MIRA INFORM REPORT

Report No. :	351041
Report Date :	30.11.2015

IDENTIFICATION DETAILS

Name :	C A GALIAKOTWALA AND COMPANY PRIVATE LIMITED

Registered Office :	125, Nagindas Master Road, Fort, Mumbai-400023, Maharashtra
Tel. No.:	91-22-22854072

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	14.12.1939

Com. Reg. No.:	11-003046

Capital Investment / Paid-up Capital :	Rs. 2.400 Million

CIN No.: [Company Identification No.]	U51900MH1939PTC003046

IEC No.:	0388011564

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

PAN No.: [Permanent Account No.]	AAACC2925K

Legal Form :	Private Limited Liability Company

Line of Business :	Trader of Cotton Bales and Yarn.

No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 487000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Exist

Comments :	Subject was incorporated in the year 1939 having satisfactory track. It is a trader of cotton bales and yarn. The company possesses decent net worth base marked by fair profitability margin, good liquidity position and favorable gap between trade payables and receivables. Trade relation are fair. Business is active. Payments are usually correct. The company can be considered for business dealing at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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

EXTERNAL AGENCY RATING

Rating Agency Name	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 31-03-2015.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Deepak Choksi
Designation :	Accountant
Contact No.:	91-22-22843758
Date :	27.11.2015

LOCATIONS

Registered Office :	125, Nagindas Master Road, Fort, Mumbai-400023, Maharashtra, India
Tel. No.:	91-22-22854072
Fax No.:	91-22-22048801
E-Mail :	accounts@galiakotwala.com trading@galiakotwala.com
Website :	www.galiakotwala.com
Location :	Commercial

Administrative Office :	66, Maker Chambers III, 223 Jamnalal Bajaj Road, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-22843758
Fax No.:	91-22-22048801

DIRECTORS

As on 29.09.2014

Name :

Mr. Harshad Chhotalal Sheth

Designation :

Director

Address :

7/A Geetanjali, Naoroji Gamadia Cross Road, Off Peddar Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

10.03.1942

Date of Appointment :

29.08.1969

DIN No.:

00045435

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	U51900MH1939PTC003046	C A GALIAKOTWALA AND COMPANY PRIVATE LIMITED	Director	29/08/1969	29/08/1969	-	Active	NO
2	U24110MH1941PTC003381	ADVANCE PAINTS PRIVATE LIMITED	Managing director	24/05/1973	24/05/1973	-	Active	NO
3	U74999MH1947PLC005875	GALIAKOTWALA ESTATE LTD	Director	22/08/1986	22/08/1986	-	Under Process of Striking off	NO
4	U65910MH1990PLC058983	GALIAKOTWALA INVESTMENT SERVICES LIMITED	Director	15/11/1990	15/11/1990	-	Active	NO
5	U29299MH1991PTC061083	GALIAKOTWALA ENGINEERING COMPANY PRIVATE LIMITED	Director	08/04/1991	08/04/1991	-	Active	NO
6	U51900MH1996PTC095870	GALIAKOTWALA INTERNATIONAL PRIVATE LIMITED	Director	03/01/1996	03/01/1996	-	Active	NO
7	U28992MH1997PTC107569	T AND D GALIAKOT CONTAINERS PRIVATE LIMITED	Director	25/04/1997	25/04/1997	-	Active	NO

Name :

Mr. Mahendra Chhotalal Sheth

Designation :

Director

Address :

51, Shivtirth No. 1, 4/6, B Desai Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

22.12.1948

Date of Appointment :

07.03.1986

DIN No.:

00056975

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	U51900MH1939PTC003046	C A GALIAKOTWALA AND COMPANY PRIVATE LIMITED	Director	07/03/1986	07/03/1986	-	Active	NO
2	U24110MH1941PTC003381	ADVANCE PAINTS PRIVATE LIMITED	Director	07/03/1986	07/03/1986	-	Active	NO
3	U65910MH1990PLC058983	GALIAKOTWALA INVESTMENT SERVICES LIMITED	Director	15/11/1990	15/11/1990	-	Active	NO
4	U29299MH1991PTC061083	GALIAKOTWALA ENGINEERING COMPANY PRIVATE LIMITED	Managing director	08/04/1991	08/04/1991	-	Active	NO
5	U24100GJ1978PLC022924	GUJARAT ORGANICS LIMITED	Director	23/05/1995	23/05/1995	-	Active	NO
6	U28992MH1997PTC107569	T AND D GALIAKOT CONTAINERS PRIVATE LIMITED	Director	29/09/1999	29/09/1999	-	Active	NO
7	U25202MH1986PLC038626	CLEAR MIPAK PACKAGING SOLUTIONS LIMITED	Director	12/09/2014	16/04/2003	-	Active	NO
8	U32100MH2005PTC154821	SUNDEEP TECHNOLOGIES PRIVATE LIMITED	Director	15/07/2005	15/07/2005	07/09/2015	Active	NO
9	U74999MH1947PLC005875	GALIAKOTWALA ESTATE LTD	Director	03/10/2006	03/10/2006	-	Under Process of Striking off	NO

Name :

Mr. Dhiren Narendra Sheth

Designation :

Director

Address :

101, Khatau Condominium, 15/A, J. Mehta Raod, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

03.12.1967

Date of Appointment :

01.02.1992

DIN No.:

00300136

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	U51900MH1939PTC003046	C A GALIAKOTWALA AND COMPANY PRIVATE LIMITED	Director	01/02/1992	01/02/1992	-	Active	NO
2	U91110MH1921NPL000940	COTTON ASSOCIATION OF INDIA	Director	31/12/2008	08/11/1993	-	Active	NO
3	U51900MH1996PTC095870	GALIAKOTWALA INTERNATIONAL PRIVATE LIMITED	Director	24/09/1996	24/09/1996	-	Active	NO
4	U28992MH1997PTC107569	T AND D GALIAKOT CONTAINERS PRIVATE LIMITED	Director	29/09/1999	29/09/1999	-	Active	NO
5	U70100MH2003PTC142104	GALIAKOTWALA PROPERTIES PRIVATE LIMITED	Director	18/10/2003	18/10/2003	-	Active	NO

Name :

Mr. Manish Narendra Sheth

Designation :

Director

Address :

101, Khatau Condominium, 15/A, J. Mehta Raod, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

25.05.1969

Date of Appointment :

01.08.1994

DIN No.:

00300201

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	U24110MH1941PTC003381	ADVANCE PAINTS PRIVATE LIMITED	Whole-time director	09/02/1992	09/02/1992	-	Active	NO
2	U51900MH1939PTC003046	C A GALIAKOTWALA AND COMPANY PRIVATE LIMITED	Director	01/08/1994	01/08/1994	-	Active	NO
3	U65910MH1990PLC058983	GALIAKOTWALA INVESTMENT SERVICES LIMITED	Director	19/08/1996	19/08/1996	-	Active	NO
4	U51900MH1996PTC095870	GALIAKOTWALA INTERNATIONAL PRIVATE LIMITED	Director	19/08/1996	19/08/1996	-	Active	NO
5	U74210MH1996PTC103804	GALIAKOTWALA TECHNOLOGIES PRIVATE LIMITED	Director	06/11/1996	06/11/1996	07/09/2015	Active	NO
6	U70100MH2003PTC142104	GALIAKOTWALA PROPERTIES PRIVATE LIMITED	Director	18/10/2003	18/10/2003	-	Active	NO
7	U15140MH1969NPL014362	ALL INDIA COTTONSEED CRUSHERS ASSOCIATION	Director	21/09/2006	21/09/2006	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Deepak Choksi
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders		No. of Shares
Narendra Chhotalal Sheth Jointly With Usha Narendra Sheth		3808
Harshad Chhotalal Sheth Jointly With Rekha Harshad Sheth		2352
Bakulesh Chhotalal Sheth Jointly With Harsha Bakulesh Sheth		1696
Mahendra Chhotalal Jointly With Kanan Mahendra Sheth		2144
Bhanumati Amidas Sheth Jointly With Narendra Chhotalal Sheth		384
Usha Narendra Sheth Jointly With Narendra Chhotalal Sheth		1264
Rekha Harshad Sheth Jointly With Harshad Chhotalal Sheth		928
Harsha Bakulesh Sheth Jointly With Bakulesh C Sheth		608
Kanan Mahendra Sheth Jointly With Mahendra C Sheth		160
Sandip Narendra Sheth		1488
Manish Narendra Sheth		1216
Dhiren Narendra Sheth		1328
Sushant Narendra Sheth		704
N.C.Sheth HUF Through Karta Narendra Chhotalal Sheth		640
H.C.Sheth HUF Through Karta Harshad Chhotalal Sheth		1040
B.C.Sheth HUF Through Karta Bakulesh C Sheth		1040
M.C.Sheth HUF Through Karta Mahendra C Sheth		704
Galiakot Containers Limited, India		320
Bhanumati A Sheth		1856
C.J Sheth HUF Through Karta Chhotalal Jivraj Sheth		320
Total		24000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

