LIMITED

Registered Office :	No. 32, H Block, 15^th Main Road, Anna Nagar, Chennai - 600040, Tamilnadu

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	24.07.1998

Com. Reg. No.:	18-040872

Capital Investment / Paid-up Capital :	Rs. 85.405 Million

CIN No.: [Company Identification No.]	U24111TN1998PTC040872

TIN No.:	33241061285

CST No.:	774396 / 19.09.2001

IEC No.:	Not Available

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

PAN No.: [Permanent Account No.]	AACCP3026E

Legal Form :	Private Limited Liability Company

Line of Business :	Trader of Chemicals

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 2300000

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track record. The company has incurred a loss from its operations during 2014. However, General financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered normal 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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term Fund based Facilities = BBB
Rating Explanation	Have Moderate degree of safety and carry moderate credit risk
Date	January 2015

Rating Agency Name	ICRA
Rating	Short Term Non Fund - based Facilities = A3 +
Rating Explanation	Have Moderate degree of safety and Carry higher credit risk
Date	January 2015

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. Devarajan
Designation :	Accountant
Contact No.:	91-44-26161803
Date :	20.05.2015

LOCATIONS

Registered / Corporate Office :	No. 32, H Block, 15^th Main Road, Anna Nagar, Chennai - 600040, Tamilnadu, India
Tel. No.:	91-44-26161803 to 809
Fax No.:	91-44-26161813 /14
E-Mail :	info@pure-chemical.com compsec@pure-chemical.com basicchemicals@pure-chemical.com chennai@pure-chemical.com mkt_chennai@pure-chemical.com
Website :	www.pure-chemical.com

Branch :	128-130 Creative Industrial Estate, Road No.2, Sunder Nagar, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India
Tel. No.:	91-22-66937163 / 64 / 65
E-Mail :	mumbai@pure-chemical.com

Branch Office :	No. 391 and 392 Sector IV, Kasez, Kutch, District Gujarat, India

Branch Office :	2-3-85, 1^st floor, M. G. Road, Ramgopalpet, Secunderabad – 500 003, Telangana, India

Branch Office :	Also Located at: Chandigarh Andhra Pradesh Delhi Karnataka Kerla Pondicherry Tamilnadu Telangana West Bengal Mumbai

Overseas Office :	Located at: Australia Singapore Sri Lanka Dubai Kenya

DIRECTORS

AS ON 12.07.2013

Name :

Mr. Ponnuswami Muthuswamy

Designation :

Managing Director

Address :

AA23, 3^rd Street, Anna Nagar, Chennai-600040, Tamilnadu, India

Date of Birth/Age :

02.03.1953

Qualification :

B.Sc.

Date of Appointment :

24.07.1998

DIN No. :

00015847

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	U24299TN1994PTC026600	PON PURE CHEM PRIVATE LIMITED	Managing director	14/12/1994	14/12/1994	-	Amalgamated	NO
2	U24114TN1998PTC040871	COLOR CHEMICALS AND DYES PRIVATE LIMITED	Managing director	24/07/1998	24/07/1998	-	Converted to LLP and dissolved	NO
3	U24111TN1998PTC040872	PON PURE CHEM PRIVATE LIMITED	Managing director	24/07/1998	24/07/1998	-	Active	NO
4	U45201TN2005PTC056246	MAXIS CONSTRUCTION PRIVATE LIMITED	Director	11/05/2005	11/05/2005	25/03/2011	Active	NO
5	U93090TN1955GAP001528	TAMILNADU DYES & CHEMICALS MERCHANTS	Director	14/10/2005	14/10/2005	-	Active	NO
6	U17111TZ2006PTC016883	MANCHESTER TEXTILE PRIVATE LIMITED	Director	27/12/2011	24/03/2006	-	Active	NO
7	U45200TN2006PTC061563	MANO INFRASTRUCTURE PRIVATE LIMITED	Director	21/11/2006	21/11/2006	-	Active	NO
8	U65993TN2008PTC067740	Ponpure Finance Private Limited	Director	14/05/2008	14/05/2008	-	Active	NO
9	U18109TN2009PTC071436	STANFAB APPARELS PRIVATE LIMITED	Director	24/04/2009	24/04/2009	18/09/2011	Active	NO
10	U45400TN2011PTC083056	Pon Pure Construction Private Limited	Director	09/11/2011	09/11/2011	-	Active	NO
11	AAC-8443	COLOR CHEMICALS AND DYES LLP	Designated Partner	24/10/2014	24/10/2014	-	Active	NO

