MIRA INFORM REPORT

Report No. :	504844
Report Date :	23.04.2018

IDENTIFICATION DETAILS

Name :	MICHIGAN ENGINEERS PRIVATE LIMITED
Registered Office :	D-7, Commerce Centre, 78 Javji Dadaji Road, Tardeo, Mumbai – 400034, Maharashtra
Tel. No.:	91-22-22235148
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	01.05.1973
Com. Reg. No.:	11- 016515
Capital Investment / Paid-up Capital :	INR 17.357 Million
CIN No.: [Company Identification No.]	U45300MH1973PTC016515
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACM2806P
Legal Form :	Private Limited Liability Company
Line of Business :	Construction activity. [Registered activity and also confirmed by management]
No. of Employees :	100 (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 2800000
Status :	Good
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1973. It is engaged in the construction activity. As per the financial of 2017, the company has reported a decline in its revenue as compared to the previous year’s revenue but has managed to maintain an average net profit margin of 3.82%. The company possesses healthy financial position marked by sound net worth base, low debt balance sheet profile and comfortable liquidity parameter. The rating is constrained by company’s working capital intensity and inherent challenges associated with the construction sector. Business is active. 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.

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 31-03-2018.

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 23.04.2018

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 :	Mr. Nitin Bhosale
Designation :	Accountant
Contact No.:	91-22-22235148
Date :	21.04.2018

LOCATIONS

Registered Office :	D-7, Commerce Centre, 78 Javji Dadaji Road, Tardeo, Mumbai – 400034, Maharashtra, India
Tel. No.:	91-22-22235148/23522207/61470300/66605781
Fax No.:	91-22-22235208/23520853
E-Mail :	michiganho@gmail.com
Location :	Owned
Locality :	Commercial cum industrial

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Saurin Manubhai Patel

Designation :

Managing Director

Address :

71, Ritu Apartment, 1 / 113, Dongarshi Road, Mumbai -400006, Maharashtra, India

Date of Birth/Age :

12.04.1961

Qualification:

Post graduate

Date of Appointment :

01.04.2011

DIN No.:

00909324

PAN No.:

AADPP3622J

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51220MH1964PTC013035	WEGA PRIVATE LIMITED	27/02/1997	-
U45200MH1973PTC017069	ANEESH APARTMENTS PRIVATE LIMITED	24/04/1980	-
U90001MH2009PTC192888	APS MICHIGAN ENGINEERING PRIVATE LIMITED	01/06/2009	-

Name :

Mr. Manubhai Narshibhai Patel

Designation :

Wholetime Director

Address :

51 / A, Sky Scraper, 74, Bhulabhai Desai Road, Mumbai -400026, Maharashtra, India

Date of Birth/Age :

08.06.1927

Qualification:

Ph.D. holder

Date of Appointment :

01.04.2011

DIN No.:

00909485

PAN No.:

AAHPP8963G

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L45202MH1957PLC010986	R J SHAH AND COMPANY LIMITED	28/09/2016	-
U51220MH1964PTC013035	WEGA PRIVATE LIMITED	24/04/1980	-
U45200MH1973PTC017069	ANEESH APARTMENTS PRIVATE LIMITED	24/04/1980	-
U90001MH2009PTC192888	APS MICHIGAN ENGINEERING PRIVATE LIMITED	01/06/2009	-

Name :

Mr. Pravin Arjun Patel

Designation :

Director

Address :

A.K.Patel Bunglow, 5 - D, Dadabhai Road, Santacruz (West), Mumbai -400054, Maharashtra, India

Date of Appointment :

29.07.2006

DIN No.:

00029453

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U45200MH2005PTC156007	LANDVIEW INDIA PRIVATE LIMITED	13/09/2005	-
U70101DL2009PTC193609	PAN REALTORS PRIVATE LIMITED	30/09/2013	-
U40101UP2008PTC049630	DIRANG ENERGY PRIVATE LIMITED	29/09/2017	-
U70200MH2008PTC180434	ADDO LAND PROJECTS PRIVATE LIMITED	26/03/2008	-
U70102MH2008PTC180315	SENTA PROJECT DEVELOPERS PRIVATE LIMITED	19/03/2008	-
U70200MH2008PTC180370	SKYE PROJECT DEVELOPERS PRIVATE LIMITED	24/03/2008	-
U45400MH2007PTC170089	NIRVANA LANDS PRIVATE LIMITED	19/04/2007	-
U45203MH1999PLC120403	ASI - RCC INDIA LIMITED	18/06/1999	-
U28920MH1973PTC016432	PRAHAM INDIA PRIVATE LIMITED	28/03/1973	-

Name :

Mr. Rupen Pravin Patel

Designation :

Director

Address :

A.K.Patel Bunglow, 5 - D, Dadabhai Road, Santacruz (West), Mumbai -400054, Maharashtra, India

Date of Appointment :

29.07.2006

DIN No.:

00029583

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U40108UP2010PTC042685	PATEL HYDRO POWER PRIVATE LIMITED	29/11/2010	-
U80301MH2009NPL196725	ARPAN WELFARE FOUNDATION	28/10/2009	-
U72900MH2009PTC193475	ENERGY DESIGN PRIVATE LIMITED	22/06/2009	-
U70200MH2007PLC167118	PATEL REALTY (INDIA) LIMITED	09/09/2014	-
U70200MH2007PLC166899	BELLONA ESTATE DEVELOPERS LIMITED	08/09/2014	-
U45200MH2005PTC158493	PATEL PATRON PRIVATE LIMITED	30/12/2005	-
U45200MH2005PTC158079	SHREEANANT CONSTRUCTION PRIVATE LIMITED	15/12/2005	-
U70100MH1989PTC050515	PATEL CORPORATION PRIVATE LIMITED	16/08/1995	-
U28920MH1973PTC016432	PRAHAM INDIA PRIVATE LIMITED	24/08/1987	-
L99999MH1949PLC007039	PATEL ENGINEERING LIMITED	30/12/2017	-

Name :

Mr. Nilesh Rasik Tejura

Designation :

Director

Address :

Flat No-2, Silvan Roche, 21 M.L. Dahanukar Road, Mumbai 400026, Maharashtra, India

Date of Appointment :

15.11.2017

DIN No.:

07991797

Name :

Mr. Santosh Kumar Verma

Designation :

Director

Address :

A/503, Paloma, Hiranandani Estate, Patlipada, Thane West, Mumbai - 400607, Maharashtra, India

Date of Appointment :

15.11.2017

DIN No.:

07994000

KEY EXECUTIVES

Name :	Mr. Nitin Bhosale
Designation :	Accountant

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares	% of Holding
Patel Engineering Limited, India	885220	51.00
Saurin Manubhai Patel	850500	49.00
Total	1735720	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 01.09.2017

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	49.00
Promoters- Body corporate	51.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Construction activity. [Registered activity and also confirmed by management]

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Construction	452

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Products :

Raw material

Countries :

• European Contries
• African Contries
• Unites States of America

Terms :

Selling :

Cash, L/C, Advance Payment, Cheque and Credit (NEFT / RTGS) (30,60,90 Days)

Purchasing :

Cash, L/C, Advance Payment, Cheque and Credit (NEFT / RTGS) (30,60,90 Days)

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 :

Manufacturer

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

No. of Employees :

100 (Approximately)

Bankers :

Banker Name :	Axis Bank Limited
Branch :	Jeevan Prakash Building, Ground Floor, STR PM Road, Fort, Mumbai – 400001, Maharashtra, India
Person Name (With Designation) :	Ms. Rohini
Contact Number :	91-22-40867336
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 :	Denied to provide information

• Axis Bank Limited, "Trishul', 3rd Floor, Opposite to Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad - 380006, Gujarat, India

