MIRA INFORM REPORT

Report No. :	349229
Report Date :	13.11.2015

IDENTIFICATION DETAILS

Name :	POOJA FORGE LIMITED
Formerly Known As :	POOJA FORGE PRIVATE LIMITED
Registered Office :	101, Sukhdev Vihar, New Delhi - 110025
Tel. No.:	91-11-26830500
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.09.1986
Com. Reg. No.:	55-025557
Capital Investment / Paid-up Capital :	Rs. 9.629 Million
CIN No.: [Company Identification No.]	U27310DL1986PLC025557
IEC No.:	0597032041
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACP0136B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of High Tensile Fasteners.
No. of Employees :	1000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was established in 1986 by the Faridabad (Haryana)-based Aggarwal family. The company manufactures fasteners, primarily including precision cold, warm, hot forged high-tensile bolts, screws, nuts and custom-built parts for auto components. The company has its manufacturing facility in Faridabad and is promoted by Mr. JK Aggarwal and his son Mr. Manish Aggarwal. It has fine track record. The company possesses a healthy financial profile marked by adequate networth base along with fair liquidity, low gearing and profitability. The rating also takes into consideration company’s established position in the auto ancillary industry driven by its diversified clientele and presence among several market segments. Trade relations are fair. Business is active. Payment are reported to be regular and as per commitments. In view of promoters experience in the auto ancillary industry, 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 – 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 = A-
Rating Explanation	Having adequate degree of safety and carry low credit risk.
Date	28.07.2015

Rating Agency Name	CRISIL
Rating	Short term rating = A2+
Rating Explanation	Having strong degree of safety and carry low credit risk.
Date	28.07.2015

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 31-03-2015.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Dipak
Designation :	Personal Assistant of Managing Director
Contact No.:	91-9717391408
Date :	09.11.2015

LOCATIONS

Registered Office :	101, Sukhdev Vihar, New Delhi – 110025, India
Tel. No.:	91-11-26830500
Mobile No.:	91-9717391408 [Mr. Dipak]
Fax No.:	Not Available
E-Mail :	maggarwal@poojaforgeltd.com manish@poojaforgeltd.com exports@poojaforgeltd.com gcdas@poojaforgeltd.com
Website :	http://www.poojaforgeltd.com
Corporate Office/ Factory 1 :	14/4, Delhi Agra Road, Faridabad - 121003, Haryana, India
Tel. No.:	91-129-4046809/ 4046707
Fax No.:	91-129-4046708/ 2270719
Factory 2 :	49.8 Km Stone, Delhi Agra Road, P.O. Bhagola, Palwal – 121102, Haryana, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Jagdish Kumar Aggarwal

Designation :

Managing director

Address :

101, Sukhdev Vihar, New Delhi – 110025, India

Date of Birth/Age :

18.11.1938

Qualification :

Graduate

Date of Appointment :

01.04.2012

PAN No.:

AAAPA4323Q

DIN No.:

00024816

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	Company/ LLP Status	Defaulting status
1	U74899DL1986PTC026048	MANISHA EXPORTS PRIVATE LIMITED	Director	16/01/1989	16/01/1989	Active	NO
2	U74899DL1987PTC027359	VOLTARC INDUSTRIES PRIVATE LIMITED	Director	14/12/1995	14/12/1995	Converted to LLP and dissolved	NO
3	U27310DL1986PLC025557	POOJA FORGE LIMITED	Managing director	01/04/2012	01/04/2002	Active	NO
4	U74899DL1980PTC010337	PERFECT METRICS INDIA PRIVATE LIMITED	Director	08/12/2004	08/12/2004	Converted to LLP and dissolved	NO
5	U74140DL1976PLC008269	PERFECT FASTENERS LIMITED	Director	12/12/2006	12/12/2006	Active	NO
6	U74899DL1987PTC027356	MADHVI INDUSTRIES PRIVATE LIMITED	Director	21/06/2013	21/06/2013	Converted to LLP and dissolved	NO
7	U74140DL2013PTC256655	POOJA FORGINGS PRIVATE LIMITED	Director	16/08/2013	16/08/2013	Active	NO
8	AAD-1139	VOLTARC INDUSTRIES LLP	Designated Partner	26/12/2014	26/12/2014	Active	NO
9	AAD-1559	MADHVI INDUSTRIES LLP	Designated Partner	07/01/2015	07/01/2015	Active	NO
10	AAD-2087	PERFECT METRICS INDIA LLP	Designated Partner	16/01/2015	16/01/2015	Active	NO

