MIRA INFORM REPORT

Report No. :	502973
Report Date :	13.04.2018

IDENTIFICATION DETAILS

Name :	EURO SAFETY FOOTWEAR (INDIA) PRIVATE LIMITED
Registered Office :	B-49/4,49/5,54/2,54/3, E.P.I.P, Shastripuram, Agra – 282007, Uttar Pradesh
Mobile No.:	91-9837091457 (Ms. Dalbir Kaur)
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	23.12.2004
Com. Reg. No.:	20-029359
Capital Investment / Paid-up Capital :	INR 49.800 Million
CIN No.: [Company Identification No.]	U19201UP2004PTC029359
IEC No.: [Import-Export Code No.]	0605008736
TIN No.:	09302105196
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCE4157E
GSTN : [Goods & Service Tax Registration No.]	09AABCE4157E1ZT
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and exporter of footwears. (Registered Activity and also Confirmed by management)
No. of Employees :	200 (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

Maximum Credit Limit :	USD 484000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2004. It is manufacturer and exporter of footwear. For the financial year 2017, the company has achieved revenue growth of 25.02% as compared to the previous year along with an average profit margin of 3.47%. The satisfactory financial profile of the company is marked by sufficient networth base along with average debt balance sheet profile. This rating strength is partially offset by the company’s modest scale of operations of the company is an intensely competitive footwear industry and unfavourable gap between trade’s payables to its receivables. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. Note: The correct name of the company is “Euro Safety Footwear (India) Private Limited”

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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2018.

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 13.04.2018

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

Name :	Ms. Dalbir Kaur
Designation :	Whole-time Director
Contact No.:	91-9837091457
Date :	11.04.2018

(Tel. No.:91-562-6451292 – Not working)

LOCATIONS

Registered Office / Works:	B-49/4,49/5,54/2,54/3, E.P.I.P, Shastripuram, Agra – 282007, Uttar Pradesh, India
Tel. No.:	Not Available
Mobile No.:	91-9837091457 (Ms. Dalbir Kaur)
Fax No.:	91-562-2640518
E-Mail :	cs@rogerexports.com office@eurosafetyfootwear.com
Location :	Owned
Locality :	Commercial

DIRECTORS

As on 31.03.2017

Name :

Mr. Deepak Budhiraja

Designation :

Managing Director

Address :

24 Lajpat Kunj Near, RBS Inter College, Agra - 282002, Uttar Pradesh, India

Date of Birth/Age :

04.10.1970

Date of Appointment :

01.01.2015

DIN No.:

01662091

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U19201UP1992PTC014823	ROGER INTERNATIONAL PRIVATE LIMITED	19/10/1992	-
U72300UP2011PTC046143	GFN-DSELVA INFOTECH PRIVATE LIMITED	11/08/2011	-
U19115UP2014PTC064844	BHOLA FOOTWEAR EXPORT PRIVATE LIMITED	10/07/2014	-
U15133UP1982PTC005576	ROGER CONSTRUCTIONS PRIVATE LIMITED	03/04/1994	-
U19129UP2007PLC034134	ROGER INDUSTRIES LIMITED	12/10/2015	-
U74999MH2016PTC282712	ROGER INDUSTRIAL OILS PRIVATE LIMITED	22/06/2016	-

Name :

Ms. Dalbir Kaur

Designation :

Whole-time Director

Address :

Flat No. 303 Kaveri Green Grand Kailash Vihar, Near Deo Nagar, Agra – 282005, Uttar Pradesh, India

Date of Birth/Age :

07.04.1950

Date of Appointment :

01.01.2015

DIN No.:

01661927

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U19201UP1992PTC014823	ROGER INTERNATIONAL PRIVATE LIMITED	19/10/1992	-
U15133UP1982PTC005576	ROGER CONSTRUCTIONS PRIVATE LIMITED	01/03/1982	-
U19129UP2007PLC034134	ROGER INDUSTRIES LIMITED	06/11/2007	-

Name :

Ms. Stella Budhiraja

Designation :

Director

Address :

24, Lajpat Kunj, Near RBS College Agra - 282005, Uttar Pradesh, India

Date of Birth/Age :

23.08.1974

Date of Appointment :

