MIRA INFORM REPORT

Report Date :

05.08.2011

IDENTIFICATION DETAILS

Name :	RELIANCE BIG ENTERTAINMENT PRIVATE LIMITED (w.e.f. 24.10.2007)
Formerly Known As :	AAA INTERACTIVE MEDIA PRIVATE LIMITED
Registered Office :	3^rd Floor, Reliance Energy Center, Santacruz (East), Mumbai – 400055, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	21.03.2006
Com. Reg. No.:	11–160603
Capital Investment / Paid-up Capital :	Rs.1030.000 Millions
CIN No.: [Company Identification No.]	U72900MH2006PTC160603
TAN No.: [Tax Deduction & Collection Account No.]	MUMA27683F
PAN No.: [Permanent Account No.]	AAFCA6658L
Legal Form :	Private Limited Liability Company.
Line of Business :	Owner of Radio Channel Big 92.7 F.M.
No. of Employees :	Not Divulged by the Management.

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 44000000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is part of reliance Anil Dhirubhai Ambani group and is the owner of Radio Channel Big 92.7 FM. It is an established company having moderate track. Profitability of the company is under severe pressure. There appears huge accumulated losses recorded by the company. However, trade relations are reported as fair. Payments are reported to be slow. The company 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.

INFORMATION DECLINED BY

Name :	Mr. Pradeep Jaiswal
Designation :	Finance Controller
Contact No.:	91-9322430673
Date :	04.08.2011

LOCATIONS

Registered Office :	3^rd Floor, Reliance Energy Center, Santacruz (East), Mumbai – 400055, Maharashtra
Tel. No.:	91-22-30327974/ 30327200
Mobile No.:	91-9322430673 (Mr. Pradeep Jaiswal)
Fax No.:	91-22-30327599/ 30327191
E-Mail :	himanshu.g.agarwal@relainceada.com reliancebigentertainmentpl@gmail.com
Website :	http://www.rbe.co.in
Corporate Office :	49/50, Maruti Chambers, 6^th Floor, Veera Desai Extension Road. Off New Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India
Tel. No.:	91-22-30665111

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Hasit Navinchandra Shukla
Designation :	Director
Address :	Rel. (BSES) Quarters, 222 Saint Andrews Road, Pali Hill, Bandra (West), Mumbai – 400 050, Maharashtra, India
Date of Birth/Age :	28.08.1962
Date of Appointment :	21.03.2006
DIN or Income-tax PAN :	00004549
Name :	Mrs. Tina Anil Ambani
Designation :	Director
Address :	Seawind 39, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India
Date of Birth/Age :	11.02.1959
Date of Appointment :	21.03.2006
DIN or Income-tax PAN :	00297064
Name :	Mr. Surendra Kumar Pipara
Designation :	Director
Address :	1702, Raheja Classique Building 1, New Link Road, Andheri (West), Mumbai – 400 053, Maharashtra, India
Date of Birth/Age :	17.12.1963
Date of Appointment :	29.09.2007
DIN or Income-tax PAN :	00359036

KEY EXECUTIVES

Name :	Mr. Sanjay Kumar Dubey
Designation :	Company Secretary
Address :	Flat No. B-107, Sagar Sangam, Sector – 1, Koparkhairne, Navi Mumbai – 400709, Maharashtra, India
Date of Appointment :	02.01.2008
DIN or Income-tax PAN :	AEYPD7712E
Name :	Mr. Pradeep Jaiswal
Designation :	Finance Controller
Email :	Pradeep.jaiswal@relianceada.com

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares (Equity)
Anil D. Ambani Jointly with AAA Entertainment Private Limited, India	10
AAA Entertainment Private Limited, India	101999990
Total	102000000
Names of Shareholders	No. of Shares (Preference)
Reliance Capital Limited, India	10000000
Reliance Capital Limited, India Jointly with Reliance Land Private Limited, India and Surendra Pipara	7522100
AAA Entertainment Private Limited, India	1000000
Total	18522100

(AS ON 30.09.2010)

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Owner of Radio Channel Big 92.7 F.M.

GENERAL INFORMATION

No. of Employees :

Not Divulged by the Management.

Bankers :

· IDBI Bank Limited,

IDBI Tower WTC Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India.

