MIRA INFORM REPORT

Report No. :	507543
Report Date :	14.03.2018

IDENTIFICATION DETAILS

Name :	GOONJ
Registered Office :	J-93, First Floor, Sarita Vihar, New Delhi - 110076
Tel. No.:	91-11-26972351
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	1998
Trust Fund :	INR 308.489 Million
IEC No.: [Import-Export Code No.]	Not Divulged
TIN No.:	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
PAN No.: [Permanent Account No.]	AAATG5219M
Legal Form :	Non-Governmental Organization
Line of Business :	Subject Undertakes Disaster Relief, Humanitarian Aid and Community Development. [From Indirect Source]
No. of Employees :	74 [Approximately]

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Maximum Credit Limit :	USD 881000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a NGO founded by Mr. Anshu Gupta (Founder) in the year 1998. It undertakes disaster relief, humanitarian aid and community development. It is the first to highlight clothing as a basic but unaddressed need which deserves a place on the development agenda. Rating is constrained on account of subject’s continuous decline in donations and minimal membership fees. However, rating weakness is partially offset by rich experience of its member along with well-known NGO in India and healthy fund base. Payments seems to be slow but correct. In view of aforesaid, the subject can be considered for business dealings with some caution.

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 DECLINED BY

Name :	Mrs. Priyanka Tiwari Pandey
Designation :	Business Coordinator
Contact No.:	91-9818364455/ 9717863458
Date :	12.05.2018

LOCATIONS

Registered/ Head Office :	J-93, 1st Floor, Sarita Vihar, New Delhi – 110076, India
Tel. No.:	91-11-26972351/ 41401216
Mobile No.:	91-9818364455/ 9717863458 [Mrs. Priyanka Tiwari Pandey]
Fax No.:	Not Available
E-Mail :	mail@goonj.org
Website :	https://goonj.org
City Offices:	Located at: · Bangalore · Bihar · Delhi · Hyderabad · Kolkata · Mumbai · Rishikesh · Chennai
Dropping Centres :	Located at: · Delhi and NCR · Bangalore · Haryana · Jaipur · Jalandhar · Kolkata · Maharashtra · Mysore · Himachal Pradesh · Uttarakhand · Chandigarh · Chennai · Hyderabad · Mohali · Madhya Pradesh · Secunderabad · Ludhiana

MANAGEMENT

Name :	Mr. Anshu Gupta
Designation :	Founder and Chief Executive Officer
Name :	Mrs. Meenakshi Gupta
Designation :	Co-Founder
Name :	Mr. Ajay K Sharma
Designation :	Member and Secretary
Name :	Mr. Keshav Chaturvedi
Designation :	Member
Name :	Mrs. Mridula Murgai
Designation :	Member
Name :	Ms. Saloni Malhotra
Designation :	Member

BUSINESS DETAILS

Line of Business :	Subject Undertakes Disaster Relief, Humanitarian Aid and Community Development. [From Indirect Source]
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

74 [Approximately]

Bankers :

· HDFC Bank Limited

· Punjab and Sind Bank

· Yes Bank Limited

· ICICI Bank Limited

Auditors :
Name:	S Sahoo and Company Chartered Accountants
Address:	Accountants 107, Laxman Singh complex-I, Munirka, New Delhi - 110067, India
Memberships :	Not Divulged
Collaborators :	Not Divulged
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

AS ON 31.03.2017

Fund Balances	INR in Million
General Fund	304.903
Assets Fund	3.586
Total :	308.489

