MIRA INFORM REPORT

Report No. :	340900
Report Date :	15.09.2015

IDENTIFICATION DETAILS

Name :	RAJDA SALES (CALCUTTA) PRIVATE LIMITED
Registered Office :	10 Pollock Street, Kolkata-700001, West Bengal
Tel. No.:	91-33-22352110
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.03.1974
Com. Reg. No.:	21-029341
Capital Investment / Paid-up Capital :	Rs. 3.165 Million
CIN No.: [Company Identification No.]	U24239WB1974PTC029341
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CALR00512B
PAN No.: [Permanent Account No.]	AABCR2652K
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Distributor of various polymers, organic, Inorganic Chemicals, Solvents and Intermediates.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (33)

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 an old and established company incorporated in the year 1974, it is having moderate track. Rating takes into consideration moderate financial risk profile marked by leveraged capital structure of the company along with modest networth base. However, company has earned fair net profit margin in FY14. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long Term Rating=B+
Rating Explanation	Risk-prone-credit-quality and carries very high credit risk
Date	April, 2015
Rating Agency Name	ICRA
Rating	Short Term Rating=A4
Rating Explanation	Minimal degree of safety and very high 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 PARTED BY

Name :	Mr. Amar Seth
Designation :	Director
Contact No.:	91-9331054236
Date :	14.09.2015

LOCATIONS

Registered Office :	10 Pollock Street, Kolkata-700001, West Bengal, India
Tel. No.:	91-33-22352110/ 22352111/ 22356662/ 22356664
Mobile No.:	91-9331054236 (Mr. Amar Seth)
Fax No.:	91-33-22215694
E-Mail :	rajda@rajdagroup.com
Website :	www.rajda.in
Area :	(Approximately) 2000 Sq. Ft
Location :	Owned

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Narendra Laxmidas Kapadia

Designation :

Managing Director

Address :

9 Mullen Street, Kolkata-700020, West Bengal, India

Date of Birth/Age :

19.01.1947

Date of Appointment :

01.09.2014

DIN No.:

00057688

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	U25209WB1985PTC038579	S N T POLYCOAT PRIVATE LIMITED	Director	15/02/1985	15/02/1985	-	Strike off	NO
2	U74140WB1987PTC043325	MARKET DYNAMICS PRIVATE LIMITED	Director	28/05/1994	28/05/1994	-	Converted to LLP and dissolved	NO
3	U15142WB1994PTC064155	INDRADHANUSH AGENCIES PRIVATE LIMITED	Director	28/07/1994	28/07/1994	-	Converted to LLP and dissolved	NO
4	U24239WB1974PTC029341	RAJDA SALES (CALCUTTA) PRIVATE LIMITED	Managing director	01/09/2014	08/04/1995	-	Active	NO
5	L67190WB1983PLC035658	VCK CAPITAL MARKET SERVICES LIMITED	Director	26/03/1997	26/03/1997	28/05/2013	Active	NO
6	U51109WB1983PTC036004	SURAJ INDIA PRIVATE LIMITED	Director	29/09/2001	29/09/2001	-	Active	NO
7	U36900WB2011PTC162629	RTM SOLUTIONS PRIVATE LIMITED	Director	16/05/2011	16/05/2011	15/02/2013	Active	NO
8	U24117WB1992PTC055436	RAJDA INDUSTRIES ANDEXPORTS PRIVATE LIMITED	Director	19/09/2012	25/06/2012	-	Active	NO
9	U91110WB2001NPL093713	CONFEDERATION OF WEST BENGAL TRADE ASSOCIATIONS	Director	24/08/2012	24/08/2012	-	Active	NO
10	AAD-7763	MARKET DYNAMICS LLP	Designated Partner	17/04/2015	17/04/2015	-	Active	NO
11	AAD-8026	INDRADHANUSH AGENCIES LLP	Designated Partner	22/04/2015	22/04/2015	-	Active	NO

Name :

Mr. Gautam Rajda

Designation :

Director

Address :

1B,Lovelock Place, Ballygunge, Kolkata-700019, West Bengal, India

Date of Birth/Age :

21.11.1974

Date of Appointment :

13.04.2002

DIN No.:

00624576

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74140WB1987PTC043325	MARKET DYNAMICS PRIVATE LIMITED	Director	28/05/1994	28/05/1994	Converted to LLP and dissolved	NO
2	U51909WB1985PTC038833	AMAR MILLS STORES COMPAANY PRIVATE LIMITED	Director	16/03/2001	16/03/2001	Amalgamated	NO
3	U24239WB1974PTC029341	RAJDA SALES (CALCUTTA) PRIVATE LIMITED	Director	13/04/2002	13/04/2002	Active	NO
4	U18109WB2007PTC115356	RICCARDO FERDUCCI FASHIONS PRIVATE LIMITED	Director	26/04/2007	26/04/2007	Strike off	NO
5	U24117WB1992PTC055436	RAJDA INDUSTRIES ANDEXPORTS PRIVATE LIMITED	Managing director	01/08/2014	19/10/2009	Active	NO
6	U51909GJ2004PTC043474	TRANSCHEM AGRITECH PRIVATE LIMITED	Director	24/06/2013	08/04/2013	Active	NO
7	AAD-7763	MARKET DYNAMICS LLP	Designated Partner	17/04/2015	17/04/2015	Active	NO

