MIRA INFORM REPORT

Report No. :	500887
Report Date :	02.04.2018

IDENTIFICATION DETAILS

Name :	MAHASHAKTI ENERGY LIMITED (w.e.f.03.11.2010)
Formerly Known as :	MAHASHAKTI ENERGY PRIVATE LIMITED (w.e.f.04.10.2010) MAHASHAKTI CONDUCTORS PRIVATE LIMITED
Registered Office :	A-8, Industrial Area, Focal Point, Dabiwali Road, Bathinda – 151001, Punjab
Tel. No.:	91-164-2280058/ 2281778
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	17.08.1994
Com. Reg. No.:	16-014935
Capital Investment / Paid-up Capital :	INR 44.044 Million
CIN No.: [Company Identification No.]	U28999PB1994PLC014935
IEC No.:	3099001040
GST No.:	03AABCM4598D1ZM
TIN No.:	03151094567
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCM4598D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Power Distribution Transformers and also Manufacturer and Exporter of Power Measuring Meter and has set up a Research and Development Unit. (Registered Activity and also Confirmed by Management)
No. of Employees :	Not Divulged

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Subject is an established company incorporated in the year 1994. It is engaged as a manufacturer and exporter of power and distribution transformers, energy meters, energy procurement & construction (EPC) on Turnkey basis. The company also manufactures power measuring meter and has set up a research and development unit. Management has failed to file its financial after 2015 with Registrar of Companies. As per available financial of 2015, the company has reported marginal decrease in its revenue as compared to its previous year but has maintained fair profit margin of nearly 2.72% during the year. The rating takes into consideration, the strong financial risk profile of the company marked by adequate net worth base and comfortable gearing level. Moreover, the healthy cash level from its operations and favorable gap between trade receivable and payables further strengthens the liquidity profile. The rating takes into consideration strong and established track of business operations along with experienced management and healthy financial conditions. However, these rating strengths gets partially offset by vulnerability of its operating margins to volatility in raw material prices and its working capital intensive operations. Trade relations are fair. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings with 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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

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 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 02.04.2018.

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION PARTED BY [GENERAL DETAILS]

Name :	Mr. Karan Kansal
Designation :	Director
Contact No.:	91-9878507000
Date :	29.03.2018

LOCATIONS

Registered Office:	A-8, Industrial Area, Focal Point, Dabiwali Road, Bathinda – 151001, Punjab, India
Tel. No.:	91-164-2280058 / 2281778
Mobile No.:	91-9878507000/ 9814031181 (Mr. Karan Kansal)
Fax No.:	91-164-2282506
E-Mail :	info@mahashaktienergy.com ankushgargca@gmail.com mcplbti@gmail.com karan@mahashaktienergy.com ca_cpr@yahoo.com
Website :	www.mahashaktienergy.com
Location :	Owned
Factory:	A-8, A-9A to A-15A, A-9D to A-15D, New Focal Point, Dabwali Road, Bathinda, Punjab, India
Tel. No.:	91-164-2280058/ 2281778
Fax. No.:	91-164-2282506
Location :	Owned

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Ashok Kumar Kansal

Designation :

Managing Director

Address :

676, Urban Estate, Phase 1, Bathinda – 151001, Punjab, India

Date of Birth:

13.10.1957

Qualification:

Law Graduate

Experience:

35 Years

Date of Appointment :

17.08.1994

PAN No.:

AFDPK8311G

DIN No.:

00610691

Name :

Mr. Karan Kansal

Designation :

Director

Address :

676, Urban Estate, Phase 1, Bathinda – 151001, Punjab, India

Date of Birth:

03.11.1982

Qualification:

B. Tech, MBA

Experience:

13 Years

Date of Appointment :

15.05.2006

PAN No.:

AHXPK1918R

DIN No.:

00866319

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74999MH2015PTC263657	UDANTA ENTERPRISES PRIVATE LIMITED	30/06/2015	-

Name :

Mr. Vijay Kumar Kansal

Designation :

Director

Address :

Ward 8/19 Raman Mandi, Bathinda 151301, Punjab, India

Date of Birth:

20.11.1959

Qualification:

Graduate

Experience:

33 Years

Date of Appointment :

22.12.2003

PAN No.:

AJEPK5366J

DIN No.:

00610733

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2016

Names of Shareholders	No. of Shares
Ashok Kumar Kansal	213180
Krishna Devi	400
Sunita Singla	4650
Ajay Kansal	8600
Vipin Kumar	2250
Priti Kansal	3450
Vijay Kansal	27240
Piyush Kansal	1750
Kanta Rani	1100
Rajni Kansal	1700
Des Raj	9900
Shyna	4310
Karan Kansal	93175
D.K Singla	11080
Om Parkash Singla	800
Des Raj Kansal and Sons, India	980
Shilpa Kansal	17670
Mooncity Vinimay Private Limited, India	38200
Total	440435

