MIRA INFORM REPORT

Report No. :	496474
Report Date :	06.03.2018

IDENTIFICATION DETAILS

Name :	DYNAMIC CABLES LIMITED (w.e.f 22.08.2017)
Formerly Known As :	DYNAMIC CABLES PRIVATE LIMITED
Registered Office :	F-260, Road No. 13, Vishwakarma Industrial Area, Jaipur – 302013, Rajasthan
Tel. No.:	91-141-4042005 / 2262589
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	03.04.2007
Com. Reg. No.:	17-024139
Capital Investment / Paid-up Capital :	INR 100.000 Million
CIN No.: [Company Identification No.]	U31300RJ2007PLC024139
IEC No.:	1308000103
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCD5741Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of cables and conductors and importer of machinery. (Registered activity and also confirmed by management)
No. of Employees :	150 (Approximately)

ECGC Country Risk Classification List

Country Name	Previous Rating (31.03.2017)	Current Rating (30.06.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	Brickworks
Rating	Long term rating = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	18.08.2017

Rating Agency Name	Brickworks
Rating	Short term rating = A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	18.08.2017

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.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. M. L. Poddar
Designation :	Vice President (Finance)
Contact No.:	91-9001096011
Date :	26.09.2017

LOCATIONS

Registered Office / Factory 1 :	F-260, Road No. 13, Vishwakarma Industrial Area, Jaipur – 302013, Rajasthan, India
Tel. No.:	91-141-4042005/ 2262589
Mobile No.:	91-9001096020 (Mr. M. L. Poddar)
Fax No.:	91-141-2262589/2330182
E-Mail :	info@dynamiccables.com kadam@dynamiccables.co.in
Website :	www.dynamiccables.co.in
Location :	Owned
Locality :	Industrial
Factory 2 :	H-581 (A) - 592 (A), Road No.6, VKI Area, Jaipur – 302013, Rajasthan, India
Tel. No.:	91-141-2332388 / 2330766 /3214606
Factory 3 :	B-308, Road No.16, Vishwakarma Industrial Area, Jaipur – 302013, Rajasthan, India
Tel No.	91-141-3214603

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Ashish Mangal

Designation :

Managing Director

Address :

A-30, Subhash Nagar, Jaipur – 302016, Rajasthan, India

Date of Birth/Age :

22.12.1975

Date of Appointment :

22.07.2017

PAN No.:

ABYPM3246P

DIN No.:

00432213

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U27109RJ2008PTC026857	SHIV KRIPA PIPES PRIVATE LIMITED	30/09/2015	-
U29299RJ1972PTC001426	INDO KRATES PVT LTD	29/11/2002	-
U31102RJ2009PTC028629	DYNAMIC POWERTECH PRIVATE LIMITED	09/04/2009	-
U31300RJ2004PTC019265	DYNAMIC CABLES AND CONDUCTORS PRIVATE LIMITED	10/05/2004	-
U31300RJ2005PTC021009	MANGAL POWERTECH PRIVATE LIMITED	13/07/2005	-
U31909RJ2008PTC026255	MANGAL ELECTRICAL INDUSTRIES PRIVATE LIMITED	01/04/2008	-
U55101RJ2005PTC021327	KRISHAN KRIPA HOLIDAY RESORTS PRIVATE LIMITED	16/09/2005	-
U72900RJ2016PTC054961	RAMS CREATIVE TECHNOLOGIES PRIVATE LIMITED	17/05/2016	-

Name :

Shalu Mangal

Designation :

Whole Time Director

Address :

A-30, Subhash Nagar, Jaipur – 302016, Rajasthan, India

Date of Birth/Age :

02.04.1979

Date of Appointment :

22.07.2017

PAN No.:

ACBPG4969R

DIN No.:

00432482

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U29299RJ1972PTC001426	INDO KRATES PRIVATE LIMITED	29/11/2002	-
U31300RJ2007PLC024139	DYNAMIC CABLES LIMITED	22/07/2017	-

Name :

Mr. Rahul Mangal

Designation :

Director

Address :

A-30, Subhash Nagar, Jaipur – 302016, Rajasthan, India

Date of Birth/Age :

