MIRA INFORM REPORT

Report No. :	505445
Report Date :	26.04.2018

IDENTIFICATION DETAILS

Name :	ROMSONS SCIENTIFIC AND SURGICAL INDUSTRIES PRIVATE LIMITED
Registered Office :	63, Industrial Estate, Nunhai Agra – 282006, Uttar Pradesh
Tel. No.:	91-562-6620000/2280720
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	28.11.1977
Com. Reg. No.:	20-004511
Capital Investment / Paid-up Capital :	INR 9.600 Million
CIN No.: [Company Identification No.]	U24236UP1977PTC004511
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	09AAACR5839H1Z4
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACR5839H
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in manufactures scientific and surgicals instruments and other products and items of plastic and other material and substances required by hospitals, laboratories school and colleges. [Registered Activity]
No. of Employees :	Information denied by the management

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 4400000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was incorporated in the year 1977 having fine track record and it is engaged as manufacturer of medical instruments. For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year and has maintained fair profit margin during the year. Rating takes into consideration, the healthy financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operations backed by extensive experience of its management team. Trade relations are fair. Payment seems to be regular and as per commitment. In view of aforesaid, the company can be considered for business dealing 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 26.04.2018

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 DENIED

Management Non-Cooperative (91-562-6620000/2280720)

91-11-25762810/25786334 – Continuously Ringing

LOCATIONS

Registered Office :	63, Industrial Estate, Nunhai Agra – 282006, Uttar Pradesh, India
Tel. No.:	91-562-6620000/2280720
Fax No.:	91-562-2280600/2280700
E-Mail :	arvindrallan@gmail.com
Website :	http://www.romsons.com
Corporate Office :	4/1 East Patel Nagar New Delhi – 110008, India
Tel. No.:	91-11-25762810 / 25786334
Fax No.:	91-11-25824997
E-Mail :	sales@romsons.com

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Kishore Narain Khanna

Designation :

Managing Director

Address :

B-7 Lawyers Colony Agra - 282005, Uttar Pradesh, India

Date of Birth/Age :

02.07.1952

Qualification:

Graduate

Date of Appointment :

12.10.1989

DIN No.:

00108143

PAN No.:

AASPK9361J

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U72300UP2010PTC040689	RLK BPO SERVICES PRIVATE LIMITED	19/05/2010	-
U33111UP2013PTC059662	ROSSMAX MANUFACTURING COMPANY PRIVATE LIMITED	20/09/2013	-
U85120DL2006PTC153538	ROSELAND HOSPITALS PRIAVTE LIMITED	12/09/2006	-
U24232UP2006PTC032097	R.G.I. MEDITECH PRIVATE LIMITED	04/07/2006	-

Name :

Mrs. Aruna Khanna

Designation :

Director

Address :

98, Bharatpur House Agra - 282002, Uttar Pradesh, India

Date of Birth/Age :

31.10.1939

Qualification:

Under Graduate

Date of Appointment :

01.03.1981

DIN No.:

00107556

PAN No.:

AFHPK8845D

Name :

Mr. Lalit Narain Khanna

Designation :

Director

Address :

22 , Bagh Farzana Civil Lines, Agra -282002, Uttar Pradesh, India

Date of Birth/Age :

01.07.1954

Qualification:

Graduate

Date of Appointment :

01.05.1990

DIN No.:

00107978

PAN No.:

ACLPK9645A

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U72300UP2010PTC040689	RLK BPO SERVICES PRIVATE LIMITED	19/05/2010	-
U33111UP2013PTC059662	ROSSMAX MANUFACTURING COMPANY PRIVATE LIMITED	20/09/2013	-
U85120DL2006PTC153538	ROSELAND HOSPITALS PRIAVTE LIMITED	12/09/2006	-
U24232UP2006PTC032097	R.G.I. MEDITECH PRIVATE LIMITED	04/07/2006	-

Name :

Mr. Vijay Kumar Khanna

Designation :

Director

Address :

4 , Gulmohar Vatika Shitla Road, Mau Road, Agra -282005, Uttar Pradesh, India

Date of Birth/Age :

05.06.1943

Qualification:

Intermidiate

Date of Appointment :

01.05.1990

DIN No.:

00108067

PAN No.:

AAWPK9224A

Name :

Mr. Rakesh Narain Khanna

Designation :

Director

Address :

A-11/27 Vasant Vihar Delhi 110057, India

Date of Birth/Age :

13.09.1958

Qualification:

Graduate

Date of Appointment :

01.05.1990

DIN No.:

00108227

PAN No.:

ABRPK3499F

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U72300UP2010PTC040689	RLK BPO SERVICES PRIVATE LIMITED	19/05/2010	-
U33111UP2013PTC059662	ROSSMAX MANUFACTURING COMPANY PRIVATE LIMITED	20/09/2013	-
U85120DL2006PTC153538	ROSELAND HOSPITALS PRIAVTE LIMITED	12/09/2006	-
U24232UP2006PTC032097	R.G.I. MEDITECH PRIVATE LIMITED	04/07/2006	-