· Yes Bank Limited,

9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India

· Indian Overseas Bank

763, Anna Salai Marg, Chennai – 600002, Tamilnadu, India

Facilities :

Secured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Loan from Banks
- Cash Credit	10.000	528.902
- Short term Loan	315.000	--
Total	325.000	528.902
Unsecured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
From Body Corporate	1110.900	1110.900
Security Deposits	7.450	10.761
Total	1118.350	1121.661
NOTE: In terms of the approval of the shareholders obtained at the Extraordinary General Meeting of the Company held on October 30, 2009, the Company has reclassified the Authorized Share Capital from Rs.1500.000 Millions (15,00,00,000 Equity Shares of Re.10/- each) to Rs.1500.000 Millions (14,00,110,000 Equity Shares of Rs.10/- each and 10,00,00,000 Preference Shares of Re.1/- each). All the above Equity Shares are held by the holding company Le. AAA Entertainment Private Limited and its nominees. 12% Non Cumulative Convertible Redeemable Preference Shores (NCCRPS) of Re.1/- each are redeemable at redemption price after 5 years from the date of allotment i.e. November 16, 2009. At the option of the holder of NCCRPS, the NCCRPS can be redeemed, at issue price, any time after the date of allotment by giving not less than 2 months advance notice to the Company. Loan from Banks - Credit facilities given above includes: a) Line of credit (LOC) facility secured by a first charge by way of hypothecation in favour of all movable properties, tangible or intangible pertaining to the films produced under LOC. b) Rs.1,00,00,000/- is payable within one year, c) Rs. Nil/- Interest accrued thereon. Loan from Banks –Short Term Loan given above Includes: a) Short Term loans referred above are secured by 10% cash margin of the amount drawn in the form of Placid Deposit under lien. b) Rs.315.000 Millions is payable within one year. c) Rs. Nil/-interest accrued thereon. In respect of Unsecured Loan Rs.1118.350 Millions payable within one year.

Banking Relations :	--
Auditors :
Name :	Pathak H. D. and Associates Chartered Accountant
Address :	709, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel No.:	91-22-30228508/ 3022850
Holding Company:	AAA Entertainment Private Limited, India (U64201MH2007PTC168608)
Ultimate Holding Company	· Reliance Innoventures Private Limited
Associates :	· Reliance BIG Entertainment (US) Inc. · Reliance BIG Entertainment Partners
Joint Venture :	· Magic Lantern Film Private Limited · Dremworks II Holding Company LLC
Subsidiaries :	· AAA Digital Imaging private Limited · AAA Infrastructure Solutions Private Limited · RCap Meditainment Ventures Private Limited · Talent House Entertainment Private Limited U51900MH2006PTC160588 · BIG Animation (India) Private Limited U92113KA2005PTC036818 · BIG Flicks Private Limited U92120MH2007PTC168172 · Jump Games Private Limited U74140MH2006PTC162872 · ND S Art World Private Limited U74999MH2002PTC138153 · Reliance Big Broadcasting Private Limited U65990MH2006PTC160747 · Reliance Big News Private Limited U65990MH2006PTC160642 · Reliance Entertainment Venture Private Limited U99999MH2000PTC128397 · Zapak Digital Entertainment Limited U99999MH2005PLC158036 · Reliance Big Entertainment (Singapore) Pte. Limited

CAPITAL STRUCTURE

AS ON 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
140000000	Equity Shares	Rs.10/- each	Rs.1400.000 Millions
100000000	Preference Shares	Rs.1/- each	Rs.100.000 Millions
	Total		Rs.1500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
102000000	Equity Shares	Rs.10/- each	Rs.1020.000 Millions
18522100	Preference Shares	Rs.1/- each	Rs.18.522 Millions
	Total		Rs.1038.522 Millions

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
140000000	Equity Shares	Rs.10/- each	Rs.1400.000 Millions
100000000	Preference Shares	Rs.1/- each	Rs.100.000 Millions
	Total		Rs.1500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
102000000	Equity Shares	Rs.10/- each	Rs.1020.000 Millions
10000000	Preference Shares (12% Non Cumulative Convertible Redeemable Preference Shares)	Rs.1/- each	Rs.10.000 Millions
	Total		Rs.1030.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		1030.000	1020.000	1000.000
2] Share Application Money		2889.100	0.000	0.000
3] Reserves & Surplus		11970.000	1980.000	0.000
4] (Accumulated Losses)		(4781.015)	(3086.290)	(323.896)
NETWORTH		11108.085	(86.290)	676.104
LOAN FUNDS
1] Secured Loans		325.000	528.902	0.000
2] Unsecured Loans		1118.350	1121.661	3097.763
TOTAL BORROWING		1443.350	1650.563	3097.763
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		12551.435	1564.273	3773.867
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		401.497	238.047	107.498
Capital work-in-progress		9.054	3.540	0.000
INVESTMENT		1442.935	1647.770	597.365
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5961.642	5019.017	1079.209
	Sundry Debtors	201.486	209.753	48.468
	Cash & Bank Balances	135.968	272.026	48.877
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	7505.757	7030.633	2134.465
Total Current Assets		13804.853	12531.429	3311.019
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	1422.569	2140.777
	Other Current Liabilities	1658.984	10561.737	216.721
	Provisions	25.351	154.000	25.294
Total Current Liabilities		3106.904	12856.514	242.015
Net Current Assets		10697.949	(325.084)	3069.004
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		12551.435	1564.273	3773.867

