MIRA INFORM REPORT

Report No. :	345478
Report Date :	19.10.2015

IDENTIFICATION DETAILS

Name :	KARBONN MOBILE INDIA PRIVATE LIMITED

Registered Office :	S-57, Greater Kailash 1, New Delhi - 110048
Tel. No.:	91-11- 46604666

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	11.09.2009

Com. Reg. No.:	55-194165

Capital Investment / Paid-up Capital :	Rs. 0.100 Million

CIN No.: [Company Identification No.]	U32109DL2009PTC194165

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in marketing and manufacturing mobile phones, its offers smart phones, feature phones, tablets and software etc.

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 200

Status :	Moderate

Payment Behaviour :	Slow and delayed

Litigation :	Clear

Comments :	Karbonn is an industry-leader in bringing cutting-edge mobile technologies to India. It is a joint venture of New Delhi based “Jaina Group” and Bengaluru based “UTL Group”. Karbonn had a product portfolio spanning over 225 feature and touch phones, over 65 smartphones and over 10 tablets to serve the diverse needs of the Indian mobile market. With more than 85,000 retail counters, karbonn reaches out to people across the length and breadth of the country, with over 92% penetration across the Indian geography. Currently in the process of creating presence in 40 countries including Africa, south and South East Asia, CIS, Eastern Europe and Middle East. However, as per financials the company has not earned income from operations and recorded losses which accounted as pre operational expenses. As per the Registrar of the company status is shown active. Payments terms are reported to be slow and delayed. Since, Karbonn steadily becoming the brand of choice of the discerning mobile consumer in a country and it is fastest growing rates in mobile device consumption, the company can be considered for business dealing with some cautions.

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

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 DECLINED

Management non-cooperative (91-80-40894888/40894824/40894860)

LOCATIONS

Registered Office :	S-57, Greater Kailash 1, New Delhi – 110048, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	jjbadlani@gmail.com
Website :	http://www.karbonnmobiles.com

Corporate Office 1 :	D-170, Okhla Industrial Area, Phase-1, New Delhi – 110020, India
Tel. No.:	91-11- 46604666
E-Mail :	info@karbonnmobiles.com

Corporate Office 2 :	#39/13, off 7th main, HAL 2nd stage, Appareddy Palya, Indiranagar, Bangalore – 560038, Karnataka, India
Tel. No.:	91-80-40894888

DIRECTORS

As on 26.09.2014

Name :

Mr. Raja Mohan Rao Potluri

Designation :

Director

Address :

No. 319, Inner Circle, White Field, Bangalore-560066, Karnataka, India

Date of Birth/Age :

15.07.1951

Date of Appointment :

11.01.2013

DIN No.:

00157346

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	U40102KA1995PLC017323	United Surya Energy Limited	Director	06/03/1995	06/03/1995	20/06/2009	Active	NO
2	U72200GJ2000PLC039014	GUJARAT ONLINE LIMITED	Director	05/12/2000	05/12/2000	-	Active	NO
3	U74140TG2001PLC036823	UTL TECHNOLOGIES LIMITED	Director	01/06/2001	01/06/2001	30/03/2009	Active	NO
4	U45209KA2004PLC034031	UNITED INFRA AND WATER MANAGEMENT LIMITED	Director	28/05/2004	28/05/2004	27/02/2008	Active	NO
5	U14290KA2004PLC034346	RAJPUR MINERALS AND METALS MANAGEMENT LIMITED	Director	16/07/2004	16/07/2004	22/02/2008	Active	NO
6	U35990KA2005PTC035752	INDIA SOFTWARE LABS PRIVATE LIMITED	Director	03/03/2005	03/03/2005	27/03/2009	Active	NO
7	U64202KA2003PLC032830	JANYA CONVERGED SOLUTIONS LIMITED	Director	23/05/2007	23/05/2007	30/03/2009	Active	NO
8	U40102KA2007PLC043517	NEW ERA POWER CORPORATION LIMITED	Director	01/08/2007	01/08/2007	15/02/2008	Active	NO
9	L72200MH1986PLC039341	TRIGYN TECHNOLOGIES LIMITED	Director	23/12/2008	29/04/2008	-	Active	NO
10	U40109TG1997PLC027818	PRABHAKAR POWER PROJECTS LIMITED	Director	26/09/2011	08/06/2011	-	Active	NO
11	U32109DL2009PTC194165	KARBONN MOBILE INDIA PRIVATE LIMITED	Director	11/01/2013	11/01/2013	-	Active	NO
12	U32301KA1986PLC007800	UNITED TELECOMS LIMITED	Additional director	05/03/2014	05/03/2014	-	Active	NO
13	U32109KA1994PLC015750	UNITED TELELINKS(BANGALORE)LIMITED	Whole-time director	01/04/2015	02/03/2015	-	Active	NO