AS ON 20.06.2016

Equity Share Breakup	Percentage of Holding
Category
Promoters (Individual/Hindu Undivided Family – Indian)	91.33
Promoters (Body corporate)	8.67
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Power Distribution Transformers and also Manufacturer and Exporter of Power Measuring Meter and has set up a Research and Development Unit. (Registered Activity and also Confirmed by Management)

Products :

ITC Code No.	Product Descriptions
85042340	Transformers having a PWR handling Capacity

Brand Names :

“MAHASHAKTI”

Agencies Held :

· Punjab State Power Corporation Limited

· Uttar Haryana Bijli Vitran Nigam Limited

· KEI Industries Limited

· Godrej and Boyce Manufacturing Co. Limited

· Dakshin Haryana Bijli Vitran Nigam Limited

· Abay Transformers PLC

· Kenya Power and Lighting Co. Limited

· Nagarjuna Construction Company Limited

Exports :

Products :

Transformers

Countries :

· Ethiopia

· Kenya

· Nigeria

· Dubai

Imports :

Products :

Raw Materials

Countries :

· USA

· Germany

· Japan

· China

· Korea

Terms :

Selling :

L/C and Cheque

Purchasing :

L/C and Cheque

GENERAL INFORMATION

Suppliers :

Reference:

Apar Industries Limited

Name of the Person (Designation):

Mr. S. K. Jain (General Manager)

Contact Number:

91-9999000353

Since how long known:

20 Years

Maximum limit dealt:

Not Divulged

Experience:

Payment Behaviour	Good
Market Goodwill	Good
Overall	Good

Remark

Payment behavior is good same time it delayed because of marketing condition but overall company is good.

Customers :

SEB’s, EPC Contract

· Kenya Power and Lighting Company Limited

· Abay Tranformer PLC

· Punjab State Power Corporation Limited

· Dakshin Haryana Bijli Vitran Nigam

· Uttar Haryana Bijli Vitran Nigam

· Nagarjuna Construction Company Limited

· Godrej and Boyce Manufacturing Company Limited

· KEI Industries Limited

Reference:

Sri Gopi Krishna Infrastructure Private Limited

Name of the Person (Designation):

Mr. S. Vamsikrishna (AGM Purchase)

Contact Number:

91-40-44654444

Since how long known:

4 to 5 Years

Maximum limit dealt:

As per requirement

Experience:

Product Quality	Good
Delivery Behaviour	Good
Overall	Good

Remark

Product quality of subject company is good, delivery behavior is also good, providing good services.

No. of Employees :

Not Divulged

Bankers :

· State Bank of India

Kikar Bazar, Bathinda, Bathinda – 151001, Punjab, India

· Punjab National Bank

Facilities :

SECURED LOANS	31.03.2015 (INR In Million)	31.03.2014 (INR In Million)
LONG-TERM BORROWINGS
Term loan	9.916	26.216
Loans taken for vehicles	3.458	0.423
SHORT TERM BORROWINGS
Working capital loans from banks	620.331	636.328
Total	633.705	662.967

Auditors :
Name :	Chander Raheja and Company Chartered Accountants
Address :	3065, Power House Road, Street No. 4, Bathinda, Punjab, India
Tel. No.:	91-164-2212712
Fax No.:	91-164-2212712
E-Mail :	ca_cpr@yahoo.com
Income-tax PAN of auditor or auditor's firm :	AAGFC9575N
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	ABC Global Private Limited
Related Parties :	· H. R. Power Projects Private Limited · Ajay Kansal and Sons · Des Raj Kansal and Sons · Vijay Kansal and Sons · Vipin Kansal and Sons · Ashok Kansal and Sons · Remuneration

