MIRA INFORM REPORT

Report No. :	345930
Report Date :	19.10.2015

IDENTIFICATION DETAILS

Name :	DEV PRIYA PRODUCTS PRIVATE LIMITED (19.11.2014)
Formerly Known As :	DEV PRIYA PRODUCTS LIMITED
Registered Office :	1^st Floor, 4, Shankar Vihar, 2nd Floor, Vikas Marg, New Delhi - 110092
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	09.07.1993
Com. Reg. No.:	55-054397
Capital Investment / Paid-up Capital :	Rs.53.500 Million
CIN No.: [Company Identification No.]	U74899DL1993PTC054397
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELD07064B / DELD03686E
PAN No.: [Permanent Account No.]	AAACD4276C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Kraft Paper and Coated Board.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1993 and it is engaged in manufacturing, exporting and importing of Kraft liner and coated board by recycling of waste paper. For the financial year ended 2014, company has reported 21.13% sales turnover growth as compared to previous sales turnover and it has maintained above average profitability margins at 1.95% during the year under a review. Rating also takes into consideration its sound financial profile marked by above average networth base along with modest liquidity position and debt coverage indicators. Trade relations are reported as fair. Payment terms are reported to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Shahbaz Ansari
Designation :	Assistant Manager Finance
Contact No.:	91-9917831592
Date :	15.10.2015

LOCATIONS

Registered Office :	1^st Floor, 4, Shankar Vihar, 2nd Floor, Vikas Marg, New Delhi – 110092, India
Tel. No.:	91-11-22013156/ 22013159/ 22460457
Mobile no. :	91-9917831592 (Mr. Shahbaz Ansari)
Fax No.:	91-11-22013156/ 22013159
E-Mail :	csviveksingh@gmail.com sales@devproduct.com accounts@devproduct.com project@devproduct.com
Website :	http://www.devpriya.in http://www.devproduct.com
Location:	Rented
Locality:	Industrial
Admin/ Correspondence Office :	A-2, Shambhu Nagar, Baghpat Road, Meerut – 250002, Uttar Pradesh, India
Telefax :	91-121-2512181
Factory :	Village Saini, 8th Km, Mawana Road, Meerut, Uttar Pradesh, India
Tel. No.:	91-121-2623031/ 2620133/ 2620933
Fax No.:	91-121-2621904
E-Mail :	info@devproduct.com

DIRECTORS

As on 29.09.2014

Name :

Mr. Sanjeev Gupta

Designation :

Whole-time director

Address :

A-2, Shambhu Nagar, Baghpat Road, Meerut – 250002, Uttar Pradesh, India

Date of Birth/Age :

18.05.1970

Qualification :

MBA

Date of Appointment :

01.04.2010

PAN No.:

AARPG1008R

DIN No.:

00060848

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	U25190DL2000PTC106438	RPG INDUSTRIAL PRODUCT PRIVATE LIMITED	Director	23/06/2000	23/06/2000	-	Active	NO
2	U51909DL1997PTC084439	AVTAR DISTRIBUTORS PRIVATE LIMITED	Director	15/03/2002	15/03/2002	-	Active	NO
3	U74899DL1993PTC054397	DEV PRIYA PRODUCTS Private Limited	Whole-time director	01/04/2010	01/04/2003	-	Active	NO
4	U91110UP1945NPL001322	THE WESTERN U.P. CHAMBER OF COMMERCE AND INDUSTRY	Director	23/09/2010	23/09/2010	-	Active	NO
5	U24232UP2005PTC030508	ZEALOUS BIOTECHNOLOGIES PRIVATE LIMITED	Director	01/12/2010	01/12/2010	10/11/2011	Active	NO
6	U45400WB1997PTC085820	RPG NIRMAN PRIVATE LIMITED	Additional director	01/09/2011	01/09/2011	-	Active	NO
7	U70101DL2006PTC146584	KCSK BUILDWELL PRIVATE LIMITED	Director	11/11/2011	11/11/2011	-	Active	NO
8	U74120UP2012PTC053201	LONGTELE ENTERPRISES PRIVATE LIMITED	Director	30/09/2013	01/12/2012	31/03/2015	Active	NO
9	U74999DL2015PTC285947	V.R. PORTFOLIO PRIVATE LIMITED	Director	05/10/2015	05/10/2015	-	Active	NO

Name :

Mr. Rajeev Kumar Gupta

Designation :

Whole-time director

Address :

A-2, Shambhu Nagar, Baghpat Road, Meerut – 250002, Uttar Pradesh, India

Date of Birth/Age :

02.04.1965

Qualification :

P.G. Mechanical

Date of Appointment :

01.04.2013

PAN No.:

AAQPG8120R

DIN No.:

00126905

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	U25190DL2000PTC106438	RPG INDUSTRIAL PRODUCT PRIVATE LIMITED	Director	23/06/2000	23/06/2000	-	Active	NO
2	U74899DL1993PTC054397	DEV PRIYA PRODUCTS Private Limited	Whole-time director	01/04/2013	01/04/2003	-	Active	NO
3	U45400WB1997PTC085820	RPG NIRMAN PRIVATE LIMITED	Director	05/05/2011	02/05/2008	-	Active	NO