Category	Percentage
Bodies corporate	1.33
Directors or relatives of Directors	98.67
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Cotton Bales and Yarn.

Products :	Cotton Bales Yarn

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products :	Finished Goods
Countries :	Pakistan China Taiwan

Imports :
Products :	Raw Material
Countries :	United States of America Australia

Terms :
Selling :	L/C, Cheque

Purchasing :	L/C, Cheque

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 :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	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 :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

50 (Approximately)

Bankers :

Bank Name	Union Bank of India
Branch	Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, 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

Bank of India, Mumbai Overseas Branch, 70-80 M G Road, Mezzanine Floor, Fort, Mumbai - 400001, Maharashtra, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term Loans From Banks	0.035	0.050

Short-term borrowings
From Banks
Bank Overdraft	81.775	85.947
Packing Credit	197.702	327.513
Bills receivables discounted with banks	22.728	10.140
Buyers credit	0.000	16.207
Total	302.240	439.857

Auditors :
Name :	A .W. Ketkar and Company Chartered Accountants
Address :	4,Soukhya, V.N. Purav Marg, Chunnabhatti, Mumbai-400022, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAFPK2543M

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

25,000	Equity Shares	Rs.100/- each	Rs. 2.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

24,000	Equity Shares	Rs.100/- each	Rs. 2.400 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	2.400	2.400	2.400
(b) Reserves & Surplus	168.065	165.627	163.138
(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)	170.465	168.027	165.538

(3) Non-Current Liabilities
(a) long-term borrowings	0.513	0.958	1.138
(b) Deferred tax liabilities (Net)	0.513	0.534	0.479
(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)	1.026	1.492	1.617

(4) Current Liabilities
(a) Short term borrowings	302.205	439.807	310.964
(b) Trade payables	55.838	26.379	14.547
(c) Other current liabilities	16.591	21.099	20.358
(d) Short-term provisions	93.971	92.713	92.513
Total Current Liabilities (4)	468.605	579.998	438.382

TOTAL	640.096	749.517	605.537

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10.121	10.679	10.811
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	10.121	10.679	10.811

(2) Current assets
(a) Current investments	19.566	17.936	31.289
(b) Inventories	109.811	270.165	201.898
(c) Trade receivables	194.088	211.947	152.613
(d) Cash and cash equivalents	90.564	21.215	6.037
(e) Short-term loans and advances	215.946	217.575	202.889
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	629.975	738.838	594.726

TOTAL	640.096	749.517	605.537

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	NA	NA	NA
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA

Less	EXPENSES		NA	NA	NA

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		5.312	4.991	5.927

Less/ Add	DEPRECIATION/ AMORTISATION		1.211	1.468	1.019

	PROFIT/ (LOSS) BEFORE TAX		4.101	3.523	4.908

Less	TAX		1.180	0.681	1.337

	PROFIT/ (LOSS) AFTER TAX		2.921	2.842	3.571

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		8.929	6.505	4.075

Less	APPROPRIATIONS
		Transfer to General Reserve	1.400	0.000	0.723
		Tax on Dividend	0.360	0.360	0.360
		Proposed Dividend on Equity Shares	0.058	0.058	0.058
	BALANCE CARRIED TO THE B/S		10.032	8.929	6.505

