MIRA INFORM REPORT

Report No. :	343968
Report Date :	07.10.2015

IDENTIFICATION DETAILS

Name :	CONNECTWELL INDUSTRIES PRIVATE LIMITED
Registered Office :	D-7, MIDC, Phase-II, Dombivli (East), Thane – 421204, Maharashtra
Tel. No.:	91-251-2870636 / 2870766
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.01.1997
Com. Reg. No.:	11-105433
Capital Investment / Paid-up Capital :	Rs.25.000 Million
CIN No.: [Company Identification No.]	U30000MH1997PTC105433
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged into manufactures of terminal blocks and interface modules, which are used in various industries such as power, telecommunications, and automotive.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 1166000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company incorporated during the year 1997 having satisfactory track. It is the manufacturer of terminal blocks. The company’s operational performance seems to be good with increase in profit margins obtained during the year 2014. Rating also considers company’s healthy financial base with good reserves level, favourable liquidity position and has strong debt protection metrics. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

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	Long term bank facilities = BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	July 16, 2015

Rating Agency Name	CRISIL
Rating	Short term bank facilities = A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	July 16, 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

Name :	Mrs. Nanda Dongre
Designation :	Assistant General Manager
Contact No.:	91-251-2870636
Date :	05.10.2015

LOCATIONS

Registered Office / Global Headquarter :	D-7, MIDC, Phase-II, Dombivli (East), Thane – 421204, Maharashtra, India
Tel. No.:	91-251-2870636 / 2870766 / 3980600 / 3980800
Fax No.:	91-251-2870889 / 3980700
E-Mail :	nanda@connectwell.com connect@connectwell.com
Website :	www.connectwell.com
Factory 1 :	D-14, MIDC, Phase II, Dombivli (East), Thane, Maharashtra, India
Factory 2 :	D-08, MIDC, Phase II, Dombivli (East), Thane, Maharashtra, India
Factory 3 :	D-13, MIDC, Phase II, Dombivli (East), Thane, Maharashtra, India
Dealer Network :	Located At: North America South America Europe Middle East Countries Africa Asia Australia

DIRECTORS

As on 29.09.2014

Name :	Mr. Vijay Girdharilal Saheta
Designation :	Managing Director
Address :	503, Somnath, Neelkanth Valley,, Rajawadi, Vidyavihar (East), Mumbai - 400077, Maharashtra, India
Date of Birth/Age :	63 Years
Qualification :	BE (Material)
Date of Appointment :	01.04.2009
DIN No.:	01594789

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	U32109MH1986PTC040045	CONTROLWELLINDIA PRIVATE LIMITED	Director	06/06/1986	06/06/1986	-	Active	NO
2	U32109MH1988PTC050013	CONNECTWELL INDIA PRIVATE LIMITED	Director	13/12/1988	13/12/1988	-	Active	NO
3	U51900MH1991PTC063084	RAJDEEP SALES PRIVATE LIMITED	Director	27/08/1991	27/08/1991	-	Converted to LLP and dissolved	NO
4	U32109MH1993PTC073909	CONNECTRITE ELECTRONICS (INDIA) PRIVATE LIMITED	Director	13/09/1993	13/09/1993	-	Converted to LLP and dissolved	NO
5	U30000MH1997PTC105433	CONNECTWELL INDUSTRIES PRIVATE LIMITED	Managing director	01/04/2009	28/01/1997	-	Active	NO
6	AAE-0325	RAJDEEP SALES LLP	Designated Partner	27/05/2015	27/05/2015	-	Active	NO
7	AAE-1220	CONNECTRITE ELECTRONICS (INDIA) LLP	Designated Partner	09/06/2015	09/06/2015	-	Active	NO

Name :

Mr. Sandeep Vijay Saheta

Designation :

Director

Address :

604, Cairo Skyline Oasis, Premier Road, Ghatkopar (West), Mumbai - 400086, Maharashtra, India

Date of Birth/Age :

25.03.1978

Date of Appointment :

01.10.2009

DIN No.:

02803089

Name :

Mr. Jiten Vijay Saheta

Designation :

Director

Address :

606, Skyline Oasis, Ghatkopar (West), Mumbai - 400086, Maharashtra, India

Date of Birth/Age :

04.08.1982

Date of Appointment :

01.10.2009

DIN No.:

02803215

Name :

Mr. Mohanlal Thakurdas Gurnani

Designation :

Director

Address :