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		TOTAL (GROSS INCOME)	2594.168	1131.044
Less	EXPENSES
		TOTAL	4288.893	3884.438
	PROFIT/ (LOSS) BEFORE TAX		(1694.725)	(2753.393)
Less	TAX		0.000	9.000
	PROFIT/ (LOSS) AFTER TAX		(1694.725)	(2762.393)
	EARNINGS IN FOREIGN CURRENCY
		License Fees for Distribution of Films and Other Rights	7.629	20.515
	TOTAL EARNINGS		7.629	20.515
	IMPORTS
		Finished Goods- Digital Video Discs and Packaging Materials	7.435	29.804
	TOTAL IMPORTS		7.435	29.804
	Earnings Per Share (Rs.)		(16.61)	(27.09)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	(11.93)	(21.56)	NA
Return on Investment (ROI) (PBT/Networth)		(0.15)	31.91	NA
Debt Equity Ratio (Total Liability/Networth)		0.41	(168.12)	4.94
Current Ratio (Current Asset/Current Liability)		4.44	0.97	13.68

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS

Particulars	31.03.2010	31.03.2009	31.03.2008
	(Rs. In Millions)
Sundry Creditors
- Micro, Medium and Small	--	--	NA
- Subsidiary	36.929	1.608	NA
- Others	1385.640	2139.169	NA
Total	1422.569	2140.777	NA

CONTINGENT LIABILITIES

Particulars	31.03.2010	31.03.2009
	(Rs. In Millions)
Claims against the company not acknowledged as debts	--	--
Guarantees to Banks and financial institution on behalf of third parties	7959.600	--
Total	7959.600	--

OPERATIONS

The Company’s operations are divided mainly into six divisions — Reliance BIG Pictures, Reliance BIG Music, Reliance BIG Home Video, Big Adda, BIG Production, BIG Street

Reliance BIG Pictures produces acquires and distributes films. Reliance BIG Pictures has built a formidable Indian film production slate in Hindi and several other Indian languages and markets and distributes them worldwide. Apart from Indian films, Reliance BIG Pictures has also tied up with key talent in Hollywood for developing scripts and subsequently production of English films,

Reliance BIG Music has emerged as a dominant player in the Indian Music Industry. Apart from the traditional physical delivery platforms, Reliance BIG Music leverages digital platforms, such as the Internet, Mobile and Radio networks to sell and cross-promote its products and services across the globe.

Reliance BIG Home Video has gained its entry and stronghold in the robust Home Video Industry in India with the launch of titles in various local languages on DVD and VCD. The division is also the exclusive licensee of Universal Pictures International Entertainment in India, Sri Lanka and Mauritius.

BIGADDA is the largest and the fastest growing web and mobile Indian social networking site. BIGADDA enables networking based on Individuals (Friends and Friends of Friends) and Interests (self-expression by Create - Upload - Share of Videos, Photos, and Music.)

BIG Street is Company’s Out-of-Home initiative. In a very short span of time BIG Street has acquired media rights in several cities across the country. BIG Street markets these sites to various advertisers, advertising agencies and business retailers. Currently, BIG Street is strategically positioned in eight cities, spread across Delhi, Mumbai, Bangalore, Kolkata, Hyderabad, Ahmedabad, Chandigarh and Cochin.

BIG Production is Company’s TV content segment. It produces TV content in multi languages and multi geographies for TV channels like Star One, Star Pravah, ETV Gujarati, etc. It produces serials in all kinds of genres like drama, comedy, horror, etc.

The Company has entered into contracts in the areas of its business. While benefits from such contracts will accrue in the futures years, their progress is periodically reviewed.

SHARES CAPITAL

During the year, the Company has reclassified its Authorised Share Capital from Rs.1500.000 Millions divided into

15,00,00,000 Equity Shares of Rs.10/- each to Rs.1500.000 Millions divided into Rs.140.000 Millions Equity Shares of Rs.10/-each and 10,00,00,000 Preference Shares of Re.1/-each.

The paid up share capital of the Company has been increased from Rs.1020.000 Millions to Rs.1030.000 Millions upon allotment of 10,000,000 12% Non Cumulative Convertible Redeemable Preference Shares of Re.1/- each.

