MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	494456
Report Date :	24.02.2018

IDENTIFICATION DETAILS

Name :	SPG MULTI TRADE PRIVATE LIMITED (w.e.f.19.02.2008)

Formerly Known As :	SHREE TIRUPATI REAL ESTATES PRIVATE LIMITED

Registered Office :	Unit No 1207, B Wing, One BKC, Plot No C -66, Bandra Kurla Complex, Bandra East, Mumbai – 400051, Maharashtra
Mobile No.:	91-8793214715 (Mr. Gaurav Satyanarayan Agrawal)

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	24.02.2006

Com. Reg. No.:	11- 160006

Capital Investment / Paid-up Capital :	INR 20.000 Million

CIN No.: [Company Identification No.]	U45200MH2006PTC160006

IEC No.: [Import-Export Code No.]	0308086643

GSTN : [Goods & Service Tax Registration No.]	27AAJCS7509J1ZW

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

PAN No.: [Permanent Account No.]	AAJCS7509J

Legal Form :	Private Limited Liability Company

Line of Business :	Trader of Steel Product, Coal, API Product, Fabric, Cotton, Textile etc. [Registered activity and also confirmed by management]

No. of Employees :	15 Approximately (In Office 13 + In Branch 2 )

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 :	Slow but correct

Litigation :	Clear

Comments :	SPG Multi Trade Private Limited was incorporated in the year 2006. It is a subsidiary of Krishnamani Holdings Private Limited, India. The company is a trader of steel product, coal, API product, fabric, cotton, textile etc. As per the financial of 2017, the company has achieved a satisfactory growth of 23.19% in its revenue as compared to the previous year’s revenue and has reported a low profitability margin of 0.40%. The company possesses healthy financial position marked by above average net worth base along with acceptable debt level and comfortable liquidity parameters. Furthermore, the subject’s customers (Greatweld Engineering Private Limited Shreem Electric Limited) have given positive feedback and are satisfied with the subject’s product quality and delivery behaviour. Suppliers (Esszee Manufacturing Private Limited and Kaushalya Suppliers Private Limited) have also given positive feedback and are satisfied with the subject’s payment behaviour. Business is active. Payments seems to be slow but correct. In view of aforesaid, 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

(30.09.2017)

Current Rating

(31.12.2017)

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

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 31-03-2016.

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 24.02.2018

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

Name :	Mr. Gaurav Satyanarayan Agrawal
Designation :	Director
Contact No.:	91-8793214715

LOCATIONS

Registered Office / Head Office:	Unit No 1207, B Wing, One BKC, Plot No C -66, Bandra Kurla Complex, Bandra East, Mumbai – 400051, Maharashtra, India
Tel. No.:	91-22-61340999/61340923/61340900
Mobile No.:	91-8793214715 (Mr. Gaurav Satyanarayan Agrawal) 91-9867755100 (Mr. Kuldeep)
Fax No.:	91-22-61340900
E-Mail :	jay.sanghvi@spg.net.in kuldeep@spg.net.in
Website :	http://www.spg.net.in
Area :	1000 Sq. ft.
Location :	Rented

Branch Office :	Shop No. 16, Manali Tower, Ground Floor, Plot No. 110, Sector – 8, Behind Oslo Cinema, Gandhidham, Kutch – 370201, Gujarat, India

Warehouse 1 :	B-13, Gala No.7, Ground Floor, Parasnath Complex, Anjurphata Road, Owali Village, Bhiwandi, Thane – 421302, Maharashtra, India

Warehouse 2 :	FTWZ Unit, Arshiya Intl. Limited, Free Trade and Warehousing Zone, Sai Village, Panvel, District Raigad – 410206, Maharashtra, India

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Madanlal Goyal

Designation :

Director

Address :

Prabha Cooperative Housing Society, Near Canara Bank, R B Mehta Marg, Ghatkopar (East), Mumbai – 400077, Maharashtra, India

Date of Birth/Age :

20.01.1947

Qualification:

B Com

Experience:

30 Years

Date of Appointment :

01.03.2007

DIN No.:

00456394

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L51900MH1985PLC036708	GANON TRADING AND FINANCE CO LTD	29/09/2012	-
U67120MP1995PLC023447	SPG MACROCOSM LIMITED	01/02/2009	-
U92412MH1994PTC298084	KRISHNAMANI HOLDINGS PVT. LTD.	28/08/2012	-
U70100MH2010PTC200592	SPG VENTURES PRIVATE LIMITED	05/03/2010	-
U99999MH2003PTC138703	GOODDEAL PROPERTIES PRIVATE LIMITED	14/07/2005	-
U67110MH2017PTC302974	SPG CREDITS PRIVATE LIMITED	15/12/2017	-

Name :

Mr. Hari Prasad Agrawal

Designation :

Director

Address :

408, Indrapuri Anish Heritage, F No. 203, Indore – 452025, Madhya Pradesh, India

Date of Birth/Age :

12.04.1966

Qualification:

B Com

Experience:

20 Years

Date of Appointment :

01.04.2009

DIN No.:

02476724

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U67120MP1995PLC023447	SPG MACROCOSM LIMITED	08/12/2003	-
U92412MH1994PTC298084	KRISHNAMANI HOLDINGS PVT. LTD.	01/11/2011	-
U51909WB2009PTC133485	PRATIK DISTRIBUTORS PRIVATE LIMITED	23/03/2009	-

Name :

Mr. Gaurav Satyanarayan Agrawal

Designation :

Director

Address :

A/P Bhavasar Gali, Chopda, Jalgaon -425107, Maharashtra, India

Date of Birth/Age :

01.12.1992

Qualification:

M Com

Experience:

24 Years

Date of Appointment :

09.05.2017

DIN No.:

07686574

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L51900MH1985PLC036708	GANON TRADING AND FINANCE CO LTD	29/06/2017	-
U67120MP1995PLC023447	SPG MACROCOSM LIMITED	24/09/2017	-
U92412MH1994PTC298084	KRISHNAMANI HOLDINGS PVT. LTD.	30/12/2017	-

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders		No. of Shares
Krishnamani Holdings Private Limited, India		1800000
Prince Madanlal Goyal		150000
Shaily Prince Goyal		49900
Ajay Agarwal		100
Total		2000000

Equity Share Break up (Percentage of Total Equity)

AS ON 18.09.2017

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	10.00
Promoters- Body corporate	90.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Steel Product, Coal, API Product, Fabric, Cotton, Textile etc. [Registered activity and also confirmed by management]

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Wholesale Trade in Metal Channel, Joist, M.S. Angle, MS Sheet, TMT Bar	46620
Wholesale of textiles, fabrics.	46610

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

API Product and Cotton (Active Pharma Ingredient )

Countries :

Dubai
United Kingdom
Hongkong
Bangladesh
Vietnam

Imports :

Products :

API Product and Cotton (Active Pharma Ingredient )

Countries :

Singapore

Terms :

Selling :

L/C, Cash and Credit (30,60,90 Days)

Purchasing :

L/C, Cash and Credit (30,60,90 Days)

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference :

Kaushalya Suppliers Private Limited

Address:

Shivanath Revenue Colony Road

Ganesh Nagar, Gondia - 441601, Maharashtra, India

Name of the Person :

Mr. Kinshuk Agrawal (Director)

Contact No.:

91-9702472999

Since How Long Known :

10 Years

Maximum Limit Dealt :

Experience :

Payment Behaviour	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark:

As claimed by Mr. Kinshuk Agrawal (Director) they confirmed that payment behavior, market goodwill is excellent and overall performance also excellent.

Reference :

Esszee Manufacturing Private Limited

Address:

Unit No.9, Corporate Park II, 9^th Floor, V.N. Purav Marg, Swastik Chambers, Chembur, Mumbai -400071, Maharashtra, India

Name of the Person :

Mr. Shivraj Gudi (Director)

Contact No.:

91-7208014500

Since How Long Known :

8 Years

Maximum Limit Dealt :

Experience :

Payment Behaviour	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark:

As claimed by Mr. Shivraj Gudi (Director) they confirmed that payment behavior, market goodwill is excellent and overall performance also excellent.

