MIRA INFORM REPORT

Report No. :	344489
Report Date :	13.10.2015

IDENTIFICATION DETAILS

Name :	HARYANA LIQUORS PRIVATE LIMITED
Registered Office :	Village Jundla, Karnal – 132036, Haryana
Tel. No.:	91-172-5059999
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.06.2010
Com. Reg. No.:	05-040720
Capital Investment / Paid-up Capital :	Rs.377.200 Million
CIN No.: [Company Identification No.]	U15531HR2010PTC040720
TAN No.: [Tax Deduction & Collection Account No.]	RTKH03455E
PAN No.: [Permanent Account No.]	AACCH4733J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Processing of Bottling and Distillation.
No. of Employees :	Information declined by the management

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of ‘Highland Alcho Beverages Private Limited’ having moderate track. For the financial year ended 2014, company has under taken business operations and it has incurred pre-operating expenses during the year under a review. As per our sources and investigation we found that, the company has completed construction of bottling cum distillation plant in Karnal. Operations in its bottling plant were commenced in the month of August 2014 while operations in distillation plant were commenced in the month of October 2014. Rating continue to derive strength from experienced promoter and management team and tie-up with United Spirits Limited for bottling of Indian Made Foreign Liquor. Rating also factor into strong financial and managerial support that company receives from its holding entity. Payments are reported to be slow but correct. 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	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	CARE
Rating	Long term Bank Facilities = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	April 2015

Rating Agency Name	CARE
Rating	Short term Bank Facilities = A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	April 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 DECLINED BY

Name :	Ms. Kusum Arya
Designation :	Not Divulged
Contact No.:	91-172-5059999
Date :	10.10.2015

LOCATIONS

Registered Office / Factory :	Village Jundla, Karnal – 132036, Haryana, India
Tel. No.:	91-172-5059999
Fax No.:	Not Available
E-Mail :	vbakshi@cdbgroup.in
Head Office :	S.C.O. 140-141, Sector 34-A, Chandigarh, India

DIRECTORS

As on 23.09.2014

Name :

Mr. Raghumit Singh Sodhi

Designation :

Director

Address :

H. No 1741, Sector-4, Panchkula - 134109, Haryana, India

Date of Birth/Age :

27.11.1975

Date of Appointment :

18.06.2010

DIN No.:

00755631

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	U51103PB2004PTC026691	SAVERA MERCANTILE PRIVATE LIMITED	Director	08/01/2004	08/01/2004	-	Active	NO
2	U26100PB2004PTC027453	G R D INGFRASTRUCTURE PRIVATE LIMITED	Director	31/08/2004	31/08/2004	-	Active	NO
3	U24230CH2005PTC028714	TOWER INFRANET SOLUTIONS PRIVATE LIMITED	Director	25/07/2005	25/07/2005	-	Active	NO
4	U45202PB2006PTC030260	YELLOW STONE INFRASTRUCTURE PVT LTD	Director	11/08/2006	11/08/2006	-	Active	NO
5	U15500CH2008PTC031086	SAVERA BEVERAGES PRIVATE LIMITED	Director	08/02/2008	08/02/2008	-	Active	NO
6	U55101CH2008PTC031462	SAPNA HOSPITALITY PRIVATE LIMITED	Director	15/01/2009	15/01/2009	05/09/2013	Active	NO
7	U40101CH2010PTC032005	GRD POWER PRIVATE LIMITED	Director	01/02/2010	01/02/2010	-	Active	NO
8	U15531HR2010PTC040720	HARYANA LIQUORS PRIVATE LIMITED	Director	18/06/2010	18/06/2010	-	Active	NO
9	U51101CH2012PTC033778	GRD HOLDINGS PRIVATE LIMITED	Managing director	03/05/2012	03/05/2012	-	Active	NO
10	U15531HR2012PTC046066	HIGHRISE SPIRITS PRIVATE LIMITED	Director	27/09/2013	08/12/2012	12/06/2014	Active	NO
11	U15500CH2013PTC034344	HIGHLAND ALCHO BEVERAGES PRIVATE LIMITED	Director	25/02/2013	25/02/2013	-	Active	NO
12	U74900CH2007PTC030951	SNS CORPORATION PRIVATE LIMITED	Director	26/09/2013	30/07/2013	-	Active	NO

