MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	489725
Report Date :	05.02.2018

IDENTIFICATION DETAILS

Name :	ARIHANT PLANTATIONS PRIVATE LIMITED [w.e.f.10.08.2011]

Formerly Known As :	ARIHANT PLANTATIONS LIMITED [w.e.f.24.09.2010] ARIHANT TEA PLANTATIONS (INDIA) LIMITED

Registered Office :	Grassmore Tea Estate, P.S. Nagrakata, District Jalpaiguri – 735225, West Bengal
Tel. No.:	91-33-22254215/ 22310268

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	31.08.2009

Com. Reg. No.:	21-138090

Capital Investment / Paid-up Capital :	INR 100.000 Million

CIN No.: [Company Identification No.]	U15431WB2009PTC138090

IEC No.:	Not Applicable (As informed by the management that firm does not have export and import)

TIN No:	19472081089

GSTIN:	19AAKCA0589R1ZS

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAKCA0589R

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturing and Trading of Tea. (Registered Activity and Also Confirmed by management)

No. of Employees :	1200 (Approximately)

RATING & COMMENTS

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

MIRA’s Rating :

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 a wholly owned subsidiary of “Rangamati Realinfra Private Limited” and was incorporated in the year 2009. For the financial year 2017, the company has increased in its revenue from operation and maintained decent profitability margin of 6.23%. Rating takes into consideration sound financial profile of the company marked by adequate networth base and average debt balance sheet. Further, rating also reflects company’s improvement in the revenue as well as profitability profile during the year and experienced management along with the group supported the company by way of infusion of funds in the form of unsecured loan. However, rating strength is partially offset by susceptibility to vagaries of nature labour intensive nature of business, volatility in tea prices, high competition in the sector and working capital intensive nature of its business. Trade relations are reported as fair. Business payments are seems to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

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

(30.06.2017)

Current Rating

(30.09.2017)

India

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 Rating (BB)
Rating Explanation	Moderate risk of default.
Date	09.01.2017

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 05.02.2018

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. M. Patwari
Designation :	Accountant
Contact No.:	91-9007342310
Date :	03.10.2018

LOCATIONS

Registered Office/ Factory :	Grassmore Tea Estate, P.S. Nagrakata, District Jalpaiguri – 735225, West Bengal, India
Tel. No.:	91-33-22254215/ 22310268
Mobile No.:	91-9007342310 (Mr. M. Patwari)
Fax No.:	Not Available
E-Mail :	hmptea@gmail.com patwari.hmp@gmail.com

Corporate Office :	Poddar HMP House, 4, Fairlie Place, Kolkata-700001, West Bengal, India

DIRECTORS

As on 31.03.2017

Name :

Mr. Sushil Kumar Gadia

Designation :

Director

Address :

20, Round Tank Lane, Block-A, Flat No.209, Shanti-Niketan, Howrah - 711101, West Bengal, India

Date of Birth/Age :

24.04.1955

Qualification :

B. Com

Date of Appointment :

20.10.2014

PAN No.:

ADFPG3615F

DIN No.:

00402471

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U70102WB2013PTC194067	BRAJBIHARI DEVELOPERS PRIVATE LIMITED	09/09/2013	-
U01132WB1919PLC003550	DARJEELING IMPEX LIMITED	01/08/2016	-
U51909WB1961PLC025035	HEMRAJ MAHABIR PRASAD LTD	06/04/2005	-
U51219WB1983PLC036127	RALLIFAN LIMITED	22/09/2003	-
U65921WB1983PLC036308	UNIQUE ENTERPRENUERS & FINANCE LIMITED	19/04/2005	-
U52190WB2010PTC146569	ROWLAND TRADING PRIVATE LIMITED	04/05/2010	-
U52190WB2010PTC146567	MALDIVE TRADING PRIVATE LIMITED	04/05/2010	-
U70101WB1995PLC071939	AASHIRVAD VILLA LIMITED	31/03/1997	-
U74900WB2013PTC194350	WISECRACK REAL ESTATES PRIVATE LIMITED	09/09/2013	-
U74900WB2013PTC194090	WISECRACK MERCHANDISE PRIVATE LIMITED	09/09/2013	-
U70101WB1995PTC073284	TILAK ROAD PUNE PROPERTIES PRIVATE LIMITED	28/06/1997	-
U52190WB2010PTC146809	PAILAN TRADING PRIVATE LIMITED	06/05/2010	-
U51109WB1996PTC077970	CHANDANPUR TEA COMPANY PRIVATE LIMITED	01/08/2016	-
U31908WB2013PLC193545	ELECTRONICA INDIA LIMITED	09/09/2013	-
U51909WB1995PLC076016	RALLI AGROTECH LIMITED	01/11/2011	-
U70102WB2013PTC193107	DEVADEVA ENCLOVES PRIVATE LIMITED	09/09/2013	-
U29253WB2010PTC146572	PODDAR HMP INDUSTRIES PRIVATE LIMITED	04/05/2010	-
U51109WB1996PLC077080	RALLI ENGINEERING LIMITED	28/06/1997	-