01.01.2005

DIN No.:

01090464

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U19201UP1992PTC014823	ROGER INTERNATIONAL PRIVATE LIMITED	03/06/1996	-
U15133UP1982PTC005576	ROGER CONSTRUCTIONS PRIVATE LIMITED	03/04/1996	-
U19129UP2007PLC034134	ROGER INDUSTRIES LIMITED	01/01/2015	-

Name :

Mr. Kulbir Singh

Designation :

Director

Address :

Flat No. 303 Kaveri Green Grand Kailash Vihar, Near Deo Nagar, Agra - 282005, Uttar Pradesh, India

Date of Birth/Age :

10.04.1947

Date of Appointment :

23.12.2004

DIN No.:

01661998

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U19201UP1992PTC014823	ROGER INTERNATIONAL PRIVATE LIMITED	19/10/1992	-
U72300UP2011PTC046143	GFN-DSELVA INFOTECH PRIVATE LIMITED	11/08/2011	-
U19115UP2014PTC064844	BHOLA FOOTWEAR EXPORT PRIVATE LIMITED	10/07/2014	-
U15133UP1982PTC005576	ROGER CONSTRUCTIONS PRIVATE LIMITED	01/03/1982	-
U19129UP2007PLC034134	ROGER INDUSTRIES LIMITED	12/10/2015	-
U74999MH2016PTC282712	ROGER INDUSTRIAL OILS PRIVATE LIMITED	22/06/2016	-

Name :

Mr. Varun Budhiraja

Designation :

Director

Address :

24 Lajpat Kunj, Near RBS Colege, Agra – 282002, Uttar Pradesh, India

Date of Appointment :

05.11.2015

DIN No.:

07334248

KEY EXECUTIVES

Name :	Mr. Anup Agarwal
Designation :	Account Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares	%age
Kulbir Singh	3598000	72.25
Dalbir Kaur	522000	10.48
Deepak Budhiraja	540000	10.84
Stella Budhiraja	320000	6.43
Total	4980000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2017

Category	Percentage
Promoters (Individual/Hindu Undivided Family-Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and exporter of footwears. (Registered Activity and also Confirmed by management)

Products/ Services :

Item Code No.	Product/ Services Description
99611341	Footwears

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

• European Countries
• Gulf Countries
• Middle East Countries

Imports :

Products :

Raw Materials

Countries :

• China
• Germany

Terms :

Selling :

Advance Payment, Cheque and Credit (30/ 60 Days), Others (RTGS/ NEFT)

Purchasing :

Advance Payment, Cheque and Credit (30/ 60 Days), Others (RTGS/ NEFT)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	AAR Kay Footwear
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

• Advance Sales Corporation
• Ahuja International
• Amman Tanners
• AMS Shoe Components Private Limited
• Ankur Enterprises
• Arisha Tanners
• Arshi Enterprises
• Bajaj Sales
• Balaji Foams
• Bansal Printers
• Bhartiya Trading Co
• Cord India Company
• Coomo International

Customers :

Wholesalers

Reference :	ABB Limited
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

• AKS Enterprises
• Arvind Sports Lifestyle Limited
• Bata India Limited
• Assure Associates
• H-One India Private Limited
• J P Safety House
• Lotto Development
• Pavers England Limited
• MMTC-Pamp India Private Limited
• Sai Trading Company
• Royal Steps International

No. of Employees :

200 (Approximately)

Bankers :

Bank Name	Punjab National Bank
Branch	F - 36IBB, Sanjay Place, Agra – 282002, Uttar Pradesh, India
Person Name (With Designation)	Mr. Sanjay
Contact Number	91-562-2151553
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	Current Account
Account Operation	--
Remarks (If any)	Denied to provide information