FINANCIAL ANALYSIS

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017	31.03.2016	31.03.2015
SOURCES FUNDS
Fund Balances
1] General Fund		304.903	356.413	323.597
2] Assets Fund		3.586	2.966	3.588
NETWORTH		308.489	359.379	327.185
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		308.489	359.379	327.185
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		52.843	52.851	25.087
Capital work-in-progress		1.181	0.047	0.043
INVESTMENT		182.696	283.904	269.834
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.222	0.288	0.329
	Cash & Bank Balances	61.279	15.314	15.311
	Other Current Assets	11.234	8.159	18.038
	Loans & Advances	4.173	3.546	1.611
Total Current Assets		76.908	27.307	35.289
Less : CURRENT LIABILITIES & PROVISIONS
	Unspent Grant	0.000	0.401	1.591
	Liabilities for expenses	5.139	4.329	1.477
Total Current Liabilities		5.139	4.730	3.068
Net Current Assets		71.769	22.577	32.221
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		308.489	359.379	327.185

PROFIT & LOSS ACCOUNT

Particulars	31.03.2017	31.03.2016	31.03.2015
INCOME
Grant	2.171	1.466	11.071
Donations	79.132	138.538	141.843
Interest income	20.840	27.486	22.544
Incidental income from environmental projects and misc.	5.036	5.217	3.320
Member fees	0.001	0.001	0.001
Deutsche bank-award money	0.000	0.000	3.048
Total	107.180	172.708	181.827
EXPENSES
Indian Section
Earmarked Donations	77.985	85.236	60.277
Goonj Programme	38.299	28.119	13.370
Loss on sale of vehicle	0.080	0.000	0.000
Donation refunded	0.184	0.000	0.000
Foreign Section
Earmarked Donations	17.696	18.363	25.839
Goonj Programme	18.484	7.307	4.904
Other Expenses EMC Software and Services	0.600	0.000	0.000
Hilton International Asia Pacific Pte. Limited	1.198	0.000	0.000
Depreciation	1.607	1.489	1.072
Less: Transferred to assets fund	0.478	0.622	0.762
Total	1.129	0.868	0.310
Total	155.656	139.892	104.701
Excess of income over expenditure	(48.475)	32.816	77.125

RECEIPT AND PAYMENT ACCOUNT

Particulars	31.03.2017	31.03.2016	31.03.2015
RECEIPTS
Opening balance
Cash in hand	0.256	0.255	0.146
Cash at bank
a) HDFC Bank	1.992	10.574	168.179
b) Punjab & SIND Bank	0.309	0.297	0.286
c) Yes, Bank	12.757	4.185	35.142
Grant	1.770	0.200	1.383
Donations	79.132	138.538	141.498
Interest income	1.376	4.041	11.528
Incidental income form environmental projects & misc.	5.029	5.193	3.292
Membership fees	0.001	0.001	0.001
Investment	97.301	1.655	0.000
Deutsche bank award money	0.000	0.000	3.048
Loans & advances (net)	17.518	16.109	0.000
Sale of vehicle	0.070	0.000	0.000
Total	217.511	181.048	364.503
INDIAN SECTION
Earmarked Donations	77.985	85.236	60.257
Goonj Programme	38.299	25.595	13.341
Donation refunded	0.184	0.000	0.000
FOREIGN SECTION’
EMC software and services	0.600	0.000	0.000
Hilton international Asia pacific pte. ltd	1.198	0.000	0.000
EARMARKED DONATIONS	17.696	18.363	25.839
GOONJ PROGRAMME	18.484	7.307	4.904
Loan and advances (Net)	0.000	0.000	2.353
Non-recurring capital expenditure	1.786	29.233	20.986
Investment	0.000	0.000	221.511
Cash in hand	0.385	0.256	0.255
Cash in bank
a) HDFC Bank	2.964	1.992	10.574
b) Punjab & SIND Bank	0.273	0.309	0.297
c) Yes, Bank	14.780	12.757	4.185
ICICI Bank	1.103	0.000	0.000
YES, bank (non FC section)	41.774	0.000	0.000
Total	217.511	181.048	364.503

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
General Fund	323.596	356.413	304.903
Assets Fund	3.588	2.967	3.586
Net worth	327.184	359.380	308.489
Secured Loans	0.000	0.000	0.000
Unsecured Loans	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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
Income	181.827	172.708	107.180
		(5.015)	(37.941)