24.05.1972

Date of Appointment :

03.04.2007

PAN No.:

AAAPA1111A

DIN No.:

01591411

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U27109RJ2008PTC026857	SHIV KRIPA PIPES PRIVATE LIMITED	30/09/2015	-
U31102RJ2009PTC028629	DYNAMIC POWERTECH PRIVATE LIMITED	09/04/2009	-
U31300RJ2004PTC019265	DYNAMIC CABLES AND CONDUCTORS PRIVATE LIMITED	10/05/2004	-
U31300RJ2005PTC021009	MANGAL POWERTECH PRIVATE LIMITED	13/07/2005	-
U31909RJ2008PTC026255	MANGAL ELECTRICAL INDUSTRIES PRIVATE LIMITED	01/04/2008	-
U55101RJ2005PTC021327	KRISHAN KRIPA HOLIDAY RESORTS PRIVATE LIMITED	16/09/2005	-
U72900RJ2016PTC054961	RAMS CREATIVE TECHNOLOGIES PRIVATE LIMITED	17/05/2016	-

EY EXECUTIVES

Name :	Honey Chordia
Designation :	Company Secretary
Address :	2326, Chordia Bhawan, Behind Oriental Bank Of Commerce, Johari Bazar, Jaipur 302003, Rajasthan, India
Date of Appointment :	01.09.2017
PAN No.:	AVNPC1784H
Name :	Murari Lal Poddar
Designation :	Chief Finance Officer
Address :	63, Sanjay Nagar-B, Kalwad Road, Jhotwara, Jaipur -302012, Rajasthan, India
Date of Appointment :	22.08.2017
PAN No.:	ACPPP3706P
Name :	Mr. M. L. Poddar
Designation :	Vice President

MAJOR SHAREHOLDERS

AS ON 31.03.2016

Names of Shareholders	No. of Shares	% of Holding
Rahul Mangal	3530000	35.30
Ashish Mangal	238000	2.38
Saroj Mangal	2200000	22.00
Meenakshi Mangal	4015000	40.15
Shalu Mangal	15000	0.15
Ashish Mangal HUF	2000	0.02
Total	10000000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2016

Category	Percentage
Promoters (Individual/Hindu Undivided Family – Indian)	99.98
Public/Other than promoters (Individual/Hindu Undivided Family – Indian)	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of cables and conductors and importer of machinery. (Registered activity and also confirmed by management)

Products :

Description of product or service category	ITC Code
Cables	85446090
Conductor	76149000

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

· Finished Goods

Countries :

· Gulf Countries

· African Countries

Imports :

Products :

Raw material

Countries :

· Malaysia

· Japan

Terms :

Selling :

L/C, Cheque, Others (RTGS, NEFT)

Purchasing :

L/C, Cheque, Others (RTGS, NEFT)

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

Others (Corporates, Electricity Boards)

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

No. of Employees :

150 (Approximately)

Bankers :

Banker Name :	Bank of Baroda
Branch :	VKI Area Branch, Jaipur - 302017, Rajasthan, India
Person Name (With Designation) :	--
Contact Number :	91-141-2330648 (Ringing)
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 :	--

Facilities :

SECURED LOANS	31.03.2016 INR In Million	31.03.2015 INR In Million
Long Term Borrowings
Rupee term loans from banks (Secured by equitable mortgage of factory land and buildings, first charge on immovable and movable assets of the company and guaranteed by Sh. Ashish Mangal and Sh. Rahul Mangal, directors of the company)	79.489	79.489
Other loans and advances	1.416	1.191
Short Term Borrowings
Working capital loans from banks (Secured by equitable mortage of factory land&building firtst carg on immovable and movable asset of the company and guranted by sh.ashish mangal ,sh.rahul)	602.46	218.184
Borrowing from government semi-government bodies	10.755	13.984
Total	694.120	312.848

Auditors :
Name :	H. C. Bothra and Associates Chartered Accountants
Address :	Gulab Niwas, M. I. Road, Jaipur, Rajasthan, India
PAN No.:	AABFH6064L
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Indocrates Private Limited Dynamic Metals Mangal Electrical Ind. Private Limited Shiv Kripa Pipes Private Limited
Other related party:	Ashish Mangal (HUF)