Further, during the year, the Company has Issued and allotted 8,450,600 12% Non Cumulative Convertible Redeemable Preference Shares of Re.1/- each.

Bankers Charges Report as per Registry

Corporate identity number of the company	U72900MH2006PTC160603
Name of the company	Reliance BIG Entertainment Private Limited
Address of the registered office or of the principal place of business in India of the company	3^rd Floor, Reliance Energy Center, Santacruz (East), Mumbai – 400 055, Maharashtra, India reliancebigentertainmentpl@gmail.com
This form is for	Creation of charge
Type of charge	Book Debts Movable property Others: Film Negative-Titled "BODYGUARD"
Particular of charge holder	Indian Overseas Bank 763 Anna Salai Marg, Ch – 600002, Tamilnadu, India
Email	iskonbr@mummsco.iobnet.co.in
Nature of description of the instrument creating or modifying the charge	Deed of Hypothecation executed by Reliance Big Entertainment Private Limited("the Borrower")in favour of Indian Overseas Bank("IOB"),a copy whereof is attached hereto for securing IOB's Rupee Term Loan of Rs.200.000 Millions
Date of instrument Creating the charge	07.06.2011
Amount secured by the charge	Rs.200.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base Rate+4.25% i.e. 14.25% per annum(at present) to payable monthly Terms of Repayment The Loan Shall be repaid by the Borrower on or before the release of the Film(BODYGUARD) but not later than 30th September,2011 Margin: 67.40% Extent and Operation of the charge Charge created under Deed of Hypothecation dated 7th June, 2011(DOH) shall operate as security by way of exclusive charge over movable assets pertaining to the Film, both present and future, more particularly mentioned in Schedule III of DOH for due repayment of the Loan, interest thereon and other money payable by the Borrower under the Term Loan Agreement dated 7th June, 2011(LA).
Short particulars of the property charged	All of the tangible and intangible assets of the Film ,including its physical properties relating to development, production, distribution, etc. of the Film, including positives, negatives, prints etc. General intangibles including copyrights, patents, trademark, trade name, etc.

FIXED ASSETS:

· Computers

· Office Equipment

· Furniture and Fixtures

· Vehicles

· Leasehold Improvements

WEBSITE DETAILS:

PROFILE:

Reliance Anil Dhirubhai Ambani Group:

India is a booming trillion dollar economy. An overwhelmingly young country, with more than 55% of its population i.e. over 550 million people below the age of 30. Steady GDP growth rate in excess of 7% has translated into rising income levels, complementing India’s ongoing economic revolution coupled with the energy, dynamism and ambition of its youth. India’s future will be propelled by strategic drivers such as the quality of its human capital, their access to cutting-edge technology, availability of hi-quality products and services at a lower cost and their will power to make India shine on the world map. The Reliance Anil Dhirubhai Ambani Group, strongly believes that it has a pivotal role to play, in shaping the destiny of the great nation. Through its various consumer facing businesses, the group provides a robust platform to every Indian to realize his potential and shape his / her destiny, through its state-of-the art products and services. The group, barely three years in the making, now ranks among India’s top 3 business houses with respect to key financial parameters. Its dominant presence across a wide array of high- growth consumer facing businesses, range from telecom and financial services to infrastructure, entertainment and healthcare.

Across different companies, the group positively influences the lives of over 100 million customers, or 1 in every 10 young and aspirational Indians every single day across 4.5 lakh villages and 20000 towns. It enjoys unparalleled trust, faith and confidence of nearly 12 million shareholders, the largest such family in India, perhaps even in the world. It is one of the largest employers in the country with a young, highly trained and motivated workforce approaching 100,000 strong. All this is focused towards achieving two goals. Building a great enterprise for its stakeholders and a great future for the country.

The Company:

India is standing on the threshold of an experience and entertainment economy. It is at the cross roads of an exciting phase that will shape its cultural and social framework forever. Subject has evolved out of the group’s vision of meeting young India's aspirations and assuming a leadership position in communications, media and entertainment. Subject is geared to create a significant presence in businesses across various vectors of content, internet, broadcast and retail services and platforms for distribution. The company strives to create converged services and platforms for masses to access innovative, cutting-edge content. Key content initiatives include production and strategic collaboration in areas such as gaming, movies, animation, music, broadcast, DTH and user-generated content, amongst others.

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	Indian Rupees
US Dollar	1	Rs.44.38
UK Pound	1	Rs.72.21
Euro	1	Rs.62.87

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--MARGINS	-5~5	--
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
TOTAL		26

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

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.