MIRA INFORM REPORT

Report No. :	321819
Report Date :	30.05.2015

IDENTIFICATION DETAILS

Name :	LAMINA SUSPENSION PRODUCTS LIMITED
Registered Office :	8^th Floor, Ram Bhavan Complex, Kodiabail, Mangalore-575003, Karnataka
Tel. No.:	91-824-2408679/2440556/2440561/2440587
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.11.1975
Com. Reg. No.:	08-002910
Capital Investment / Paid-up Capital :	Rs.23.468 Million
IEC No.:	Not Available
CIN No.: [Company Identification No.]	U27109KA1975PLC002910
TAN No.: [Tax Deduction & Collection Account No.]	BLRL00837E
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Automobile Leaf Springs.
No. of Employees :	550 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (33)

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

Maximum Credit Limit :	USD 160000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is established public company having moderate track record. Company has less liquidity as liquid is 0.7 which is less than standard 1.5, leverage is also high. The company recorded sales drop by 5.66% Profit is also dropped as compare to financial year 2013 Trade relations are reported as fair. Business is active. Payment terms are slow but correct. The company can be considered for the business dealing with caution.

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	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	BB (Long Term Rating)
Rating Explanation	Inadequate credit quality and high credit risk.
Date	17.09.2014

Rating Agency Name	CRISIL
Rating	A4+ (Short Term Rating)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	17.09.2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Avinash
Designation :	Director
Contact No.:	91-9880734679
Date :	12.05.2015

LOCATIONS

Registered Office/ Factory:	8^th Floor, Ram Bhavan Complex, Kodiabail, Mangalore-575003, Karnataka, India
Tel. No.:	91-824-2408679/2440556/2440561/2440587
Mobile No.:	91-9880734679 (Mr. Avinash)
Fax No.:	91-824-2440994
E-Mail :	mylamina@hotmail.com saliancs@gmail.com
Website :	http://www.laminasprings.com

DIRECTORS

As on 26.09.2014

Name :

Mr. Nitte Vinay Hegde

Designation :

Managing Director

Address :

Sadanand Shiv Bagh, Kadri, Mangalore-575002, Karnataka, India

Date of Birth/Age :

02.04.1939

Date of Appointment :

01.10.2012

DIN No.:

00043080

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	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Managing director	01-10-12	26-11-75	-	Active	NO
2	U85110KA1981PLC004151	LAMINA FOUNDRIES LIMITED	Director	19-03-81	19-03-81	-	Active	NO
3	U29113KA1979PTC003671	LAMINA ENGINEERING COMPANY PRIVATE LIMITED	Director	09-06-81	09-06-81	-	Amalgamated	NO
4	U80210KA2011PTC057439	NITTE EDUCATION INTERNATIONAL PRIVATE LIMITED	Director	07-03-11	07-03-11	-	Active	NO
5	U80900KA2014NPL074455	Educational Assessment and Rating Foundation	Director	07-04-14	07-04-14	-	Active	NO
6	U27101KA1985PTC007105	MANMET ENGINEERING PRODUCTS PRIVATE LIMITED	Additional director	09-10-14	09-10-14	-	Active	NO

Name :

Mr. Tonse Ramesh Shenoy

Designation :

Whole Time Director

Address :

Vaishalya M.G. Cross Road, Kodialbail (West), Mangalore-575003, Dakshina Kannada, Karnataka, India

Date of Birth/Age :

13.04.1937

Date of Appointment :

01.10.2012

DIN No.:

00053932

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	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Whole-time director	01-10-12	26-11-75	-	Active	NO
2	U29113KA1979PTC003671	LAMINA ENGINEERING COMPANY PRIVATE LIMITED	Managing director	04-12-79	04-12-79	-	Amalgamated	NO
3	U85110KA1981PLC004151	LAMINA FOUNDRIES LIMITED	Director	19-03-81	19-03-81	-	Active	NO
4	U27101KA1985PTC007105	MANMET ENGINEERING PRODUCTS PRIVATE LIMITED	Additional director	16-02-15	16-02-15	-	Active	NO