Name :

Mr. Dipak Jayantilal Gathani

Designation :

Whole-Time Director

Address :

15B, Earle Street, Kolkata-700026, West Bengal, India

Date of Birth/Age :

18.06.1961

Date of Appointment :

01.10.2014

DIN No.:

00663999

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U51909WB1985PTC038833	AMAR MILLS STORES COMPAANY PRIVATE LIMITED	Director	16/02/2004	16/02/2004	Amalgamated	NO
2	U24239WB1974PTC029341	RAJDA SALES (CALCUTTA) PRIVATE LIMITED	Whole-time director	01/10/2014	01/12/2006	Active	NO

Name :

Mr. Amar Seth

Designation :

Managing Director

Address :

7/1A, Hazra Road, Edcon Chamber, Kolkata-700026, West Bengal, India

Date of Birth/Age :

05.12.1946

Date of Appointment :

01.09.2014

DIN No.:

01585470

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	U24296WB1974PTC101034	RAJDA CHEM PRIVATE LIMITED	Director	05/12/1974	05/12/1974	-	Active	NO
2	U24239WB1974PTC029341	RAJDA SALES (CALCUTTA) PRIVATE LIMITED	Managing director	01/09/2014	08/04/1995	-	Active	NO
3	U36900WB2011PTC162629	RTM SOLUTIONS PRIVATE LIMITED	Director	30/09/2013	15/02/2013	06/05/2015	Active	NO
4	U24117WB1992PTC055436	RAJDA INDUSTRIES AND EXPORTS PRIVATE LIMITED	Director	29/09/2014	29/09/2014	-	Active	NO

Name :

Mr. Bharat Karsndas Shah

Designation :

Director

Address :

137 S.P. Mukherjee Road, Kolkata-700026, West Bengal, India

Date of Birth/Age :

22.03.1960

Date of Appointment :

01.10.2014

DIN No.:

02512947

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U24239WB1974PTC029341	RAJDA SALES (CALCUTTA) PRIVATE LIMITED	Whole-time director	01/10/2014	01/12/2006	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	10.00
Directors or relatives of directors	89.99
Others	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Distributor of various polymers, organic, Inorganic Chemicals, Solvents and Intermediates.
Products :	· Organic · Inorganic Chemicals · Solvents and Intermediates
Brand Names :	Not Available
Agencies Held :	· Reliance Industries Limited · Kalpena Industries Limited · Transpek-silox Industry Limited · Anupam Colours (Private) Limited
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Credit (30/ 60/ 90 days)
Purchasing :	Cash and Credit (30/ 60/ 90 days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

End Users and OEMs

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

20 (Approximately)

Bankers :

Bank Name:	Vijaya Bank
Branch:	Brebourne Road Branch, 1, R. N. Mukherjee Road, Kolkata - 700001, West Bengal, India
Person Name (With Designation):	Not Divulged
Contact Number:	91-33-22435625 (Number Ringing)
Name Of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year Of A/C Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (Cc/Od/Term Loan):	Cash Credit=Rs. 49.500 Million
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Canara Bank

2; Brebourne Road, Culcutta-700001, West Bengal, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
HDFC Bank for Vehicle	0.042	0.160
SHORT TERM BORROWINGS
From Intercorporate	24.000	6.350
Overdraft Against Hypothecation of book debts with Vijaya Bank	19.443	10.087
HDFC Bank Channel Finance	0.000	6.244
From Shareholders (Repayable on demand)	33.299	47.910
Total	76.784	70.751

Banking Relations :	--
Auditors :
Name :	Gandhi Arun and Company Chartered Accountants
Address :	514,Paddapukur Road, 3rd Floor, Kolkata-700020, West Bengal, India
Tel. No.:	91-33-64500250/ 24190515-16
E-Mail :	gandhiarun2012@gmail.com
Income-tax PAN of auditor or auditor's firm :	AAEFG5051G
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital: Rs. 15.000 Million