CAPITAL STRUCTURE

AS ON 30.09.2016

Authorised Capital: INR 230.000 Million

Issued, Subscribed & Paid-up Capital: INR 161.700 Million

AS ON 30.09.2016

Authorised Capital:

No. of Shares	Type	Value	Amount
10000000	Equity Shares	INR 10/- each	INR 100.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
10000000	Equity Shares	INR 10/- each	INR 100.000 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	100.000	100.000	100.000
(b) Reserves & Surplus	173.154	104.768	79.192
(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)	273.154	204.768	179.192
(3) Non-Current Liabilities
(a) Long-term borrowings	297.366	248.135	277.282
(b) Deferred tax liabilities (Net)	0.960	2.325	4.005
(c) Other long term liabilities	1.200	2.334	2.334
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	299.526	252.794	283.621
(4) Current Liabilities
(a) Short term borrowings	613.215	232.168	125.549
(b) Trade payables	362.244	574.815	384.541
(c) Other current liabilities	65.989	67.353	54.041
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	1041.448	874.336	564.131
TOTAL	1614.128	1331.898	1026.944
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	189.947	181.607	191.604
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	4.690	3.306	2.724
(e) Other Non-current assets	0.246	0.246	0.246
Total Non-Current Assets	194.883	185.159	194.574
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	471.343	273.697	192.557
(c) Trade receivables	729.024	611.940	469.376
(d) Cash and cash equivalents	117.799	207.205	99.284
(e) Short-term loans and advances	62.609	51.105	65.840
(f) Other current assets	38.470	2.792	5.313
Total Current Assets	1419.245	1146.739	832.370
TOTAL	1614.128	1331.898	1026.944

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2016	31.03.2015	31.03.2014
	SALES
		Income	2678.747	2603.890	1974.116
		Other Income	11.335	8.375	8.732
		TOTAL	2690.082	2612.265	1982.848
Less	EXPENSES
		Cost of Materials Consumed	2259.922	2342.754	1718.875
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(16.235)	(17.499)	21.134
		Employee benefit expense	54.557	40.946	34.000
		Other expenses	174.467	143.129	115.088
		Prior period items before tax	0.000	0.081	0.000
		TOTAL	2472.711	2509.411	1889.097
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		217.371	102.854	93.751
Less	FINANCIAL EXPENSES		97.076	44.696	55.726
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		120.295	58.158	38.025
Less	DEPRECIATION/ AMORTISATION		19.847	21.186	16.429
	PROFIT/(LOSS) BEFORE TAX		100.448	36.972	21.596
Less	TAX		32.062	11.084	5.748
	PROFIT/(LOSS) AFTER TAX		68.386	25.888	15.848
	EARNINGS IN FOREIGN CURRENCY		37.700	0.000	165.018
	IMPORTS - RAW MATERIALS		2268.692	2307.489	98.118
	Earnings Per Share (INR)		6.84	2.59	1.58

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	23.785	24.739	28.791
Net cash flows from (used in) operations	(391.903)	99.437	82.174
Net cash flows from (used in) operating activities	(393.037)	86.646	76.096

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	99.34	85.78	86.78
Account Receivables Turnover (Income / Sundry Debtors)	3.67	4.26	4.21
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	58.51	89.56	81.66
Inventory Turnover (Operating Income / Inventories)	0.46	0.38	0.49
Asset Turnover (Operating Income / Net Fixed Assets)	1.14	0.57	0.49

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.84	0.86	0.85
Debt Equity Ratio (Total Liability / Networth)	3.42	2.47	2.41
Current Liabilities to Networth (Current Liabilities / Net Worth)	3.81	4.27	3.15
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.70	0.89	1.07
Interest Coverage Ratio (PBIT / Financial Charges)	2.24	2.30	1.68

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin ((PAT / Sales) * 100)	%	2.55	0.99	0.80
Return on Total Assets ((PAT / Total Assets) * 100)	%	4.24	1.94	1.54
Return on Investment (ROI) ((PAT / Networth) * 100)	%	25.04	12.64	8.84

