MIRA INFORM REPORT

Report No. :	345865
Report Date :	16.10.2015

IDENTIFICATION DETAILS

Name :	INDO ALUSYS INDUSTRIES LIMITED
Formerly Known As :	MAHAVIR ALUMINIUM LIMITED
Registered Office :	606, Tolstoy House, 15 Tolstoy Marg, Delhi – 110001
Tel. No.:	91-11-43564200
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.10.1979
Com. Reg. No.:	55-009937
Capital Investment / Paid-up Capital :	Rs. 85.079 Million
CIN No.: [Company Identification No.]	L74999DL1979PLC009937
IEC No.:	0592055621
TAN No.: [Tax Deduction & Collection Account No.]	DELM08506B
PAN No.: [Permanent Account No.]	AAACM5489L
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturer, Exporter and Importer of Sophisticated Quality Aluminium Extrusions.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated on 17^th October, 1979 it is primarily engaged into manufacturing of aluminium ingots, aluminium extruded products, aluminium architectural products, power quad-control cables, conductors, etc. The manufacturing facilities of the company are located at Bhiwadi, Rajasthan. It has satisfactory track record. Profitability of the company is low during FY2014. There is an unfavorable gap between trade receivables and trade payables. However, the company possesses a decent profile marked by adequate networth base along with fair liquidity. The rating also takes into consideration the long track record and experience of company’s promoters in the aluminium extrusion business. Trade relations are fair. Business is active. Payment are reported to be slow but correct. The company can be considered for business dealings 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	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	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 31-03-2013.

INFORMATION DENIED

Management non-cooperative (Tel No.: 91-11-43564200)

LOCATIONS

Registered/ Corporate Office :	606, Tolstoy House, 15, Tolstoy Marg, Delhi – 110001, India
Tel. No.:	91-11-43564200
Mobile No.:	91-9650595900 (Mr. Deepak)
Fax No.:	91-11-23312677
E-Mail :	info@infoalusys.com
Website :	http://www.indoalusys.com
Location :	Owned
Factory :	SP – 2/333 Industrial Area, Bhiwandi, District Alwar, Rajasthan, India
Tel. No.:	91-1493-220764/ 220868/ 220924
Fax No.:	91-1493-220786
E-Mail :	mahalm@datainfosys.net works@indoalusys.com
Location :	Owned

DIRECTORS

AS ON 23.09.2014

Name :

Pradeep Kumar Jain

Designation :

Managing Director

Address :

14 Alipur Road, Civil Lines, Delhi – 110054, India

Date of Birth/Age :

28.12.1956

Date of Appointment :

29.05.2014

PAN No.:

ACTPJ9187A

DIN No.:

00225927

Voter ID No.:

FSH0939132

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	L74999DL1979PLC009937	INDO ALUSYS INDUSTRIES LIMITED	Managing director	29/05/2014	17/10/1979	-	Active	NO
2	U74899DL1983PLC015996	SHRILON INDIA LIMITED	Director	07/03/1990	07/03/1990	-	Active	NO
3	U74899DL1977PTC008632	ASEEM CHITS PVT LTD	Director	29/09/1998	29/09/1998	-	Active	NO
4	U74899DL1980PTC010502	PSJ CONSTRUCTIONS PVT LTD	Director	29/09/1998	29/09/1998	-	Active	NO
5	U63040DL1999PLC098125	MAXIM RADIO CABS LIMITED	Director	28/01/1999	28/01/1999	01/12/2006	Active	NO
6	U74899DL1963PTC003875	SUPER TUBES PRIVATE LIMITED	Director	31/07/2009	31/07/2009	-	Active	NO
7	U74900DL2008PTC175104	PRIDE ENERGY SERVICES PRIVATE LIMITED	Director	28/09/2010	18/08/2009	07/07/2011	Active	NO
8	L25111DL1964PLC004235	JAIN TUBE COMPANY LIMITED	Additional director	11/05/2011	30/01/2010	-	Active	NO

Name :

Mahendra Dooger Kumar

Designation :

Director

Address :

B – 515, Sarita Vihar, Delhi – 110044, India

Date of Birth/Age :

01.07.1951

Date of Appointment :

25.09.2006

DIN No.:

00319034

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	U74899DL1982PTC014854	IMAGE INSURANCE BROKERS PRIVATE LIMITED	Director	18/12/1982	18/12/1982	-	Active	NO
2	L70109DL1986PLC025841	Morgan Ventures Limited	Director	23/10/1986	23/10/1986	-	Active	NO
3	U74899DL1981PTC012709	D AND A FINANCIAL SERVICES PRIVATE LIMITED	Director	20/03/1989	20/03/1989	-	Active	NO
4	U67190DL1993PLC053234	DOOGAR AND ASSOCIATES SECURITIES LIMITED	Director	23/04/1993	23/04/1993	-	Active	NO
5	U17118RJ1975PLC002275	BHILWARA PROCESSORS LTD.	Director	30/04/2001	30/04/2001	-	Amalgamated	NO
6	U74899DL1951GAP001947	PHD CHAMBER OF COMMERCE AND INDUSTRY	Director	08/12/2001	08/12/2001	-	Active	NO
7	L45201GJ1986PLC008577	CHARTERED CAPITAL AND INVESTMENT LIMITED	Director	15/09/2003	15/09/2003	26/02/2009	Active	NO
8	L74999DL1979PLC009937	INDO ALUSYS INDUSTRIES LIMITED	Director	25/09/2006	31/05/2006	-	Active	NO
9	U31101DL2006PLC148862	BHILWARA ENERGY LIMITED	Director	20/07/2006	20/07/2006	15/03/2012	Active	NO
10	L27101DL1994PLC134282	KAMDHENU ISPAT LIMITED	Director	29/09/2014	22/09/2006	-	Active	NO
11	L26941UP1983PLC027278	RADICO KHAITAN LIMITED	Director	09/09/2010	15/12/2009	30/05/2014	Active	NO
12	L24297TN1973PLC006372	DALMIA REFRACTORIES LIMITED	Director	12/08/2014	29/09/2010	-	Active	NO
13	L24302RJ1970PLC002266	BSL LTD	Director	18/09/2012	04/05/2012	06/02/2014	Active	NO
14	L74899HR1962PLC002618	FRICK INDIA LIMITED	Director	29/12/2012	20/08/2012	-	Active	NO
15	L36911RJ1989PLC004945	VAIBHAV GLOBAL LIMITED	Director	25/07/2014	23/01/2014	-	Active	NO

Name :

Avinash Prakash Gandhi

Designation :

Director

Address :

C2/14, Safdarjung Development Area, Delhi – 110014, India

Date of Birth/Age :

01.10.1938

Date of Appointment :

25.09.2006

DIN No.:

00161107

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	L74899DL1981PLC012804	LUMAX INDUSTRIES LIMITED	Director	31/07/2002	31/07/2002	-	Active	NO
2	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	30/10/2003	30/10/2003	-	Active	NO
3	L34300MH1990PLC055300	FAIRFIELD ATLAS LIMITED	Director	31/10/2003	31/10/2003	14/03/2014	Active	NO
4	U74140DL2004PTC127802	AVINAR CONSULTING PRIVATE LIMITED	Director	22/07/2004	22/07/2004	-	Active	NO
5	U74899DL1994PTC060689	PANALFA AUTOMOTIVE PRIVATE LIMITED	Director	21/10/2004	21/10/2004	05/10/2012	Active	NO
6	L31900DL1983PLC016304	HAVELLS INDIA LIMITED	Director	09/07/2014	12/05/2005	-	Active	NO
7	U34300DL1996PLC081210	CONTINENTAL ENGINES LIMITED	Director	06/10/2005	06/10/2005	22/12/2011	Active	NO
8	L74899DL1985PLC020401	MINDA CORPORATION LIMITED	Director	10/09/2014	28/01/2006	-	Active	NO
9	L29130MH1962PLC012340	FAG BEARINGS INDIA LIMITED	Director	21/04/2011	20/04/2006	-	Active	NO
10	L74999DL1979PLC009937	INDO ALUSYS INDUSTRIES LIMITED	Director	25/09/2006	31/07/2006	-	Active	NO
11	U28920KA1995PLC017793	ALUCAST AUTO PARTS LIMITED	Director	23/01/2007	23/01/2007	01/09/2008	Active	NO
12	U29221DL2007PLC160549	PANALFA AUTOELEKTRIK LIMITED	Director	19/03/2007	19/03/2007	05/10/2012	Active	NO
13	U34300DL2007PTC157344	MINDA VALEO SECURITY SYSTEMS PRIVATE LIMITED	Director	23/09/2008	31/05/2007	-	Active	NO
14	U28910PB2001PLC024790	R.N.GUPTA AND COMPANY LIMITED	Director	30/09/2011	03/05/2008	18/03/2014	Active	NO
15	U34102TG1998PLC029977	M.L.R.MOTORS LIMITED	Director	30/09/2009	20/02/2009	10/11/2012	Active	NO
16	U29253DL2006PTC155275	MINDA FURUKAWA ELECTRIC PRIVATE LIMITED	Director	30/09/2009	03/03/2009	-	Active	NO
17	L34300DL1971PLC005634	CLUTCH AUTO LIMITED	Director	29/09/2009	18/04/2009	15/03/2013	Active	NO
18	U34300DL1988PTC030280	TECH AUTO PRIVATE LIMITED	Director	06/03/2010	06/03/2010	07/03/2014	Active	NO
19	U31905DL1981PLC127345	MINDA SAI LIMITED	Director	05/09/2014	09/04/2011	-	Active	NO

