MIRA INFORM REPORT

Report No. :	342139
Report Date :	22.09.2015

IDENTIFICATION DETAILS

Name :	RANGSONS ELECTTRONICS PRIVATE LIMITED
Registered Office :	347, D 1 and D 2, KIADB Electronic City, Hebbal Industrial Area, Mysore – 570016, Karnataka
Tel No.:	91- 821-4280000/4004500
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.06.1993
Com. Reg. No.:	08-014470
Capital Investment / Paid-up Capital :	Rs.13.670 Million
CIN No.: [Company Identification No.]	U31909KA1993PTC014470
IEC No.:	0793004039
TAN No.: [Tax Deduction & Collection Account No.]	BLRR02027E
PAN No.: [Permanent Account No.]	AAACR8750R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Electronic components.
No. of Employees :	1000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 1200000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was incorporated on 30^th June, 1993 and is based in Hyderabad, India. It operates as a subsidiary of Cyient Limited. It is engaged in manufacturing of electronic components. It has satisfactory track record. The company has shown a significant growth in its turnover and profit during FY2014. The company possesses a decent profile marked by decent networth base along with fair liquidity and profitability. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for normal 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	FITCH Rating
Rating	Long Term Issuer Rating = “IND A”
Rating Explanation	Have moderate degree of safety and carry low credit risk.
Date	20.07.2015

Rating Agency Name	FITCH Rating
Rating	Short Term = “IND A1”
Rating Explanation	Have very strong degree of safety and carry lowest credit risk
Date	20.07.2015

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 (GENERAL DETAILS)

Name :	Mr. Sunil
Designation :	Account
Contact No.:	91-80-41254701
Date :	02.09.2015

LOCATIONS

Registered Office / Factory :	347, D 1 and D 2, KIADB Electronic City, Hebbal Industrial Area, Mysore – 570016, Karnataka, India
Tel. No.:	91- 821-4280000/4004500
Mobile No.:	91-9880472880 (Mr. Sunil)
Fax No.:	91-821-4000369
E-Mail :	sarinachoutaharish@rangsons.com
Website :	www.rangsons.com
Location :	Owned
Locality :	Industrial
Business Office:	Parvathi Plaza, # 104/105, 1^st Floor, Richmod Circle, Bangalore – 560025, Karnataka, India
Tel No.:	91-80-41254701
Fax No.:	91-80-41254704

DIRECTORS

As on 31.03.2015

Name :

Mr. Phanisha Nagappa Kalale

Designation :

Director

Address :

3 Bhardwaja, Madhuvanalayout, 20 Block, Srirampura, II Stage, 8^th cross, Mysore - 570023, Karnataka, India

Date of Appointment :

29.09.2012

DIN No.:

00062536

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	U32106KA1989PTC010234	VASU COMTECH PRIVATE LIMITED	Director	09/03/1998	09/03/1998	-	Amalgamated	NO
2	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	29/09/2012	20/12/2002	-	Active	NO
3	U36912KA2011PTC058960	RANGSONS DEFENCE SOLUTIONS PRIVATE LIMITED	Director	30/09/2014	09/06/2014	13/05/2015	Active	NO

Name :

Mr. Arjun Murthy Ranga

Designation :

Director

Address :

2634, II Main Road, Sita Ranga, Vani Vilasa Mohalla, Mysore - 570002, Karnataka, India

Date of Appointment :

31.03.2001

DIN No.:

00235226

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	U74993KA1983PTC005435	PROSPERITY MARKETING SERVICES PRIVATE LIMITED	Director	11/05/1998	11/05/1998	-	Active	NO
2	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	31/03/2001	31/03/2001	-	Active	NO
3	U32106KA1989PTC010234	VASU COMTECH PRIVATE LIMITED	Managing director	31/08/2001	31/08/2001	-	Amalgamated	NO
4	U24244KA1982PTC004694	RIPPLE FRAGRANCES PRIVATE LIMITED	Director	27/01/2005	27/01/2005	-	Active	NO
5	U24249KA2004PTC033618	RIPPLE FRAGRANCES EXPORTS PRIVATE LIMITED	Director	29/09/2006	29/09/2006	-	Active	NO
6	U52312KA2008PTC046353	Arjati Trading Private Limited	Director	07/05/2008	07/05/2008	-	Active	NO
7	U15143KA1979PTC003541	NATURAL AND ESSENTIAL OILS PRIVATE LIMITED	Director	27/09/2010	16/11/2009	-	Active	NO
8	U36912KA2011PTC058960	RANGSONS DEFENCE SOLUTIONS PRIVATE LIMITED	Director	03/06/2011	03/06/2011	-	Active	NO
9	U29100KA2011PTC060197	RANGSONS SCHUSTER TECHNOLOGIES PRIVATE LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
10	U15141KA2010PTC052578	NESSO Green Tea Private Limited	Director	29/09/2012	05/03/2012	-	Active	NO
11	U36912KA2012PTC067267	SPIRITUAL PRODUCTS PRIVATE LIMITED	Director	14/12/2012	14/12/2012	-	Active	NO
12	U36900KA2013PTC068084	Techno Tools Precision Engineering Private Limited	Director	05/03/2013	05/03/2013	-	Active	NO
13	U31300KA2013PTC068733	Rangsons Interconnect Devices Private Limited	Director	23/04/2013	23/04/2013	-	Active	NO
14	U74900KA2014PTC077174	CityontheNet Marketplace Services Private Limited	Director	10/11/2014	10/11/2014	-	Active	NO
15	U74900KA2014PTC077891	N. Ranga Rao and Sons Private Limited	Director	23/12/2014	23/12/2014	-	Active	NO
16	AAB-8262	ASVAYUJA VENTURES LLP	Designated Partner	18/10/2013	18/10/2013	-	Active	NO
17	AAE-0967	RANGSONS TECHNOLOGIES LLP	Designated Partner	05/06/2015	05/06/2015	-	Active	NO

Name :

Mr. Jehangir Ardeshir

Designation :

Director

Address :

302/ B Paradise Apartment Lane E, Off North Main Road Koregaon Park, Pune - 411001, Maharashtra, India

Date of Appointment :

24.06.2015

DIN No.:

02344835

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	U51101TZ2007FTC020724	Terex India Private Limited	Managing director	26/12/2008	14/10/2008	31/07/2013	Active	NO
2	U74999TZ2003PTC020725	TEREX EQUIPMENT PRIVATE LIMITED	Director	25/09/2009	12/11/2008	31/07/2013	Active	NO
3	U29299TZ1997PTC020837	DEMAG CRANES AND COMPONENTS (INDIA) PRIVATE LIMITED	Additional director	30/11/2012	30/11/2012	31/07/2013	Active	NO
4	U28996PN1985PTC037806	FORBES MARSHALL PRIVATE LIMITED	Whole-time director	09/01/2014	05/09/2013	-	Active	NO
5	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	27/06/2015	24/06/2015	-	Active	NO

Name :

Mr. Ajay Aggarwal

Designation :

Director

Address :

C2-G1, Ground Floor-1, Daisy Towers, LT Serene County Gachibowli, Hyderabad - 500008, Telangana, India

Date of Appointment :

23.03.2015

DIN No.:

02565242

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	U51432DL2004PTC124408	KIRBY CONSTRUCTION COMPANY PRIVATE LIMITED	Director	16/03/2009	16/03/2009	-	Strike off	NO
2	U72200TG2006PTC049449	Infotech Geospatial (India) Private Limited	Director	28/09/2011	18/07/2011	-	Active	NO
3	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	27/06/2015	23/03/2015	-	Active	NO

Name :

Mr. Bodanapu Krishna Ganesh Venkat

Designation :

Director

Address :

P. No. 347, Road No. 22, Jubilee Hills, Hyderabad - 500033, Telangana, India

Date of Appointment :

04.02.2015

DIN No.:

05301037

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	U72200TG1995PTC019291	VINEYARD POINT SOFTWARE PRIVATE LIMITED	Director	27/09/2012	18/07/2012	-	Active	NO
2	L72200TG1991PLC013134	Cyient Limited	Managing director	17/07/2014	24/04/2014	-	Active	NO
3	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	04/02/2015	04/02/2015	-	Active	NO

Name :

Haritha Saranga

Designation :

Director

Address :

435 Faculty Quarters, IIMB Campus Bannerghatta Road, Bangalore - 560076, Karnataka, India

Date of Appointment :

24.06.2015

DIN No.:

07213507

KEY EXECUTIVES

Name :	Mr. Sunil
Designation :	Account
Name :	Mr. K Sarina Chouta Harish
Designation :	Secretary
Address :	No. 5, Devi Krupa Temple Road, Jayalakshmipuram, Mysore – 570012, Karnataka, India
Date of Birth/Age :	31.08.1969
Date of Appointment :	29.09.2012
PAN No.:	ABMPH0063K

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2014

Names of Shareholders	No. of Shares	%age holding
Pavan Guru Ranga	505790	37.00
Arjun Murthy Ranga	266565	19.50
Anirudh M Ranga	266565	19.50
Kiran V Ranga	136700	10.00
Vishnu Ranga	136700	10.00
Rangarao Sridhar	54680	4.00
Total	1367000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 25.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Electronic components.

Products :

Item Code No.	Product Description
90181300	Printed Circuits Boards Assemblies

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Cash and Cheque

Purchasing :

Cash and Cheque

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 :	Not Divulged
Remark:	Not Divulged

Customers :

Wholesaler, Retailers and End Users

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 :	Not Divulged
Remark:	Not Divulged

No. of Employees :

1000 (Approximately)

Bankers :

• HDFC Bank Limited, No.8/24, Salco Centre, Richmond Road, Bangalore - 560025, Karnataka, India
• State Bank of Mysore, Mysore Main Branch,Ashoka Road, Mysore - 570001,Karnataka, India
• Corporation Bank, Industrial Finance Branch, Rallaram Bldg, No.30, Mission Road, Bangalore - 560027, Karnataka, India

Bank Name	State Bank of Mysore
Branch	Sib Division, Bangalore Branch, Bangalore, Karnataka, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from banks	35.800	69.980
Short-term borrowings
Loans repayable on demand from banks	692.074	319.710
Total	727.874	389.690

Auditors :
Name :	B S Ravikumar and Associates Chartered Accountants
Address :	No.73, 2^nd, Floor, Shri Madhwesha Complex, Malai Mahadeshwara Road, Nazarbad, Mysore-570010, Karnataka, India
PAN N Income-tax PAN of auditor or auditor's firm :	AADFB1008N
Memberships :	--
Collaborators :	--
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Sri Ranga Trust V C T Labs Rangsons Defence Solutions Private Limited, India [U36912KA2011PTC058960] Ripple Fragrances Private Limited, India [U24244KA1982PTC004694] Rangsons Interconnect Devices Private Limited, India [U31300KA2013PTC068733] Rangsons Schuster Technologies Private Limited, India [U29100KA2011PTC060197] Techno Tools Precision Engineering Private Limited, India [U36900KA2013PTC068084]