Name :

Mr. Pradeep Jain

Designation :

Director

Address :

245, Sant Nagar,East of Kailash New Delhi- 110065, India

Date of Birth/Age :

09.08.1968

Date of Appointment :

11.09.2009

DIN No.:

01060652

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	U51909DL1998PTC094062	JAINA MOBILE INDIA PRIVATE LIMITED	Director	25/05/1998	25/05/1998	-	Active	NO
2	U70109DL2006PTC149326	APPU GHAR BUILD TECH & INFRASTRUCTURE PRIVATE LIMITED	Director	30/05/2006	30/05/2006	26/03/2010	Amalgamated	NO
3	U70109DL2006PTC149791	Team Buildcon Private Limited	Director	16/06/2006	16/06/2006	28/03/2012	Active	NO
4	U64200MH2008PTC189165	SANMUKH TELECOM PRIVATE LIMITED	Director	26/12/2008	26/12/2008	-	Strike off	NO
5	U32109DL2009PTC194165	KARBONN MOBILE INDIA PRIVATE LIMITED	Director	11/09/2009	11/09/2009	-	Active	NO
6	U32204DL2011PTC229259	K TOUCH INDIA PRIVATE LIMITED	Director	26/12/2011	26/12/2011	-	Strike off	NO
7	U70100DL2011PTC215616	SEQUEL BUILDING CONCEPTS PRIVATE LIMITED	Additional director	12/12/2012	12/12/2012	-	Active	NO
8	U70109DL2012PTC235111	SUNHILL REALTY PRIVATE LIMITED	Director	31/10/2013	01/02/2013	-	Active	NO
9	U70101DL2012PTC237608	SUNHILL HOMES PRIVATE LIMITED	Director	10/12/2013	04/11/2013	-	Active	NO
10	U70109DL2013PTC254748	TRIDEO ESTATES PRIVATE LIMITED	Director	22/12/2014	28/04/2014	-	Active	NO
11	U70109DL2013PTC252499	TRIDEO BUILDCON PRIVATE LIMITED	Director	20/11/2014	03/05/2014	-	Active	NO
12	U51909DL2014PTC268807	JAINA INDIA PRIVATE LIMITED	Director	11/07/2014	11/07/2014	-	Active	NO
13	U70200DL2012PTC238111	SUNHILL BUILDWELL PRIVATE LIMITED	Director	30/09/2014	05/08/2014	-	Active	NO
14	U45201DL2006PTC146321	SUNRISE TECHNOBUILD PRIVATE LIMITED	Additional director	19/01/2015	19/01/2015	-	Converted to LLP and dissolved	NO
15	U70200DL2010PTC212011	V4 INFRATECH PRIVATE LIMITED	Additional director	19/01/2015	19/01/2015	-	Active	NO
16	U31908UP2013PTC057573	Padget Electronics Private Limited	Director	09/06/2015	09/06/2015	-	Active	NO
17	U31908DL2015PTC285056	VSUN Mobile Private Limited	Director	10/09/2015	10/09/2015	-	Active	NO
18	AAB-4210	LUXURY VILLAS LLP	Designated Partner	05/06/2013	05/06/2013	-	Active	NO
19	AAC-3135	SUNHILL DREAM HOMES LLP	Designated Partner	21/05/2014	21/05/2014	-	Active	NO
20	AAC-5690	MILLBRO METAL AND CONSORTIUM LLP	Designated Partner	11/08/2014	11/08/2014	-	Active	NO
21	AAE-3623	SUNRISE TECHNOBUILD LLP	Designated Partner	10/07/2015	10/07/2015	-	Active	NO

