MIRA INFORM REPORT

Report No. :	323978
Report Date :	29.05.2015

IDENTIFICATION DETAILS

Name :	MUTHOOT EXIM PRIVATE LIMITED

Registered Office :	Muthoot Towers, M.G. Road, Cochin, Ernakulam – 682035, Kerala
Tel. No.:	91-484-2396478

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	24.09.1998

Com. Reg. No.:	09-012492

Capital Investment / Paid-up Capital :	Rs.0.100 Million

CIN No.: [Company Identification No.]	U51909KL1998PTC012492

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

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	The subject is engaged in agency sales and trading of gold and bullions and travel agency.

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is subsidiary of "Muthoot Pappachan Group" and is having a moderate track record. As per Registrar of Companies the date of balance sheet (i.e. financial field) is shown as 31.03.2014, but the documents related to the financials are not been available from any sources. From the financial of 2013, rating constrained company drastic decrease in its income marked by its negative profitability and huge external borrowing leverages balance sheet of the company. Rating take into accounts as company receives strong financial position and managerial support from its holding company. However, trade relation are fair. Business is active. Payments are reported to be slow but correct. In a view of strong support from holding company, the company can be considered for the business dealings with some cautions.

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	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 DECLINED BY

Name :	Mr. K V Vargies
Designation :	Deputy General Manager
Contact No.:	91-484-2396478
Date :	23.05.2015

LOCATIONS

Registered Office :	Muthoot Towers, M G Road, Cochin, Ernakulam – 682035, Kerala, India
Tel. No.:	91-484-2396478
Fax No.:	Not Available
E-Mail :	cs@muthoot.com

DIRECTORS

As on 29.09.2014

Name :

Nina George

Designation :

Director

Address :

Muthoot Tower, M.G. Road, Earnakulam College, Earnakulam – 682035, Kerala, India

Date of Birth/Age :

17.09.1967

Date of Appointment :

30.09.2011

DIN No.:

00480440

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	U65929KL1997PLC011518	MUTHOOT FINCORP LIMITED	Director	10-06-1997	10-06-1997	15-11-2010	Active	NO
2	U55101KL1999PTC013114	MPG HOTELS AND INFRASTRUCTURE VENTURES PRIVATE LIMITED	Director	05-07-1999	05-07-1999	17-08-2011	Active	NO
3	U55101KL1997PTC022576	MUTHOOT HOTELS PRIVATE LIMITED	Director	15-11-2002	15-11-2002	-	Active	NO
4	U51909KL1998PTC012492	MUTHOOT EXIM PRIVATE LIMITED	Director	30-09-2011	18-11-2010	-	Active	NO
5	U65999KA2010PTC053162	MUTHOOT KURIES PRIVATE LIMITED	Director	27-09-2012	29-02-2012	-	Active	NO
6	U65992KL2012PTC032248	MUTHOOT PAPPACHAN CHITS (INDIA) PRIVATE LIMITED	Director	26-09-2012	26-09-2012	-	Active	NO
7	U70100KL2010PTC025895	MUTHOOT PROPERTIES (INDIA) PRIVATE LIMITED	Additional director	16-02-2015	16-02-2015	16-02-2015	Active	NO
8	U67190KA2010PTC054354	MUTHOOT HOLDINGS PRIVATE LIMITED	Additional director	19-02-2015	19-02-2015	-	Active	NO
9	U67120KL2010PLC025792	MUTHOOT EQUITIES LIMITED	Additional director	23-02-2015	23-02-2015	-	Active	NO
10	U50101KL1993PTC006928	MUTHOOT MOTORS PVT LTD	Additional director	25-02-2015	25-02-2015	-	Active	NO
11	U55204MH2010PTC207296	ALASKA AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED	Additional director	06-03-2015	06-03-2015	-	Active	NO
12	U55204MH2010PTC207090	BUTTERCUP AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED	Additional director	06-03-2015	06-03-2015	-	Active	NO
13	U55204MH2010PTC207719	BAMBOO AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED	Additional director	06-03-2015	06-03-2015	-	Active	NO
14	U55100MH2010PTC207717	CINNAMON AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED	Additional director	07-03-2015	07-03-2015	-	Active	NO
15	U55101MH2010PTC207814	CALYPSO AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED	Director	07-03-2015	07-03-2015	-	Active	NO
16	U55204MH2010PTC207297	FLAME AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED	Additional director	08-03-2015	08-03-2015	-	Active	NO
17	U55204MH2010PTC207835	MARIPOSA AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED	Additional director	09-03-2015	09-03-2015	-	Active	NO
18	U55101MH2010PTC202836	MUTHOOT AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED	Additional director	10-03-2015	10-03-2015	-	Active	NO
19	U55204MH2010PTC207723	PINE PINK AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED	Additional director	11-03-2015	11-03-2015	-	Active	NO

