MIRA INFORM REPORT

Report No. :	508326
Report Date :	14.05.2018

IDENTIFICATION DETAILS

Name :	GALA INFRASTRUCTURE PRIVATE LIMITED
Registered Office :	Gala Group, Gala HQ, A-1, 9th Floor, Safal Profitaire, Corporate Road, Off. S. G. Road, Opposite Auda Garden, Near Prahaladnagar Garden, Ahmedabad – 380015, Gujarat
Tel. No.:	91-79-30710000
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	18.12.2007
Com. Reg. No.:	04-052377
Capital Investment / Paid-up Capital :	INR 61.250 Million
CIN No.: [Company Identification No.]	U45201GJ2007PTC052377
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	24AADCG0020C1ZN
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCG0020C
Legal Form :	Private Limited Liability Company
Line of Business :	Construction Activity. [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 500000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2007 having satisfactory track. For the financial year ended 2017, the company has witnessed a growth in its revenue and has achieved good profit margin at 45.65% (Approx.). The company possesses sound financial profile marked by healthy net worth base along with fair debt level of the company. However, the rating strength is partially offset by highly competitive real estate business. Trade relations are reported as fair. Business is active. Payment terms are seems to be slow but correct. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

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

EXTERNAL AGENCY RATING

NOT AVAILABLE

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2018.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 14.05.2018

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 BY

Name :	Mr. Ashish
Designation :	Accounts Department
Contact No.:	91-79-30710000
Date :	10.05.2018

LOCATIONS

Registered Office / Corporate Office:	Gala Group, Gala HQ, A-1, 9th Floor, Safal Profitaire, Corporate Road, Off. S. G. Road, Opposite Auda Garden, Near Prahaladnagar Garden, Ahmedabad – 380015, Gujarat, India
Tel. No.:	91-79-30710000
Fax No.:	Not Available
E-Mail :	ashishshah@galainfra.com gala.mumbai@galainfra.com perfection@galainfra.com
Website:	http://galainfra.com
Mumbai Office:	Gala Group, Udhyog Nagar, Plot No. 17-A, Flank Road, Near Sanmukhananda Hall, Sion (East), Mumbai- 400022, Maharashtra, India

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Shantilal Ramji Gala

Designation :

Director

Address :

Sandeep Bunglow, Udyan Marg, Law Garden, Ellisbridge, Ahmedabad -380006, Gujarat, India

Date of Appointment :

13.09.2013

DIN No.:

00091405

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U22190GJ1984PTC006776	NEMI LANDMARKS PRIVATE LIMITED	24/09/2015	-

Name :

Mr. Pragnesh Pravin Shah

Designation :

Director

Address :

Flat No. 19, 5th Floor, Auroville C. H. S. Jain Derasar Marg, Opposite Jain Temple, Santacruz (West), Mumbai -400054, Maharashtra, India

Date of Birth/Age :

15.07.1964

Date of Appointment :

16.06.2008

DIN No.:

00091558

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U22190GJ1984PTC006776	NEMI LANDMARKS PRIVATE LIMITED	01/01/1992	-
U27200MH1974PTC017671	PRECISION PHOTOFABRICATORS PRIVATE LIMITED	07/07/2003	-
U22122MH1983PTC030752	NAVVIKAS TRADING PVT LTD	10/04/2006	-
U32109MH1985PTC037798	PRATUL ELECTRONICS PRIVATE LIMITED	07/07/2003	-
U67120MH1991PTC060624	ACCORD HOLDINGS PRIVATE LIMITED	18/01/2000	-
U65900MH1991PTC060625	QUALIS HOLDINGS PRIVATE LIMITED	05/04/2005	-
U65990MH1991PTC060626	CORSA HOLDINGS PRIVATE LIMITED	05/04/2005	-
U30003MH1995PTC085264	NAVNEET STATIONERS PRIVATE LIMITED	02/07/1998	-

Name :

Mr. Ketan Bipinbhai Gala

Designation :

Director

Address :

19/20th Floor, Lakheni, K.M.Munshi Marg, Chowpatty, Mumbai -400007, Maharashtra, India

Date of Appointment :

13.09.2013

DIN No.:

00093604

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27200MH1974PTC017671	PRECISION PHOTOFABRICATORS PRIVATE LIMITED	30/09/2017	-
U32109MH1985PTC037798	PRATUL ELECTRONICS PRIVATE LIMITED	30/09/2015	-
U70102MH2007PTC168710	ACCURA SERENITY INFRA PRIVATE LIMITED	28/05/2013	-
U63010MH2008PTC177303	BIGSPACE LOGISTICS PARK PRIVATE LIMITED	30/09/2015	-
U45400MH2008PTC179041	LAKHENI DEVELOPERS & INFRA-LOGISTICS PRIVATE LIMITED	30/09/2015	-
U45400MH2008PTC183215	SWAYAM DEVELOPERS & LOGISTICS PRIVATE LIMITED	14/02/2015	-
U45202MH2008PTC183353	BHUDEV DEVELOPERS & LOGISTICS PRIVATE LIMITED	25/03/2013	-
U45400MH2008PTC183354	SAMPOORNA REALTORS & LOGISTICS PRIVATELIMITED	30/09/2015	-
U71220MH2009PTC197579	WMI REAL ESTATE DEVELOPERS PRIVATE LIMITED	09/08/2014	-
U45209MH2013PTC247855	ASHFORD ESTATES PRIVATE LIMITED	04/09/2013	-