Name :

Mr. Saourabh Khanna

Designation :

Director

Address :

B-7, Lawyers Colony Bye Pass Road, Agra, 282005, Uttar Pradesh, India

Date of Birth/Age :

10.12.1980

Qualification:

Post Graduate

Date of Appointment :

11.08.2012

DIN No.:

02453162

PAN No.:

AGGPK5708B

Name :

Mr. Neeraj Khanna

Designation :

Director

Address :

F-1/2, Nirbhay Nagar Gailana Road, Agra -282005, Uttar Pradesh, India

Date of Birth/Age :

25.05.1975

Qualification:

Post Graduate

Date of Appointment :

01.04.2008

DIN No.:

02468814

PAN No.:

AFOPK4905M

Name :

Mr. Rohit Khanna

Designation :

Director

Address :

22, Bagh Farzana Civil Lines, Agra- 282002, Uttar Pradesh, India

Date of Birth/Age :

01.10.1985

Qualification:

Graduate

Date of Appointment :

01.04.2013

DIN No.:

06507901

PAN No.:

ALQPK8485Q

Name :

Mr. Sahil Khanna

Designation :

Director

Address :

B-7 Lawyers Colony Agra - 282005, Uttar Pradesh, India

Date of Birth/Age :

25.08.1988

Qualification:

Graduate

Date of Appointment :

30.09.2013

DIN No.:

06507905

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24232UP2006PTC032097	R.G.I. MEDITECH PRIVATE LIMITED	01/03/2016	-

Name :

Mr. Mohit Khanna

Designation :

Director

Address :

22, Bagh Farzana Civil Lines, Agra - 282002, Uttar Pradesh, India

Date of Birth/Age :

01.10.1985

Qualification:

Graduate

Date of Appointment :

01.04.2013

DIN No.:

06507908

PAN No.:

ALQPK8486P

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares
Kishore Narain Khanna	2655
Lalit Narain Khanna	2700
Rakesh Narain Khanna	2700
Arvind Khanna	780
Manju Khanna	45
Uma Mehra	15
K. N. Khanna (HUF)	225
Kishore Narain Khanna (HUF)	120
Lalit Narain Khanna (HUF)	120
Rakesh Narain Khanna (HUF)	120
Rohit Khanna	120
Total	9600

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 :

Subject is engaged in manufactures scientific and surgicals instruments and other products and items of plastic and other material and substances required by hospitals, laboratories school and colleges. [Registered Activity]

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Manufacture of medical and instruments	90189029

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

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 :

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

No. of Employees :

Information denied by the management

Bankers :

Banker Name :	Canara Bank
Branch :	Overseas Branch, Sanjay Place, Agra - 282002, Uttar Pradesh, 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 :	--

• State Bank of India, Nunhai, Agra, Uttar Pradesh, India

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Foreign currency term loans from banks	0.000	55.942
Total	0.000	55.942

Auditors :
Name :	Rallan and Company Chartered Accountants
Address :	4D Kaveri Centre, Ist Floor, Block 57/2, Sanjay P Lace, Agra-28200, Uttar Pradesh, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAPFR1482G
Memberships :	Not Available
Collaborators :	Not Available
Associates:	R.G.I. Meditech Private Limited, India [U24232UP2006PTC032097] Raj Vijay Corporation Unit-1 Raj Vijay Corporation Unit-2 Rennex Medical Romsons Medicons Romsons Junior India Unit-2 Romsons International Unit-2 Rossmed Corporation

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	INR 1000/- each	INR 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9600	Equity Shares	INR 1000/- each	INR 9.600 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	9.600	9.600	9.600
(b) Reserves and Surplus	1537.073	1261.454	1093.692
(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)	1546.673	1271.054	1103.292
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	65.402	55.084	41.129
(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)	65.402	55.084	41.129
(4) Current Liabilities
(a) Short-term borrowings	226.942	266.570	212.632
(b) Trade payables	18.971	11.132	44.811
(c) Other current liabilities	68.303	59.523	66.928
(d) Short-term provisions	135.337	127.803	172.195
Total Current Liabilities (4)	449.553	465.028	496.566
TOTAL	2061.628	1791.166	1640.987
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	751.085	697.909	510.926
(ii) Intangible Assets	0.844	1.081	0.921
(iii) Tangible assets capital work-in-progress	14.712	3.063	86.127
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	29.063	25.032	22.462
(e) Other Non-current assets	312.569	229.978	210.751
Total Non-Current Assets	1108.273	957.063	831.187
(2) Current assets
(a) Current investments	5.008	0.000	0.000
(b) Inventories	409.083	413.317	416.994
(c) Trade receivables	202.056	183.797	204.077
(d) Cash and bank balances	132.120	31.770	5.187
(e) Short-term loans and advances	188.786	191.280	173.619
(f) Other current assets	16.302	13.939	9.923
Total Current Assets	953.355	834.103	809.800
TOTAL	2061.628	1791.166	1640.987