Name :

Mr. Remmy Thomas

Designation :

Director

Address :

Muthoot No. 759, A Cherukad Eroor Post Office, Near Kaniyampuzha, Bridge, Ernakulam – 682306, Kerala, India

Date of Birth/Age :

31.05.1968

Date of Appointment :

30.09.2011

DIN No.:

00480592

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	U65929KL1997PLC011518	MUTHOOT FINCORP LIMITED	Director	10-06-1997	10-06-1997	15-11-2010	Active	NO
2	U55101KL1999PTC013114	MPG HOTELS AND INFRASTRUCTURE VENTURES PRIVATE LIMITED	Director	05-07-1999	05-07-1999	17-08-2011	Active	NO
3	U55101KL1997PTC022576	MUTHOOT HOTELS PRIVATE LIMITED	Director	15-11-2002	15-11-2002	-	Active	NO
4	U51909KL1998PTC012492	MUTHOOT EXIM PRIVATE LIMITED	Director	30-09-2011	18-11-2010	-	Active	NO
5	U50100KL2011PTC028259	MUTHOOT AUTOMOBILE SOLUTIONS PRIVATE LIMITED	Director	29-09-2012	12-01-2012	-	Active	NO
6	U50100KL2010PTC027052	MUTHOOT AUTOMOTIVE (INDIA) PRIVATE LIMITED	Director	29-09-2012	12-01-2012	-	Active	NO
7	U65999KA2010PTC053162	MUTHOOT KURIES PRIVATE LIMITED	Director	27-09-2012	29-02-2012	-	Active	NO
8	U65992KL2012PTC032248	MUTHOOT PAPPACHAN CHITS (INDIA) PRIVATE LIMITED	Director	26-09-2012	26-09-2012	-	Active	NO
9	U70100KL2010PTC025895	MUTHOOT PROPERTIES (INDIA) PRIVATE LIMITED	Additional director	16-02-2015	16-02-2015	-	Active	NO
10	U67120KL2010PLC025792	MUTHOOT EQUITIES LIMITED	Additional director	23-02-2015	23-02-2015	-	Active	NO
11	U55101MH2010PTC207831	EL TORO AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED	Additional director	07-03-2015	07-03-2015	-	Active	NO
12	U55204MH2010PTC207829	FOX BUSH AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED	Additional director	08-03-2015	08-03-2015	-	Active	NO
13	U55101MH2010PTC207038	JUNGLE CAT AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED	Additional director	09-03-2015	09-03-2015	-	Active	NO
14	U70100KL2010PTC025894	MUTHOOT BUILDTECH (INDIA) PRIVATE LIMITED	Additional director	10-03-2015	10-03-2015	-	Active	NO
15	U70102KL2010PTC025888	MUTHOOT LAND AND ESTATES PRIVATE LIMITED	Additional director	11-03-2015	11-03-2015	-	Active	NO
16	U55102KL1991PTC005999	THE RIGHT AMBIENT RESORTS PRIVATE LIMITED	Additional director	11-03-2015	11-03-2015	-	Active	NO
17	U55204MH2010PTC207723	PINE PINK AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED	Additional director	11-03-2015	11-03-2015	-	Active	NO

