REVISED REPORT

 

1. Summary Information

 

 

Country

India

Company Name

THE NATIONAL CENTRE FOR ANTARCTIC AND OCEAN RESEARCH

Principal Name 1

Dr. Shailesh Nayak

Status

Satisfactory

Principal Name 2

Prof. U. R. Rao

 

 

Registration #

--

Street Address

Headland Sada, Vasco Da Gama, Goa – 403804, Maharashtra.

Established Date

25.05.1998

SIC Code

--

Telephone#

91-832-2525544 / 2525600 / 2525601

Business Style 1

Research and Development Institution

Fax #

91-832-2520877

Business Style 2

--

Homepage

http://www.ncaor.org

http://www.ncaor.nic.in

Product Name 1

--

# of employees

100 (Approximately)

Product Name 2

--

Paid up capital

--

Product Name 3

--

Shareholders

--

Banking

State bank of India

Public Limited Corp.

NO

Business Period

30 Years

IPO

NO

International Ins.

--

Public Enterprise

NO

Rating

Ba (46)

Related Company

Relation

Country

Company Name

CEO

Note

-

 

2. Summary Financial Statement

Balance Sheet as of

31.03.2010

(Unit: Indian Rs.)

Assets

Liabilities

Current Assets

--

Current Liabilities

--

Inventories

--

Long-term Liabilities

--

Fixed Assets

--

Other Liabilities

--

Deferred Assets

--

Total Liabilities

--

Invest& other Assets

--

Retained Earnings

--

 

 

Net Worth

 

Total Assets

--

Total Liab. & Equity

--

 Total Assets

(Previous Year)

--

 

 

P/L Statement as of

31.03.2010

(Unit: Indian Rs.)

Sales

1,000,000,000

Net Profit

--

Sales(Previous yr)

1,000,000,000

Net Profit(Prev.yr)

 

 

MIRA INFORM REPORT

 

 

 

 

Report Date :

19.02.2011

 

IDENTIFICATION DETAILS

 

Name :

THE NATIONAL CENTRE FOR ANTARCTIC AND OCEAN RESEARCH

 

 

Registered Office :

Headland Sada, Vasco Da Gama, Goa – 403804, Maharashtra.

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Year of Establishment :

25.05.1998

 

 

Legal Form :

Government own Organization

 

 

Line of Business :

Research and Development Institution

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Undetermined

 

 

Litigation :

Clear

 

 

Comments :

Subject is a Research and Development Centre engaged in scientific research in Antarctica. It is an established institution managed by Government of India.

 

The Institute can be considered normal 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 – April 1, 2010

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION PARTED BY

 

Name :

Mr. Laxman

Designation :

Accontant

Contact No.:

91-832-2525544

Date :

28.01.2011

 

 

LOCATIONS

 

Registered Office :

Headland Sada, Vasco Da Gama, Goa – 403804, Maharashtra, India

Tel. No.:

91-832-2525544 / 2525600 / 2525601

Fax No.:

91-832-2520877

E-Mail :

info@ncaor.org

director@ncaor.org

Website :

http://www.ncaor.org

http://www.ncaor.nic.in

Location :

Owned

 

 

Committee Member

 

Governing Council :

 

 

 

Name :

Dr. Shailesh Nayak

Designation :

Secretary, MoES, Chairman

 

 

Name :

Prof. U. R. Rao

Designation :

Member, Space Commission, Co-Chairman

 

 

Name :

Mrs. Vilasinin Ramchandran

Designation :

AS and FA, MoES, Member

 

 

Name :

Shri. D. P. Singh

Designation :

Jt. Secretary (Admin), MoES, Member

 

 

Name :

Dr. V.P. Dimri

Designation :

Director, NIO, Member

 

 

Name :

Dr. N.C. Mehrotra

Designation :

Director, BSIP, Member

 

 

Name :

Prof. A.K. Kashyap

Designation :

Department of Botany, BHU, Member

 

 

Name :

Dr. R.R. Navalgund

Designation :

Director, SAC, Member

 

 

Name :

Dr. D. Bhrdwaj

Designation :

Jt. Advisor (SandT), Planning Commission, Member

 

 

Name :

Commodore S.K. Thakur

Designation :

Jt. Director, DRDO, ember

 

 

Name :

Shri Rasik Ravindra

Designation :

Director, NCAOR, Member Secretary

 

 

Research Advisory Committee

 

 

 

Name :