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Income	181.827	172.708	107.180
Excess of income over expenditure	77.125	32.816	(48.475)
	42.42%	19.00%	(45.23%)

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	No
10	Date of Birth of Proprietor / Partners / Directors	No
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	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business [Trust Fund]	Yes
25	Last accounts filed at ROC, if applicable	No
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	No
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

WEBSITE DETAILS

COMPANY PROFILE

GOONJ provides clothes and other basic amenities. Goonj was founded in 1998. Goonj's headquarters is located in New Delhi, Delhi, IN 76. Goonj's Founder and CEO, Anshu Gupta, currently has an approval rating of 50%. Goonj's Founder & CEO, Anshu Gupta, currently has an approval rating of 50%. Goonj's primary competitors are Zonal Welfare CouncilChild In Need Institute (Cini)Parivaar. Goonj appears in these list: NGO/NPO/NFP Companies Non-Profit & Government Companies New Delhi Companies.

FOUNDER’S PROFILE

Anshu Gupta, popularly known as the Clothing Man is the Founder of an Indian based nonprofit – Goonj. One of India’s leading social entrepreneurs Anshu brings to the table an instinctive empathy and connect with people, moving the focus from the conventional - giver’s pride to the unconventional - receiver’s dignity. Asia’s Noble, the prestigious Ramon Magsaysay award 2015, conferred to him credited him for ‘his creative vision in transforming the culture of giving in India, his enterprising leadership in treating cloth as a sustainable development resource for the poor, and in reminding the world that true giving always respects and preserves human dignity’.

Anshu has done his Mass communications twice and his masters in Economics. Starting as a freelance journalist, he left a corporate job in 1998 and founded GOONJ with a mission to make clothing a matter of concern and to bring it among the list of subjects for the development sector. His mission was to address the most basic but ignored need of clothing and the multifaceted role it plays in villages across India.

Today Goonj is a pan India movement working equally widely in cities and villages, dealing with more than 3000 tons of material annually. Through its team, thousands of volunteers and grassroots partner organizations, Goonj reaches out urban underutilized material to far flung village communities to address their basic needs, using it as a resource to motivate them to address a plethora of development issues like education, sanitation, women’s health, water conservation, infrastructure etc. based on their varied needs. While Goonj matches the urban material with specific needs of local village communities, actual receiving of the material is tied to local communities working on specific local issues that are self-identified by them.

Goonj’s award winning initiatives; Cloth for Work (CFW), Not Just a Piece of Cloth (NJPC) and RAHAT focus on humanitarian aid, community development and disaster relief work across 22 states of India. This leads to over 2000 infrastructure activities across village India every year. In the cities, Goonj has a unique distinction of using anything and everything discarded; from a stapler pin to industrial generators and anything else in between, while Anshu has inculcated among the urban masses, a habit of mindful regular giving for a cause.

Anshu’s work goes to a core challenge of their times; the growing gap between the urban prosperity & rural poverty. He has taken the menacing growth of urban waste and used it effectively and efficiently as a tool to trigger large scale development work on diverse issues in some of the most backward and remote pockets of India. In the process he has created a model for a parallel economy which is not cash based but trash based. With Goonj, Anshu has brought attention to a nonmarket, nonmonetary approach — one grounded in empathy and dignity. He has made the mostly passive urban and rural masses, prime stakeholders and actors in addressing their own needs, solving their own problems. This has been done by weaving together a beautiful pipeline system from the cities to the villages for channelizing resources to create empowerment and development in rural India. He considers one of Goonj’s central work to changing mindsets about the immense humanitarian potential in reuse and demonstrating a model that delivers as promised.

Anshu has rewritten many rules of the development sector like making the masses his prime focus - not only as givers and receivers of material but also as the prime source of money, skills and services. In the macro picture Anshu has identified some basic needs outside the radar screen of the development sector and the civil society by structuring imaginative solutions using urban waste.