Name :

Mr. Guru Prasad Adyanthaya

Designation :

Whole Time Director

Address :

SP 3, Hisgrace, Condominium Martin Pais Road, Hat Hill, Mangalore-575006, Dakshina Kannada, Karnataka, India

Date of Birth/Age :

10.09.1953

Date of Appointment :

01.10.2012

DIN No.:

00043142

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	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Whole-time director	01-10-12	26-11-75	-	Active	NO
2	U29113KA1979PTC003671	LAMINA ENGINEERING COMPANY PRIVATE LIMITED	Director	04-12-79	04-12-79	-	Amalgamated	NO
3	U85110KA1981PLC004151	LAMINA FOUNDRIES LIMITED	Director	19-03-81	19-03-81	-	Active	NO
4	U85110KA1989PTC009866	PADMASHREE HOSPITAL AND RESEARCH CENTRE PRIVATE LIMITED	Managing director	01-02-91	01-02-91	-	Active	NO
5	U65992KA1993PTC014700	LAMINA INVESTMENTS PRIVATE LIMITED	Director	01-09-93	01-09-93	-	Active	NO
6	U85110KA1992PTC013227	ELESPEE PRODUCTS PRIVATE LIMITED	Director	08-09-95	08-09-95	-	Active	NO
7	U27101KA1985PTC007105	MANMET ENGINEERING PRODUCTS PRIVATE LIMITED	Additional director	16-02-15	16-02-15	-	Active	NO

Name :

Mr. Vishal Hegde

Designation :

Director

Address :

Sadanand Shiv Bagh, Kadri, Dakshina Kannada, Mangalore-575002 Karnataka, India

Date of Birth/Age :

03.10.1971

Date of Appointment :

23.10.1998

DIN No.:

00043245

Name :

Mr. Jayaram Mulloly

Designation :

Director

Address :

Pusha Marnamikatta, Dakshina Kannada, Mangalore-575001 Karnataka, India

Date of Birth/Age :

14.02.1942

Date of Appointment :

30.09.1996

DIN No.:

00043335

Name :

Mr. Avinash Shenoy

Designation :

Director

Address :

Vaishalya, M G Road, Kodialguthu West, Mangalore-575003, Dakshina Kannada, Karnataka, India

Date of Birth/Age :

21.11.1977

Date of Appointment :

17.08.2007

DIN No.:

00043540

Other Directorship:

Name :

Mr. Surendra Jayaram Reddy

Designation :

Director

Address :

12/13, Langford Road, Bangalore-560025, Karnataka, India

Date of Birth/Age :

26.06.1937

Date of Appointment :

08.09.2008

DIN No.:

00109421

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	U29253KA1968PTC001766	BANGALORE PENTA-TECH ENGINEERING PRIVATE LIMITED	Director	22-11-68	22-11-68	10-12-10	Active	NO
2	U24210KA1972PLC002255	PROMAC ENGINEERING INDUSTRIES LIMITED	Managing director	01-04-13	18-10-72	-	Active	NO
3	U51909KA1984PTC006257	J.S.ENTERPRISES PRIVATE LIMITED	Director	04-10-00	04-10-00	30-12-07	Strike off	NO
4	U26951UP1988PLC010111	JAYKAYCEM LIMITED	Director	29-05-01	29-05-01	-	Amalgamated	NO
5	U85110KA1981PLC004151	LAMINA FOUNDRIES LIMITED	Director	26-09-14	10-06-03	-	Active	NO
6	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Director	08-09-08	22-09-07	-	Active	NO
7	U74140DL2005PTC137679	POWERTEC ENGINEERING PRIVATE LIMITED	Director	30-09-10	12-07-10	-	Active	NO
8	U29220KA2013PTC068720	TAIHEIYO PROMAC ENGINEERING PRIVATE LIMITED	Director	23-04-13	23-04-13	-	Active	NO

Name :

Mr. Srinivas Bantwal Baliga

Designation :

Whole Time Director

Address :

Mizar Ramakrishna, Pais Compound, Mannagudda, Mangalore-575003, Dakshina Kannada, Karnataka, India

Date of Birth/Age :

01.12.1945

Date of Appointment :

26.09.2014

DIN No.:

00043194

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	U85110KA1981PLC004151	LAMINA FOUNDRIES LIMITED	Director	05-12-88	05-12-88	-	Active	NO
2	U85110KA1991PLC011617	LAMINA LEASING ANDFINANCE LIMITED	Managing director	07-03-13	30-01-91	-	Active	NO
3	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Whole-time director	26-09-14	01-11-13	-	Active	NO

Name :

Mr. Rajendra M.

