MIRA INFORM REPORT

Report No. :	344739
Report Date :	12.10.2015

IDENTIFICATION DETAILS

Name :	S3V VASCULAR TECHNOLOGIES PRIVATE LIMITED
Registered Office :	No. 273, Jois Plaza, 2nd Floor, 100 Feet Ring Road, Banashankari Third Stage, Bangalore-560085, Karnataka
Tel. No.:	91-80-26690413
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	09.08.2011
Com. Reg. No.:	08-059915
Capital Investment / Paid-up Capital :	Rs. 23.678 Million
CIN No.: [Company Identification No.]	U33112KA2011PTC059915
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	BLRS39684B
PAN No.: [Permanent Account No.]	AAQCS2303F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Distributor of Medical Devices.
No. of Employees :	60 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 210000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Even though the company was incorporated in the year 2011, it has started its operations on October 2013 as claimed by Ms. Suvarna (Account Executive). It is having moderate track record. As per Registrar of Companies the date of balance sheet (i.e. financial field) is shown as 31.03.2014 but documents related to financial for the year ending 2014 is not available from any source. As per available financial of 2013, company has incurred losses from its operations. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings 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	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

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 :	Ms. Suvarna
Designation :	Accountant
Contact No.:	91-821-2410016
Date :	10.10.2015

LOCATIONS

Registered Office :	No.273, Jois Plaza, 2nd Floor, 100 Feet Ring Road, Banashankari, Third Stage, Bangalore-560085, Karnataka, India
Tel. No.:	91-80-26690413
Fax No.:	Not Available
E-Mail :	badari@s3vv.com accounts@s3vvascular.com amruth@s3vvascular.com info@s3vvascular.com
Website :	http://www.s3vvascular.com
Location :	Owned
Locality :	Commercial
Factory :	229/ A, Hebbal Industrial Area, Mysore-570018, Karnataka, India
Branch Offices :	772, Balaji Chambers, 1^st and 2nd Floor, New Kalidasa Road, Vijaynagar 1st Stage, Mysore-570017, Karnataka, India

DIRECTORS

AS ON 24.11.2014

Name :

Mr. Nagarada Gadde Badari Narayan

Designation :

Director

Address :

2-2-647/185/A, 3rd Street, Sharada Nagar, Bagh Amber Pet, Hyderabad-500013, Andhra Pradesh, India

Date of Birth/Age :

28.05.1961

Qualification :

M. Pharm

Experience :

22 Years

Date of Appointment :

09.08.2011

DIN No.:

00569510

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	U85101TG1997PLC028153	RELISYS MEDICAL DEVICES LIMITED	Managing Director	01-09-2008	01-08-2003	24-02-2011	Active	NO
2	U33112KA2011PTC059915	S3V VASCULAR TECHNOLOGIES PRIVATE LIMITED	Director	09-08-2011	09-08-2011	-	Active	NO

Name :

Mr. Narayan Kalindhi

Designation :

Director

Address :

Plot No.82, Road No.6, Arunodaya Nagar, Nagole, Ranga Reddy-500068, Andhra Pradesh, India

Date of Birth/Age :

23.05.1967

Date of Appointment :

09.08.2011

DIN No.:

03484025

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	U33110TG2011PTC074462	VIVA MED TECHNOLOGIES PRIVATE LIMITED	Director	13-05-2011	13-05-2011	Active	NO
2	U33125TG2011PTC075171	3V VASCULAR PRIVATE LIMITED	Director	24-06-2011	24-06-2011	Active	NO
3	U33112KA2011PTC059915	S3V VASCULAR TECHNOLOGIES PRIVATE LIMITED	Director	09-08-2011	09-08-2011	Active	NO

Name :

Mr. Vijaya Gopal Nagaradagadde

Designation :

Director

Address :

Plot No 82 Rd No 6, Arunodayanagar Nagole, Hyderabad-500068, Andhra Pradesh, India

Date of Birth/Age :

26.10.1989

Date of Appointment :

09.08.2011

DIN No.:

03490341

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	U33110TG2011PTC074462	VIVA MED TECHNOLOGIES PRIVATE LIMITED	Director	13-05-2011	13-05-2011	Active	NO
2	U33125TG2011PTC075171	3V VASCULAR PRIVATE LIMITED	Director	24-06-2011	24-06-2011	Active	NO
3	U33112KA2011PTC059915	S3V VASCULAR TECHNOLOGIES PRIVATE LIMITED	Director	09-08-2011	09-08-2011	Active	NO