Name :

Mr. Sudhir Kumar Hasija

Designation :

Director

Address :

No. 7, Wellington Street, Richmond Town, Bangalore - 560025, Karnataka, India

Date of Birth/Age :

01.06.1956

Date of Appointment :

11.09.2009

DIN No.:

00157168

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	U32109KA1994PLC015750	UNITED TELELINKS(BANGALORE)LIMITED	Managing director	01/12/2010	13/06/1994	-	Active	NO
2	U32301KA1986PLC007800	UNITED TELECOMS LIMITED	Director	01/12/2000	01/12/2000	28/07/2007	Active	NO
3	U72200GJ2000PLC039014	GUJARAT ONLINE LIMITED	Director	14/12/2000	14/12/2000	01/08/2007	Active	NO
4	U67120KA1995PTC019303	SWARNA PUSHP FINLEASE PRIVATE LIMITED	Director	01/03/2002	01/03/2002	01/09/2007	Active	NO
5	U74300TG2001PLC038239	PROMUK HOFFMANN INTERNATIONAL LIMITED	Director	09/04/2005	09/04/2005	28/07/2007	Active	NO
6	U64203MH2008PTC177952	KGS TELECOM PRIVATE LIMITED	Director	18/01/2008	18/01/2008	28/02/2012	Active	NO
7	U64200MH2008PTC189165	SANMUKH TELECOM PRIVATE LIMITED	Director	26/12/2008	26/12/2008	-	Strike off	NO
8	U32109DL2009PTC194165	KARBONN MOBILE INDIA PRIVATE LIMITED	Director	11/09/2009	11/09/2009	-	Active	NO
9	U32109KA2010PTC054024	Fortuna Global Tele Device Private Limited	Director	10/06/2010	10/06/2010	-	Active	NO
10	U27108DL2002PLC223458	KALPTARU STEEL ROLLING MILLS LIMITED	Additional director	10/10/2012	10/10/2012	-	Active	NO
11	U52335MH2004PTC146893	KISHA TELELINKS PRIVATE LIMITED	Director	14/02/2014	14/02/2014	23/05/2015	Active	NO
12	U32204UP2015PTC070485	MCM Telecom Equipment Private Limited	Director	05/05/2015	05/05/2015	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2014

Names of Shareholders	No. of Shares	Percentage
Pradeep Jain	5000	50.00
Sudhir Kumar Hasija	3000	30.00
Raja Mohan Rao Potluri	2000	20.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

Category	Percentage
Directors or relatives of Directors	80.00
Other top fifty shareholders	20.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in marketing and manufacturing mobile phones, its offers smart phones, feature phones, tablets and software etc.

Products :	Mobile Phones

Brand Names :	Not Available

Agencies Held :	Not Available

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 :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

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 :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Not Divulged
Branch	Not Divulged
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

Auditors :
Name :	Jagdish and Associates Chartered Accountants
Address :	B-1, First Floor, Derawal Nagar, Delhi-110009, India
Tel. No.:	91-11-27130027
Mobile No.:	91-9810127800, 9999670767
website :	www.Jagdishandasso.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAEFJ7595D

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

500,000	Equity Shares	Rs.10/- each	Rs. 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs.10/- each	Rs. 0.100 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	0.100	0.100	0.100
(b) Reserves & Surplus	(0.032)	(0.023)	(0.015)
(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)	0.068	0.077	0.085

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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)	0.000	0.000	0.000

(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	0.130	0.132	0.124
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	0.130	0.132	0.124

TOTAL	0.198	0.209	0.209

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	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	0.000	0.000	0.000
(e) Other Non-current assets	0.109	0.109	0.109
Total Non-Current Assets	0.109	0.109	0.109