Name :

Mr. Manish Gupta

Designation :

Whole-time director

Address :

A-2, Shambhu Nagar, Baghpat Road, Meerut – 250002, Uttar Pradesh, India

Date of Birth/Age :

11.08.1972

Qualification :

Graduate

Date of Appointment :

01.04.2013

PAN No.:

AATPG4474F

DIN No.:

00052876

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	U74899DL1993PTC053796	HOLY COMMERICIAL PRIVATE LIMITED	Director	20/09/2002	20/09/2002	-	Active	NO
2	U74899DL1987PTC051459	DEV PRIYA PAPERS PRIVATE LIMITED	Director	01/10/2002	01/10/2002	01/10/2009	Active	NO
3	U74899DL1993PTC054397	DEV PRIYA PRODUCTS Private Limited	Whole-time director	01/04/2013	10/03/2006	-	Active	NO
4	U45400WB2007PTC120520	WATIKA NIRMAN PRIVATE LIMITED	Director	01/05/2010	01/05/2010	-	Active	NO
5	U45400WB1997PTC085820	RPG NIRMAN PRIVATE LIMITED	Additional director	01/09/2011	01/09/2011	-	Active	NO
6	U70101DL2006PTC146584	KCSK BUILDWELL PRIVATE LIMITED	Director	11/11/2011	11/11/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Shahbaz Ansari
Designation :	Assistant Manager Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders	No. of Shares
Manish Kumar Gupta	717000
Rajeev Gupta	520500
Sanjeev Gupta	750000
Suresh Chand Goel	25000
Holy Commercial Private Limited, India	475000
Satish Chand Goel	25000
Benu Gupta	80000
Devanshu Gupta	150000
A.S. Papers Private Limited, India	325000
V R Port Folio Limited, India	612500
RPG Nirman Private Limited, India	910000
Kalpana Gupta	200000
Dhruv Gupta (UG) Manish Gupta	50000
Manish Dhuv Trust	20500
Bhavya RPG Trust	23000
Waitka Nirman Private Limited, India	424000
Krish RPG Trust	42500
Total	5350000

As on 29.09.2014

Category	Percentage
Bodies corporate	51.34
Directors or relatives of Directors	48.66
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Kraft Paper and Coated Board.

Products :

Product Description	Item Code No. (ITC Code)
Paper and Paper Board	48043900

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Products :

Kraft Paper

Countries :

· Uganda

· Bangladesh

Imports :

Products :

Raw Material

Countries :

· United Arab Emirates

· United State of America

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Capital Trading Company
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	Hukumchand Shikhar Chand Jain Private Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

· Life’s Good

· Moserbaer

· Samsung Electronics

· Sony

· Videocon Industries

· Onida

· Ranbaxy

· HP

· Unilever

· Haverd

· Eveready

· Whirlpool Electronics

· Nestle

· Anchor

· Unilever

· Cadbury

· Bajaj

· Philips

No. of Employees :

200 (Approximately)

Bankers :

Bank Name	Punjab National Bank
Branch	Sports Complex, Meerut - 250001, Uttar 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 Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Cash and Credit Rs.350.000 Million
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 Loan from Banks	110.011	164.474
SHORT TERM BORROWING
Working capital loan from banks	208.280	174.191
Total	318.291	338.665

Auditors :
Name :	Shiam and Company Chartered Accountants
Address :	33/46A, 1st Floor, Agarwal Market, Arya Samaj Road, Muzaffarnagar – 251001, Uttar Pradesh, India
PAN N Income-tax PAN of auditor or auditor's firm :	AACFS9134R
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
7000000	Equity Shares	Rs.10/- each	Rs.70.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5350000	Equity Shares	Rs.10/- each	Rs.53.500 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	53.500	53.500	53.500
(b) Reserves & Surplus	367.261	316.901	267.945
(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)	420.761	370.401	321.445
(3) Non-Current Liabilities
(a) long-term borrowings	310.134	332.255	376.378
(b) Deferred tax liabilities (Net)	103.438	89.504	65.937
(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)	413.572	421.759	442.315
(4) Current Liabilities
(a) Short term borrowings	208.280	174.191	211.231
(b) Trade payables	360.357	323.693	282.387
(c) Other current liabilities	142.707	100.359	89.113
(d) Short-term provisions	1.994	1.098	1.215
Total Current Liabilities (4)	713.338	599.341	583.946
TOTAL	1547.671	1391.501	1347.706
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	578.021	562.996	564.094
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.854	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	7.996	14.907	18.366
(e) Other Non-current assets	47.094	42.530	28.840
Total Non-Current Assets	633.111	621.287	611.300
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	241.352	250.954	243.291
(c) Trade receivables	601.877	451.883	400.688
(d) Cash and cash equivalents	24.835	30.005	31.379
(e) Short-term loans and advances	46.496	37.372	61.048
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	914.560	770.214	736.406
TOTAL	1547.671	1391.501	1347.706