Name :

Mr. Aju Jacob

Designation :

Director

Address :

Nechupadam, Kadayiruppu, Kolenchery, Ernakulam-682311, Kerala, India

Date of Birth/Age :

29.05.1964

Date of Appointment :

30.09.2013

DIN No.:

00030332

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	U24299KL1970PLC002294	SYNTHITE INDUSTRIES LIMITED	Whole-time director	01-10-2012	05-01-1987	-	Active	NO
2	U15142KL1977PLC002933	SIJMAK OILS LIMITED	Director	01-02-1994	01-02-1994	-	Amalgamated	NO
3	U70101KL1993PLC007482	SPEAKS PROPERTIES LIMITED	Director	30-09-1994	30-09-1994	31-03-2015	Active	NO
4	U51225KL2006PLC019598	SYMEGA SAVOURY TECHNOLOGY LIMITED	Director	07-07-2006	07-07-2006	13-01-2014	Active	NO
5	U33112KA2011PTC059915	S3V VASCULAR TECHNOLOGIES PRIVATE LIMITED	Director	30-09-2013	29-06-2012	-	Active	NO
6	U15500KL2013PTC035116	INTERGROW FOODS AND BEVERAGES PRIVATE LIMITED	Director	01-10-2013	01-10-2013	24-06-2014	Active	NO
7	U34300KL2008PTC022202	PETE'S AUTOMOTIVE PRODUCTS PRIVATE LIMITED	Additional director	06-03-2015	06-03-2015	-	Active	NO

Name :

Mr. Chava Satyanarayana

Designation :

Director

Address :

H.No.8-2-293/82/A/303, Plot No.303, Road No.25, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India

Date of Birth/Age :

10.03.1961

Date of Appointment :

30.09.2013

DIN No.:

00211921

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	U72200TG2005PTC046163	NOWPOS M-SOLUTIONS PRIVATE LIMITED	Director	31-12-2005	31-12-2005	Active	NO
2	U24239AP2005PTC047518	LAURUS LABS PRIVATE LIMITED	Whole-time director	01-04-2015	21-01-2006	Active	NO
3	U33112KA2011PTC059915	S3V VASCULAR TECHNOLOGIES PRIVATE LIMITED	Director	30-09-2013	29-06-2012	Active	NO
4	U72300TG2014PTC092281	LAURUS INFOSYSTEMS (INDIA) PRIVATE LIMITED	Director	10-01-2014	10-01-2014	Active	NO

Name :

Mr. Ravi Shankar Prayaga

Designation :

Director

Address :

B1 and 2 Mont Vert Tranquille S. No. 180 181, Wakad Thergaon Road, Wakad, Pune-411057, Maharashtra, India

Date of Birth/Age :

04.08.1967

Date of Appointment :

03.05.2012

DIN No.:

00809575

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	U72901DL2006PTC148702	EPM TECHNOLOGY SERVICES PRIVATE LIMITED.	Director	09-05-2006	09-05-2006	Active	NO
2	U74900PN2010PTC136652	ECOVED TECHNOLOGIES PRIVATE LIMITED	Director	21-06-2010	21-06-2010	Active	NO
3	U33112KA2011PTC059915	S3V VASCULAR TECHNOLOGIES PRIVATE LIMITED	Director	30-09-2013	03-05-2012	Active	NO
4	U29253AP2015PTC096185	JI TECHNOVATION PRIVATE LIMITED	Director	11-02-2015	11-02-2015	Active	NO

KEY EXECUTIVES

Name :	Ms. Suvarna
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 24.11.2014

Names of Shareholders	No. of Shares
N G Badari Narayan	4660000
Vijaya Gopal Nagara Gadde	505000
Ravi Shankar Prayaga	502632
Aju Jacob	394737
Chava Satyanarayana	263158
Manish Vallabhdas Kaneria	227273
Dr. Mahesh Ramavilas Joshi	45455
Rajiv Bajaj	22727
Ajay Kumar Jain	22727
B V S Prashanth	11364
Ranks Technosoft Private Limited, India	252300
Ashish Gharpure	17460
Anabhra Soni	17460
Manoj K Agarwal	17460
Gautham Ashok Choksi Karta (HUF)	175945
Amith Bhakshi	381588
Satish Chandra Tiwari	43860
Rajiv Nair	17242
Narendra Chavan	20000
Total	7598388