(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	0.000	0.000	0.000
(e) Short-term loans and advances	0.089	0.100	0.100
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	0.089	0.100	0.100

TOTAL	0.198	0.209	0.209

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	0.000	0.000	0.000
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA

Less	EXPENSES		NA	NA	NA

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(0.009)	(0.008)	(0.005)

Less/ Add	DEPRECIATION/ AMORTISATION		0.000	0.000	0.000

	PROFIT/ (LOSS) BEFORE TAX		(0.009)	(0.008)	(0.005)

Less	TAX		0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX		(0.009)	(0.008)	(0.005)

	Earnings / (Loss) Per Share (Rs.)		(0.86)	(0.81)	(0.52)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	0.000	0.000	0.000
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	(4.55)	(3.83)	(2.39)

Return on Investment (ROI) (PBT/Networth)		(0.13)	(0.10)	(0.06)

Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00

Current Ratio (Current Asset/Current Liability)		0.68	0.76	0.81

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	0.100	0.100	0.100
Reserves & Surplus	(0.015)	(0.023)	(0.032)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.085	0.077	0.068

long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	No
18]	Major suppliers	No
19]	Major customers	No
20]	Banking Details	No
21]	Banking facility details	No
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	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: NO CHARGES EXIST FOR COMPANY

Website Details :

A NEW GENERATION OF MOBILE PHONES THAT REDEFINES LIFE IN EVERY WAY.

Karbonn is an industry-leader in bringing cutting-edge mobile technologies to India. The #3 smartphone brand in the country, Karbonn aims to 'Massify Technology' with its portfolio of innovative user centric 'Smart' Devices designed to complement every activity in life.

Since its inception in April 2009, Karbonn has steadily become the brand of choice of the discerning mobile consumer in a country which has one of the fastest growth rates in mobile device consumption. Karbonn's expertise in bringing latest technology innovations at a price which defines 'value-for-money' is the hallmark of its success. This focus on innovation is the key attribute to the brand becoming the first choice mobile device for over a million customers, thus helping it achieve revenues of around Rs. 4500 crores in the current financial year.

A joint venture of New Delhi based Jaina Group and Bengaluru based UTL Group, Karbonn is spearheaded by Mr. Pardeep Jain, Managing Director, and Mr. Sudhir Hasija, Chairman. Headquartered in New Delhi, Karbonn offers a range of mobile communication devices under the 'Titanium' series of smartphones and 'K Series' of feature phones. It also offers a mobile eco-system - 'Karbonn Smart' - a one-stop-shop for the sophisticated needs of the highly evolved Indian mobile consumer. The inroads that Karbonn has made into the Indian handset market in terms of affordability and innovation makes it a strong competitor and a critical game changer. By Q4 2013, Karbonn had a product portfolio spanning over 225 feature and touch phones, over 65 smartphones and over 10 tablets to serve the diverse needs of the Indian mobile market. With more than 85,000 retail counters, Karbonn reaches out to people across the length and breadth of the country, with over 92% penetration across the Indian geography. Currently in the process of creating presence in 40 countries including Africa, South & South East Asia, CIS, Eastern Europe and Middle East, Karbonn plans to broaden its international footprint further by expanding to 65 countries by mid-2014. Over the years Karbonn has achieved an impressive distribution footprint which today involves 15+ E-Commerce partners, 17+ Modern Retail Partners and top teleshopping partners like StarCJ, Home Shop 18 and Shopping Zone. With over 870 service centres across India and over 12 outside India, the brand's aim is to cross 1,000 centres by the end of the current financial year, ensuring effective after sales-support to its growing consumer base.

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.64.97
UK Pound	1	Rs.100.55
Euro	1	Rs.73.99

INFORMATION DETAILS

Information Gathered by :	SUP

Analysis Done by :	KAS

Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	--
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	--
--CREDIT LINES	1~10	4
--MARGINS	-5~5
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		26

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.

MIRA INFORM REPORT

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