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
4750000	Equity Shares	Rs.10/- each	Rs. 47.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1367000	Equity Shares	Rs.10/- each	Rs. 13.670 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	13.670	13.670	13.670
(b) Reserves & Surplus	412.140	239.429	206.333
(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)	425.810	253.099	220.003
(3) Non-Current Liabilities
(a) long-term borrowings	79.319	113.499	100.572
(b) Deferred tax liabilities (Net)	20.749	(0.674)	0.576
(c) Other long term liabilities	0.467	1.661	7.582
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	100.535	114.486	108.730
(4) Current Liabilities
(a) Short term borrowings	692.074	319.710	290.120
(b) Trade payables	648.956	207.236	261.473
(c) Other current liabilities	1062.590	63.074	63.332
(d) Short-term provisions	11.948	9.377	8.934
Total Current Liabilities (4)	2415.568	599.397	623.859
TOTAL	2941.913	966.982	952.592
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	229.947	190.563	185.577
(ii) Intangible Assets	10.058	12.127	12.862
(iii) Capital work-in-progress	8.427	0.000	0.000
(iv) Intangible assets under development	0.000	0.289	0.000
(b) Non-current Investments	27.425	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	22.956	9.781	9.635
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	298.813	212.760	208.074
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1084.331	345.914	382.313
(c) Trade receivables	647.361	286.667	245.774
(d) Cash and cash equivalents	783.352	41.946	51.021
(e) Short-term loans and advances	95.980	76.378	62.296
(f) Other current assets	32.076	3.317	3.114
Total Current Assets	2643.100	754.222	744.518
TOTAL	2941.913	966.982	952.592

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Net revenue	4063.380	1244.954	1146.420
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
Less	EXPENSES	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	241.298	83.090	70.661
Less/ Add	DEPRECIATION/ AMORTISATION	27.238	49.994	43.671
	PROFIT/ (LOSS) BEFORE TAX	214.060	33.096	26.990
Less	TAX	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	214.060	33.096	26.990
	Earnings / (Loss) Per Share (Rs.)	156.59	24.21	19.74

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	34.600	42.210	34.566
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	976.660	95.060	128.943

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	7.37	3.42	2.83
Return on Investment (ROI) (PBT/Networth)		0.50	0.13	0.12
Debt Equity Ratio (Total Debt /Networth)		1.81	1.71	1.78
Current Ratio (Current Asset/Current Liability)		1.09	1.26	1.19

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	13.67	13.67	13.67
Reserves & Surplus	206.333	239.429	412.14
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	220.003	253.099	425.810
long-term borrowings	100.572	113.499	79.319
Short term borrowings	290.12	319.71	692.074
Current maturities of long-term debts	24.566	42.210	34.600
Total borrowings	415.258	475.419	805.993
Debt/Equity ratio	1.888	1.878	1.893

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)
Net revenue	1146.420	1244.954	4063.380
		8.595	226.388

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Net revenue	1146.420	1244.954	4063.380
Profit	26.990	33.096	214.060
	2.35%	2.66%	5.27%

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	No
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)	No
16	No. of employees	Yes
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	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

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Deposits from shareholders	12.764	12.764
Loans and advances from directors	25.887	25.887
Loans and advances from others	4.868	4.868
Total	43.519	43.519

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10453376	16/09/2013	250,000,000.00	HDFC BANK LIMITED	NO.8/24, SALCO CENTRE, RICHMOND ROAD, BANGALORE, KARNATAKA - 560025, INDIA	B86804879
2	90200660	04/01/2005 *	76,000,000.00	STATE BANK OF MYSORE	ASHOKA ROAD, MAIN BRANCH, MYSORE, KARNATAKA - 570001, INDIA	-
3	90198041	14/03/2014 *	2,463,800,000.00	STATE BANK OF MYSORE	CORPORATE ACCOUNTS BRANCH, NO. 18, MIDFORD GARDENS ROAD, OFF M.G. ROAD,, BANGALORE, KARNATAKA - 560001, INDIA	C05605548
4	90196698	21/02/1994	2,896,000.00	STATE BANK OF MYSORE	MYSORE MAIN BRANCH, NO. 7; ASHOKA ROAD, MYSORE, KARNATAKA - 570001, INDIA	-
5	90196666	14/09/1993	1,550,000.00	STATE BANK OF MYSORE	MYSORE MAIN BRANCH, P.B. NO. 7; ASHOKA ROAD, MYSORE, KARNATAKA - 570001, INDIA	-

* Date of charge modification

FIXED ASSETS

Tangible assets

• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments
• Other equipments
• Leasehold improvements

Intangible assets

• Computer software

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.65.93
UK Pound	1	Rs.102.75
Euro	1	Rs.75.13

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	RAS
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.