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Rupee term loans from banks	3.875	0.000
Rupee term loans from others	11.456	32.610
SHORT TERM BORROWING
Term loans from banks	75.519	35.402
Working capital loans from banks	60.000	60.000
Other loans and advances, others	400.281	564.856
Total	551.131	692.868

Auditors :
Name :	Parikh and Shah Chartered Accountants
Address :	Bhupati Chambers, 1St Floor, 13, Mathew Road, Opera House, Mumbai 400004, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFP1842M
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Patel Engineering Limited, India [L99999MH1949PLC007039]
Associate:	Michigan RPS J.V. Patel Michigan J.V. Relcon Michigan J.V. APS Michigan J.V. Reliance Michigan J.V Onsite Michigan J.V.

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	INR 10/- each	INR 150.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1735720	Equity Shares	INR 10/- each	INR 17.357 Million

FINANCIAL DATA

[all figures are 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	17.357	17.357	17.357
(b) Reserves and Surplus	973.999	919.523	881.491
(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)	991.356	936.880	898.848
(3) Non-Current Liabilities
(a) long-term borrowings	15.331	32.610	92.068
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long-term liabilities	0.000	0.000	0.000
(d) long-term provisions	6.179	5.596	5.138
Total Non-current Liabilities (3)	21.510	38.206	97.206
(4) Current Liabilities
(a) Short-term borrowings	535.800	660.258	637.521
(b) Trade payables	298.207	399.838	255.567
(c) Other current liabilities	322.216	115.350	104.269
(d) Short-term provisions	5.246	6.852	8.777
Total Current Liabilities (4)	1161.469	1182.298	1006.134
TOTAL	2174.335	2157.384	2002.188
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	488.021	246.122	293.846
(ii) Intangible Assets	0.146	0.197	0.165
(iii) Tangible assets capital work-in-progress	38.334	37.164	27.638
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.050	0.050	0.050
(c) Deferred tax assets (net)	59.298	63.139	59.477
(d) Long-term loans and advances	0.000	0.000	0.000
(e) Other Non-current assets	80.721	88.050	75.624
Total Non-Current Assets	666.570	434.722	456.800
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	827.331	1004.761	952.586
(c) Trade receivables	68.489	206.644	58.931
(d) Cash and bank balances	2.902	0.647	8.062
(e) Short-term loans and advances	609.043	510.610	525.809
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1507.765	1722.662	1545.388
TOTAL	2174.335	2157.384	2002.188

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	1427.527	1438.954	1028.229
	Other Income	14.897	(9.420)	27.365
	TOTAL	1442.424	1429.534	1055.594
Less	EXPENSES
	Cost of Materials Consumed	1041.040	1055.572	0.000
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Employee benefit expense	91.725	85.190	82.424
	Other expenses	37.803	36.307	748.815
	TOTAL	1170.568	1177.069	831.239
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	271.856	252.465	224.355
Less	FINANCIAL EXPENSES	127.380	129.280	133.415
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	144.476	123.185	90.940
Less/ Add	DEPRECIATION/ AMORTISATION	72.658	80.063	67.764
	PROFIT/ (LOSS) BEFORE TAX	71.818	43.122	23.176
Less	TAX	17.341	5.090	2.123
	PROFIT/ (LOSS) AFTER TAX	54.477	38.032	21.053
	Earnings / (Loss) Per Share (INR)	31.39	21.91	12.13

Particulars	31.03.2018
Sales Turnover (Approximately)	1450.000 (Due to market fluctuation)

The above information has been parted by Mr. Nitin Bhosale (Accountant)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	113.305	58.247	61.579
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	533.252	227.703	135.550
Net cash flows from (used in) operating activities	525.437	204.264	135.550

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	17.51	52.42	20.92
Account Receivables Turnover (Income / Sundry Debtors)	20.84	6.96	17.45
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	104.55	138.26	0.00
Inventory Turnover (Operating Income / Inventories)	0.33	0.25	0.24
Asset Turnover (Operating Income / Net Fixed Assets)	0.52	0.89	0.70