Name :

Mr. Manish Aggarwal

Designation :

Managing director

Address :

101, Sukhdev Vihar, New Delhi – 110025, India

Date of Birth/Age :

10.09.1967

Qualification :

Graduate

Date of Appointment :

01.04.2012

PAN No.:

AAAPA4322R

DIN No.:

00610999

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	U74140DL1976PLC008269	PERFECT FASTENERS LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
2	U27310DL1986PLC025557	POOJA FORGE LIMITED	Managing director	01/04/2012	01/11/2002	-	Active	NO
3	U74899DL1987PTC027356	MADHVI INDUSTRIES PRIVATE LIMITED	Director	22/07/2006	22/07/2006	22/06/2013	Converted to LLP and dissolved	NO
4	U74899DL1980PTC010337	PERFECT METRICS INDIA PRIVATE LIMITED	Director	15/02/2008	15/02/2008	-	Converted to LLP and dissolved	NO
5	U28112DL2010PTC206908	FONTANA FASTENERS INDIA PRIVATE LIMITED	Director	10/08/2010	10/08/2010	-	Active	NO
6	U29220HR2010FTC041739	SATO POOJA FASTENERS PRIVATE LIMITED	Director	23/12/2010	23/12/2010	-	Active	NO
7	AAD-2087	PERFECT METRICS INDIA LLP	Designated Partner	16/01/2015	16/01/2015	-	Active	NO

Name :

Mr. Kailash Moudgil

Designation :

Whole-time director

Address :

H. No. 642, Sector 29, Faridabad – 121008, Haryana, India

Date of Birth/Age :

15.07.1957

Qualification :

Graduate

Date of Appointment :

01.07.2006

DIN No.:

00407910

Name :

Mr. Mohinder Kumar Luthra

Designation :

Director

Address :

H. No. 19, Opposite Baba ICE, Plant Chawla Colony, Ballabgarh, Faridabad – 121004, Haryana, India

Date of Birth/Age :

21.12.1962

Qualification :

Graduate

Date of Appointment :

30.09.2013

DIN No.:

06626943

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	Company/ LLP Status	Defaulting status
1	U27310DL1986PLC025557	POOJA FORGE LIMITED	Director	30/09/2013	06/07/2013	Active	NO
2	U74140DL1976PLC008269	PERFECT FASTENERS LIMITED	Director	30/09/2014	29/03/2014	Active	NO

Name :

Kewal Krishan Dua

Designation :

Director

Address :

25C, DDA MIG Flats, Shivam Enclave, Zilmil, Delhi-110095, India

Date of Appointment :

27.03.2015

DIN No.:

00353809

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	U74140DL1999PTC097919	LEXUS IMPEX PRIVATE LIMITED	Director	16/06/2003	16/06/2003	06/12/2014	Active	NO
2	U27310DL1986PLC025557	POOJA FORGE LIMITED	Director	27/03/2015	27/03/2015	-	Active	NO

Name :

Mridul Tyagi

Designation :

Director

Address :

1/5532, Street-16,, Govind Marg, Balbir Nagar Extn., Shahdara-110032, Delhi, India

Date of Appointment :

27.03.2015

DIN No.:

06517640

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	U74900DL2013PTC250436	PACIFIC MARCOM PRIVATE LIMITED	Director	08/04/2013	08/04/2013	-	Active	NO
2	U27310DL1986PLC025557	POOJA FORGE LIMITED	Director	27/03/2015	27/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Dipak
Designation :	Personal Assistant of Managing Director

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Manish Aggarwal	337896
Jagdish Kumar Aggarwal	613304
Shashi Aggarwal	8200
Jagdish Kumar Aggarwal (HUF)	3400
Perfect Fasteners Limited	10
Manish Aggarwal (HUF)	45
J.K. Aggarwal and Manish Aggarwal	45
Total	962900

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of High Tensile Fasteners.