Name :

Mr. Suresh Kumar Agarwal

Designation :

Director

Address :

P-21, C.I.T. Scheme, VII M, Kolkata - 700054, West Bengal, India

Date of Birth/Age :

26.07.1958

Qualification :

B. Com

Date of Appointment :

20.10.2014

PAN No.:

AFGPA7909H

DIN No.:

00487016

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U51909WB2016PTC209156	TRINABH TRADING PRIVATE LIMITED	01/02/2016	-
U51909WB2016PTC209155	TRIWAVE SUPPLIERS PRIVATE LIMITED	01/02/2016	-
U51909WB2016PTC209164	AVIRO TRADERS PRIVATE LIMITED	18/01/2016	-
U70102WB2013PTC192960	MAHAGAURI ENCLOVE PRIVATE LIMITED	20/12/2017	-
U70102WB2013PTC195898	WARISON INFRA STRUCTURE PRIVATE LIMITED	01/10/2016	-
U70109WB2011PLC169160	VALSAD PROPERTIES LIMITED	08/11/2011	-
U29120WB2006PLC111968	WOLF ENGINEERING LIMITED	27/10/2014	-
U67120WB1996PTC079431	BANJARA FINANCE PRIVATE LIMITED	22/12/2017	-
U51109WB1996PLC077080	RALLI ENGINEERING LIMITED	06/11/2013	-
U74999WB1996PTC077078	CLASSIC WHEELS PRIVATE LIMITED	01/08/2016	-
U65999WB1994PTC062260	PAHARGOOMIAH FINANCE PVT. LTD.	17/09/2007	-
U51101WB1994PTC062259	NORTH INDIA TEA MARKETING PRIVATE LIMITED	10/04/2007	-
U51219WB1983PLC036127	RALLIFAN LIMITED	10/08/2009	-
U51909WB1983PLC036281	INIMITABLE PROPERTIES LIMITED	01/08/2016	-
U51909WB1983PLC036279	PODDAR DEWKI LTD	01/07/2016	-
U01132WB1975PTC029980	AYLA BARI TEA COMPANY PRIVATE LIMITED	20/10/2014	-
U51909WB1919PLC003552	DOOARS EXIM LIMITED	01/09/2009	-
U01132WB1919PLC003550	DARJEELING IMPEX LIMITED	07/07/2003	-

Name :

Mr. Manoj Kumar Poddar

Designation :

Director

Date of Birth/Age :

26.07.1958

Date of Appointment :

20.11.2017

DIN No.:

06802398

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U51219WB1983PLC036127	RALLIFAN LIMITED	25/09/2017	-

KEY EXECUTIVES

Name :	Mrs. Rupa Gupta
Designation :	Practicing Company Secretary
Address :	52, Sankari Para Road, Ground Floor, Block – A, Kolkata – 700025, West Bengal, India
Mob. No:	91-9830445347
Email:	Gupta.rupa86@gmail.com

Name :	Mr. M. Patwari
Designation :	Accountant

MAJOR SHAREHOLDERS

As on 31.03.2017

Names of Equity Shareholders		No. of Shares
Rangamati Realinfra Private Limited, India		8499986
Ayla Bari Tea Company Private Limited, India		10
Darjeeling Tea and Chin ASS Limited, India		1
Darjeeling Impex Limited, India		1
Pahargoomiah Finance		1
North India Tea Marketing Private Limited, India		1
Total		8500000