Name :

Mr. Sanjeet Singh

Designation :

Director

Address :

H. No. 552, Sector 18 B, Chandigarh - 160018, Chandigarh, India

Date of Birth/Age :

21.01.1982

Date of Appointment :

22.09.2011

DIN No.:

03163588

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	U15531HR2010PTC040720	HARYANA LIQUORS PRIVATE LIMITED	Director	22/09/2011	30/07/2010	-	Active	NO
2	U15531HR2012PTC046066	HIGHRISE SPIRITS PRIVATE LIMITED	Additional director	26/05/2012	26/05/2012	10/12/2012	Active	NO
3	U74140CH2013PTC034716	RNS MANAGEMENT CONSULTANTS PRIVATE LIMITED	Director	10/09/2013	10/09/2013	-	Active	NO

Name :

Mr. Jainender Sharma

Designation :

Director

Address :

H. No. 3232-B, Thakur Sadan,, Near Ganesh Mandir Ward No. 16, Rajpura, Patiala -140401, Punjab, India

Date of Birth/Age :

24.11.1971

Date of Appointment :

23.09.2015

DIN No.:

07208989

Name :

Mr. Vivek Bakshi

Designation :

Director

Address :

House No. 1473, Phase 3-B-2, Sas Nagar, Mohali - 160059, Punjab, India

Date of Appointment :

23.09.2015

DIN No.:

00660864

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	U67120CH1996PTC019092	GOLDEN LOTUS INVESTMENTS PRIVATE LIMITED	Director	25/12/2004	25/12/2004	05/04/2007	Active	NO
2	U15520CH1996PTC017960	PUNJAB DISTILLERS AND BOTTLERS Private LIMITED	Director	27/12/2004	27/12/2004	15/02/2008	Active	NO
3	U51909CH1995PTC031515	SIGNET SUPPLIERS PVT.LTD.	Director	30/09/2013	20/06/2005	-	Active	NO
4	U51909DL1995PTC176537	CYBERWALK TECH PARK PRIVATE LIMITED	Director	20/06/2005	20/06/2005	29/11/2007	Active	NO
5	U51909CH1995PTC031448	TOP-TEN SOFTWARE PVT.LTD.	Director	29/09/2009	12/10/2005	28/03/2014	Active	NO
6	U00388CH2005PTC029355	ARV HYDRO POWER COMPANY PRIVATE LIMITED	Director	14/12/2005	14/12/2005	10/03/2008	Active	NO
7	U27106HP2005PTC000112	JOYFUL STEEL FABRICATORS PRIVATE LIMITED	Director	15/02/2006	15/02/2006	23/08/2007	Strike off	NO
8	U15520PB1986PLC006814	CHANDIGARH DISTILLERS AND BOTTLERS LIMITED	Director	25/08/2006	25/08/2006	-	Active	NO
9	U15411CH2002PTC025474	GREATER NOIDA INFOSYSTEMS PRIVATE LIMITED	Director	09/07/2007	09/07/2007	17/08/2009	Active	NO
10	U40101HP2007PTC030781	HIMANI ENERGY PRIVATE LIMITED	Director	25/09/2010	26/09/2007	10/05/2011	Active	NO
11	U45200CH2007PTC030991	AKM REAL ESTATE DEVELOPERS PRIVATE LIMITED	Additional director	16/11/2012	06/11/2007	24/01/2013	Active	NO
12	U15490CH2007PTC031015	PUNJAB SPIRITS PRIVATE LIMITED	Director	29/09/2009	03/12/2007	25/01/2011	Active	NO
13	U51101DL2006PTC148610	CAPRI INFRASTRUCTURE PRIVATE LIMITED	Director	30/09/2008	13/12/2007	26/12/2008	Active	NO
14	U65993HP2008PTC030848	CHAMUNDA RENEWABLE ENERGY PRIVATE LIMITED	Director	02/09/2009	11/03/2008	09/05/2011	Active	NO
15	U15122DL2006PTC148694	PUNJAB LIQUORS PRIVATE LIMITED	Director	30/09/2009	30/12/2008	17/12/2009	Active	NO
16	U40101CH2007PTC031012	KUT NON CONVENTIONAL ENERGY PRIVATE LIMITED	Director	29/09/2010	14/01/2009	04/01/2011	Active	NO
17	U51109CH2006NPL035192	BROADWAY DEALERS PVT LTD	Director	06/07/2009	29/04/2009	24/11/2009	Active	NO
18	U70101PB1981PTC004581	LORD PROPERTIES PRIVATE LIMITED	Director	19/09/2009	10/07/2009	-	Active	NO
19	U24119DL1987PLC019340	DIGVIJAY CHEMICALS LIMITED	Director	30/09/2009	10/07/2009	12/08/2013	Active	NO
20	U40101HP2007PTC030782	KURMI ENERGY PRIVATE LIMITED	Additional director	11/01/2014	02/09/2009	19/07/2014	Active	NO
21	U40101HP2007PTC030780	ROURA NON CONVENTIONAL ENERGY PRIVATE LIMITED	Additional director	02/09/2009	02/09/2009	25/11/2009	Active	NO
22	U40101HP2009PTC031225	KURMI NON CONVENTIONAL ENERGY PRIVATE LIMITED	Director	29/09/2009	29/09/2009	11/01/2011	Active	NO
23	U67120CH2003PTC026235	AKM SHARES AND STOCKS PRIVATE LIMITED	Director	29/09/2010	23/11/2009	-	Active	NO
24	U40101CH2007PTC030729	TIRUPATI RENEWABLE ENERGY COMPANY PRIVATE LIMITED	Director	30/09/2015	23/11/2009	-	Active	NO
25	U51109CH2006PTC035736	SUNCITY WHOLE SALE PVT LTD	Director	14/12/2009	14/12/2009	-	Active	NO
26	U70102HP2007PTC030641	SKYVIEW REAL ESTATE PRIVATE LIMITED	Director	28/09/2011	29/10/2010	-	Active	NO
27	U40101HP2007PTC030745	KUT ENERGY PRIVATE LIMITED	Director	28/09/2011	23/02/2011	22/08/2014	Active	NO
28	U40101PB2011PTC034928	HIMANI RENEWABLE ENERGY PRIVATE LIMITED	Director	11/04/2011	11/04/2011	-	Active	NO
29	U51909WB2008PTC129678	SPOTLIGHT SUPPLIERS PRIVATE LIMITED	Director	10/12/2012	10/12/2012	-	Active	NO
30	U15500PB2010PTC034451	BHAGAT SPIRITS PRIVATE LIMITED	Director	29/09/2014	12/08/2013	-	Active	NO
31	U15510HP2009PTC031224	CHANDIGARH DISTILLERS & SERVICES PRIVATE LIMITED	Director	27/09/2014	11/01/2014	-	Active	NO
32	U15400HP2007PTC030640	KARNAL LIQUORS SERVICES PRIVATE LIMITED	Additional director	28/03/2014	28/03/2014	15/07/2014	Active	NO
33	U15531HR2010PTC040720	HARYANA LIQUORS PRIVATE LIMITED	Director	23/09/2015	16/01/2015	-	Active	NO
34	U15510HP2007PTC030645	HIGHLAND ALCO SPIRITS PRIVATE LIMITED	Director	28/09/2015	02/02/2015	-	Active	NO
35	U70109CH2012PTC033562	DELHI INFRA DEVELOPERS PRIVATE LIMITED	Director	30/09/2015	24/03/2015	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 23.09.2014

Names of Shareholders	No. of Shares
Raghumit Singh Sodhi	5000
Highland Alcho Beverages Private Limited, India	4995000
Dolphin Tie Up Private Limited, India	10300000
Hanuman Suppliers Private Limited, India	22420000
Hanuman Suppliers Private Limited, India	200
Total	37720200