Name :

Sarada Prasana Singha

Designation :

Director

Address :

Q – 505, Anupam Apartments East Arjun Nagar, Delhi – 110032, India

Date of Birth/Age :

06.08.1934

Date of Appointment :

15.10.2003

DIN No.:

00249043

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

SHAREHOLDERS DETAILS ARE NOT AVAILABLE.

AS ON 23.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Public Financial Companies	3.92
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	12.59
Bodies corporate	28.79
Directors or relatives of Directors	50.68
Other top fifty shareholders	4.02
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Sophisticated Quality Aluminium Extrusions.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

Reference :	Not Divulged
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 :

Not Divulged

Reference :	Not Divulged
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 :

Information declined by the management

Bankers :

• IDBI Bank Limited, Indian Red Cross Society Building, 1 Red Cross Road, New Delhi – 110001, India
• Axis Bank Limited, 2nd Floor, Statesman House, 148, Barakhamba Road, New Delhi, Delhi - 110001, India
• State Bank of Mysore, Nehru Place, New Delhi – 110019, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Rupee term loan from banks	25.000	91.400
Term loan from others	53.794	50.000
Other loan and advances	50.479	45.009
SHORT TERM BORROWINGS
Loans repayable on demand from banks	434.155	295.087
Other loans and advances, others	99.144	152.557
Total	662.572	634.053

Banking Relations :
Auditors :
Name :	B. K. Shroff and Company Chartered Accountants
Address :	3/ 7B, Asaf Ali Road, New Delhi – 110002, India
PAN No.:	AADFB4923G
Memberships :	--
Collaborators :	--
Associate :	Aseem Chits Private Limited
Others :	Indo Alusys Industries Limited Employees Group Gratuity Fund

CAPITAL STRUCTURE

AS ON 23.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs. 10/- each	Rs. 150.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8507866	Equity Shares	Rs. 10/- each	Rs. 85.079 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	85.079	85.079	85.079
(b) Reserves & Surplus	1872.666	1313.313	1317.457
(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)	1957.745	1398.392	1402.536
(3) Non-Current Liabilities
(a) long-term borrowings	262.191	311.282	313.835
(b) Deferred tax liabilities (Net)	76.441	69.264	56.427
(c) Other long term liabilities	173.429	160.800	96.575
(d) long-term provisions	19.904	16.570	15.028
Total Non-current Liabilities (3)	531.965	557.916	481.865
(4) Current Liabilities
(a) Short term borrowings	533.299	447.644	407.280
(b) Trade payables	834.007	602.317	613.602
(c) Other current liabilities	134.500	147.460	98.808
(d) Short-term provisions	0.601	5.850	7.964
Total Current Liabilities (4)	1502.407	1203.271	1127.654
TOTAL	3992.117	3159.579	3012.055
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2133.341	1584.302	1581.670
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	9.746
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	2.001	2.001	2.001
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	8.380	4.461	5.789
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	2143.722	1590.764	1599.206
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1230.132	1026.127	818.456
(c) Trade receivables	414.187	375.292	312.203
(d) Cash and cash equivalents	54.704	48.034	146.414
(e) Short-term loans and advances	108.692	85.407	109.723
(f) Other current assets	40.680	33.955	26.053
Total Current Assets	1848.395	1568.815	1412.849
TOTAL	3992.117	3159.579	3012.055