Issued, Subscribed & Paid-up Capital: Rs. 12.787 Million

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 100/- each	Rs. 10.000 Million
10000	Preference Shares	Rs. 100/- each	Rs. 1.000 Million
	Total		Rs. 11.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
31648	Equity Shares	Rs. 100/- each	Rs. 3.165 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	3.165	2.920	2.920
(b) Reserves & Surplus	16.598	11.823	10.776
(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)	19.763	14.743	13.696
(3) Non-Current Liabilities
(a) Long-term borrowings	0.042	0.160	37.360
(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	0.555	0.512	0.897
Total Non-current Liabilities (3)	0.597	0.672	38.257
(4) Current Liabilities
(a) Short term borrowings	76.742	70.591	20.741
(b) Trade payables	53.980	27.819	24.567
(c) Other current liabilities	96.917	46.112	33.778
(d) Short-term provisions	7.381	6.480	5.864
Total Current Liabilities (4)	235.020	151.002	84.950
TOTAL	255.380	166.417	136.903
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.258	1.703	2.273
(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	1.789	1.739	1.739
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	30.870	28.992	26.894
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	33.917	32.434	30.906
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3.172	3.840	0.675
(c) Trade receivables	202.714	124.765	100.367
(d) Cash and cash equivalents	13.975	4.568	4.053
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	1.602	0.810	0.902
Total Current Assets	221.463	133.983	105.997
TOTAL	255.380	166.417	136.903

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	47.717	40.369	NA
		Other Income	27.243	21.081	NA
		TOTAL (A)	74.960	61.450	NA
Less	EXPENSES
		Purchases of Stock-in-Trade	42.132	39.782	NA
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.668	(3.164)	NA
		Employees benefits expense	1.866	1.955	NA
		Other expenses	12.157	9.446	NA
		TOTAL (B)	56.823	48.019	NA
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		18.137	13.431	NA
Less	FINANCIAL EXPENSES (D)		14.348	10.735	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.789	2.696	2.246
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.501	0.508	0.550
	PROFIT BEFORE TAX (E-F) (G)		3.288	2.188	1.696
Less	TAX (H)		1.553	1.141	1.209
	PROFIT AFTER TAX (G-H) (I)		1.735	1.047	0.487
	Earnings Per Share (Rs.)		55.00	36.00	1.67

PARTICULARS	31.03.2015
Sales Turnover (Approximately)	80.000

The above information has been parted by Mr. Amar Seth (Director)

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 Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	3.64	2.59	NA
Operating Profit Margin (PBDIT/Sales)	(%)	38.01	33.27	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.30	1.33	1.25
Return on Investment (ROI) (PBT/Networth)		0.17	0.15	0.12
Debt Equity Ratio (Total Debt/Networth)		3.89	4.80	4.24
Current Ratio (Current Asset/Current Liability)		0.94	0.89	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 Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	2.920	2.920	3.165
Reserves & Surplus	10.776	11.823	16.598
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	13.696	14.743	19.763
Long-term borrowings	37.360	0.160	0.042
Short term borrowings	20.741	70.591	76.742
Total borrowings	58.101	70.751	76.784
Debt/Equity ratio	4.242	4.799	3.885

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	40.369	47.717
		18.202

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	40.369	47.717
Profit	1.047	1.735
	2.59%	3.64%

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	Yes
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	Yes
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 two 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	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10423559	08/10/2013 *	40,000,000.00	VIJAYA BANK	BRABOURNE ROAD BRANCH, 1, R.N. MUKHERJEE ROAD, KOLKATA- 700001, WEST BENGAL, INDIA	B88154067
2	90253815	13/06/2001 *	500,000.00	VIJAYA BANK	1; 2; BREBOURNE ROAD, CULCUTTA- 700001, WEST BENGAL, INDIA	-
3	90253408	25/05/2004 *	15,675,000.00	CANARA BANK	2; BREBOURNE ROAD, CULCUTTA- 700001, WEST BENGAL,  INDIA	-
4	90253362	13/03/2015 *	35,000,000.00	VIJAYA BANK	BRABOURNE ROAD BRANCH, 1, R.N. MUKHERJEE ROAD, KOLKATA- 700001, WEST BENGAL, INDIA	C47409743

* Date of charge modification

AMALGAMATION WITH AMAR MILL STORES COMPANY PRIVATE LIMITED

The Hon’ble High Court of Calcutta has passed order on 01.07.2014 in the matter of C.P. No. 276 of 2014/2013 connected with C.A. No. 2014/2013 sanctioning the Scheme of Amalgamation of Amar Mill Stores Company private Limited. (Transferor Company) with the Company. As a result all the Assets and Liabilities of the erstwhile Transferor Company as going concern will stand transferred and vested with the Company as on 1st April, 2013 being the effective date.

As per the Scheme of Amalgamation, the Company has allotted 1 equity share of Rs. 100 each credited as fully paid up for every 40 equity share of Rs. 10/- each held by the members in Amar Mills Stores Company private Limited.

FIXED ASSETS:

Tangible Assets

· Goodwill

· Plant and Machinery

· Furniture and Fittings

· Vehicles

· Office Equipment

· Computer

· Electrical Generator

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. 66.37
UK Pound	1	Rs. 102.54
Euro	1	Rs. 75.32

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KIN
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		33

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.