501, Corsica, Plot No. 44, Sector - 29, Vashi, Navi Mumbai - 400705, Maharashtra, India

Date of Birth/Age :

67 Years

Qualification :

BE (Material)

Date of Appointment :

01.04.2004

DIN No.:

00347916

Name :

Ms. Preeti Mohan Gurnani

Designation :

Additional Director

Address :

501, Corsica, Plot No. 44, Sector 29, Vashi, Navi Mumbai - 400703, Maharashtra, India

Date of Birth/Age :

28.12.1980

Date of Appointment :

18.05.2015

DIN No.:

00682602

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	U74210MH1998PTC114703	PRIYAA GURNANI INTERIORS PRIVATE LIMITED	Director	03/10/2000	03/10/2000	28/02/2013	Active	NO
2	U99999MH1989PTC052329	TEEJAY SUGARS PRIVATE LIMITED	Director	08/11/2000	08/11/2000	-	Amalgamated	NO
3	U70109MH1994PTC083142	Moraj Infratech Private Limited	Director	19/09/2005	19/09/2005	28/12/2010	Active	NO
4	U15120MH1982PTC026177	RAJA FOOD PRODUCTS PRIVATE LIMITED	Additional director	19/01/2009	19/01/2009	-	Amalgamated	NO
5	U45200MH1994PTC077565	MORAJ BUILDING CONCEPTS PRIVATE LIMITED	Additional director	19/01/2009	19/01/2009	15/01/2013	Active	NO
6	U45200MH1989PTC050795	NANDU BUILDERS AND PROMOTERS PRIVATE LIMITED	Additional director	19/01/2009	19/01/2009	28/12/2010	Active	NO
7	U45200MH2002PTC135171	MORAJ BUILDCON PRIVATE LIMITED	Director	30/09/2009	19/01/2009	-	Active	NO
8	U99999MH1989PTC052078	KETAN BUILDERS AND LAND DEVELOPERS PRIVATE LIMITED	Director	06/05/2009	06/05/2009	-	Amalgamated	NO
9	U30000MH1997PTC105433	CONNECTWELL INDUSTRIES PRIVATE LIMITED	Additional director	18/05/2015	01/10/2009	-	Active	NO
10	U30000MH1997PTC105433	CONNECTWELL INDUSTRIES PRIVATE LIMITED	Director	01/10/2009	01/10/2009	05/05/2015	Active	NO
11	U74994RJ2007PTC024466	CASA EMPORIO HOMESTORES PRIVATE LIMITED	Additional director	26/03/2015	26/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Nanda Dongre
Designation :	Assistant General Manager

MAJOR SHAREHOLDERS

As on 29.09.2014

Names of Shareholders	No. of Shares
Connectwell India Private Limited, India	50000
Jiten V. Saheta	24500
Mohan T. Gurnani	23500
Neelu V. Saheta	24500
Preeti M. Gurnani	18500
Raju M. Gurnani	16500
Sandeep V. Saheta	24500
Vijay G. Saheta	23500
Vijay G. Saheta (HUF)	23000
Raja Food Products Limited, India	10000
Mohan T. Gurnani (HUF)	11500
Total	250000

As on 29.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	24.00
Directors or relatives of Directors	76.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged into manufactures of terminal blocks and interface modules, which are used in various industries such as power, telecommunications, and automotive.
Products :	Terminal Blocks Interface Modules Switch-Mode Power Supply Professional Tools Marking and Engraving Systems DIN Rail Socket and Switches
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	United States of America Kuwait Middle East Countries
Imports :
Products :	Raw Material
Countries :	Germany Sweden
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	T. V Tools Engineering and Industries Private Limited, Vasai, Thane, Maharashtra, India
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Wholesalers, Retailers and Manufacturer

Reference :	Larsen and Toubro Limited, Mumbai, Maharashtra, India
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

200 (Approximately)

Bankers :