Name :

Mr. Kalpesh Harakhchand Gala

Designation :

Director

Address :

26, Basant Bahar,Umiya Mata Mandir, Bopal, Ahmedabad - 380058, Gujarat, India

Date of Appointment :

13.09.2013

DIN No.:

00093731

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U22190GJ1984PTC006776	NEMI LANDMARKS PRIVATE LIMITED	24/09/2014	-
U36991GJ1993PTC018973	GALA LANDMARKS PRIVATE LIMITED	27/09/2014	-
U72300MH1994PTC080326	THE FLAGSHIP ADVERTISING PRIVATE LIMITED	29/05/2013	-
U30003MH1995PTC085264	NAVNEET STATIONERS PRIVATE LIMITED	02/07/1998	-
U22110DL1998PTC094399	INDIANNICA LEARNING PRIVATE LIMITED	05/07/2017	-

Name :

Mr. Kamlesh Bhupendra Trivedi

Designation :

Director

Address :

29/A,Bhavna Society Gitamandir Road, Jamalpur Zone, Ahmedabad -380022, Gujarat, India

Date of Birth/Age :

27.09.1956

Date of Appointment :

18.12.2007

DIN No.:

00347454

PAN No.:

AAIPT4653J

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U22190GJ1984PTC006776	NEMI LANDMARKS PRIVATE LIMITED	16/06/2007	-
U36991GJ1993PTC018973	GALA LANDMARKS PRIVATE LIMITED	01/04/2006	-
U67120MH1991PTC060624	ACCORD HOLDINGS PRIVATE LIMITED	29/08/2009	-
U45201GJ2007PTC052377	GALA INFRASTRUCTURE PRIVATE LIMITED	18/12/2007	-
U31900GJ2007PTC051968	GALA PROJECTS PRIVATE LIMITED	30/09/2008	-
U45400MH2008PTC183354	SAMPOORNA REALTORS & LOGISTICS PRIVATELIMITED	18/01/2010	-
U45201GJ2010PTC059471	ARSHI CONSTRUCTION PRIVATE LIMITED	12/10/2010	-

Name :

Mr. Narendra Bansidhar Maheshwari

Designation :

Director

Address :

F-204 Sumadhur - II Apartment Behind Azad Society, Ambawadi Ahmedabad 380015, Gujarat, India

Date of Appointment :

18.12.2007

DIN No.:

00526602

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U36991GJ1993PTC018973	GALA LANDMARKS PRIVATE LIMITED	01/07/2000	-
U31900GJ2007PTC051968	GALA PROJECTS PRIVATE LIMITED	30/09/2008	-
U45201GJ2010PTC059471	ARSHI CONSTRUCTION PRIVATE LIMITED	12/10/2010	-

Name :

Mr. Bipin Amarchand Gala

Designation :

Director

Address :

Lakheni, 19th Floor, K M Munshi Marg, Chowpatti Mumbai -400007, Maharashtra, India

Date of Appointment :

13.09.2013

DIN No.:

00846625

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L22200MH1984PLC034055	NAVNEET EDUCATION LIMITED	06/08/2013	-
U70102MH2007PTC176624	BIGSPACE REALTY PRIVATE LIMITED	30/01/2008	-
U22219MH2008PTC177882	LAKHENI PUBLICATIONS PRIVATE LIMITED	17/01/2008	-
U45202MH2008PTC183353	BHUDEV DEVELOPERS & LOGISTICS PRIVATE LIMITED	16/08/2013	-

Name :

Mr. Raju Harakhchand Gala

Designation :

Director

Address :

Bungalow No 23, Basant Bahar Part – I, Near Sterling Club Bopal, Ahmedabad -380058, Gujarat, India

Date of Appointment :

13.09.2013

DIN No.:

02096613

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L22200MH1984PLC034055	NAVNEET EDUCATION LIMITED	06/08/2013	-
U72200MH2008PTC181531	ESENSE LEARNING PRIVATE LIMITED	01/11/2015	-

KEY EXECUTIVES

Name :	Payal Jayantilal Modi
Designation :	Company Secretary
Date of Appointment :	01.06.2016
PAN No.:	AMUPM7859D
Name :	Mr. Ashish
Designation :	Accounts Department

MAJOR SHAREHOLDERS

AS ON 31.03.2017

SHAREHOLDING DETAIL FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2017

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	81.63
Promoters- Body corporate	18.37
Total	100.00

BUSINESS DETAILS

Line of Business :

Construction Activity. [Registered Activity]

Products / Services :

Name and Description of main products / services	ITC Code of the Product/service
Construction of Residential Complex	99531110

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 :	Corporation Bank
Branch :	Pimpri-Chinchwad Branch, Raka Chambers, Chinchwad Station, Midc Telco Road, Chinchwad, Pune - 411019, Maharashtra, 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 :	--