Name :

Preethi John Muthoot

Designation :

Director

Address :

TC 4, 1008 – 1, Kaudier, Trivandrum - 695003, Kerala, India

Date of Birth/Age :

21.10.1964

Date of Appointment :

30.09.2011

DIN No.:

00483799

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	U65929KL1997PLC011518	MUTHOOT FINCORP LIMITED	Director	10-06-1997	10-06-1997	15-11-2010	Active	NO
2	U55101KL1999PTC013114	MPG HOTELS AND INFRASTRUCTURE VENTURES PRIVATE LIMITED	Director	05-07-1999	05-07-1999	17-08-2011	Active	NO
3	U55101KL1997PTC022576	MUTHOOT HOTELS PRIVATE LIMITED	Director	30-09-2004	30-09-2004	-	Active	NO
4	U45209KL2004PTC017574	MUTHOOT INFRASTRUCTURE PRIVATE LIMITED	Director	30-09-2005	30-09-2005	-	Active	NO
5	U51909KL1998PTC012492	MUTHOOT EXIM PRIVATE LIMITED	Director	30-09-2011	18-11-2010	-	Active	NO
6	U65999KA2010PTC053162	MUTHOOT KURIES PRIVATE LIMITED	Director	27-09-2012	29-02-2012	-	Active	NO
7	U65992KL2012PTC032248	MUTHOOT PAPPACHAN CHITS (INDIA) PRIVATE LIMITED	Director	26-09-2012	26-09-2012	-	Active	NO
8	U55101MH2010PTC205546	MUTHOOT DAIRIES AND AGRI VENTURES PRIVATE LIMITED	Additional director	10-02-2015	10-02-2015	-	Active	NO
9	U74300KL2014PTC037248	THE THINKING MACHINE MEDIA PRIVATE LIMITED	Additional director	24-02-2015	24-02-2015	-	Active	NO
10	U55204MH2010PTC207296	ALASKA AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED	Additional director	06-03-2015	06-03-2015	-	Active	NO
11	U55204MH2010PTC207719	BAMBOO AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED	Additional director	06-03-2015	06-03-2015	-	Active	NO
12	U55101MH2010PTC207831	EL TORO AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED	Additional director	07-03-2015	07-03-2015	-	Active	NO
13	U55100MH2010PTC207717	CINNAMON AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED	Additional director	07-03-2015	07-03-2015	-	Active	NO
14	U55101MH2010PTC207814	CALYPSO AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED	Additional director	07-03-2015	07-03-2015	-	Active	NO
15	U55100MH2010PTC207342	GOBLIN AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED	Additional director	08-03-2015	08-03-2015	-	Active	NO
16	U55204MH2010PTC207830	MANDARIN AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED	Additional director	09-03-2015	09-03-2015	-	Active	NO
17	U01407MH2008PTC180423	MUTHOOT AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED	Additional director	10-03-2015	10-03-2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. K V Vargies
Designation :	Deputy General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders	No. of Shares	%age holding
Nina George	7500	36.59
Remmy Thomas	7500	36.59
John Muthoot	5500	26.83
Total	20500	100.00

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	The subject is engaged in agency sales and trading of gold and bullions and travel agency.