Name :

Mr. Manaoranjitham Nallayagounder Kaliannan

Designation :

Director

Address :

AA23, 3^rd Street, Anna Nagar, Chennai-600040, Tamilnadu, India

Date of Birth/Age :

15.06.1961

Date of Appointment :

24.07.1998

DIN No. :

00016775

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	U24111TN1998PTC040872	PON PURE CHEM PRIVATE LIMITED	Director	24/07/1998	24/07/1998	-	Active	NO
2	U24299TN1994PTC026600	PON PURE CHEM PRIVATE LIMITED	Whole-time director	01/06/2002	01/06/2002	-	Amalgamated	NO
3	U17111TZ2006PTC016883	MANCHESTER TEXTILE PRIVATE LIMITED	Director	24/03/2006	24/03/2006	-	Active	NO
4	U45200TN2006PTC061563	MANO INFRASTRUCTURE PRIVATE LIMITED	Director	21/11/2006	21/11/2006	-	Active	NO
5	U65993TN2008PTC067740	Ponpure Finance Private Limited	Director	14/05/2008	14/05/2008	-	Active	NO

Name :

Mr. Surya Prakas Muthuswamy Ponnuswami

Designation :

Whole-time Director

Address :

AA23, 3^rd Street, Anna Nagar, Chennai-600040, Tamilnadu, India

Date of Birth/Age :

21.12.1980

Date of Appointment :

30.07.2008

DIN No. :

00017891

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	U63090TN2005PTC056468	Pon Pure Logistics Private Limited	Managing director	01/12/2006	01/06/2005	-	Active	NO
2	U17111TZ2006PTC016883	MANCHESTER TEXTILE PRIVATE LIMITED	Director	18/09/2007	28/06/2006	-	Active	NO
3	U24111TN1998PTC040872	PON PURE CHEM PRIVATE LIMITED	Whole-time director	30/07/2008	01/04/2008	-	Active	NO
4	U45400TN2011PTC083056	Pon Pure Construction Private Limited	Director	09/11/2011	09/11/2011	-	Active	NO
5	U63012TN1997PTC037452	EVERWIN MARINE SERVICE PRIVATE LIMITED	Director	30/09/2013	28/03/2013	-	Active	NO

Name :

Mr. Lakshmipathy Muthuswamy Ponnuswami

Designation :

Whole-time Director

Address :

AA23, 3^rd Street, Anna Nagar, Chennai-600040, Tamilnadu, India

Date of Birth/Age :

25.09.1982

Date of Appointment :

30.07.2008

DIN No. :

00021951

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	U63090TN2005PTC056468	Pon Pure Logistics Private Limited	Director	01/06/2005	01/06/2005	-	Active	NO
2	U17111TZ2006PTC016883	MANCHESTER TEXTILE PRIVATE LIMITED	Director	18/09/2007	28/06/2006	-	Active	NO
3	U24111TN1998PTC040872	PON PURE CHEM PRIVATE LIMITED	Whole-time director	30/07/2008	01/04/2008	-	Active	NO
4	U45400TN2011PTC083056	Pon Pure Construction Private Limited	Director	09/11/2011	09/11/2011	-	Active	NO
5	U63012TN1997PTC037452	EVERWIN MARINE SERVICE PRIVATE LIMITED	Director	30/09/2013	28/03/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Devarajan
Designation :	Accountant

Name :	Mr. Khusboo Singhvi
Designation :	Secretary
Address :	Old No. 30, New No. 6, Govindappa Naicken Street, 3^rd Floor, Girnar Apartments, Chennai - 600001, Tamilnadu, India
Date of Birth/Age :	24.09.1985
Date of Appointment :	01.06.2010
PAN No.:	CMRPS2646R