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	2960.371	3057.552	2539.702
		Other Income	22.867	33.185	16.287
		TOTAL (A)	2983.238	3090.737	2555.989
Less	EXPENSES
		Cost of Materials Consumed	2315.636	2418.187	1994.472
		Purchases of Stock-in-Trade	29.228	169.706	20.377
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(79.781)	(194.638)	(20.275)
		Expenditure on production, transportation and other expenditure pertaining to E and P activities	18.072	14.627	101.719
		Employees benefits expense	129.650	119.413	17.077
		Other expenses	303.814	287.146	227.730
		TOTAL (B)	2716.619	2814.441	2341.100
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		266.619	276.296	214.889
Less	FINANCIAL EXPENSES (D)		196.166	188.143	122.781
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		70.453	88.153	92.108
Less/ Add	DEPRECIATION/ AMORTISATION (F)		47.401	45.317	31.222
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		23.052	42.836	60.886
Less	TAX (H)		6.463	14.214	24.208
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		16.589	28.622	36.678
	Earnings / (Loss) Per Share (Rs.)		1.95	3.36	4.31

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 flow from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	0.56	1.40	1.44
Operating Profit Margin (PBDIT/Sales)	(%)	9.01	9.04	8.46
Return on Total Assets (PBT/Total Assets}	(%)	0.58	1.36	2.03
Return on Investment (ROI) (PBT/Networth)		0.01	0.03	0.04
Debt Equity Ratio (Total Debts/Networth)		0.41	0.54	0.51
Current Ratio (Current Asset/Current Liability)		1.23	1.30	1.25

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	85.079	85.079	85.079
Reserves & Surplus	1317.457	1313.313	1872.666
Net worth	1402.536	1398.392	1957.745
long-term borrowings	313.835	311.282	262.191
Short term borrowings	407.280	447.644	533.299
Total borrowings	721.115	758.926	795.490
Debt/Equity ratio	0.514	0.543	0.406

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	2539.702	3057.552	2960.371
		20.390	(3.178)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	2539.702	3057.552	2960.371
Profit	36.678	28.622	16.589
	1.44%	0.94%	0.56%

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	No
8	Designation of contact person	No
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	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	Yes
26	Turnover of firm for last three years	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	No
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	10552583	14/02/2015	20,000,000.00	AXIS BANK LTD.	2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD,  NEW DELHI, Delhi - 110001, INDIA	C45318409
2	10493721	10/05/2014	15,000,000.00	MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED	GATEWAY BUILDING, APOLLO BUNDER ., MUMBAI, Maharashtra - 400001, INDIA	C04362406
3	10463705	26/11/2013 *	1,475,000,000.00	STATE BANK OF MYSORE	3,4,5 DDA BUILDING, NEW DELHI, Delhi - 110019, INDIA	C16027674
4	10367665	02/01/2013 *	100,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai,  Maharashtra - 400001, INDIA	B65587248
5	10366588	18/07/2012	1,115,000,000.00	STATE BANK OF MYSORE	3,4,5 DDA BUILDING, NEHRU PLACE, NEW DELHI, Delhi - 110019, INDIA	B44198117
6	10320639	02/01/2012 *	80,000,000.00	STATE BANK OF BIKANER AND JAIPUR	DEVIKA TOWER, 6, NEHRU PLACE, NEW DELHI, Delhi - 110019, INDIA	B32705600
7	10243127	25/11/2011 *	81,000,000.00	AXIS BANK LIMITED	4/10, OPG HOUSE, ASAF ALI ROAD, New Delhi, Delhi - 110002, INDIA	B26373837
8	10143090	25/10/2010 *	75,000,000.00	AXIS BANK LTD.	4/10, OPG HOUSE, ASAF ALI ROAD, NEW DELHI, Delhi - 110002, INDIA	B00196006
9	80025372	10/09/2012 *	40,000,000.00	State Bank of Mysore	3,4 & 5 DDA BUILDING, NEHRU PLACE, NEW DELHI, Delhi - 110019, INDIA	B57768244

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Loans and advances from others	20.658	12.613
Other loans and advances	112.260	112.260
Total	132.918	124.873

FIXED ASSETS

• Land
• Buildings
• Plant and Equipments
• Factory Equipments
• Furniture and Fixture
• Vehicles
• Office 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 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. 64.82
UK Pound	1	Rs. 100.41
Euro	1	Rs. 74.50

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	RAS
Report Prepared by :	JYO

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	2
--LIQUIDITY	1~10	5
5-LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	O
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.