Banker Name	Union Bank of India
Branch Address	Kaprubavadi Branch, Dhanlaxmi Industrial Estate, Gokul Nagar, Old Agra Road, Thane (West), Thane - 400601, 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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term Loans From Banks
Machinery Term Loan (611/7803) (Payable from 01.11.2012 in 36 Equal Installments)	20.749	38.169
Machinery Term Loan (611/86)	34.455	0.000
Building Term Loan (611/62) (Payable from 22.04.2010 in 60 Equal Installments)	10.305	21.441
Car Loan - Kotak Mahindra (Payable from 01.10.2011 in 60 Equal Installments)	0.080	0.257
Verna Car Loan - Kotak Mahindra (Payable from 12.09.12 in 35 Equal Installments)	0.518	0.836
Figo Car Loan - UBI (Ahmedabad) (Payable from 18.05.12 in 60 Equal Installments)	0.414	0.509
Figo Car Loan - UBI (Chennai) (Payable from 29.12.12 in 60 Equal Installments)	0.429	0.516
Verna Car Loan - ICICI Bank	0.519	0.000
Amaze Car Loan- ICICI Bank	0.504	0.000
Amaze Car Loan- ICICI Bank	0.501	0.000
Elantra Car Loan - Kotak Mahindra	1.206	0.000
Amaze Car Loan- ICICI Bank	0.541	0.000
SHORT TERM BORROWING
From Banks (Secured Against Land, Building, Plant and Machinery, Book Debts and Fixed Deposits)	145.711	155.986
Total	215.932	217.714

Auditors :
Name :	Bimal R. Mehta and Associates Chartered Accountants
Address :	314, Bhaveshwar Complex, Vidyavihar (West), Mumbai – 400086, Maharashtra, India
PAN No.:	AAEPM5671P
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries :	Connectwell Trading (Shanghai) Company Limited Connectwell Do Brazil Components Electricos Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.100/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.100/- each	Rs.25.000 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	25.000	25.000	25.000
(b) Reserves & Surplus	383.074	334.296	294.681
(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)	408.074	359.296	319.681
(3) Non-Current Liabilities
(a) long-term borrowings	280.601	247.184	192.461
(b) Deferred tax liabilities (Net)	14.057	13.375	11.994
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	7.341	4.747	3.163
Total Non-current Liabilities (3)	301.999	265.306	207.618
(4) Current Liabilities
(a) Short term borrowings	145.711	155.986	152.047
(b) Trade payables	82.769	61.406	49.195
(c) Other current liabilities	11.024	11.141	10.474
(d) Short-term provisions	33.023	26.818	61.914
Total Current Liabilities (4)	272.527	255.351	273.630
TOTAL	982.600	879.953	800.929
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	307.329	289.817	268.634
(ii) Intangible Assets	3.186	2.834	0.000
(iii) Capital work-in-progress	1.899	3.519	2.331
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	21.678	19.982	15.837
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	46.622	48.880	30.431
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	380.714	365.032	317.233
(2) Current assets
(a) Current investments	29.615	21.551	11.101
(b) Inventories	149.632	139.472	125.500
(c) Trade receivables	339.407	282.593	258.400
(d) Cash and cash equivalents	28.503	46.219	36.312
(e) Short-term loans and advances	47.603	19.536	43.885
(f) Other current assets	7.126	5.550	8.498
Total Current Assets	601.886	514.921	483.696
TOTAL	982.600	879.953	800.929

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	822.799	776.636	725.636
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	81.727	73.494	76.829
Less	TAX	24.146	25.105	25.521
	PROFIT/ (LOSS) AFTER TAX	57.581	48.389	51.308
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	230.248	195.473	157.766
Add/ Less	TAX ADJUSTMENT OF EARLIER YEAR	(0.028)	0.000	0.246
Less	APPROPRIATIONS
	Transfer to General Reserve	5.758	4.839	5.138
	Dividend	7.500	7.500	7.500
	Tax on Dividend	1.275	1.275	1.217
	Total	14.505	13.614	14.101
	Balance Carried to the B/S	273.324	230.248	194.973
	Earnings / (Loss) Per Share (Rs.)	230.324	193.556	205.232

Particulars	31.03.2015
Sales Turnover (Approximately)	959.800

Expected Sales (2015-16): Rs.1200.000 Million

The above information has been parted by Mrs. Nanda Dongre (Assistant General Manager).