MAJOR SHAREHOLDERS

As on 12.07.2013

Names of Shareholders	No. of Shares
M. Ponnuswami	664413
Manaoranjitham	45075
M.P. Suryaprakas	16700
M.P. Lakshmipathy	16700
M.P. Ponnuswami HUF	45110
S. Nithyasree	2

Total	788000

As on 12.07.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Chemicals

Products :

ITC Code No	Product Or Service
29023000	Toluene
29011000	Exxsol Hexane Fluid
29152100	Acetic Acid
27101990	Exxsol D80
27075000	Solvent C-9
29141100	Acetone
29051220	Iso Propyl Alcohol
39072090	Caradol Sc 56-16
29141200	Methyl Ethyl Ketone
29291020	Toluene Di Isocynate

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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

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

No. of Employees :

Not Divulged

Bankers :

Standard Chartered Bank, 19, Rajaji Salai, Chennai-600001, Tamilnadu, India
IDBI Bank Limited, 115, Anna Salai, Chennai- 600015, Tamilnadu, India
Axis Bank Limited, Corporate Banking Branch, Ground Floor, Karumuthu Nilayam, No.192, Anna Salai, Chennai-600002, Tamilnadu, India
The Karnataka Bank Limited, Kodambakkam Branch, Kodambakkam, Chennai - 600024, Tamilnadu, India
ICICI Bank Limited, Land Mark Race Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India
Bank of Baroda, International Business Branch, Justice Basheer Ahmed Building,45 Moore Street, Chennai - 600001, Tamil Nadu, India
State Bank of India, Overseas Branch, No.86.Rajaji Salai, Chennai - 600001, Tamilnadu, India
Ing Vysya Bank Limited, 185 Anna Salai, Near TVS, Chennai - 600006, Tamilnadu, India
Axis Bank Limited, No. 82, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600004, Tamilnadu, India
Punjab National Bank

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Rupee Term loans from Banks	37.741	61.418
Rupee term loans from others	0.236	0.330

SHORT TERM BORROWINGS
Term loans from banks	1795.310	1555.358
Total	1833.287	1617.106

Auditors :
Name :	Suri and Company Chartered Accountants
Address :	New No. 4 (Old No. 55-A) South Boag Road (chavaliar Shivaji Ganesan Salai) T. Nagar, Chennai – 600017, Tamilnadu, India
PAN No. :	AABFS5023Q

Memberships :	Not Divulged

Collaborators :	Not Divulged

Subsidiaries:	Pon Pure Chemm FZE, Dubai Pure Chemicals Pte. Ltd, Singapore Pon Pure Chemical Lanka (Private) Limited, Sri Lanka Pure Chemicals Pty Ltd, Australia Pon Pure Kenya Limited, Kenya

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

900000	Equity Shares	Rs.100/- each	Rs.90.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

854050	Equity Shares	Rs.100/- each	Rs. 85.405 Million

Particular	No. of Shares	% Holding Company
Ponnuswami Muthuswamy	730463	85.53%
P. Manaoranjitham	45075	5.28%

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	85.405	78.800	66.752
(b) Reserves & Surplus	753.521	743.517	630.616
(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)	838.926	822.317	697.368

(3) Non-Current Liabilities
(a) long-term borrowings	37.977	62.590	70.750
(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)	37.977	62.590	70.750

(4) Current Liabilities
(a) Short term borrowings	1795.310	1555.359	2762.987
(b) Trade payables	1633.140	2036.946	904.730
(c) Other current liabilities	73.233	92.412	86.886
(d) Short-term provisions	10.683	8.822	7.631
Total Current Liabilities (4)	3512.366	3693.539	3762.234

TOTAL	4389.269	4578.446	4530.352

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	553.959	515.361	481.686
(ii) Intangible Assets	12.725	3.029	3.167
(iii) Capital work-in-progress	0.000	23.329	11.629
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	90.574	74.200	63.235
(c) Deferred tax assets (net)	72.777	49.492	49.157
(d) Long-term Loan and Advances	19.332	16.253	16.096
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	749.367	681.664	624.970