	EARNINGS IN FOREIGN CURRENCY
		Sales of Cotton	NA	360.410	842.143
		Import Commission received	NA	46.821	39.391
	TOTAL EARNINGS		NA	407.231	881.534

	Earnings / (Loss) Per Share (Rs.)		121.70	121.15	148.8

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
Net cash flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	NA	NA	NA

Operating Profit Margin (PBIDT/Sales)	(%)	NA	NA	NA

Return on Total Assets (PBT/Total Assets}	(%)	0.64	0.47	0.81

Return on Investment (ROI) (PBT/Networth)		0.02	0.02	0.03

Debt Equity Ratio (Total Debt /Networth)		1.78	2.62	1.89

Current Ratio (Current Asset/Current Liability)		1.34	1.27	1.36

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	2.400	2.400	2.400
Reserves & Surplus	163.138	165.627	168.065
Net worth	165.538	168.027	170.465

long-term borrowings	1.138	0.958	0.513
Short term borrowings	310.964	439.807	302.205
Total borrowings	312.102	440.765	302.718
Debt/Equity ratio	1.885	2.623	1.776

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)	Yes
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	No
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	No
29]	Profitability for last three years	Yes
30]	Major shareholders, if available	Yes
31]	External Agency Rating, if available	No
32]	Litigations that the firm/promoter involved in	Yes
33]	Market information	--
34]	Payments terms	Yes
35]	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS
Bench:- Bombay
Presentation Date:- 26/05/2015
Lodging No. :	NMAL/1451/2015	Failing Date:-	26/05/2015
		Main Matter
Lodging No.:-	APPL/467/2015

Petitioner:-	JAYSHRI GINNING AND SPINNING (P) LIMITED	Respondent:-	C A GALIAKOTWALA AND COMPANY PRIVATE LIMITED
Petn.Adv:-	VALANJU RINKU SMITESH (I7013)
District:-	MUMBAI

Bench:-	DIVISION	Category:-	NOTICE OF MOTION (APPEAL)
Status:-	Pre-Admission	Stage:-	NOTICE OF MOTION FOR HEARING [ORIGINAL SIDE MATTERS]
Last Date:-	26/11/2015	Stage:-
Last Coram:-	HON'BLE SHRI JUSTICE V.M. KANADE HON'BLE SMT. JUSTICE R.P. MOHITE-DERE

Act. :	Arbitration and Conciliation Act 1996		Under Section:

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Other Loans and Advances	0.478	0.908
Total	0.478	0.908

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10288347	27/04/2011 *	451,700,000.00	UNION BANK OF INDIA	MUMBAI SAMACHAR MARG BRANCH, 66//80, MUMBAI SAMACHAR MARG, FORT, MUMBAI, Maharashtra - 400023, INDIA	B14557102
2	80055830	10/08/2009 *	200,000,000.00	Bank of India	Mumbai Overseas Branch, 70-80 M G Road, Mezzanine Floor ,Fort, Mumbai, Maharashtra - 400001, INDIA	A70158332
3	90241017	05/05/2005 *	12,000,000.00	UNION BANK OF INDIA	MUMBAI SAMACHAR MARG BRANCH, 66/80 MUMBAI SAMACHAR MARG FORT, MUMBAI, Maharashtra - 400023, INDIA	-
4	90244045	25/07/2006 *	37,500,000.00	UNION BANK OF INDIA	MUMBAI SAMACHAR MARG BRANCH,, 66/80, MUMBAI SAMACHAR MARG, FORT, MUMBAI, Maharashtra - 400023, INDIA	-
5	90240477	05/05/2005 *	500,000.00	UNION BANK OF INDIA	MUMBAI SAMACHAR MARG BRANCH, 66/80 MUMBAI SAMACHAR MARG FORT, MUMBAI, Maharashtra - 400023, INDIA	-

* Date of charge modification

FIXED ASSETS

Land and Building
Office premises and godown
Furniture
Vehicle
Computer

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 records 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.66.75
UK Pound	1	Rs.100.67
Euro	1	Rs.70.87

INFORMATION DETAILS

Information Gathered by :	GAY

Analysis Done by :	AMR

Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	50
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		50

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

INDEX OF CHARGES

Unit