Products/ Services :

ITC Code No.	Product Descriptions
73181500	Nuts and Bolts

Brand Names :

--

Agencies Held :

--

Exports :

Products :

Finished Goods

Countries :

· European Countries

· United Kingdom

· United States of America

· South African Countries

Imports :

Products :

Raw Material

Countries :

· China

· Taiwan

· Japan

· Germany

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers, Retailers and Manufacturer

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

1000 (Approximately)

Bankers :

Bank Name:	State Bank of India
Branch:	Commercial Branch, Vardhman Trade Center, DDA Building, Nehru Place, New Delhi - 110019, 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 A/c Opening):	Not Available
Average Balance Maintained (Optional):	Not Available
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Available
Account Operation:	Not Available
Remarks: Not Available

· Bank of India,

Okhla Industrial Estate, New Delhi, India

· Punjab National Bank

Okhla Industrial Estate, New Delhi, India

· Standard Chartered Bank

9-10, Bahadur Shah, Zafar Marg, New Delhi, Delhi - 110002, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Rupee term loans from banks	76.447	95.281
SHORT TERM BORROWINGS
Working capital loans from banks	368.863	503.498
Total	445.310	598.779

Auditors :
Name :	T.K. Gupta and Associates Chartered Accountants
Address :	4228/1 Ansari Road, Darya Ganj, New Delhi, India
Income-tax PAN of auditor or auditor's firm :	AABFT1801B
Enterprises in which Key management personnel and their relatives and company are able to exercise significant influence :	· Perfect Fasteners Limited [U74140DL1976PLC008269] · Perfect Metrics India Private Limited [U74899DL1980PTC010337] · Madhvi Engineering Industries Private Limited [U74899DL1987PTC027356] · Sato Pooja Fasteners Private Limited [U29220HR2010FTC041739]

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs. 10/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
962,900	Equity Shares	Rs. 10/- each	Rs. 9.629 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	9.629	9.629	9.629
(b) Reserves & Surplus	1057.037	955.748	870.167
(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)	1066.666	965.377	879.796
(3) Non-Current Liabilities
(a) Long-term borrowings	110.363	153.912	59.183
(b) Deferred tax liabilities (Net)	121.944	112.148	107.990
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	3.760	3.760	3.759
Total Non-current Liabilities (3)	236.067	269.820	170.932
(4) Current Liabilities
(a) Short term borrowings	368.863	503.498	388.266
(b) Trade payables	144.907	112.854	112.773
(c) Other current liabilities	94.581	37.564	46.577
(d) Short-term provisions	51.167	45.981	54.641
Total Current Liabilities (4)	659.518	699.897	602.257
TOTAL	1962.251	1935.094	1652.985
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1028.134	991.161	938.967
(ii) Intangible Assets	5.113	6.959	8.805
(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	4.907	4.907	4.907
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	25.574	13.054	11.504
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1063.728	1016.081	964.183
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	292.830	301.355	214.614
(c) Trade receivables	408.256	364.958	326.703
(d) Cash and cash equivalents	106.612	159.395	49.943
(e) Short-term loans and advances	73.482	76.563	71.015
(f) Other current assets	17.343	16.742	26.527
Total Current Assets	898.523	919.013	688.802
TOTAL	1962.251	1935.094	1652.985

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	2058.464	1954.288	2073.387
		Other Income	32.639	18.421	1.824
		TOTAL (A)	2091.103	1972.709	2075.211
Less	EXPENSES
		Cost of Materials Consumed	1095.150	1100.862	1043.385
		Purchases of Stock-in-Trade	7.402	9.673	8.664
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(10.543)	(112.549)	10.709
		Employees benefits expense	177.330	169.910	160.527
		Other expenses	559.104	569.803	557.685
		Extraordinary Items	(0.151)	0.404	0.028
		TOTAL (B)	1828.292	1738.103	1780.998
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		262.811	234.606	294.213
Less	FINANCIAL EXPENSES (D)		55.307	53.540	73.342
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		207.504	181.066	220.871
Less/ Add	DEPRECIATION/ AMORTISATION (F)		58.425	53.227	46.609
	PROFIT BEFORE TAX (E-F) (G)		149.079	127.839	174.262
Less	TAX (H)		47.790	42.258	57.667
	PROFIT AFTER TAX (G-H) (I)		101.289	85.581	116.595
	EARNINGS IN FOREIGN CURRENCY
		FOB value of Exports	306.312	227.517	294.097
	IMPORTS
		Raw Materials	481.136	652.174	311.884
		Stores & Spares	9.453	9.455	10.673
		Capital Goods	48.900	62.298	86.243
	TOTAL IMPORTS		539.489	723.927	408.800
	Earnings Per Share (Rs.)		105.19	88.88	121.09