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	920.673	1062.563	1032.404
(c) Trade receivables	2307.641	2412.389	2527.140
(d) Cash and cash equivalents	224.925	276.606	237.907
(e) Short-term loans and advances	91.097	72.357	59.714
(f) Other current assets	95.566	72.867	48.217
Total Current Assets	3639.902	3896.782	3905.382

TOTAL	4389.269	4578.446	4530.352

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	TOTAL	NA	NA	NA

Less	EXPENSES
	TOTAL	NA	NA	NA

	PROFIT/ (LOSS) BEFORE TAX	NA	NA	NA

Less	TAX	NA	NA	NA

	PROFIT/ (LOSS) AFTER TAX	(49.211)	9.292	(142.904)

	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	688.360	466.494	861.726
	Commission received	1.916	0.000	0.000
	Corporate Guarantee Commission	9.255	0.000	0.000
	TOTAL EARNINGS	699.531	466.494	861.726

	IMPORTS
	Trading Goods	7605.756	7697.530	8821.085
	TOTAL IMPORTS	7605.756	7697.530	8821.085

	Earnings / (Loss) Per Share (Rs.)	(62.45)	11.79	(181.35)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

24.296

24.646

24.482

Cash generated from operations

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
PARTICULARS
Debt Equity Ratio (Total Debt /Networth)	2.21	2.00	4.10

Current Ratio (Current Asset/Current Liability)	1.04	1.06	1.04

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	66.752	78.800	85.405
Reserves & Surplus	630.616	743.517	753.521
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	697.368	822.317	838.926

long-term borrowings	70.750	62.590	37.977
Short term borrowings	2762.987	1555.359	1795.310
Current maturities of long-term debts	24.296	24.646	24.482
Total borrowings	2858.033	1642.595	1857.769
Debt/Equity ratio	4.098	1.998	2.214

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10534362	10/11/2014	220,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI – 400018, MAHARASHTRA, INDIA	C35663426
2	10522099	11/09/2014	200,000,000.00	THE RATNAKAR BANK LIMITED	SHAHUPURI,KOLHAPUR, KOLHAPUR, MAHARASHTRA - 416001, INDIA	C22526206
3	10279539	04/08/2011 *	40,000,000.00	IDBI BANK LIMITED	115, ANNA SALAI, CHENNAI, TAMIL NADU - 600015, INDIA	B18802074
4	10261467	29/12/2010	70,000,000.00	PUNJAB NATIONAL BANK	4/2, FIRST FLOOR, NOLAMBUR MAIN ROAD, WEST MOGAP PAIR, CHENNAI, TAMIL NADU - 600037, INDIA	B03845286
5	10235346	20/08/2010	450,000,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	A92988864
6	10199776	25/01/2010 *	130,000,000.00	PUNJAB NATIONAL BANK	T.NAGAR BRANCH, NO.10. RAJA STREET, CHENNAI, TAMIL NADU - 600017, INDIA	A81468803
7	10193612	09/01/2014 *	210,000,000.00	ING VYSYA BANK LIMITED	185,ANNA SALAI,, NEAR TVS,, CHENNAI, TAMIL NADU - 600006, INDIA	B94297066
8	10159095	22/08/2011 *	850,000,000.00	STANDARD CHARTERED BANK	19, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA	B19324540
9	10149738	28/09/2012 *	120,000,000.00	KARNATAKA BANK LIMITED	KODAMBAKKAM BRANCH, KODAMBAKKAM, CHENNAI, TAMIL NADU - 600024, INDIA	B61770111
10	10137237	27/01/2012 *	350,000,000.00	BANK OF BARODA	INTERNATIONAL BUSINESS BRANCH, JUSTICE BASHEER AHMED BUILDING,45 MOORE STREET, CHENNAI, TAMIL NADU - 600001, INDIA	B32873432

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Loans and Advances from related Parties	0.000	0.843
Total	0.000	0.843

FIXED ASSETS

Land
Buildings
Plant and equipment
Furniture and fixtures
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. 63.70
UK Pound	1	Rs. 98.92
Euro	1	Rs. 70.67

INFORMATION DETAILS

Information Gathered by :	KMN

Analysis Done by :	RAS

Report Prepared by :	ART

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	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		49

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

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