AS ON 24.11.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	3.32
Directors or relatives of directors	83.25
Other top fifty shareholders	13.43
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Distributor of Medical Devices.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Finished Good
Countries :	Indonesia
Imports :
Products :	--
Countries :	--
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 and Retailers

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 :

60 (Approximately)

Bankers :

Bank Name:	State Bank of Hyderabad
Branch:	Mehabooh Ganj Branch, Hyderabad, Andhra Pradesh, 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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Indian Overseas Bank

Residency Road Branch, Janardhan Tower, Residency Road, Bangalore-560025, Karnataka, India

Facilities :

--

Banking Relations :	--
Auditors :
Name :	B S Ravikumar and Associates Chartered Accountants
Address :	No.73, 2nd Floor, Sri Madhvesha Complex, Malai Mahadeshwara Road, Nazarbad, Mysore-570010, Karnataka, India
Income-tax PAN of auditor or auditor's firm :	AADFB1008N
Memberships :	--
Collaborators :	--
Entities over which Key Management Personnel and their relatives are able to exercise influence:	VIVA Med Technologies Private Limited

CAPITAL STRUCTURE

AS ON 24.11.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs. 10/- each	Rs. 80.000 Million
500000	Preference Shares	Rs. 100/- each	Rs. 50.000 Million
	Total		Rs. 130.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7598388	Equity Shares	Rs. 10/- each	Rs. 75.984 Million

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs. 10/- each	Rs. 80.000 Million
500000	Preference Shares	Rs. 100/- each	Rs. 50.000 Million
	Total		Rs. 130.000 Million

Issued and Subscribed :

No. of Shares	Type	Value	Amount
7047803	Equity Shares	Rs. 10/- each	Rs. 70.478 Million

Paid up Capital :

No. of Shares	Type	Value	Amount
1847803	Equity Shares	Rs. 10/- each	Rs. 18.478 Million
5200000	Equity Shares of (Rs. 10/-each, Re. 1/- Partly called and Paid up)	Re. 1/- each	Rs. 5.200 Million
	Total		Rs. 23.678 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	23.678	0.100
(b) Reserves & Surplus	45.574	0.000
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	3.100	33.350
Total Shareholders’ Funds (1) + (2)	72.352	33.450
(3) Non-Current Liabilities
(a) Long-term borrowings	24.111	2.236
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	24.111	2.236
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	3.241	0.354
(c) Other current liabilities	7.043	2.555
(d) Short-term provisions	1.523	0.102
Total Current Liabilities (4)	11.807	3.011
TOTAL	108.270	38.697
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10.221	0.838
(ii) Intangible Assets	0.067	0.000
(iii) Capital work-in-progress	45.831	19.037
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	4.418	0.000
(d) Long-term Loan and Advances	22.354	1.359
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	82.891	21.234
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	11.628	0.000
(c) Trade receivables	3.498	0.000
(d) Cash and cash equivalents	1.168	13.241
(e) Short-term loans and advances	9.085	3.950
(f) Other current assets	0.000	0.272
Total Current Assets	25.379	17.463
TOTAL	108.270	38.697

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013
	SALES
		Income	4.332
		Other Income	0.434
		TOTAL	4.766
Less	EXPENSES
		TOTAL	22.732
	PROFIT/ (LOSS) BEFORE TAX		(17.966)
Less	TAX		(4.418)
	PROFIT/ (LOSS) AFTER TAX		(13.548)
	IMPORTS
		Finished Goods	15.240
	TOTAL IMPORTS		15.240
	Earnings Per Share (Rs.)		(1.78)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA
Cash Generated from Operations	NA	NA
Net Cash Flow from used in Operations	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	(30.96)	NA
Return on Investment (ROI) (PBT/Networth)		(0.25)	NA
Debt Equity Ratio (Total Liability/Networth)		0.33	0.07
Current Ratio (Current Asset/Current Liability)		2.15	5.80