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
SHORT TERM BORROWING
Loans repayable on demand from banks	53.236	77.186
Total	53.236	77.186

Auditors :
Name :	Nitin K. Shah and Company Chartered Accountants
Address :	36-38, 3rd Floor, Empire Tower, Near Associated Petrol Pump, C.G.Road, Ahmedabad – 380006, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	APFPS2781G
Memberships :	Not Available
Collaborators :	Not Available
Enterprise owned or significantly influenced by key management personnel or their relatives:	Shaan Realtors Private Limited Arshi Construction LLP Navneet Stationers Private Limited Gala Landmarks Private Limited Sunshine Urban infra LLP Nemi Landmarks Private Limited Gala Builders

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
13000000	Equity Shares	INR 10/- each	INR 130.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6125000	Equity Shares	INR 10/- each	INR 61.250 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	61.250	61.250	61.250
(b) Reserves and Surplus	112.152	57.854	57.823
(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)	173.402	119.104	119.073
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short-term borrowings	295.334	571.384	618.632
(b) Trade payables	0.440	0.243	2.951
(c) Other current liabilities	10.759	6.947	29.760
(d) Short-term provisions	1.615	0.214	0.155
Total Current Liabilities (4)	308.148	578.788	651.498
TOTAL	481.550	697.892	770.571
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.472	0.639	0.916
(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	0.074	0.074	8.053
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	10.789	36.533	36.341
(e) Other Non-current assets	0.000	0.000	0.047
Total Non-Current Assets	11.335	37.246	45.357
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	411.477	570.655	578.960
(c) Trade receivables	4.087	5.041	20.227
(d) Cash and bank balances	40.012	15.043	54.969
(e) Short-term loans and advances	14.639	69.907	71.058
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	470.215	660.646	725.214
TOTAL	481.550	697.892	770.571

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	118.940	63.056	208.524
	Other Income	133.734	0.029	0.787
	TOTAL	252.674	63.085	209.311
Less	EXPENSES
	Cost of Materials Consumed	25.256	54.162	274.570
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	159.178	8.305	(40.707)
	Other expenses	0.115	0.310	0.220
	TOTAL	184.549	62.777	234.083
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	68.125	0.308	(24.772)
Less	FINANCIAL EXPENSES	0.000	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	68.125	0.308	(24.772)
Less/ Add	DEPRECIATION/ AMORTISATION	0.167	0.277	0.582
	PROFIT/ (LOSS) BEFORE TAX	67.958	0.031	(25.354)
Less	TAX	13.660	0.000	0.068
	PROFIT/ (LOSS) AFTER TAX	54.298	0.031	(25.422)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	48.306	48.275	73.697
	Balance Carried to the B/S	102.604	48.306	48.275
	Earnings / (Loss) Per Share (INR)	8.87	0.01	(4.15)

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	247.908	(0.466)	87.157
Net cash flows from (used in) operating activities	247.908	(0.466)	87.089

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	12.54	29.18	35.41
Account Receivables Turnover (Income / Sundry Debtors)	29.10	12.51	10.31
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	6.36	1.64	3.92
Inventory Turnover (Operating Income / Inventories)	0.17	0.00	(0.04)
Asset Turnover (Operating Income / Net Fixed Assets)	144.33	0.48	(27.04)

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.64	0.83	0.85
Debt Equity Ratio (Total Liability / Networth)	1.70	4.80	5.20
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.78	4.86	5.47
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00	0.01	0.01
Interest Coverage Ratio (PBIT / Financial Charges)	0.00	0.00	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	45.65	0.05	(12.19)
Return on Total Assets ((PAT / Total Assets) * 100)	%	11.28	0.00	(3.30)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	31.31	0.03	(21.35)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.53	1.14	1.11
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.19	0.16	0.22
G-Score Ratio Financial (Networth / Total Assets)	0.36	0.17	0.15
G-Score Ratio Debt (Debts / Equity Capital)	4.82	9.33	10.10
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.53	1.14	1.11

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	61.250	61.250	61.250
Reserves & Surplus	57.823	57.854	112.152
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	119.073	119.104	173.402
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	618.632	571.384	295.334
Total borrowings	618.632	571.384	295.334
Debt/Equity ratio	5.195	4.797	1.703

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	208.524	63.056	118.940
		(69.761)	88.626

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	208.524	63.056	118.940
Profit/ (Loss)	(25.422)	0.031	54.298
	(12.19 %)	0.05 %	45.65 %

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	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 others	242.098	494.198
Total	242.098	494.198

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G09499013	10451588	CORPORATION BANK	18/09/2013	30/05/2016	100000000.0	PIMPRI-CHINCHWAD BRANCH, RAKA CHAMBERS,CHINCHWAD STATION, MIDC TELCO ROAD, CHINCHWAD,PUNEMH411019IN

FIXED ASSETS:

Tangible assets

• Plant and equipment
• Furniture and fixtures
• 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 67.22
UK Pound	1	INR 90.88
Euro	1	INR 80.09

INFORMATION DETAILS

Information Gathered by :	SHL
Analysis Done by :	DIV
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.