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	1.36	1.31	1.48
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.91	1.00	1.13
G-Score Ratio Financial (Networth / Total Assets)	0.17	0.15	0.17
G-Score Ratio Debt (Debts / Equity Capital)	9.34	5.05	4.32
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.36	1.31	1.48

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	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	100.000	100.000	100.000
Reserves & Surplus	79.192	104.768	173.154
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	179.192	204.768	273.154
long-term borrowings	277.282	248.135	297.366
Short term borrowings	125.549	232.168	613.215
Current maturities of long-term debts	28.791	24.739	23.785
Total borrowings	431.622	505.042	934.366
Debt/Equity ratio	2.409	2.466	3.421

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	1974.116	2603.890	2678.747
	0.000	31.902	2.875

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	1974.116	2603.890	2678.747
Profit	15.848	25.888	68.386
	0.80%	0.99%	2.55%

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	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)	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%	--
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	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

BRIEF DESCRIPTION OF THE COMPANY'S WORKING:

The company is manufacturer of cables and conductors which is supplied to state electricity boards and private parties. Due to improved scenario in power sector, the company achieved better turnover and profit after tax as compared to previous year. The company is seeing continue improvement business scenario and expecting better turnover and profitability for current financial year 2016-2017.

UNSECURED LOANS:

Particulars	31.03.2016 INR In Million	31.03.2015 INR In Million
Long Term Borrowings
Loans and advances from related parties	128.294	76.516
Other loans and advances	88.167	91.039
Total	216.461	167.555

INDEX OF CHARGE:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G34864389	100075371	SIDBI	25/01/2017	-	-	187000000.0	FIRST FLOOR, LIC BUILDING II, LIC COMPLEXAMBEDKAR CIRCLE, BHAWANI SINGH ROAD JAIPUR 302005 RAJASTHAN INDIA
2	G34865253	100075372	SIDBI	25/01/2017	-	-	13000000.0	FIRST FLOOR, LIC BUILDING II, LIC COMPLEXAMBEDKAR CIRCLE, BHAWANI SINGH ROAD JAIPUR 302005 RAJASTHAN INDIA
3	C74324088	10609813	Bank of Baroda	22/12/2015	-	-	1200000.0	SPECIALISED SME BRANCH,ROAD NO. 5 VKI AREA BRANCH JAIPUR 302017 RAJASTHAN INDIA
4	C70709639	10603625	bank of baroda	06/11/2015	-	-	600000.0	SPECIALISED SME BRANCHROAD NO. 5, VKI AREA BRANCH JAIPURR-302017 RAJASTHAN INDIA
5	C67832451	10598064	Aditya Birla Housing Finance Limited	30/09/2015	-	-	60000000.0	INDIAN RAYON COMPOUND,VERAVAL--362266, GUJARAT, INDIA
6	C03928207	10490718	ADITYA BIRLA FINANCE LIMITED	11/02/2014	-	-	75000000.0	INDIAN RAYON COMPOUND,VERAVAL--362266, GUJARAT, INDIA
7	G15330517	10109750	BANK OF BARODA	25/06/2008	04/10/2016	-	1169500000.0	SPECIALIZED SME BRANCH ROAD NO-5, VKI AREA JAIPUR-302013 RAJASTHAN INDIA
8	G51632016	10559280	Bank of Baroda	21/03/2015	-	16/08/2017	40000000.0	SPECIALISED SME BRANCH, ROAD NO. 5VKI AREA BRANCH JAIPUR-302017 RAJASTHAN INDIA
9	G51631851	10119356	Bank of Baroda	23/06/2008	-	16/08/2017	80000000.0	V K I AREA BRANCH JAIPURRJ302013 RAJASTHAN INDIA
10	G51632156	10119357	Bank of Baroda	23/06/2008	-	16/08/2017	205000000.0	V K I AREA BRANCH JAIPUR-302013 RAJASTHAN INDIA

FIXED ASSETS:

· Land

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

· Other 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 64.96
UK Pound	1	INR 88.31
Euro	1	INR 77.76

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	SHW
Report Prepared by :	RKI

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