Over the years as Goonj garnered major awards, including World Bank’s Development Marketplace and NASA, Anshu also won recognition as an Ashoka and Schwab Fellow while he was also listed as one of India’s top social entrepreneurs by Forbes Magazine and Fast Company. He is also a member of Humanitarian Crisis Council of the World Economic Forum.

Anshu is now focused on ensuring that more people across the globe replicate Goonj’s idea and help bridge the massive gap of social and economic inequities between urban prosperity and rural poverty. He speaks on national and international forums to instigate urban and rural masses to be more deeply engaged in the issues faced by the society. He says, “Goonj doesn’t want to grow only as an organization; it wants to grow as an idea… where organizations and individuals across the world take up the work, learning from their experience and help reach the basics of life to people who need it urgently, mindful of their dignity and their needs, not as a charity.” Anshu is a foodie who loves photography, travel and writing. He lives in Delhi NCR with his wife Meenakshi also the Co-founder of Goonj and their teenage daughter, Urvi.

IMPACT & INNOVATION

· Annually deal with over 3000 tons of material.

· Annually initiates over 2500 development activitiesunder its flagship initiative'Cloth for work'(CFW): from repairing roads, recharging water ponds, building bamboo bridges to digging wells.

· Rural communities receive clothes & other material as reward for their labor.

· Some macro outcomes of this multi sectoral work; Long term impact on curbing migration, improved sanitation & health and enhancing economic activities etc.

· A systematic approach to large scale disaster relief & rehabilitation work with many innovative ideas.

· Income generation initiatives like Sujni, school bags making, Vapsi to bring back disaster hit local economy to normalcy.

· Turned massive disaster wastage into resource for development work. Right from Gujarat earthquake to Tsunami, Bihar floods (2008), Andhra floods, Uttarakhand floods, J&K floods, etc.

· Over 4.0 million sanitary pads produced out of waste cloth & reached to villages/slums as a viable solution & powerful tool to open up taboo subject of menses

· Using urban discard for rural income generation; Over 250 tons of throw away waste cloth converted into traditional mattress/quilt (Sujni) and aasans.

· Urban school material acts as incentive to get rural children to school. Enhance their learning experience, freeing up the meager resources of the parents for other pressing needs.

SYSTEMIC CHANGES

· GOONJ has built a culture of regular giving throughout the year.

· Goonj's work on menstrual hygiene awareness is opening up aspects of life usually thought too private or dangerous to talk about or make public.

· Freeing up of meager resources; affords value addition and economic development to the last person. A person's limited resources freed up to fulfill more critical needs of food or health etc.

· Constructively reviving and strengthening rural volunteerism, to solve its own problems, digging deep into the age old wisdom and knowledge base of the villages.

· Inculcating respectful giving attitude in urban communities.

COST EFFECTIVE

· Hard core on ground work across 22 states.

· Idea level advocacy.

· Communication, collection, all logistics, rigorous processing, need based dispatches to remote parts of the country.

· Valueadd to absolute waste un-wearable/unusable material, turning it into 'Green by Goonj' products.

· Preventing material from becoming an environmental disaster in landfills.

· Capacity building of hundreds of organizations and million of people.

· Building up a movement with large scale civic participation in urban and rural India

CHALLENGES

· Growing transport costs & rentals for storage space, people and admin.

· Better and bigger infrastructure

· Using technology across Goonj's urban and rural operations to make their work more efficient and effective.

· Lack of research on impact, knowledge, new ideas, innovative approaches in their work.

· Gaps in the supply of specific material like cotton cloth, saris, children clothing, school material, winter clothing & blankets etc.

· Sustained financial resources for work on ignored aspects.

THEIR ETHOS, BELIEFS, VALUES

· To grow as an idea, not just as an organization across different regions, economies and countries.

· To use material as a tool to bring ignored issues to light, to talk about basic needs.