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	131.155	97.159	NA
Net cash flows from operating activities	108.655	75.159	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	7.00	6.23	7.07
Return on Total Assets (PBT/Total Assets}	(%)	8.52	8.58	9.82
Return on Investment (ROI) (PBT/Networth)		0.20	0.20	0.24
Debt Equity Ratio (Total Debt/Networth)		1.04	1.12	1.08
Current Ratio (Current Asset/Current Liability)		2.21	2.02	1.77

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	25.000	25.000	25.000
Reserves & Surplus	294.681	334.296	383.074
Net worth	319.681	359.296	408.074
long-term borrowings	192.461	247.184	280.601
Short term borrowings	152.047	155.986	145.711
Total borrowings	344.508	403.170	426.312
Debt/Equity ratio	1.078	1.122	1.045

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	725.636	776.636	822.799
		7.028	5.944

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	725.636	776.636	822.799
Profit	51.308	48.389	57.581
	7.07%	6.23%	7.00%

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	Yes
18	Major suppliers	Yes
19	Major customers	Yes
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 four years	Yes
27	Reasons for variation <> 20%	----------------------
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

Note:

Registered address has been shifted from the D-14, MIDC phase-II, Dombivli (East), Thane – 421204, Maharashtra, India to the present address w.e.f. 01.10.2009

REVIEW OF OPERATION

The Company has earned a profit after tax of Rs.57.581 Million in the Current Year as against Rs 48.389 Million in the previous year. The year witnessed a moderate increase in Sales. There were delays in policy decisions by the government on infrastructure and capital goods which resulted in reduce demands from customers.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Advances from related parties	210.380	185.456
Total	210.380	185.456

INDEX OF CHARGES

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10578630	31/03/2015	7,000,000.00	CITI BANK N.A.	FIRST INTERNATIONAL FINANCIAL CENTRE (FIFC), PLOT NO. C-54 & 55, G-BLOCK, BKC, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA	C58262551
2	10443508	26/06/2013	40,000,000.00	UNION BANK OF INDIA	KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATE, GOKUL NAGAR,OLD AGRA ROAD, THANE (WEST), THANE - 400601, MAHARASHTRA, INDIA	B82338880
3	10398252	21/12/2012	550,000.00	UNION BANK OF INDIA	KAPURBAVADI BRANCH, DHANLAXMI INDUSTRIAL ESTATE, LAL BAHADUR SHASTRI MARG, KAPURBAVADI, THANE (WEST),  THANE - 400601, MAHARASHTRA, INDIA	B66270760
4	10360900	12/05/2012	570,000.00	UNION BANK OF INDIA	KAPURBAVADI BRANCH, DHANLAXMI INDUSTRIAL ESTATE, LAL BAHADUR SHASTRI MARG, KAPURBAVADI, THANE (WEST),  THANE - 400601, MAHARASHTRA, INDIA	B41743881
5	10325572	29/12/2011	86,000,000.00	UNION BANK OF INDIA	KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATE, GOKUL NAGAR,OLD AGRA ROAD, THANE (WEST), THANE - 400601, MAHARASHTRA, INDIA	B28778504
6	10157771	04/05/2009	55,000,000.00	UNION BANK OF INDIA	KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATE, GOKUL NAGAR,OLD AGRA ROAD, THANE (WEST), THANE - 400601, MAHARASHTRA, INDIA	A62224589
7	10157792	28/10/2011 *	22,500,000.00	UNION BANK OF INDIA	KAPURBAVDI BRANCH, DHANLAXMI INDUSTRIAL ESTATE, GOKUL NAGAR, OLD AGRA ROAD, THANE - 400601, MAHARASHTRA, INDIA	B27590157
8	10091498	07/11/2007	56,000,000.00	UNION BANK OF INDIA	KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATE, GOKUL NAGAR,OLD AGRA ROAD, THANE (WEST), THANE - 400601, MAHARASHTRA, INDIA	A33763566
9	10091497	07/11/2007	32,500,000.00	UNION BANK OF INDIA	KAPURBAVDI BRANCH, DHANLAXMI INDUSTRIAL ESTATE, GOKUL NAGAR, OLD AGROA ROAD, L.B.S.MAERG, THANE (WEST), THANE - 400601, MAHARASHTRA, INDIA	A33765306
10	10062670	13/06/2007	10,000,000.00	UNION BANK OF INDIA	KAPURBAVDI BRANCH, DHANLAXMI INDUSTRIAL ESTATE, GOKUL NAGAR, OLD AGRA ROAD, THANE (WEST), THANE - 400601, MAHARASHTRA, INDIA	A16962995

* Date of charge modification

FIXED ASSETS

• Computer
• Factory Building
• Flat
• Furniture and Fixture
• Land
• Moulds and Dies
• Plant and Machinery
• Testing Equipments
• Vehicle

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.65.39
UK Pound	1	Rs.99.05
Euro	1	Rs.73.19

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	HNA
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		49

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.