Names of Preference Shareholders		No. of Shares
Seabird Trade Link Private Limited, India		30000
Span Commercial Private Limited, India		35000
Glix Securities Private Limited, India		35000
Pratap Singh Surana		25000
Carnex Distributors Private Limited, India		25000
Total		150000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2017

Category	Percentage
Public/Other than promoters (Body corporate)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Trading of Tea. (Registered Activity and Also Confirmed by management)

Products / Services :

Item Code No.	Products/Services Description
09021020	Black Tea

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference:	Goyal Sales Agency
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Experience:	--
Maximum limit dealt:	--

· Kayencee Cereals Private Limited

· Kurseong Carriers Private Limited

· Subir Paul

· Nutech Bearing Private Limited

Customers :

End Users

Reference:	Contemporary Brokers Private Limited
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Experience:	--
Maximum limit dealt:	--

Reference:	Desai and Sons
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Experience:	--
Maximum limit dealt:	--

· J. Thomas and Company

· Paramount Tea Marketing Private Limited

· Tea Connoisseurs

No. of Employees :

1200 (Approximately)

Bankers :

Banker Name :	Bank of India
Branch :	New Town (Islampur) Branch, Deshbandhupar, Aislampur-735225, West Bengal, 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 :	--

Union Bank of India, Union Loan Point, 1st Floor, 9, India Exchange Place, Kolkata-700001, West Bengal, India

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Term loans from Banks (The term loan is secured by hypothecation of all machineries and other assets created out of Bank finance upto a value equivalent to the amount of loan and interest thereon.)	107.542	71.248
Short-term borrowings
Working capital loans from banks	64.588	64.889
Total	172.130	136.137

Auditors :
Name :	Sujit Maulik and Company Chartered Accountants
Address :	36, Banerjee Para Road, Kolkata, West Bengal, India
Income-tax PAN of auditor or auditor's firm :	ADNPM0822A

Memberships :	Not Available

Collaborators :	Not Available

Holding Company:	Rangamati Realinfra Private Limited (U70102WB2013PTC194072)

CAPITAL STRUCTURE

As on: 30.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount

8500000	Equity Shares	INR 10/- each	INR 85.000 Million
150000	Preference Shares	INR 100/- each	INR 15.000 Million
	Total		INR 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

8500000	Equity Shares	INR 10/- each	INR 85.000 Million
150000	Preference Shares	INR 100/- each	INR 15.000 Million
	Total		INR 100.000 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	100.000	100.000	100.000
(b) Reserves & Surplus	55.917	41.008	(28.771)
(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)	155.917	141.008	71.229

(3) Non-Current Liabilities
(a) long-term borrowings	279.892	199.098	92.422
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	19.132	24.184	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	299.024	223.282	92.422

(4) Current Liabilities
(a) Short term borrowings	64.588	64.889	39.877
(b) Trade payables	5.138	6.230	7.692
(c) Other current liabilities	48.482	17.307	44.520
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	118.208	88.426	92.089

TOTAL	573.149	452.716	255.740

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	397.838	344.167	178.319
(ii) Intangible Assets	3.903	3.903	3.903
(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	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	401.741	348.070	182.222

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	139.693	95.499	56.708
(c) Trade receivables	18.097	1.093	10.696
(d) Cash and cash equivalents	2.484	1.758	3.197
(e) Short-term loans and advances	11.134	6.296	2.917
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	171.408	104.646	73.518

TOTAL	573.149	452.716	255.740

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	239.419	165.553	81.906
	Other Income	0.666	0.594	0.266
	TOTAL	240.085	166.147	82.172

Less	EXPENSES
	Purchases of Stock-in-Trade	144.121	109.937	9.758
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(44.510)	(78.659)	(34.740)
	Employees benefits expense	59.012	69.147	66.297
	Other expenses	35.821	37.118	30.815
	TOTAL	194.444	137.543	72.130

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	45.641	28.604	10.042

Less	FINANCIAL EXPENSES	24.570	13.090	3.044

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	21.071	15.514	6.998

Less/ Add	DEPRECIATION/ AMORTISATION	6.162	3.370	3.516

	PROFIT/ (LOSS) BEFORE TAX	14.909	12.144	3.482

Less	TAX	0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX	14.909	12.144	3.482