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Term loan From banks
PNB Term loan IB 317	0.000	1.516
PNB loan for foreign currency UL 43	13.245	20.837
PNB Term loan A/C 487	0.000	16.517
PNB Term loan car NG 618	0.515	0.708
PNB Term Loan IB 520 (Machinery)	1.813	0.000
PNB Term loan IB 593	2.124	0.000
PNB loan for foreign (Gurgaon) UL 43	10.943	0.000
PNB term loan car NG 742	1.924	2.461
Short-term borrowings
Loan repayable on demand From Banks
FOBC	70.555	43.637
Packing credit loan	179.437	126.689
PNB Foreign Currency UL 34	19.308	20.691
PNB OD 933319	6.747	0.000
PNB OD 933461	7.752	0.000
PNB OD 933470	4.831	0.000
PNB OD 933489	3.038	0.000
PNB OD 933498	6.945	0.000
PNB OD 933319	0.000	11.074
Punjab National Bank CC 719	3.803	2.690
Punjab National Bank CA 447	2.601	6.767
Total	335.581	253.587

Auditors :
Name :	A.J. Associates Chartered Accountants
Address :	Shop No.9, Block No.7, Shoe Market, Sanjay Place, Agra-202002, Uttar Pradesh, India
Tel. No.:	91-562-4061719
Mobile No.:	91-9997755550/9837162564
Fax No.:	91-562-4061719
E-Mail :	ajassociates.ca@gmail.com info@ajassociates-india.com
Website :	www.ajassociates-india.com
Income-tax PAN of auditor or auditor's firm :	AAGFA5582P
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 29.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	INR 10/- each	INR 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4980000	Equity Shares	INR 10/- each	INR 49.800 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	49.800	49.800	49.800
(b) Reserves & Surplus	119.619	89.017	68.198
(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)	169.419	138.817	117.998
(3) Non-Current Liabilities
(a) Long-term borrowings	30.564	42.039	38.578
(b) Deferred tax liabilities (Net)	2.544	3.041	4.039
(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)	33.108	45.080	42.617
(4) Current Liabilities
(a) Short term borrowings	463.469	318.733	231.870
(b) Trade payables	51.846	39.647	35.300
(c) Other current liabilities	6.789	4.659	4.850
(d) Short-term provisions	2.171	1.313	1.096
Total Current Liabilities (4)	524.275	364.352	273.116
TOTAL	726.802	548.249	433.731
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	209.325	208.360	160.460
(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	31.403	30.864	0.000
(c) Deferred tax assets (net)	0.000	0.000	18.611
(d) Long-term Loan and Advances	2.850	2.850	2.630
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	243.578	242.074	181.701
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	179.090	132.522	137.925
(c) Trade receivables	106.896	114.063	42.092
(d) Cash and cash equivalents	96.917	44.832	51.511
(e) Short-term loans and advances	22.026	13.459	11.934
(f) Other current assets	78.295	1.299	8.568
Total Current Assets	483.224	306.175	252.030
TOTAL	726.802	548.249	433.731

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	881.458	705.068	772.674
	Other Income	15.490	5.165	11.633
	TOTAL	896.948	710.233	784.307
		(Due to business growth)
Less	EXPENSES
	Cost of Materials Consumed	600.842	406.163	512.061
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(66.921)	12.210	(17.747)
	Employees benefits expense	152.052	112.079	108.333
	Other expenses	126.520	103.814	97.478
	TOTAL	812.493	634.266	700.125
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	84.455	75.967	84.182
Less	FINANCIAL EXPENSES	13.559	16.346	25.333
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	70.896	59.621	58.849
Less/ Add	DEPRECIATION/ AMORTISATION	24.823	28.022	23.391
	PROFIT/ (LOSS) BEFORE TAX	46.073	31.599	35.458
Less	TAX	15.471	10.563	11.517
	PROFIT/ (LOSS) AFTER TAX	30.602	21.036	23.941
	Earnings / (Loss) Per Share (INR)	6.09	4.02	4.57

Particulars	31.03.2018
Sales Turnover (Approximately)	900.000
	(Due to business growth)

The above information has been parted by Ms. Dalbir Kaur (Whole-time Director)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	0.000	0.000	0.000
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	NA	NA	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	44.26	59.05	19.88
Account Receivables Turnover ( Income / Sundry Debtors)	8.25	6.18	18.36
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	31.50	35.63	25.16
Inventory Turnover (Operating Income / Inventories)	0.47	0.57	0.61
Asset Turnover (Operating Income / Net Fixed Assets)	0.40	0.36	0.52

