MIRA INFORM REPORT

Report No. :	349682
Report Date :	17.11.2015

IDENTIFICATION DETAILS

Name :	TIRUPATI PLASTOMATICS PRIVATE LIMITED

Registered Office :	B-141-A, Road No. 9-D, V.K.I. Area, Jaipur – 302013, Rajasthan
Tel. No.:	91-141-2332902/ 2331030/ 2461030/ 2330305/ 2330427/ 2230381/ 2235649

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	07.05.1987

Com. Reg. No.:	17-003961

Capital Investment / Paid-up Capital :	Rs. 20.000 Million

CIN No.: [Company Identification No.]	U25209RJ1987PTC003961

IEC No.:	Not Divulged

TAN No.: [Tax Deduction & Collection Account No.]	JPRT00361E

PAN No.: [Permanent Account No.]	AAACT5317J

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Sewer Drainage and Corrugated Drainage, etc.

No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	Clear

Comments :	Subject was incorporated in the year 1987 engaged in manufacturing of cables. Its products include lactate threshold power cables, aerial cables, control cables, instrumentation cables, thermocouple cables and railway signaling cables etc. Rating takes into consideration stretched liquidity position of the company evident in its high utilization of working capital limits on account of build-up of inventory levels along with decline in company’s operating income in FY 2014 over FY 2013 and the highly competitive nature of the industry. Rating further constrained on account of company’s moderate financial profile marked by low net worth base and modest debt protection indicators of the company. Payments are reported to be slow. In view of aforesaid, the company can be considered for business dealing with some 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

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	Fund Based Limits (Suspended) = D
Rating Explanation	Lowest-credit-quality and very low prospects of recovery
Date	October 2015

Rating Agency Name	ICRA
Rating	Non-Fund Based Limits (Suspended) = D
Rating Explanation	Instruments with this rating are in default or expected to be in default on maturity
Date	October 2015

Reason for suspension: Absence of adequate information.

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

Name :	Mr. Ravi Gemini
Designation :	Director
Contact No.:	91-9829013043
Date :	16.11.2015

LOCATIONS

Registered Office :	B-141-A, Road No. 9 – D, V.K.I. Area, Jaipur – 302013, Rajasthan, India
Tel. No.:	91-141-2332902/ 2331030/ 2461030/ 2330305/ 2330427/ 2230381/ 2235649
Mobile No.:	91-9829013043 (Mr. Ravi Gemini) 91-7210113776 (Mr. Kapil Gemini) 91-9413340804 (Mr. Oak)
Fax No.:	91-141-2331808/ 2260073
E-Mail :	support@geminicable.com tirupati@yahoo.com contact@tirupatiplastomatics.com
Website :	http://www.tirupatiplastomatics.com
Area :	1000 Sq. Ft.
Location :	Owned
Locality :	Commercial

Factory :	F-543, Road No.6-D, V.K.I. area, Jaipur, Rajasthan, India

DIRECTORS

AS ON 31.03.2015

Name :

Mr. Ravi Gemini

Designation :

Director

Address :

D-240, Behari Marg, Bani Park, Jaipur – 302006, Rajasthan, India

Date of Birth/Age :

10.12.1974

Qualification :

B. Sc.

Date of Appointment :

15.12.2012

PAN No.:

AAPPG1987K

DIN No.:

00057572

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	U45201RJ2006PLC022536	KIRAN INFRA ENGINEERS LIMITED	Director	19/05/2006	19/05/2006	-	Active	NO
2	U25209RJ1987PTC003961	TIRUPATI PLASTOMATICS PRIVATE LIMITED	Whole-time director	15/12/2012	16/11/2006	-	Active	NO
3	U20219RJ2006PTC022521	SUNCARE ENTERPRISES PRIVATE LIMITED	Whole-time director	20/08/2007	19/05/2007	02/07/2013	Active	NO
4	U45203RJ2007PTC024552	KANUHA INFRA ENGINEERS PRIVATE LIMITED	Director	06/06/2007	06/06/2007	-	Active	NO
5	U29299RJ1995PTC010830	EQUITY FORGING PRIVATE LIMITED	Whole-time director	20/08/2007	08/08/2007	-	Active	NO
6	U27109RJ2010PLC032822	KIRAN INFRA ISPAT LIMITED	Director	15/09/2010	15/09/2010	-	Active	NO