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	65.029	0.893	0.000
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	157.797	240.539	412.997

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	4.92	4.38	5.62
Operating Profit Margin (PBDIT/Sales)	(%)	12.77	12.00	14.19
Return on Total Assets (PBT/Total Assets}	(%)	7.62	6.62	10.57
Return on Investment (ROI) (PBT/Networth)		0.14	0.13	0.20
Debt Equity Ratio (Total Debt/Networth)		0.51	0.68	0.51
Current Ratio (Current Asset/Current Liability)		1.36	1.31	1.14

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	9.629	9.629	9.629
Reserves & Surplus	870.167	955.748	1057.037
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	879.796	965.377	1066.666
long-term borrowings	59.183	153.912	110.363
Short term borrowings	388.266	503.498	368.863
Current maturities of long-term debts	0.000	0.893	65.029
Total borrowings	447.449	658.303	544.255
Debt/Equity ratio	0.509	0.682	0.510

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	2073.387	1954.288	2058.464
		(5.744)	5.331

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	2073.387	1954.288	2058.464
Profit	116.595	85.581	101.289
	5.62%	4.38%	4.92%

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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10518756	24/06/2014	150,000,000.00	STANDARD CHARTERED BANK	9-10 BAHADUR SHAH ZAFAR MARG, NEW DELHI, DELHI - 110002, INDIA	C19720770
2	10054220	16/04/2007	10,000,000.00	STATE BANK OF INDORE	KHANDELWAL CHAMBERS, MHOW NEEMUCH ROAD SECTOR-I,  PITHAMPUR, MADHYA PRADESH - 454775, INDIA	A16278384
3	90043531	17/04/2014 *	559,500,000.00	STATE BANK OF INDIA	STATE BANK OF INDIA, 70, GROUND FLOOR NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	C02497832
4	90043529	01/09/2003 *	20,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH; VARDMAN TRADE CENTER, PLOT NO 3 & 4; DDA BUILDING; NEHRU PLACE, NEW DELHI, DELHI, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Loans and advances from related parties	27.794	57.118
Other loans and advances	6.122	1.513
Total	33.916	58.631

FUTURE PROSPECTS

Future prospects of the company are looking bright as Indian economy is now out of recession and automobile sector is expected to perform better in the year to come and they are hopeful of their satisfactory performance in coming years.

CONTINGENT LIABILITIES (AS ON 31.03.2014):

1) Demand of Rs. 1.741 Million of service tax: - The appeal of this demand is pending before commissioner (Appeal) Central excise. Rs.1.021 Million pertains to F.Y.2008-2009 and Rs.0.720 Million pertains to F.Y.2009-2010.

2) Demand of Rs.0.753 Million of GTA for F.Y. 2010-2011 contested by the company in an appeal before Additional Commissioner, Central Excise is pending

3) Demand of Rs.0.950 Million of service tax (GTA) for the period March 2011 to December 2011 pending before Additional Commissioner C.E. Delhi Range- IV, Faridabad

4) Excise Department has issued so cause notice dated 18/04/2013 raising excise demand of Rs.2.699 Million against which co. has decided to take appropriate action in due course.

FIXED ASSETS:

· Land

· Buildings

· Plant and equipment

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipments

· Other equipments

· Know-how

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. 66.13
UK Pound	1	Rs. 100.53
Euro	1	Rs. 71.26

INFORMATION DETAILS

Information Gathered by :	KAM
Analysis Done by :	RAS
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--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		53

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.