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	1938.039	1787.233	1710.042
	Other Income	34.927	41.981	27.861
	TOTAL	1972.966	1829.214	1737.903
Less	EXPENSES
	Cost of Materials Consumed	643.674	663.739	692.188
	Purchases of Stock-in-Trade	4.679	2.510	6.391
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	18.145	0.704	(33.796)
	Employee benefit expense	428.498	353.316	301.201
	CSR expenditure	3.795	2.474	0.800
	Other expenses	355.335	310.646	313.480
	Prior period items	20.048	1.964	0.375
	TOTAL	1474.174	1335.353	1280.639
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	498.792	493.861	457.264
Less	FINANCIAL EXPENSES	22.340	12.699	11.135
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	476.452	481.162	446.129
Less/ Add	DEPRECIATION/ AMORTISATION	53.906	50.919	49.117
	PROFIT/ (LOSS) BEFORE TAX	422.546	430.243	397.012
Less	TAX	123.818	135.555	127.035
	PROFIT/ (LOSS) AFTER TAX	298.728	294.688	269.977
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	4.604	6.843	7.605
Add	Adjustment of Depreciation (Companies Act 2013) Depreciation (Companies Act 2013)	0.000	0.000	79.280
Less	Adjustment for Defered Tax on Depreciation adjustment	0.000	0.000	26.947
Less	APPROPRIATIONS
	Proposed dividend on equity shares	19.200	115.200	81.600
	Dividend distribution tax on equity shares	3.909	11.727	16.472
	Transfer to Reserves	280.000	170.000	225.000
	Balance Carried to the B/S	0.223	4.604	6.843
	Earnings / (Loss) Per Share (INR)	31117.50	30696.67	28122.60

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	397.820	360.844	291.540
Net cash flows from (used in) operating activities	274.002	225.288	164.504

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	38.05	37.54	43.56
Account Receivables Turnover (Income / Sundry Debtors)	9.59	9.72	8.38
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	10.68	6.10	23.41
Inventory Turnover (Operating Income / Inventories)	1.22	1.19	1.10
Asset Turnover (Operating Income / Net Fixed Assets)	0.65	0.70	0.76

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.22	0.26	0.30
Debt Equity Ratio (Total Liability / Networth)	0.15	0.21	0.19
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.29	0.37	0.45
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.50	0.55	0.54
Interest Coverage Ratio (PBIT / Financial Charges)	22.33	38.89	41.07

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	15.41	16.49	15.79
Return on Total Assets ((PAT / Total Assets) * 100)	%	14.49	16.45	16.45
Return on Investment (ROI) ((PAT / Networth) * 100)	%	19.31	23.18	24.47

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	2.12	1.79	1.63
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.21	0.90	0.79
G-Score Ratio Financial (Networth / Total Assets)	0.75	0.71	0.67
G-Score Ratio Debt (Debts / Equity Capital)	23.64	27.77	22.15
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.12	1.79	1.63

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	9.600	9.600	9.600
Reserves & Surplus	1093.692	1261.454	1537.073
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1103.292	1271.054	1546.673
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	212.632	266.570	226.942
Total borrowings	212.632	266.570	226.942
Debt/Equity ratio	0.193	0.210	0.147

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	1710.042	1787.233	1938.039
		4.514	8.438

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	1710.042	1787.233	1938.039
Profit/ (Loss)	269.977	294.688	298.728
	15.79 %	16.49 %	15.41 %

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	No
8	Designation of contact person	No
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)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOANS:

(INR In Million)

Particulars	As on 31.03.2017	As on 31.03.2016
SHORT TERM BORROWING
Loans and advances from directors	97.511	77.512
Loans and advances from others	129.431	133.116
Total	226.942	210.628

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G50016773	10432561	CANARA BANK	24/04/2013	-	25/07/2017	148500000.0	OVERSEAS BRANCHSANJAY PLACEAGRAUP282002IN
2	G50246552	90272058	STATE BANK OF INDIA	10/03/1998	-	25/07/2017	5000000.0	NUNHAIAGRAUPIN
3	G50246610	90269109	STATE BANK OF INDIA	23/08/1997	23/08/1999	25/07/2017	4374000.0	NUNHAIAGRAUPIN

FIXED ASSETS:

Tangible assets

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

Intangible assets

• Brands and trade marks
• Trade marks
• Computer software

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No 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 66.70
UK Pound	1	INR 93.14
Euro	1	INR 81.43

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	NIS
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.