Designation :

Whole Time Director

Address :

Inchara, ll Cross, Shivbaug, Mangalore-575002, Dakshina Kannda, Karnataka, India

Date of Birth/Age :

27.01.1951

Date of Appointment :

01.04.2015

DIN No.:

00136307

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	U85110KA1981PLC004151	LAMINA FOUNDRIES LIMITED	Director	05-12-88	05-12-88	-	Active	NO
2	U85110KA1991PLC011617	LAMINA LEASING ANDFINANCE LIMITED	Director	08-07-95	08-07-95	-	Active	NO
3	U27101KA1985PTC007105	MANMET ENGINEERING PRODUCTS PRIVATE LIMITED	Director	30-09-96	30-09-96	-	Active	NO
4	U85110KA1989PTC009866	PADMASHREE HOSPITAL AND RESEARCH CENTRE PRIVATE LIMITED	Director	30-09-96	30-09-96	-	Active	NO
5	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Director	01-04-15	01-11-13	-	Active	NO

MAJOR SHAREHOLDERS

Names of Shareholders	No. of Shares
N V Hedge	9395
T R Shenoy	14040
G P Adyanthaya	14319
Sujata V Hegde	571
Mohini R Shenoy	560
Nirmala Adyanthaya	523
Vishal Hegde	4770
Asha Y Ajila	157
Sumitra R Shetty	113
Sushmita Shetty	100
S S Adyanthaya	100
V Ravindra Babu	100
Poornima Shenoy	80
Avinash Shenoy	80
Sucharita R Hegde	100
D Vinaya Kumar	28

As on 26.09.2014

Category	Percentage
Directors or relatives of Directors	50.00
Other top fifty shareholders	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Automobile Leaf Springs.
Products :	Castings Automobile Castings Automotive Castings
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	USA UK Italy Taiwan South Korea France Saudi Arabia
Imports :	Not Available
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

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 :

550 (Approximately)

Bankers :

Bank Name	Syndicate Bank
Branch	Hampankatta Branch, Mangalore-575001, Karnataka, 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

• Corporation Bank, Vishwa Kamala Building, Main Road, Baikampady, Mangalore-575011, Karnataka, India
• Andhra Bank, Ajanta Complex, Hampankatta, Mangalore-575001, Karnataka, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term Loan From Bank	4.394	22.527
Term Loan From Co-Operative Bank	2.212	4.109
Short-term borrowings
Loans repayable on demand
Working Capital from Banks	96.491	95.334
Total	103.097	121.97

Auditors :
Name :	G Hariram Shenoy Chartered Accountant Chartered Accountants
Address :	No. 5 and 6 Sevashram Apartments, Bunts Hostel Road, Mangalore-575003, Karnataka, India
PAN N Income-tax PAN of auditor or auditor's firm :	ANGPS3432D
Memberships :	Not Available
Collaborators :	Not Available
Associates:	Manmet Engineering Products Private Limited Elespee Products Private Limited Lamina International
Subsidiary:	Lamina Foundries Limited