CAPITAL STRUCTURE

AFTER 20.06.2016

Authorised Capital : INR 50.000 Million

Issued, Subscribed & Paid-up Capital : INR 45.291 Million

AS ON 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	INR 100/- each	INR 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
440435	Equity Shares	INR 100/- each	INR 44.044 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	44.044	43.054	43.054
(b) Reserves & Surplus	353.910	315.053	286.436
(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)	397.954	358.107	329.490
(3) Non-Current Liabilities
(a) Long-term borrowings	38.208	78.191	109.803
(b) Deferred tax liabilities (Net)	0.195	1.681	1.918
(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)	38.403	79.872	111.721
(4) Current Liabilities
(a) Short term borrowings	620.331	636.328	474.723
(b) Trade payables	475.768	474.478	672.434
(c) Other current liabilities	15.267	10.928	15.663
(d) Short-term provisions	7.900	15.260	29.200
Total Current Liabilities (4)	1119.266	1136.994	1192.020
TOTAL	1555.623	1574.973	1633.231
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	130.241	147.964	163.207
(ii) Intangible Assets	0.106	0.298	0.363
(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	28.156	26.370	23.890
(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	0.000	0.000	0.000
Total Non-Current Assets	158.503	174.632	187.460
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	753.166	676.724	508.884
(c) Trade receivables	499.920	580.897	761.487
(d) Cash and cash equivalents	122.649	99.257	121.733
(e) Short-term loans and advances	21.385	43.463	53.667
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1397.120	1400.341	1445.771
TOTAL	1555.623	1574.973	1633.231

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Revenue from Operations	1150.083	1449.499	2233.432
		Other Income	23.038	17.670	39.042
		TOTAL (A)	1173.121	1467.169	2272.474
Less	EXPENSES
		Cost of Materials Consumed	881.503	1104.949	1798.933
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(91.904)	(105.048)	(72.045)
		Employees benefits expense	75.919	114.952	158.718
		Prior period items	0.000	(0.055)	0.000
		Other expenses	108.007	125.126	142.082
		TOTAL (B)	973.525	1239.924	2027.688
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		199.596	227.245	244.786
Less	FINANCIAL EXPENSES (D)		140.145	165.076	135.386
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		59.451	62.169	109.400
Less/ Add	DEPRECIATION/ AMORTISATION (F)		21.503	18.529	19.979
	PROFIT BEFORE TAX (E-F) (G)		37.948	43.640	89.421
Less	TAX (H)		6.615	15.023	29.179
	PROFIT AFTER TAX (G-H) (I)		31.333	28.617	60.242
	EARNINGS IN FOREIGN CURRENCY
		Direct exports	201.734	263.749
		Indirect expenses	33.877	24.263
	TOTAL EARNINGS		235.611	288.012	250.223
	CIF Value of Import		27.027	106.252	346.202
	Earnings Per Share (INR)
	Basic		71.14	66.47	149.97
	Diluted		71.85	66.47	140.97

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	NA
Net cash flows from (used in) operations	60.233	15.180	91.339
Net Cash Flow from (used in) Operating Activities	200.379	168.502	226.725

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2015	31.03.2014	31.03.2013
Average Collection Days (Sundry Debtors / Income * 365 Days)	158.66	146.28	124.45
Account Receivables Turnover (Income / Sundry Debtors)	2.30	2.50	2.93
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	197.00	156.74	136.44
Inventory Turnover (Operating Income / Inventories)	0.27	0.34	0.48
Asset Turnover (Operating Income / Net Fixed Assets)	1.53	1.53	1.50

LEVERAGE RATIOS

PARTICULARS	31.03.2015	31.03.2014	31.03.2013
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.74	0.77	0.80
Debt Equity Ratio (Total Liability / Networth)	1.65	2.00	1.77
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.81	3.18	3.62
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.33	0.41	0.50
Interest Coverage Ratio (PBIT / Financial Charges)	1.42	1.38	1.81

PROFITABILITY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin ((PAT / Sales) * 100)	%	2.72	1.97	2.70
Return on Total Assets ((PAT / Total Assets) * 100)	%	2.01	1.82	3.69
Return on Investment (ROI) ((PAT / Networth) * 100)	%	7.87	7.99	18.28

SOLVENCY RATIOS

PARTICULARS	31.03.2015	31.03.2014	31.03.2013
Current Ratio (Current Assets / Current Liabilities)	1.25	1.23	1.21
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.58	0.64	0.79
G-Score Ratio Financial (Networth / Total Assets)	0.26	0.23	0.20
G-Score Ratio Debt (Debts / Equity Capital)	14.95	16.60	13.58
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.25	1.23	1.21

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	INR In Million	INR In Million	INR In Million
Share Capital	43.054	43.054	44.044
Reserves & Surplus	286.436	315.053	353.910
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	329.490	358.107	397.954
long-term borrowings	109.803	78.191	38.208
Short term borrowings	474.723	636.328	620.331
Total borrowings	584.526	714.519	658.539
Debt/Equity ratio	1.774	1.995	1.655

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	INR In Million	INR In Million	INR In Million
Sales	2233.432	1449.499	1150.083
		(35.100)	(20.657)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	INR In Million	INR In Million	INR In Million
Sales	2233.432	1449.499	1150.083
Profit	60.242	28.617	31.333
	2.70%	1.97%	2.72%

