MIRA INFORM REPORT

Report No. :	502013
Report Date :	04.04.2018

IDENTIFICATION DETAILS

Name :	HERO WIRETEX LIMITED (w.e.f. 26.12.2017)
Formerly known as:	HERO WIRETEX PRIVATE LIMITED (w.e.f. 12.08.2014) SVR CABLES PRIVATE LIMITED (w.e.f. 21.04.1998) SRI VASAVI RAJAM CABLES AND CONDUCTORS PRIVATE LIMITED (w.e.f. 08.12.1994) SRI VASAVI RAJAM FOOD PRODUCTS PRIVATE LIMITED
Registered Office :	S No. 116, Anthakapalli Village, Rajam Srikakulam Road, Srikakulam – 532127, Andhra Pradesh
Mobile No.:	91-9650008265 (Mr. Ashwin Agarwal)
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	11.02.1991
Com. Reg. No.:	01-012315
Capital Investment / Paid-up Capital :	INR 120.608 Million
CIN No.: [Company Identification No.]	U31300AP1991PLC012315
IEC No.: [Import-Export Code No.]	Not Applicable (As informed by the management that firm does not have export and import)
TIN No.:	37850102986
GSTN : [Goods & Service Tax Registration No.]	37AADCS1425R1ZY
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCS1425R
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Iron and steel, cable and Conductors. [[Registered activity] Trader of Iron and steel and engaged into construction activity. [Confirmed by management]
No. of Employees :	50 (Approximately)

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 :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1991 having satisfactory track. Management of the company has not filed its financials with the government department for the year 2017. As per available financials of 2016, the company has witnessed a healthy growth in its revenue and has reported profit margin at 0.65% (approx.) The company possesses sound financial profile marked by healthy net worth base along with low debt level and favorable gap between trade payables to its trade receivables. The company also derives strength from its long established track record of business operations. Trade relations are reported as fair. Business is active. Payment terms are seems to be usually correct and as per commitments. In view of the aforesaid, the company can be considered for 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

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

Rating Agency Name	CARE
Rating	Long term bank facilities: BB+
Rating Explanation	Moderate risk of defaults.
Date	02.11.2017

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 04.04.2018

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. Ashwin Agarwal
Designation :	Accounts Department
Contact No.:	91-9650008265
Date :	04.04.2018

LOCATIONS

Registered Office :	S No. 116, Anthakapalli Village, Rajam Srikakulam Road, Srikakulam – 532127, Andhra Pradesh, India
Tel. No.:	91-8941-252416/251318
Mobile No.:	91-9650008265 (Mr. Ashwin Agarwal)
Fax No.:	91-8941-251466
E-Mail :	herowiretexrajam@gmail.com firstsource13@gmail.com
Location :	Rented
Locality :	Commercial

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Raghunadha Gupta Seemakurti

Designation :

Director

Address :

D.No.8-165, Rajam Srikakulam, Rajam - 532127, Andhra Pradesh, India

Date of Birth/Age :

10.06.1959

Date of Appointment :

29.09.2014

DIN No.:

00162986

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27205AP1995PTC021743	MANASA INDUSTRIES PRIVATE LIMITED	29/09/2008	-
U65921TG1995PTC021649	KUSUMAHARA FINANCE AND INVESTMENTS PRIVATE LIMITED	20/06/1998	-
U27109AP1995PTC022137	SML DYETEX AND INDUSTRIES PRIVATE LIMITED	29/09/2008	-
U51909AP1995PTC022658	SRI SAI SATHVIK IMPEX PRIVATE LIMITED	30/09/2010	-
U17122AP2014PTC094849	SGS SPINTEX PARK PRIVATE LIMITED	18/07/2014	-

Name :

Mr. Raveendra Sangapu

Designation :

Director

Address :

04-067/A/7/107, Kachams Diamond Residency Praga Tools Colony, Jeedimetla, Quthbullapur -500067, Telangana, India

Date of Appointment :

16.11.2017

DIN No.:

07463363

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U45100KA2008PTC045965	BLUEWHEEL INFRASTRUCTURES PRIVATE LIMITED	16/08/2017	-
U51101TG2012PTC081834	ADARSH GLOBAL TRADES & SERVICES PRIVATE LIMITED	03/07/2017	-
U74900MH2014PTC257754	ARLEN TRADING PRIVATE LIMITED	10/03/2016	-

Name :

Mr. Grandhi Butchi Raju

Designation :

Additional Director

Address :

Gaana Residency, 3rd Block, 1st Floor, Pipeline Road, Kumaraswamy Layout Bangalore -560078, Karnataka, India

Date of Appointment :

17.01.2018

DIN No.:

01072564

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51900MH1999PTC120239	JAGRUK AGENCIES PRIVATE LIMITED	19/09/2004	-
U72200TG2000PLC033638	ESECURE B2B LIMITED	29/09/2008	-
U01122KA2001PLC029080	SRI VASAVI FLOREX AND INDUSTRIES LIMITED	21/06/2006	-
U74999TG1998PLC028762	EIFFEL POWER LIMITED	14/09/2010	-
U51909AP1995PTC022658	SRI SAI SATHVIK IMPEX PRIVATE LIMITED	29/09/2008	-
U27109AP1995PTC022137	SML DYETEX AND INDUSTRIES PRIVATE LIMITED	29/09/2008	-
U65921TG1995PTC021649	KUSUMAHARA FINANCE AND INVESTMENTS PRIVATE LIMITED	29/09/2008	-
U18100TG1994PLC017367	SPS TEXTILES AND INDUSTRIES LIMITED	10/12/2010	-

Name :

Seemakurti Siva Sankar

Designation :

Additional Director

Address :

Cheepurupalli Road, Rajam -532127, Andhra Pradesh, India

Date of Appointment :

18.12.2017

DIN No.:

03067823

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U01122KA2001PLC029080	SRI VASAVI FLOREX AND INDUSTRIES LIMITED	01/05/2010	-
U45100KA2008PTC045965	BLUEWHEEL INFRASTRUCTURES PRIVATE LIMITED	04/09/2016	-
U13100KA2008PTC047619	WIDEN METAL INDUSTRIES PRIVATE LIMITED	25/04/2015	-
U40104KA2008PTC047618	GOOGLE ENERGY PRIVATE LIMITED	25/04/2015	-
U40100KA2008PTC047725	KENTUCKY RENEWABLE ENERGY PRIVATE LIMITED	25/04/2015	-
U70200KA2009PTC050691	JEP PROPERTY DEVELOPERS PRIVATE LIMITED	31/08/2015	-
U40106AS2013PTC011397	NORTH EASTERN SOLAR POWER EQUIPMENTS PRIVATE LIMITED	31/08/2015	-
U17122AP2014PTC094849	SGS SPINTEX PARK PRIVATE LIMITED	01/02/2015	-
U45200TG2007PTC056262	PENTACLE INFRASTRUCTURES AND TOWERS PRIVATE LIMITED	20/02/2014	-
U34100KA2017PTC102785	AMPERIA CAR MANUFACTURING PRIVATE LIMITED	03/05/2017	-
U34300KA2017PTC102823	AMPERIA BUS MANUFACTURING PRIVATE LIMITED	04/05/2017	-
U34300KA2017PTC102826	AMPERIA MOTORS PRIVATE LIMITED	04/05/2017	-
U40300KA2017PTC102905	AMPERIA POWER ENGINEERING PRIVATE LIMITED	15/05/2017	-
U31904KA2017PTC102907	AMPERIA LITHIUM BATTERY MANUFACTURING PRIVATE LIMITED	15/05/2017	-
U34100KA2017PTC103126	AMPERIA AUTOMOTIVE MANUFACTURING PRIVATELIMITED	19/05/2017	-

Name :

Mr. Grandhi Susila

Designation :

Additional Director

Address :

5-98, GMR Nagar Saradhi, Srikakulam Road, Rajam -532127, Andhra Pradesh, India

Date of Appointment :

17.01.2018

DIN No.:

07673572

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U25209AP1995PTC020961	SRI VASAVI POLYMERS PRIVATE LIMITED	24/12/2016	-