Customers :

Wholesalers

Reference :	Tej Commodities Private Limited
Address:	B/302 Goodwill Apartment Cooperative Hosuing Society Limited, Plot No.3 and 4, Sector 28, Nerul, Navi Mumbai – 400706, Maharashtra, India
Name of the Person :	Ms. Leena Singh
Contact No.:	91-9820322028

Reference :

Greatweld Engineering Private Limited

Name of the Person :

Mr. Chandrashekar Nande (Accounts Manager)

Contact No.:

91-9850996235

Since How Long Known :

10 Years

Maximum Limit Dealt :

Experience :

Product Quality	Delivery Behaviour	Overall
Good	Good	Good

Remark:

As claimed by Mr. Chandrashekar Nande (Accounts Manager) they confirmed that product quality, delivery behaviour is good and overall performance also good.

Reference :

Shreem Electric Limited

Address:

Plot No.43 to 46, Industrial Estate

Jaysingpur, Taluka Shirol, Districts Kolhapur, Maharashtra, India

Name of the Person :

Mr. Sachin Jagadale (Assistant Manager)

Contact No.:

91-7447406009

Since How Long Known :

2 Years

Maximum Limit Dealt :

Experience :

Product Quality	Delivery Behaviour	Overall
Excellent	Excellent	Excellent

Remark:

As claimed by Mr. Sachin Jagadale (Assistant Manager) they confirmed that product quality, delivery behaviour is excellent and overall performance also excellent.

No. of Employees :

15 Approximately (In Office 13 + In Branch 2 )

Bankers :

Banker Name :	IDBI Bank Limited
Branch :	Specialized Corporate Branch, Marigold House, Plot A 34, Ground Floor, Cross Road No. 2, MIDC, Andheri East, Mumbai – 400093, Maharashtra, India
Person Name (With Designation) :	--
Contact Number :	91-22-67582567 (Continuously ringing)
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Fund Base : INR 200.000 Million Non Fund Base : 500.000 Million
Account Operation :	--
Remark :	--

IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
SHORT TERM BORROWING
Working capital loans from banks Primary : First exclusive charge on the inventory and debts of the company both present and future	137.895	77.890
Loans repayable on demand	0.000	22.000
Total	137.895	99.890

Auditors :
Name :	G M Purohit and Company Chartered Accountants
Address :	212/2013, Tapo Commercial Center, Ram Mandir Road, Goregaon (West), Mumbai 400104 , Maharashtra, India
Tel. No.:	91-22-66959607
Fax No.:	91-22-66959608
E-Mail :	gmpurohitca@gmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AADPP8920F

Memberships :	Not Available

Collaborators :	Not Available

Holding company:	Krishnamani Holdings Private Limited, India [U92412MH1994PTC298084]

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Shivam Investment

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount

2000000	Equity Shares	INR 10/- each	INR 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

2000000	Equity Shares	INR 10/- each	INR 20.000 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	20.000	20.000	20.000
(b) Reserves and Surplus	107.325	81.623	54.838
(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)	127.325	101.623	74.838

(3) Non-Current Liabilities
(a) long-term borrowings	91.500	91.500	91.500
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	91.500	91.500	91.500

(4) Current Liabilities
(a) Short-term borrowings	137.895	99.890	53.106
(b) Trade payables	459.203	556.572	246.575
(c) Other current liabilities	2.838	1.666	8.637
(d) Short-term provisions	15.125	12.122	10.773
Total Current Liabilities (4)	615.061	670.250	319.091

TOTAL	833.886	863.373	485.429

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.319	0.572	0.597
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Tangible assets 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	0.001	0.001	0.001
(c) Deferred tax assets (net)	0.209	0.210	0.204
(d) Long-term loans and advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.025
Total Non-Current Assets	0.529	0.783	0.827

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	127.800	55.568	78.417
(c) Trade receivables	678.088	742.407	319.155
(d) Cash and bank balances	13.230	56.940	65.763
(e) Short-term loans and advances	14.239	7.675	21.267
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	833.357	862.590	484.602

TOTAL	833.886	863.373	485.429

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	6398.054	5193.704	4582.644
	Other Income	24.855	12.027	3.470
	TOTAL	6422.909	5205.731	4586.114