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2836.224	2340.74	2343.069
	Other Income	1.530	1.818	8.291
	TOTAL	2837.754	2342.558	2351.360
Less	EXPENSES
	Cost of Materials Consumed	1921.749	1608.249	1691.488
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(13.331)	(4.825)	14.247
	Employees benefits expense	53.951	43.252	38.646
	Other expenses	679.689	498.652	428.9
	TOTAL	2642.058	2145.328	2173.281
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	195.696	197.230	178.079
Less	FINANCIAL EXPENSES	62.331	67.623	67.449
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	133.365	129.607	110.630
Less/ Add	DEPRECIATION/ AMORTISATION	57.925	57.000	59.659
	PROFIT/ (LOSS) BEFORE TAX	75.440	72.607	50.971
Less	TAX	20.080	23.651	15.589
	PROFIT/ (LOSS) AFTER TAX	55.360	48.956	35.382
	Earnings / (Loss) Per Share (Rs.)	9.41	9.15	6.61

Particulars	31.03.2015
Sales Turnover (Approximately)	3170.000

Expected Sales (2015-2016) : Rs. 3500.000 Million

The above information has been parted by Mr. Shahbaz Ansari (Assistant Manager Finance)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	55.257	48.781	57.407
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	160.397	180.043	140.610
Net cash flow from operating activity	82.374	97.808	62.771

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.95	2.09	1.51
Operating Profit Margin (PBIDT/Sales)	(%)	6.90	8.43	7.60
Return on Total Assets (PBT/Total Assets}	(%)	4.87	5.22	3.78
Return on Investment (ROI) (PBT/Networth)		0.18	0.20	0.16
Debt Equity Ratio (Total Debt /Networth)		1.36	1.50	2.01
Current Ratio (Current Asset/Current Liability)		1.28	1.29	1.26

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	53.500	53.500	53.500
Reserves & Surplus	267.945	316.901	367.261
Net worth	321.445	370.401	420.761
long-term borrowings	376.378	332.255	310.134
Short term borrowings	211.231	174.191	208.280
Current Maturities of Long-Term Debts	57.407	48.781	55.257
Total borrowings	645.016	555.227	573.671
Debt/Equity ratio	2.007	1.499	1.363

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	2343.069	2340.740	2836.224
		(0.099)	21.168

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	2343.069	2340.740	2836.224
Profit	35.382	48.956	55.360
	1.51%	2.09%	1.95%

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	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	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	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

OPERATIONS:

The Company has produced during the year 95055.749M.T High B.F Kraft Paper and Coated Duplex Board as against 85854.41M.T during the Previous Year. The total realization from Sales is Rs. 3001.672 Million during the year as against Rs. 2485.357 Million during the previous year. The company has earned a Profit before Tax of Rs. 75.440 Million as against a profit of Rs. 72.608 Million during the previous years. The Directors expect better result in the coming years.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Intercorporate borrowing	163.511	138.852
Loan and Advances from related parties	36.612	28.929
Total	200.123	167.781

INDEX OF CHARGES

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10375465	07/09/2012	1,125,000.00	Punjab National Bank	Retail Asset Branch, Meerut, Meerut - 250001, Uttar Pradesh, India	B57672933
2	10323585	26/06/2013 *	415,000,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	B80110174
3	10305609	18/08/2011	650,000.00	Punjab National Bank	E.K. Road, Meerut - 250001, Uttar Pradesh, India	B20236568
4	10248635	16/09/2010	675,000.00	Punjab National Bank	E.K. Road, Meerut - 250001, Uttar Pradesh, India	A97953442
5	10219577	21/04/2010	50,000,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	A85387397
6	10219581	21/04/2010	200,000,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	A85387900
7	10188065	09/11/2009	5,000,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	A74093592
8	10188064	26/10/2009	380,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	A74092925
9	10155596	30/03/2009	1,500,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	A61640975
10	10146537	25/02/2009	550,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	A58220369
11	10101279	02/04/2008	30,000,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	A37374469
12	10095802	09/08/2007	28,700,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	A35350412
13	10288805	09/08/2007	28,700,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	A21760988
14	10038149	22/01/2007	1,700,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	A10869790
15	10013410	26/06/2006	600,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	A02334506
16	90055409	06/12/2006 *	10,000,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	-
17	90055265	16/04/2004	30,000,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	-
18	90055242	25/03/2004	4,000,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	-
19	90054037	25/10/2000	618,400.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	-
20	90053886	10/04/2000	370,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	-
21	90053856	21/03/2000	525,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	-
22	90053673	11/08/1999	495,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	-
23	90053230	31/12/1997	44,000,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	-
24	90053177	02/08/2012 *	300,000,000.00	Punjab National Bank	Sports Complex, Meerut - 250001, Uttar Pradesh, India	B56399827
25	90053064	23/07/2002 *	29,000,000.00	U.P.F.C	14/88; Civil Lines, Kanpur, Uttar Pradesh, India	-

FIXED ASSETS

· Land

· Buildings

· Office building

· Factory building

· Plant and equipment

· Factory equipments

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipments

· Other 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.64.96
UK Pound	1	Rs.100.55
Euro	1	Rs.73.99

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAR
Report Prepared by :	SUD

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	5
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.