KEY EXECUTIVES

Name :	Mr. Ashwin Agarwal
Designation :	Accounts Department

MAJOR SHAREHOLDERS

AS ON 31.03.2016

SHAREHOLDING DETAIL FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

AS ON 28.09.2016

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	42.86
Public/Other than promoters- Individual/Hindu Undivided Family- Indian	13.61
Public/Other than promoters - Body corporate	43.53
Total	100.00

BUSINESS DETAILS

Line of Business :

• Manufacturer of Iron and steel, cable and Conductors. [[Registered activity]

• Trader of Iron and steel and engaged into construction activity. [Confirmed by management]

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Cable	0124
Conductors	0124
Iron and Steel	99651254
Cotton Grey Fabrics	99861112
Stainless Steel Strip	99611925
Copper Cathodes	0
RBD Palm Oil	9961122

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Cheque

Purchasing :

Cheque

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

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

Customers :

Retailers, End Users

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

No. of Employees :

50 (Approximately)

Bankers :

Banker Name :	HDFC bank Limited
Branch :	Hyderabad, Telangana, India
Person Name (With Designation) :	--
Contact Number :	--
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2016	As on 31.03.2015
LONG TERM BORROWING
Deferred sales tax loan	7.090	7.644
Other loans and advances, others	0.000	34.484
SHORT TERM BORROWING
Rupee term loans from banks	3.892	0.000
Working capital loans from banks	101.473	0.000
Total	112.455	42.128

Auditors :
Name :	Ankit and Company Chartered Accountants
Address :	4-3-338, R.K. Estate, Bank Street, Sultan Bazar, Hyderabad – 500095, Telangana
Income-tax PAN of auditor or auditor's firm :	AAFFA7603Q
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AFTER 28.09.2016

Authorised Capital : INR 140.000 Million

Issued, Subscribed & Paid-up Capital : INR 137.275 Million

AS ON 28.09.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
1400000	Equity Shares	INR 100/- each	INR 140.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1206080	Equity Shares	INR 100/- each	INR 120.608 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	120.608	17.740	17.741
(b) Reserves & Surplus	207.510	7.006	4.889
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.368	0.000
Total Shareholders’ Funds (1) + (2)	328.118	25.114	22.630
(3) Non-Current Liabilities
(a) long-term borrowings	7.090	42.128	38.896
(b) Deferred tax liabilities (Net)	1.257	1.256	1.416
(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)	8.347	43.384	40.312
(4) Current Liabilities
(a) Short term borrowings	105.365	0.000	0.000
(b) Trade payables	130.106	31.640	57.625
(c) Other current liabilities	128.690	3.426	87.410
(d) Short-term provisions	4.176	1.119	0.176
Total Current Liabilities (4)	368.337	36.185	145.211
TOTAL	704.802	104.683	208.153
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	145.494	7.231	8.211
(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	0.014	30.004
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.487	5.415	141.889
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	145.981	12.660	180.104
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	87.460	52.521	4.257
(c) Trade receivables	361.604	33.408	18.736
(d) Cash and cash equivalents	83.235	5.766	4.435
(e) Short-term loans and advances	26.522	0.328	0.621
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	558.821	92.023	28.049
TOTAL	704.802	104.683	208.153

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Income	1442.000	328.571	86.787
	Other Income	6.393	0.564	18.575
	TOTAL	1448.393	329.135	105.362
Less	EXPENSES
	Cost of Materials Consumed	1459.302	339.436	81.563
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(52.377)	(29.559)	(0.259)
	Employees benefits expense	2.469	2.307	2.246
	Expenditure on production, transportation and Other expenditure pertaining to exploration and production activities	4.508	2.595	2.750
	Other expenses	4.374	4.988	7.982
	Prior Period expenses net	0.000	-0.020	0.086
	TOTAL	1418.276	319.747	94.368
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	30.117	9.388	10.994
Less	FINANCIAL EXPENSES	16.198	5.279	9.295
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	13.919	4.109	1.699
Less/ Add	DEPRECIATION/ AMORTISATION	0.415	0.993	0.985
	PROFIT/ (LOSS) BEFORE TAX	13.504	3.116	0.714
Less	TAX	4.177	0.999	0.237
	PROFIT/ (LOSS) AFTER TAX	9.327	2.117	0.477
	Earnings / (Loss) Per Share (INR)	6.66	4.23	2.69