Name :

Mr. Radhey Shyam Gemini

Designation :

Director

Address :

D-240, Behari Marg, Bani Park, Jaipur – 302006, Rajasthan, India

Date of Birth/Age :

15.02.1951

Qualification :

B.A.

Date of Appointment :

07.05.1987

PAN No.:

ABIPG1420B

DIN No.:

00108706

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	U25209RJ1987PTC003961	TIRUPATI PLASTOMATICS PRIVATE LIMITED	Director	07/05/1987	07/05/1987	-	Active	NO
2	U31300RJ2003PTC018364	KANHHA CABLES PRIVATE LIMITED	Director	10/06/2003	10/06/2003	13/09/2011	Active	NO
3	U45201RJ2006PLC022536	KIRAN INFRA ENGINEERS LIMITED	Managing director	01/01/2013	19/05/2006	-	Active	NO
4	U45203RJ2007PTC024552	KANUHA INFRA ENGINEERS PRIVATE LIMITED	Director	06/06/2007	06/06/2007	-	Active	NO
5	U29299RJ1995PTC010830	EQUITY FORGING PRIVATE LIMITED	Whole-time director	20/08/2007	08/08/2007	-	Active	NO
6	U74140RJ2009NPL028759	ELECTRICAL TECHNOLOGY PARK OF INDIA	Director	28/04/2009	28/04/2009	-	Active	NO
7	U27109RJ2010PLC032822	KIRAN INFRA ISPAT LIMITED	Director	15/09/2010	15/09/2010	-	Active	NO

Name :

Mrs. Megha Gemini

Designation :

Director

Address :

D-240, Behari Marg, Bani Park, Jaipur – 302006, Rajasthan, India

Date of Birth/Age :

16.02.1980

Date of Appointment :

15..12.2012

DIN No.:

01524990

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	U31300RJ2003PTC018364	KANHHA CABLES PRIVATE LIMITED	Director	29/09/2007	15/11/2006	15/12/2011	Active	NO
2	U01119RJ2007PTC023639	SUNGOLD ENTERPRISES PRIVATE LIMITED	Director	20/03/2008	20/02/2008	-	Active	NO
3	U25191RJ2006PTC022922	PRATEEK AGROPIPES PRIVATE LIMITED	Director	28/04/2009	28/04/2009	-	Active	NO
4	U25209RJ1987PTC003961	TIRUPATI PLASTOMATICS PRIVATE LIMITED	Whole-time director	15/12/2012	16/12/2011	-	Active	NO

Name :

Mrs. Shakuntala Gemini

Designation :

Additional Director

Address :

D - 240, Bihari Marg, Bani Park, Jaipur - 302006, Rajasthan, India

Date of Appointment :

09.03.2015

DIN No.:

01425124

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	U45201RJ2006PLC022536	KIRAN INFRA ENGINEERS LIMITED	Whole-time director	01/01/2013	19/05/2006	-	Active	NO
2	U20219RJ2006PTC022521	SUNCARE ENTERPRISES PRIVATE LIMITED	Whole-time director	20/08/2007	22/11/2006	02/07/2013	Active	NO
3	U25209RJ1987PTC003961	TIRUPATI PLASTOMATICS PRIVATE LIMITED	Additional director	09/03/2015	09/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Oak
Designation :	General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders		No. of Shares
R.S. Gemini		73164
Kishore Sharma		672
Paramhans Sharma		50
N.K. Sharma		450
S.K. Sharma		50
K.K. Sharma		457
Raenu Gemini		272
Ravi Gemini		51883
Ganga Sahay Sharma		1
Ram Sahay Sharma		1
Megha Gemini		18000
Shakuntala Gemini		55000
Total		200000

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 :

Manufacturer of Sewer Drainage and Corrugated Drainage, etc.