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.76	0.74	0.72
Debt Equity Ratio (Total Liability / Networth)	2.92	2.60	2.29
Current Liabilities to Networth (Current Liabilities / Net Worth)	3.09	2.62	2.31
Fixed Assets to Networth (Net Fixed Assets / Networth)	1.24	1.50	1.36
Interest Coverage Ratio (PBIT / Financial Charges)	6.23	4.65	3.32

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin [(PAT / Sales) * 100]	%	3.47	2.98	3.10
Return on Total Assets ((PAT / Total Assets) * 100)	%	4.21	3.84	5.52
Return on Investment (ROI) ((PAT / Networth) * 100)	%	18.06	15.15	20.29

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	0.92	0.84	0.92
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.58	0.48	0.42
G-Score Ratio Financial (Networth / Total Assets)	0.23	0.25	0.27
G-Score Ratio Debt (Debts / Equity Capital)	9.92	7.24	5.43
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.92	0.84	0.92

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	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	49.800	49.800	49.800
Reserves & Surplus	68.198	89.017	119.619
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	117.998	138.817	169.419
long-term borrowings	38.578	42.039	30.564
Short term borrowings	231.870	318.733	463.469
Total borrowings	270.448	360.772	494.033
Debt/Equity ratio	2.292	2.599	2.916

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	772.674	705.068	881.458
		(8.750)	25.017

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	772.674	705.068	881.458
Profit/(Loss)	23.941	21.036	30.602
	3.10%	2.98%	3.47%

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
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	Yes
26	Turnover of firm for last four years	Yes
27	Reasons for variation <> 20%	Yes
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

UNSECURED LOAN

PARTICULARS	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Short-term borrowings
Loans and advances from related parties
Deepak Budhiraja	1.498	0.891
Kulbir Singh	84.994	74.994
Dalbir Kaur	70.938	30.384
Stella Budhiraja	0.916	0.916
Varun Budhhiraja	0.106	0.000
Total	158.452	107.185

INDEX OF CHARGES

Charges Registered
SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Amount	Address
1	G72735772	100144519	F - 36	18/12/2017	-	1310000.0	SANJAY PLACEAGRAUP282005IN
2	G74218405	100134325	Punjab National Bank	20/09/2017	22/12/2017	75000000.0	IBBSANJAY PLACEAGRAUP282002IN
3	G48756555	100110816	PUNJAB NATIONAL BANK	22/06/2017	-	80000000.0	F-36IBB SANJAY PLACEAGRAUP282007IN
4	G48665418	100110514	PUNJAB NATIONAL BANK	22/06/2017	-	35000000.0	IBB F-36SANJAY PLACEAGRAUP282002IN
5	G48716815	100110687	PUNJAB NATIONAL BANK	22/06/2017	-	8000000.0	F- 36 , IBBSANJAY PLACEAGRAUP282007IN
6	G48721203	100110698	PUNJAB NATIONAL BANK	22/06/2017	-	3461500000.0	F- 36 IBBSANJAY PLACEAGRAUP282007IN
7	G48722417	100110699	PUNJAB NATIONAL BANK	22/06/2017	-	8000000.0	F- 36 , IBBSANJAY PLACEAGRAUP282007IN
8	G49003460	100111541	PUNJAB NATIONAL BANK	22/06/2017	-	80000000.0	F- 36 , IBBSANJAY PLACEAGRAUP282007IN
9	G49012008	100111572	PUNJAB NATIONAL BANK	22/06/2017	-	80000000.0	F- 36 , IBBSANJAY PLACEAGRAUP282007IN
10	G44970739	100100520	PUNJAB NATIONAL BANK	02/05/2017	-	440000.0	F-36IBB, SANJAY PLACEAGRAUP282005IN

CONTINGENT LIABILITIES:

(INR in million)

PARTICULARS	31.03.2017
Claims against the company not acknowledge as debts	44.065

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Computer

· Vehicles

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	INR
US Dollar	1	INR 65.34
UK Pound	1	INR 92.70
Euro	1	INR 80.79

INFORMATION DETAILS

Information Gathered by :	SHL
Analysis Done by :	PRI
Report Prepared by :	SUD

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	YES
--AFFILIATION	YES/NO	NO
--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.