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.500/- each	Rs.25.000 Million
50000	Preference Shares	Rs.100/-each	Rs.5.000 Million
	Total		Rs.30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
46935	Equity Shares	Rs.500/- each	Rs.23.468 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	23.468	23.468	23.468
(b) Reserves & Surplus	33.480	31.803	30.783
(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)	56.948	55.271	54.251
(3) Non-Current Liabilities
(a) long-term borrowings	156.671	176.045	126.583
(b) Deferred tax liabilities (Net)	1.405	1.659	1.445
(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)	158.076	177.704	128.028
(4) Current Liabilities
(a) Short term borrowings	96.491	95.334	84.921
(b) Trade payables	133.510	129.575	149.299
(c) Other current liabilities	44.312	66.856	87.661
(d) Short-term provisions	0.885	0.792	23.871
Total Current Liabilities (4)	275.198	292.557	345.752
TOTAL	490.222	525.532	528.031
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	92.980	100.931	101.011
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	5.646
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	17.406	17.406	17.406
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	5.721	6.071	6.026
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	116.107	124.408	130.089
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	161.121	172.739	167.601
(c) Trade receivables	175.452	174.500	184.935
(d) Cash and cash equivalents	27.806	39.557	28.466
(e) Short-term loans and advances	9.736	14.328	16.940
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	374.115	401.124	397.942
TOTAL	490.222	525.532	528.031

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	725.571	750.203	799.099
	Other Income	7.510	8.167	2.615
	TOTAL	733.081	758.370	801.714
Less	EXPENSES
	Cost of Materials Consumed	493.390	472.536	513.396
	Purchases of Stock-in-Trade	35.860	46.670	47.251
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(20.349)	11.947	0.587
	Employees benefits expense	106.499	103.997	94.443
	Other expenses	52.321	52.022	53.931
	TOTAL	667.721	687.172	709.608
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	65.360	71.198	92.106
Less	FINANCIAL EXPENSES	52.525	58.768	50.987
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	12.835	12.430	41.119
Less	DEPRECIATION/ AMORTISATION	10.109	9.988	9.577
	PROFIT/ (LOSS) BEFORE TAX	2.726	2.442	31.542
Less	TAX	0.631	1.006	10.354
	PROFIT/ (LOSS) AFTER TAX	2.095	1.436	21.188
	Earnings / (Loss) Per Share (Rs.)	44.64	30.60	451.43

The above information has been parted by Mr. Avinash (Director)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	14.731	1.253	24.044
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.29	0.19	2.65
Operating Profit Margin (PBIDT/Sales)	(%)	9.01	9.49	11.53
Return on Total Assets (PBT/Total Assets}	(%)	0.58	0.48	6.25
Return on Investment (ROI) (PBT/Networth)		0.05	0.04	0.58
Debt Equity Ratio (Total Debt /Networth)		4.70	4.93	4.34
Current Ratio (Current Asset/Current Liability)		1.36	1.37	1.15

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	23.468	23.468	23.468
Reserves & Surplus	30.783	31.803	33.480
Net worth	54.251	55.271	56.948
long-term borrowings	126.583	176.045	156.671
Short term borrowings	84.921	95.334	96.491
Current Maturities of Long-Term Debts	24.044	1.253	14.731
Total borrowings	235.548	272.632	267.893
Debt/Equity ratio	4.342	4.933	4.704

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	799.099	750.203	725.571
		(6.119)	(3.283)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	799.099	750.203	725.571
Profit	21.188	1.436	2.095
	2.65%	0.19%	0.29%

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	Yes
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)	Yes
16	No. of employees	Yes
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	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	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Deposits From Director	78.605	78.905
Deposits From Shareholders and Others	26.630	25.098
Other Loans and Advances	44.830	45.406
Total	150.065	149.409

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10304754	19/11/2012 *	257,500,000.00	SYNDICATE BANK	Hampankatta Branch, Mangalore, Karnataka – 575001, INNDIA	B64055841
2	10127740	05/11/2012 *	46,000,000.00	Corporation Bank	Vishwa Kamala Building, Main Road, Baikampady, Mangalore, Karnataka – 575011, INDIA	B61489746

FIXED ASSETS

Tangible Assets

• Freehold Land
• Building
• General Machinery
• Furniture and Fixtures
• Office Appliances
• Vehicles
• Plant and Machinery

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.63.76
UK Pound	1	Rs.97.80
Euro	1	Rs.69.91

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KIN
Report Prepared by :	SUD

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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		33

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.