Products :

Item Code No. (ITC Code)	Product Description
85446020	Cables and wires
39172110	DWC Pipes

· Double wall Corrugated (DWC) Pipes

· Single Wall Corrugated (SWC) Pipes of HDPE

· The PLT Power Cables

· Aerial Cables

· Control Cables

· Instrumentation Cables

· Thermocouple Cables

· Railway Signalling Cables

· Buried Service Cables

· Installation Cables

· Flexible Cables

· Conductors

· Household and Domestic Cables

· Trailing Cables

· Mining Cable

· FRLS Cables

· HR Cables

· Submersible Cables

· Custom Made Cables

· PVC: Retardant/ Polythene insulated cables, Unsheathed/ Sheathed, Armored/ Unarmored and Screened/ Unscreened types including Power, Control, Submersible, Telecoms, Coaxial, Radio frequency, Computer, HF, VHF, UHF, Railway signaling (Indoor), etc.

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

UK
USA
Australia
Africa
Malaysia

Imports :

Products :

Raw Material

Countries :

Hong Kong

Terms :

Selling :

Cash and Credit (30/60/90 Days)

Purchasing :

Cash and Credit (30/60/90 Days)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Reliance Industries Limited
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 :

Wholesalers and Retailers

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

BSNL
TATA
Indian Railways

No. of Employees :

100 (Approximately)

Bankers :

Bank Name	Kotak Mahindra Bank Limited
Branch	36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai – 400021, Maharashtra, India
Person Name (With Designation)	Not Available
Contact Number	91-22-66341110 (Number not responding)
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Bank of Baroda, V.K.I. Area Branch, Jaipur – 302013, Rajasthan, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans banks secured	36.492	50.952

Short-term borrowings
Working capital loans banks secured	48.713	74.297
Total	85.205	125.249

Auditors :
Name :	Dhoot and Associates Chartered Accountants
Address :	F-3, Ramesh Marg, C-Scheme, Jaipur – 302001, Rajasthan, India
PAN No. of Auditors Firm:	AACFD2364C

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

200000	Equity Shares	Rs. 100/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

200000	Equity Shares	Rs. 100/- each	Rs. 20.000 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	20.000	20.000	20.000
(b) Reserves & Surplus	63.286	61.169	55.710
(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)	83.286	81.169	75.710

(3) Non-Current Liabilities
(a) long-term borrowings	89.484	100.585	144.659
(b) Deferred tax liabilities (Net)	1.226	1.263	0.817
(c) Other long term liabilities	4.863	3.458	4.610
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	95.573	105.306	150.086

(4) Current Liabilities
(a) Short term borrowings	48.713	74.297	57.595
(b) Trade payables	294.099	345.129	264.658
(c) Other current liabilities	38.253	45.693	34.459
(d) Short-term provisions	5.866	3.912	4.630
Total Current Liabilities (4)	386.931	469.031	361.342

TOTAL	565.790	655.506	587.138

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	43.457	48.580	50.147
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	74.048	74.048	74.048
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	8.442	8.598	15.359
(e) Other Non-current assets	8.693	2.916	2.534
Total Non-Current Assets	134.640	134.142	142.088

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	227.790	239.187	198.436
(c) Trade receivables	112.552	172.875	157.631
(d) Cash and cash equivalents	1.941	8.003	2.577
(e) Short-term loans and advances	74.183	84.075	72.697
(f) Other current assets	14.684	17.224	13.709
Total Current Assets	431.150	521.364	445.050

TOTAL	565.790	655.506	587.138

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	891.665	1033.147	838.200
	Other Income	4.815	8.194	9.654
	TOTAL SALES	896.480 (Due to Market Fluctuation)	1041.341	847.854