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	(16.627)	(28.771)	(32.253)

	Balance Carried to the B/S	(1.718)	(16.627)	(28.771)

	Earnings / (Loss) Per Share (INR)	1.75	1.43	0.41

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	(20.234)	(3.279)	0.602
Net cash flows from (used in) operating activity	(20.234)	(3.279)	0.602

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	27.59	2.41	47.66

Account Receivables Turnover (Income / Sundry Debtors)	13.23	151.47	7.66

Average Payment Days (Sundry Creditors / Purchases * 365 Days)	13.01	20.68	287.72

Inventory Turnover (Operating Income / Inventories)	0.33	0.30	0.18

Asset Turnover (Operating Income / Net Fixed Assets)	0.11	0.08	0.06

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.69	0.64	0.72

Debt Equity Ratio (Total Liability / Networth)	2.21	1.87	1.86

Current Liabilities to Networth (Current Liabilities / Net Worth)	0.76	0.63	1.29

Fixed Assets to Networth (Net Fixed Assets / Networth)	2.58	2.47	2.56

Interest Coverage Ratio (PBIT / Financial Charges)	1.86	2.19	3.30

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	6.23	7.34	4.25

Return on Total Assets ((PAT / Total Assets) * 100)	%	2.60	2.68	1.36

Return on Investment (ROI) ((PAT / Networth) * 100)	%	9.56	8.61	4.89

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.45	1.18	0.80

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.27	0.10	0.18

G-Score Ratio Financial (Networth / Total Assets)	0.27	0.31	0.28

G-Score Ratio Debt (Debts / Equity Capital)	3.44	2.64	1.32

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.45	1.18	0.80

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	100.000	100.000	100.000
Reserves & Surplus	(28.771)	41.008	55.917
Net worth	71.229	141.008	155.917

long-term borrowings	92.422	199.098	279.892
Short term borrowings	39.877	64.889	64.588
Total borrowings	132.299	263.987	344.480
Debt/Equity ratio	1.857	1.872	2.209

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	81.906	165.553	239.419
		102.126	44.618

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	81.906	165.553	239.419
Profit	3.482	12.144	14.909
	4.25%	7.34%	6.23%

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	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 two/ three years	Yes
27	Reasons for variation <> 20%	--
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	Yes
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)
Long-term Borrowings
Interoperate borrowings	172.350	127.850
Total	172.350	127.850

INDEX OF CHARGES

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G49192198	100112222	Bank of India	17/05/2017	-	-	135900000.0	New Town (Islampur) Branch, Deshbandhupar, Aislampur-735225, West Bengal, India
2	G51228286	10625439	UNION BANK OF INDIA	22/02/2016	23/08/2017	-	28000000.0	1st Floor, 9, India Exchange Place, Kolkata-700001, West Bengal, India
3	G46763199	10592278	Union Bank Of India	07/09/2015	-	01/06/2017	170000000.0	1st Floor, 9, India Exchange Place, Kolkata-700001, West Bengal, India
4	G46587416	10548778	UNION BANK OF INDIA	30/12/2014	15/12/2016	01/06/2017	148000000.0	1st Floor, 9, India Exchange Place, Kolkata-700001, West Bengal, India
5	G46586194	100070348	UNION BANK OF INDIA	16/12/2016	-	01/06/2017	172500000.0	1st Floor, 9, India Exchange Place, Kolkata-700001, West Bengal, India
6	G46759494	100071049	UNION BANK OF INDIA	22/12/2016	-	01/06/2017	119817000.0	1st Floor, 9, India Exchange Place, Kolkata-700001, West Bengal, India
7	G46761482	100016712	UNION BANK OF INDIA	16/02/2016	-	01/06/2017	79500000.0	1st Floor, 9, India Exchange Place, Kolkata-700001, West Bengal, India

FIXED ASSETS

Land
Building
Furniture and Fixture
Computer
Office equipment
Plant and Machinery
Vehicle
Computer Accessories
Bridges roads ports culverts
Plantations
Computer Software
Goodwill

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 64.08
UK Pound	1	INR 91.34
Euro	1	INR 80.04

INFORMATION DETAILS

Information Gathered by :	SWT

Analysis Done by :	PSD

Report Prepared by :	MTN

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.