Less	EXPENSES
	Purchases of Stock-in-Trade	6389.866	5116.221	4567.383
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(72.231)	22.849	(29.642)
	Employee benefit expense	2.280	2.051	2.005
	Other expenses	10.349	8.657	4.744
	TOTAL	6330.264	5149.778	4544.490

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	92.645	55.953	41.624

Less	FINANCIAL EXPENSES	52.910	22.107	14.150

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	39.735	33.846	27.474

Less/ Add	DEPRECIATION/ AMORTISATION	0.253	0.272	0.328

	PROFIT/ (LOSS) BEFORE TAX	39.482	33.574	27.146

Less	TAX	13.780	11.099	10.466

	PROFIT/ (LOSS) AFTER TAX	25.702	22.475	16.680

	Earnings / (Loss) Per Share (INR)	12.85	11.24	8.34

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	17.921	21.710	58.597

Net cash flows from (used in) operating activities	4.141	10.611	48.095

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income 365 Days)*	38.68	52.17	25.42

Account Receivables Turnover (Income / Sundry Debtors)	9.44	7.00	14.36

Average Payment Days (Sundry Creditors / Purchases 365 Days)*	26.23	39.71	19.70

Inventory Turnover (Operating Income / Inventories)	0.72	1.01	0.53

Asset Turnover (Operating Income / Net Fixed Assets)	290.42	97.82	69.72

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	38.68	52.17	25.42

Debt Equity Ratio (Total Liability / Networth)	9.44	7.00	14.36

Current Liabilities to Networth (Current Liabilities / Net Worth)	26.23	39.71	19.70

Fixed Assets to Networth (Net Fixed Assets / Networth)	0.72	1.01	0.53

Interest Coverage Ratio (PBIT / Financial Charges)	290.42	97.82	69.72

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) 100)*	%	0.40	0.43	0.36

Return on Total Assets ((PAT / Total Assets) 100)*	%	3.08	2.60	3.44

Return on Investment (ROI) ((PAT / Networth) 100)*	%	20.19	22.12	22.29

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.35	1.29	1.52

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.15	1.20	1.27

G-Score Ratio Financial (Networth / Total Assets)	0.15	0.12	0.15

G-Score Ratio Debt (Debts / Equity Capital)	11.47	9.57	7.23

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.35	1.29	1.52

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	20.000	20.000	20.000
Reserves & Surplus	54.838	81.623	107.325
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	74.838	101.623	127.325

Long-term borrowings	91.500	91.500	91.500
Short term borrowings	53.106	99.890	137.895
Total borrowings	144.606	191.390	229.395
Debt/Equity ratio	1.932	1.883	1.802

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	4582.644	5193.704	6398.054
		13.334	23.189

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	4582.644	5193.704	6398.054
Profit/ (Loss)	16.680	22.475	25.702
	0.36 %	0.43 %	0.40 %

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	Yes
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	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 three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

CHANGE OF ADDRESS:

The Registered address of the company has been shifted from Prabha Co-operative Housing Society Limited, Flat No. 10, 2nd Floor, R.B. Mehta Marg, Ghatkopar (East), Mumbai-400077, Maharashtra, India w.e.f. 23.05.2016

BUSINESS PERFORMANCE

During the year the Company has earned a net profit of INR 25.702 Million as compared to INR 22.475 Million in previous year.

The operational revenue of the Company has increased to INR 6398.054 Million compared to INR. 5193.704 Million in previous year.

UNSECURED LOANS:

(INR In Million)

Particulars	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Fully convertible debentures others	91.500	91.500
Total	91.500	91.500

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	AMOUNT	ADDRESS
1	G15761760	10198604	IDBI BANK LIMITED	22/12/2009	15/07/2016	700000000.0	IDBI TOWER, WTC COMPLEXCUFFE PARADEMUMBAIMH400005IN

FIXED ASSETS:

Tangible assets

Vehicles
Office equipment
Computer equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	INR
US Dollar	1	INR 64.82
UK Pound	1	INR 90.40
Euro	1	INR 79.76

INFORMATION DETAILS

Information Gathered by :	SHL

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	YES
--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.