Less	TOTAL EXPENSES	840.326	975.221	803.527

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	56.154	66.120	44.327

Less	FINANCIAL EXPENSES	44.851	51.558	28.126

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	11.303	14.562	16.201

Less	DEPRECIATION/ AMORTISATION	6.795	7.616	7.795

	PROFIT/ (LOSS) BEFORE TAX	4.508	6.946	8.406

Less	TAX	2.391	1.487	2.826

	PROFIT/ (LOSS) AFTER TAX	2.117	5.459	5.580

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	59.655	54.196	48.616

	BALANCE CARRIED TO THE BALANCE SHEET	61.772	59.655	54.196

	EARNINGS / (LOSS) PER SHARE (RS.)	10.59	27.30	27.90

Particulars

31.03.2015

Sales Turnover (Approximately)

1300.000

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

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Cash generated from (Used) operations	NA	NA	NA
Cash generated from Operating Activities	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.24	0.53	0.67

Operating Profit Margin (PBIDT/Sales)	(%)	6.30	6.40	5.29

Return on Total Assets (PBT/Total Assets}	(%)	0.92	1.19	1.64

Return on Investment (ROI) (PBT/Networth)		0.05	0.09	0.11

Debt Equity Ratio (Total Debt /Networth)		1.66	2.15	2.67

Current Ratio (Current Asset/Current Liability)		1.11	1.11	1.23

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	20.000	20.000	20.000
Reserves & Surplus	55.710	61.169	63.286
Net worth	75.710	81.169	83.286

long-term borrowings	144.659	100.585	89.484
Short term borrowings	57.595	74.297	48.713
Total borrowings	202.254	174.882	138.197
Debt/Equity ratio	2.671	2.155	1.659

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	838.200	1033.147	891.665
		23.258	(13.694)

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	838.200	1033.147	891.665
Profit	5.580	5.459	2.117
	0.67%	0.53%	0.24%

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)	No
16	No. of employees	Yes
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%	Yes
28	Estimation for coming financial year	Yes
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

GENERAL REVIEW:

Directors Report that performance of the company is not Satisfactory during the year. The Company has decreased its turnover in compare to previous year. The Company could not achieve its target due to adverse market situation. We hope that the company shall be able to improve its performance in the year to come. The future of the Company seems to be bright.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and advances from Directors	0.000	41.042
Loans and advances from Others	52.993	8.591
Total	52.993	49.633

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10571472	23/12/2014	2,000,000.00	STATE BANK OF BIKANER AND JAIPUR	VIDYADHAR NAGAR, JAIPUR, RAJASTHAN - 302012, INDIA	C54697628
2	10345535	07/11/2012 *	101,500,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, M UMBAI, MAHARASHTRA - 400021, INDIA	B62332119
3	10170355	30/06/2009	6,000,000.00	Bank of Baroda	V K I AREA BRANCH, JAIPUR, RAJASTHAN - 302013, INDIA	A67185496
4	10064164	13/08/2007	6,000,000.00	Bank of Baroda	V K I AREA BRANCH, JAIPUR, RAJASTHAN - 302013, INDIA	A21258504
5	10001476	21/04/2006	15,500,000.00	Bank of Baroda	VKI AREA, JAIPUR, RAJASTHAN - 302013, INDIA	A00455683
6	90068983	31/03/2010 *	220,000,000.00	Bank of Baroda	V K I AREA BRANCH, JAIPUR, RAJASTHAN - 302017, INDIA	A83646786
7	90070153	25/03/2013 *	520,000,000.00	Bank of Baroda	VKI AREA BRANCH, JAIPUR, RAJASTHAN - 302013, INDIA	B71348015

FIXED ASSETS

Land and Building
Furniture’s and Fixtures
Office Equipment
Computer
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. 66.17
UK Pound	1	Rs. 100.66
Euro	1	Rs. 70.97

INFORMATION DETAILS

Information Gathered by :	PPT

Analysis Done by :	KRN

Report Prepared by :	SYL

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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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