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Not Divulged
Branch	Not Divulged
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	31.03.2013 (Rs. in Million)	31.03.2012 (Rs. in Million)
Short-term borrowings
Loans Repayable on Demand from Bank	50.864	0.000
Total	50.864	0.000

Auditors :
Name :	Paulson and Company Chartered Accountants
Address :	Deshabhimani Junction, Kaloor, Earnakulam – 682017, Kerala, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAHFP2419D

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

500000	Equity Shares	Rs.10/- each	Rs.5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

20500	Equity Shares	Rs.10/- each	Rs.0.205 Million

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

500000	Equity Shares	Rs.10/- each	Rs.5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	1.617	14.368	3.075
(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)	1.717	14.468	3.175

(3) Non-Current Liabilities
(a) long-term borrowings	16.380	16.121	16.134
(b) Deferred tax liabilities (Net)	0.000	0.000	-0.110
(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)	16.380	16.121	16.024

(4) Current Liabilities
(a) Short term borrowings	50.864	0.000	0.000
(b) Trade payables	1.299	33.113	7.072
(c) Other current liabilities	11.526	10.192	5.936
(d) Short-term provisions	0.000	5.673	3.553
Total Current Liabilities (4)	63.689	48.978	16.561

TOTAL	81.786	79.567	35.760

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.285	0.338	0.348
(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)	0.095	0.108	0.000
(d) Long-term Loan and Advances	0.024	0.024	0.024
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.404	0.470	0.372

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	9.296	6.220	13.657
(c) Trade receivables	6.471	33.026	12.673
(d) Cash and cash equivalents	64.949	32.847	3.997
(e) Short-term loans and advances	0.045	0.045	2.779
(f) Other current assets	0.622	6.959	2.282
Total Current Assets	81.383	79.097	35.388

TOTAL	81.787	79.567	35.760

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	9.838	56.404	23.884
	Other Income
	TOTAL	9.838	56.404	23.884

Less	EXPENSES	22.223	39.332	9.502

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(12.385)	17.072	14.382

Less	FINANCIAL EXPENSES	0.283	0.035	0.004

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(12.668)	17.037	14.378

Less/ Add	DEPRECIATION/ AMORTISATION	0.069	0.068	0.061

	PROFIT/ (LOSS) BEFORE TAX	(12.737)	16.969	14.317

Less	TAX	0.013	5.676	3.443

	PROFIT/ (LOSS) AFTER TAX	(12.750)	11.293	10.874

	Earnings / (Loss) Per Share (Rs.)	(1275.05)	1129.34	1087.46

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

Cash generated from operations

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	(15.59)	21.36	40.04

Return on Investment (ROI) (PBT/Networth)		(7.42)	1.17	4.51

Debt Equity Ratio (Total Debt /Networth)		39.16	1.11	5.08

Current Ratio (Current Asset/Current Liability)		1.28	1.61	2.14

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	0.100	0.100	0.100
Reserves & Surplus	3.075	14.368	1.617
Net worth	3.175	14.468	1.717

long-term borrowings	16.134	16.121	16.380
Short term borrowings	0.000	0.000	50.864
Total borrowings	16.134	16.121	67.244
Debt/Equity ratio	5.082	1.114	39.164

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)
Total Income	23.884	56.404	9.838
		136.158	(82.558)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	23.884	56.404	9.838
Profit	10.874	11.293	(12.750)
	45.53%	20.02%	(129.60%)

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	No
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	Yes
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	No
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

CORPORATE INFORMATION:

Subject is a Private Limited Company incorporated in India under the provisions of the Companies Act, 1956. The Company is engaged in Agency Sales and trading of Gold and Bullions and Travel Agency.

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Million)	31.03.2012 (Rs. in Million)
Long-term Borrowings
Other Loans and Advances
Clean Loan From Muthoot Bankers (A firm in which directors as partners)	16.380	16.121
Total	16.380	16.121

INDEX OF CHARGES NO - CHARGES EXIST FOR COMPANY

FIXED ASSETS

Tangible Assets

Air Conditioner
Computers and Peripherals
Electrical and Fittings
Neon Board
Epabx System
Office Equipments
Office Furnishing
Printers

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.63.90
UK Pound	1	Rs.98.16
Euro	1	Rs.69.74

INFORMATION DETAILS

Information Gathered by :	GAY

Analysis Done by :	KAS

Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	-
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		30

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	--

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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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