LOCAL AGENCY FURTHER INFORMATION

Top of Form

CIVIL COURT JAMNAGAR

CASE DETAILS

Case Type : RCS

Filing Number: 23/2018 Filing Date: 10-01-2018

Registration Number: 23/2018 Registration Date: 10-01-2018

CNR Number: GJJM02-000329-2018

CASE STATUS

First Hearing Date : 10th January 2018

Next Hearing Date: 13th June 2018

Stage of Case: SUMMONS - NOTICE

Court Number and Judge: 1-PRINCIPAL SENIOR CIVIL JUDGE

PETITIONER AND ADVOCATE

1) Efficiant Fastoner Manufactures Pro Dilipbhai P Mehta

Advocate- N.P. GHADIA

RESPONDENT AND ADVOCATE

1) M/s Mahashakti Energy Limited

2) M/s Mahashakti Energy Limited Director Karan Kansal

ACTS

Under Act(s)	Under Section(s)
CODE OF CIVIL PROCEDURE, 1908	009

HISTORY OF CASE HEARING

Registration Number	Judge	Business On Date	Hearing Date	Purpose of hearing
23/2018	PRINCIPAL SENIOR CIVIL JUDGE	10-01-2018	15-02-2018	SUMMONS - NOTICE
23/2018	PRINCIPAL SENIOR CIVIL JUDGE	15-02-2018	16-03-2018	SUMMONS - NOTICE
23/2018	PRINCIPAL SENIOR CIVIL JUDGE	16-03-2018	13-06-2018	SUMMONS - NOTICE

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	Yes
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	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	Yes
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G39564281	100086489	CANARA BANK	21/03/2017	-	-	107000000.0	74 CIVIL LINESBATHINDAPB151001IN
2	G45609468	100102115	PUNJAB NATIONAL BANK	30/12/2016	-	-	22500000.0	KIKAR BAZARBATHINDAPB151001IN
3	B86703899	10138775	STATE BANK OF INDIA	07/12/2008	30/09/2013	-	1481600000.0	KIKAR BAZARBATHINDABATHINDAPB151001IN
4	G01439157	10331797	STATE BANK OF INDIA	28/12/2011	-	18/04/2016	60200000.0	KIKAR BAZARBATHINDAPB151001IN
5	G01440080	10333969	STATE BANK OF INDIA	27/01/2012	-	18/04/2016	80000000.0	KIKAR BAZARBATHINDAPB151001IN
6	G00996769	10487795	PUNJAB NATIONAL BANK	21/02/2014	-	18/03/2016	10000000.0	PUNJAB NATIONAL BANKBATHINDAPB151001IN
7	B30560163	10297906	STATE BANK OF INDIA	09/06/2011	-	23/01/2012	80000000.0	BHAGU ROADBATHINDAPB151001IN
8	A62070305	10034559	CANARA BANK	06/01/2007	27/11/2007	15/05/2009	6850000.0	CIVIL LINESBATHINDAPB151001IN
9	A62070883	10078758	CANARA BANK	27/11/2007	17/11/2008	15/05/2009	20000000.0	CIVIL LINESBATHINDAPB151001IN
10	A62073366	90172860	CANARA BANK	30/11/2004	02/06/2005	15/05/2009	24000000.0	CIVIL LINESBATHINDAPBIN

UNSECURED LOANS

PARTICULARS	31.03.2015 (INR In Million)	31.03.2014 (INR In Million)
LONG-TERM BORROWINGS
Other loans and advances, others	2.812	2.770
Deferred creditors (Advance)	22.022	48.782
Total	24.834	51.552

PERFORMANCE

The turnover of the company has been decreased from INR 1467.169 million to INR 1173.121 million due to non-lifting of material by the Electricity Board. The export turnover has also been affected badly due to fluctuation in the currency rates in the International market. The Company has earned net profit of INR 31.333 million after making provision of INR 21.503 million as depreciation as compare to 286.17 Lacs during the previous year. The Company has good volumes of Supply orders in hand, which will increase the sales during the coming period. The services and marketing of the company are being appreciated by the customers and the Company is receiving very good response. The directors are hopeful to earn good profits in the coming period. The Company has introduced a new item Auto Dipper, which is the present need of the India, however launching of the same in market has been delayed due to Government Policies, which are likely to be finalized very soon. Directors are hopeful to capture a major part of Indian market.

FIXED ASSETS:

· Land

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Factory equipment’s

· Computer equipment’s

· Office equipment

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 records 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	INR
US Dollar	1	INR 65.04
UK Pound	1	INR 92.28
Euro	1	INR 80.62

INFORMATION DETAILS

Information Gathered by :	SWT
Analysis Done by :	NIS
Report Prepared by :	ARC

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and opera tions size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.