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	NA	NA	11.078
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(125.556)	(161.718)	NA
Net cash flows from (used in) operating activities	(128.608)	(162.717)	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	91.53	37.11	78.80
Account Receivables Turnover (Income / Sundry Debtors)	3.99	9.84	4.63
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	32.54	34.02	257.88
Inventory Turnover (Operating Income / Inventories)	0.34	0.18	2.58
Asset Turnover (Operating Income / Net Fixed Assets)	0.21	1.30	1.34

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.53	0.75	0.94
Debt Equity Ratio (Total Liability / Networth)	0.34	1.68	2.21
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.12	1.44	6.42
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.44	0.29	0.36
Interest Coverage Ratio (PBIT / Financial Charges)	1.86	1.78	1.18

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin ((PAT / Sales) * 100)	%	0.65	0.64	0.55
Return on Total Assets ((PAT / Total Assets) * 100)	%	1.32	2.02	0.23
Return on Investment (ROI) ((PAT / Networth) * 100)	%	2.84	8.43	2.11

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	1.52	2.54	0.19
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.28	1.09	0.16
G-Score Ratio Financial (Networth / Total Assets)	0.47	0.24	0.11
G-Score Ratio Debt (Debts / Equity Capital)	0.93	2.37	2.82
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.52	2.54	0.19

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

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Share Capital	17.741	17.740	120.608
Reserves & Surplus	4.889	7.006	207.510
Share Application money pending allotment	0.000	0.368	0.000
Net worth	22.630	25.114	328.118
Long Term borrowings	38.896	42.128	7.090
Short Term borrowings	0.000	0.000	105.365
Total borrowings	38.896	42.128	112.455
Debt/Equity ratio	1.719	1.677	0.343

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	86.787	328.571	1442.000
		278.595	338.870

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	86.787	328.571	1442.000
Profit	0.477	2.117	9.327
	0.55%	0.64%	0.65%

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	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	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	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	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

PERFORMANCE DURING THE CURRENT YEAR & FUTURE PROSPECTS:

In a year of slower economic recovery, reflected in manufacture of all kinds of Cables, Conductors down trading, high competitive intensity, the Company sustained competitive growth with sharper in-market execution. The Company managed effectively through strategic tie ups with customers. The Company continued to leverage and benefit from the inputs received from Government policies, technology, innovation etc., given the challenging environment with the start of the fiscal impact during the second half of the year, the company embarked on ambitious cost savings programs which have started yielding results.

The Company has registered a total turnover of INR 1448.393 Million during the year against INR 329.135 Million in the year 2014-15 representing a growth of 340% increased with a net Profit (PAT) of INR 9.327 Million (previous year INR 2.117 Million)

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G06904338	100036704	HDFC BANK LIMITED	17/05/2016	-	-	100000000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
2	C77013860	10615852	SYNDICATE BANK	18/11/2015	-	-	230000000.0	MID CORPORATE BRANCH, PAVAN COMMERCIAL COMPLEX1ST FLOOR, DABAGARDENSVISAKHAPATNAMAP530020IN
3	C69479731	90123681	ANDHRA BANK	30/06/1993	19/09/1994	06/11/2015	6000000.0	RAJAMSRIKAKULAMAP532127IN
4	C69604502	90122301	ANDHRA BANK	30/06/1993	-	06/11/2015	6000000.0	RAJAMSRIKAKULAMAP532127IN
5	A77771251	90121294	INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED	24/03/1999	-	07/01/2010	59040000.0	CORE 4A; EAST COURT; 1ST FLOORINDIA HABITAT CENTRE; LODHI ROADNEW DELHIDL110003IN
6	A25078908	90122513	STATE BANK OF INDIA	04/04/1996	11/06/1998	11/01/2007	35100000.0	RAJAMSRIKAKULAMAP532127IN

FIXED ASSETS:

Tangible assets

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No 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 65.02
UK Pound	1	INR 91.46
Euro	1	INR 80.09

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	DIV
Report Prepared by :	KVT

SCORE FACTORS

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

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 operations 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.