As on 31.03.2015

Names of Allottees	No. of Shares
Chandigarh Distillers and Bottlers Limited, India	1045
Total	1045

Equity Share Break up (Percentage of Total Equity)

As on 23.09.2014

Category	Percentage
Bodies corporate	99.90
Directors or relatives of Directors	0.10
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and Processing of Bottling and Distillation.
Products :	Not Divulged
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :
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 :
Remark:	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Canara Bank
Branch	MID Corporate Branch, Plot No.1, Sector – 34A, Chandigarh – 160022, 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 :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from others	698.000	210.000
(Equitable Mortgage of Fixed Assets, Current Assets and Entire Project Assets Including Land and Building and Plant and Machinery)
Total	698.000	210.000

Auditors :
Name :	Parveen Som and Company Chartered Accountants
Address :	House No. 3607, Sector 47-D, Chandigarh – 160047, India
PAN N Income-tax PAN of auditor or auditor's firm :	AIBPK1537H
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Highland Alcho Beverages Private Limited, India U15500CH2013PTC034344

CAPITAL STRUCTURE

After 23.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Million
33000000	Preference Shares	Rs.10/- each	Rs.330.000 Million
	Total		Rs.380.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Million
32720000	Preference Shares	Rs.10/- each	Rs.327.200 Million
	Total		Rs.377.200 Million

As on 23.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs.10/- each	Rs.300.000 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	300.000	112.500	0.500
(b) Reserves & Surplus	0.000	0.000	0.000
(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)	300.000	112.500	0.500
(3) Non-Current Liabilities
(a) long-term borrowings	702.000	210.000	89.700
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	702.000	210.000	89.700
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	124.101	17.735	0.050
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	124.101	17.735	0.050
TOTAL	1126.101	340.235	90.250
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	87.383	85.955	85.685
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	898.849	148.230	0.000
(iv) Intangible assets under development	98.293	18.031	2.044
(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	1.084	0.746	0.350
(e) Other Non-current assets	3.514	2.024	1.935
Total Non-Current Assets	1089.123	254.986	90.014
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.413	82.594	0.111
(e) Short-term loans and advances	36.502	2.636	0.113
(f) Other current assets	0.063	0.019	0.012
Total Current Assets	36.978	85.249	0.236
TOTAL	1126.101	340.235	90.250

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES	NA	NA	NA
Less	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	NA	NA	NA
Less	TAX	NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX	NA	NA	NA
	Earnings / (Loss) Per Share (Rs.)	--	--	--

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) operations	70.628	14.670	(1.797)
Net cash flow from operating activity	70.628	14.670	(1.797)

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	2.34	1.87	179.40
Current Ratio (Current Asset/Current Liability)	0.30	4.81	4.72

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	0.500	112.500	300.000
Reserves & Surplus	0.000	0.000	0.000
Net worth	0.500	112.500	300.000
long-term borrowings	89.700	210.000	702.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	89.700	210.000	702.000
Debt/Equity ratio	179.400	1.867	2.340

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)	No
16	No. of employees	No
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	No
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	No
35	Negative Reporting by Auditors in the Annual Report	No

BUSINESS OPERATIONS

This is the Fourth Financial Year of the Company. The Company has set up a Grain / Mollases Based Distillery Unit in the State of Haryana. The Company has incurred an amount of Rs. 98.275 Million on account of Pre-operative Expenses Pending Allocation upto 31.03.2014.

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Fully convertible debentures others	4.000	0.000
Total	4.000	0.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10486696	07/11/2014 *	60,000,000.00	CANARA BANK	MID CORPORATE BRANCH, PLOT NO-1, SECTOR 34A, CH  ANDIGARH, Chandigarh - 160022, INDIA	C34093930
2	10385649	07/11/2014 *	841,700,000.00	CANARA BANK	MID CORPORATE BRANCH, PLOT NO. 1, SECTOR-34A, CH  ANDIGARH, Chandigarh - 160022, INDIA	C34093047

FIXED ASSETS

• Land
• Furniture and fixtures
• Office equipment
• Computer equipments

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

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	TRI
Report Prepared by :	SUJ

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	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	NO
--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.