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	23.678
Reserves & Surplus	0.000	45.574
Money received against share warrants	0.000	0.000
Share Application money pending allotment	33.350	3.100
Net worth	33.450	72.352
Long-term borrowings	2.236	24.111
Short term borrowings	0.000	0.000
Total borrowings	2.236	24.111
Debt/Equity ratio	0.067	0.333

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	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	No
26	Turnover of firm for last one year	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	No
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	10437654	28/04/2014 *	283,300,000.00	INDIAN OVERSEAS BANK	RESIDENCY ROAD BRANCH,, 133/2, JARARDHAN TOWER, RESIDENCY ROAD,, BANGALORE- 560025, KARNATAKA, INDIA	C10422087

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2013 (Rs. In Million)	31.03.2012 (Rs. In Million)
LONG-TERM BORROWINGS
Loan from Directors (Loans are interest free and are repayable after 12 months)	24.111	2.236
Total	24.111	2.236

(REVIEW OF OPERATIONS FOR THE YEAR)

1) For the year ended 31st March 2013 the company recorded a turnover of Rs. 4.332 Million and recorded a PAT of (Rs. 13.548 Million). The company is working towards strengthening its Brand and tie up arrangement with OEM’s and leading Hospitals to enhance Revenue.

2) The Drug Coating Division of the Manufacturing Facility was inaugurated by Shri Guru, Chairman NRR group on 23rd March 2013.

3) The company has initiated Project Amruth to promote Primary Angioplasty and to educate people on the prevention of CAD. The Project was launched on March 22nd and will be soon converted as a NGO.

4) The company successfully conducted an Angioplasty Camp at Jayadeva Institute of Cardiology in September 2012 on the eve of World Heart Day. A total of 27 patients underwent Angioplasty and 36 numbers of 3V Krome were implanted.

5) During the year the company has infused Equity of Rs 82.700 Million which includes securities premium amounting to Rs.59.122 Million.

6) In the current financial year, the company has strengthened the in-house quality control and R and D infrastructure by procuring high end Scientific Equipment. Various production and metallurgical laboratory equipment’s like Ultrasound, Stent coating HPLC, ETO have been procured to enhance production capabilities.

7) In the current financial year the Company has developed prototypes of Magnesium bioabsorbable stent and percutaneous valve.

8) The company has plans to procure sophisticated equipment’s like PTCA Balloon Manufacturing Facility, SEM Analytical Microscope etc. to enhance the Integrated Manufacturing and R & D Capabilities. S3VVascular Technologies (Private) Limited

9) During the next fiscal year, the company would have domestic sales and marketing force of about 15 people to launch a national wide sales and marketing activity covering all the major cardiac institutes in India. To Guide and Strengthen the R&D team, the company has appointed Dr. Anil Dixit as Team Leader, Drug Delivery. The company has identified an experienced Person to Head Production. Your company has also identified an experienced CFO to head the finance and accounts .To enhance the marketing prospects in the U.S and various other countries, the Company has participated in EUROPCR 2012(Paris), Incidentally, the company is participating in various trade fairs as a pre-marketing activity in US and other countries. This would result in a high visibility for S3V brand which would eventually lead to successful entry into various international markets.

10) To promote international market networking especially in Europe, your company has appointed Mr. Ashok Patel as the European representative who will be based out of London

11) The Company has obtained Ce marking for Co-Cr stent, PTCA catheter and Ce certification for Aspiration catheter and Foley’s Catheter is under progress.

12) The company has initiated Post Marketing data on Cobalt chromium stents with supplies into Narayana Hrudyalaya and Jayadeva Institutes. A total of 750 3V Krome stents were implanted in 12 Hospitals.

13) With the Good Infrastructure and market networking, the company is expected to show substantial turnover in the next fiscal year. The company expects to get around 2000 3V Krome stents, 600 Sirolimus DES, 200 Aspiration catheters, 300 PTCA catheters used in clinical use with a top line of around Rs 0.550 Million.

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from No 273, 2^nd Floor, Joshi Plaza, 100 Feet Ring Road, Banashankari 3^rd Stage, Bangalore-560085, Karnataka, India to the present address w.e.f 26.11.2013

FIXED ASSETS:

Tangible Assets

· Land

· Office Equipment

· Furniture and Fixtures

· Air Conditioners

· Vehicles

· Computers

Intangible Assets

· Computer Software

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. 64.78
UK Pound	1	Rs. 99.54
Euro	1	Rs. 73.08

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	AMR
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.