· To bring communities together, to make them aware of their own power, to increase people's participation, to change mindsets.

· To improve upon the present rural infrastructure.

· To value potential instead of fixing targets.

· To turn the age old charitable act of giving old material into a development resource. We don't promote charity.

· To focus on the receiver's dignity instead of the donor's pride.

· They strongly believe that when people say they want to donate their used clothes- that it's actually discarding of something that has been used to the maximum.

· A strong belief in the wisdom of people they are working for; to find solutions to their own problems.

· As far as possible not to spend money on their own infrastructure, furniture etc. instead use old material- right from table, chairs and computers to office stationary.

· To make positive word of mouth spread as their biggest strength.

· Instead of trying to do everything on their own we use the strength of collaboration with various stake holders.

THEIR FOCUS

In the race of development we all are too focused on machines i.e. the big, known issues, ignoring the needles- the most important basic needs.

At GOONJ their focus is these needles.- With a large scale civic participation it is not only becoming a big people’s movement for developement but is also creating a parallel economy where every work doesn’t have to wait for money; huge quantities of old re-usable material becomes a valuable resource.Over the last decade a parallel economy which is not CASH based but TRASH based, is emerging.

GOONJ has reached parts of 22 states in partnership with over 250 grass-root organizations, Ashoka Fellows, social activists & social movements.

The action points

· Start a Goonj Ki Gullak

· Organise a Goonj Collection Camp in the residential area, school, college, corporate.

· Spread awareness about the idea in the own network of friends, family and work place.

· Lead a payroll giving initiative for GOONJ in the organization.

· Connect us to pro bono/subsidized space & transportation for Goonj in different cities/states.

· Become their technology partner to make their work more effective and efficient.

· Be our knowledge management partner.

· Join Goonj's Team 5000.

· Study/research on Goonj's work and impact and innovative ideas.

· Starting a Friends of Goonj chapter in the city.

· Contributing you export surplus, surplus inventory to Goonj.

RECOGNITIONS

· Feb'18 : AIMA (All India Management Association) Award to Anshu Gupta

· July'17: Curry- Stone Design Prize recognized Anshu Gupta, Founder Goonj as the Social Design Circle honoree

· July'15: CNBC TV18 Young Turks Change Agent awardto Anshu Gupta

· July'15: Ramon Magsaysay Award 2015 to Anshu Gupta

· Nov'14 : Deutsche Bank Urban Age Award

· Feb'14 : Listed by Fast Company among World's Top 10 Most Innovative Companies in India

· Nov'12 : 'Social Entrepreneur of the year award' by Schwab Foundation (sister concern of World Economic Forum) to Anshu Gupta.

· July'12: Recognized as'Game Changing Innovation' by NASA & US State Dept.

· June'12: GDN-Japanese Award for Most Innovative Development Project

· Feb'12 : Edelgive Social honor for Not Just a Piece of Cloth (NJPC) initiative

· Nov'10 : Anshu Gupta listed in Forbes as one of  India's most powerful rural entrepreneurs.

· May'10 : Nov'09: ‘Lien i3 Challenge Award’ for the initiative Cloth for Work (CFW) award by Marico

· March'10: June'09: Changemaker's Innovation Award for the initiative 'Not just a piece of cloth' for 'Fair Practices'

· March'09: CNN IBN's'Real Heros' award to Anshu Gupta

· March'08: 'India NGO of the year'award by Resource Alliance.

· May'07: GOONJ's NJPC initiative won World Bank's Global Development Market Place Award.

· 2006: Changemaker's Innovation Award, for Not just a piece of cloth(NJPC) initiative

· 2004: Ashoka Fellowship to Anshu Gupta

· 2004: GOONJ won Changemaker’s Innovation Award for its School to School (S2S) initiative.

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 :	SRY
Analysis Done by :	VIK
Report Prepared by :	ARC

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	NO
--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.