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.59	0.59	0.58
Debt Equity Ratio (Total Liability / Networth)	0.67	0.80	0.88
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.17	1.26	1.12
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.53	0.30	0.36
Interest Coverage Ratio (PBIT / Financial Charges)	2.13	1.95	1.68

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	3.82	2.64	2.05
Return on Total Assets ((PAT / Total Assets) * 100)	%	2.51	1.76	1.05
Return on Investment (ROI) ((PAT / Networth) * 100)	%	5.50	4.06	2.34

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.30	1.46	1.54
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.59	0.61	0.59
G-Score Ratio Financial (Networth / Total Assets)	0.46	0.43	0.45
G-Score Ratio Debt (Debts / Equity Capital)	38.28	43.27	45.58
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.30	1.46	1.54

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	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	17.357	17.357	17.357
Reserves & Surplus	881.491	919.523	973.999
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	898.848	936.880	991.356
Long-term borrowings	92.068	32.610	15.331
Short term borrowings	637.521	660.258	535.800
Current maturities of long-term debts	61.579	58.247	113.305
Total borrowings	791.168	751.115	664.436
Debt/Equity ratio	0.880	0.802	0.670

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	1028.229	1438.954	1427.527
		39.945	(0.794)

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	1028.229	1438.954	1427.527
Profit/ (Loss)	21.053	38.032	54.477
	2.05 %	2.64 %	3.82 %

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	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%	Yes
28	Estimation for coming financial year	Yes
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

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G79254165	100163764	RELIANCE COMMERCIAL FINANCE LIMITED	01/09/2017	-	-	78363650.0	RELIANCE CENTRE, 6TH FLOOR, SOUTH WING,OFF. WESTERN EXPRESS HIGHWAY, SANTACRUZ (EAST)MUMBAIMA400055IN
2	G80286164	100163791	RELIANCE COMMERCIAL FINANCE LIMITED	31/08/2017	-	-	121636350.0	RELIANCE CENTRE, 6TH FLOOR, SOUTH WING,OFF. WESTERN EXPRESS HIGHWAY, SANTACRUZ (EAST)MUMBAIMA400055IN
3	G44137743	100098311	AXIS BANK LIMITED	07/03/2017	-	-	1248000.0	"TRISHUL', 3RD FLOOR, OPP TO SAMARTHESHWAR TEMPLELAW GARDEN, ELLIS BRIDGEAHMEDABADGJ380006IN
4	G35487420	100080546	RELIANCE CAPITAL LTD	03/11/2016	-	-	140000000.0	"H" BLOCK 1ST FLOORDHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNENAVI MUMBAIMA400710IN
5	C19287408	10518204	RELIANCE CAPITAL LTD	12/08/2014	-	-	150000000.0	"H" BLOCK 1ST FLOORDHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNENAVI MUMBAIMH400710IN
6	C15646169	10516931	RELIANCE CAPITAL LTD	01/06/2014	-	-	34970000.0	"H" BLOCK 1ST FLOORDHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNENAVI MUMBAIMH400710IN
7	B67869644	10402359	HDFC BANK LIMITED	07/02/2013	-	-	9100000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
8	C54762083	10096239	AXIS BANK LIMITED	12/03/2008	11/12/2014	-	1150000000.0	AXIS HOUSE, C 2, WADIA INTERNATIONAL CENTREP B MARG, WORLIMUMBAIMH400025IN
9	C38327581	10147087	YES BANK LIMITED	22/12/2007	10/10/2013	-	660000000.0	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN
10	G07971278	80032630	BANK OF BARODA	25/06/1990	19/01/2009	28/06/2016	200000000.0	NEPEANSEA ROAD BRANCH, SIDDHARTH APARTMENT21, LADY JAGMOHANDAS MEHTA ROAD,MUMBAIMH400036IN

FIXED ASSETS:

Tangible assets

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

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 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 66.02
UK Pound	1	INR 92.73
Euro	1	INR 81.46

INFORMATION DETAILS

Information Gathered by :	TEJ
Analysis Done by :	NYT
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.