Prof. U.R. Rao

Designation :

Member, Space Commission, Chairman

 

 

Name :

Prof. B. N. Goswami

Designation :

Director, IITM, Member

 

 

Name :

Prof. S. Krishnaswami

Designation :

Emeritus Scientist, PRL, Member

 

 

Name :

Prof. S. Sengupta

Designation :

Jadavpur University, Member

 

 

Name :

Dr. S. Shivaji

Designation :

Dy Director, CCMB, Member

 

 

Name :

Shri Rasik Ravindra

Designation :

Director, NCAOR, Member Secretary

 

 

Finance Committee

 

 

 

Name :

Mrs. Vilasinin Ramchandran

Designation :

AS and FA, MoES, Chiarperson

 

 

Name :

Shri. D. P. Singh

Designation :

Jt. Secretary (Admin), MoES, Member

 

 

Name :

Dr. N. Khare

Designation :

Programme Officier, MoES, Member

 

 

Name :

Shri Rasik Ravindra

Designation :

Director, NCAOR, Member

 

 

Name :

Dr. S. Rajan

Designation :

Scientist, NCAOR, Member Secretary

 

 

Sagar Kanya / EEZ :

Dr. Anil Kumar

 

Dr. Ravi Mishra

 

Dr. Babula Jena

 

Mr. Abhishek Tyagi

 

Mr. Ratheesh R.

 

Mr. Avinash Kumar

 

Mr. Vineesh T.C.

 

Dr. M.V. Ramesh

 

Ms. Surthi K.V.

 

 

Antarctic Science :

Dr. Rahul Mohan

 

Dr. S.M. Singh

 

Anoop Kumar Tiwari

 

K.P. Krishnan

 

Pawan Govil

 

Abhijit Mazumder

 

 

Southern Ocean Studies ;

Dr. Manish Tiwari

 

 

CLCS :

Dr. S. Rajan

 

Dr. Dhananjai Kumar Pandey

 

Dr. John Kurian

 

Gireesh Raghavan Nair

 

Ms. Ashlesha Saxena

 

Dwijesh Ray

 

 

Ice Core Laboratory :

Dr. Thamban Meloth

 

Laluraj C. M.

 

 

Polar Remote Sensing :

Dr. Alvarinho J. Luis

 

Dr. Shailesh Pednekar

 

Nuncio Murukesh

 

 

Information Communication Technology Division :

Mirza Javed Beg

 

Lalit Kumar Ahirwar

 

Dr. Shailendra Saini

 

 

KEY EXECUTIVES

 

Name :

Mr. Laxman

Designation :

Accountant

 

 

BUSINESS DETAILS

 

Line of Business :

Research and Development Institution

 

 

Exports :

 

Products :

Research Data

Countries :

South African Countries

 

 

Terms :

 

Selling :

Cash / Credit (30 days / 60 days)

 

 

Purchasing :

Cash / Credit (30 days)

 

 

GENERAL INFORMATION

 

Customers :

Individual / Corporate Government

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

State Bank of India

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Ganesh and Ganesh Company

Chartered Accountant

Address :

Vasco Da Gama, Goa, Maharashtra, India

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Not Divulged

Borrowed :

Not Divulged

Total :

--

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

31.03.2010

31.03.2009

Sales Turnover

 

1000.000

1000.000

 

 

 

 

 

Expected Sales ( 2010-2011 ) : Rs. 1000.000 million

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

NATIONAL CENTRE FOR ANTARCTIC AND OCEAN RESEARCH

 

  • The National Centre for Antarctic and Ocean Research (NCAOR) was established as an autonomous R and D Institution of the Department of Ocean Development (now known as Ministry of Earth Sciences, Government of India) on the 25th May 1998. 
  • With a mission mandate that is quite challenging, the Centre is designated as the nodal organisation for the co-ordination and implementation of the Indian Antarctic Programme, including the maintenance of India's permanent station in Antarctica.
  • Spread across 147,660 sq. mts sprawling area, set atop a picturesque plateau, NCAOR is located in India’s most seafaring state of Goa.
  • At NCAOR the scientific mandate is multidisciplinary. Operating in a complex matrix, which has as its focal theme, research in those areas of the polar science currently not being undertaken by any other institution in India.
  • In a rapid stride, not only have the basic infrastructure and computing facilities been established, but also true scientific recognition earned. The Universities of Goa and Mangalore have recognized NCAOR as a research centre for the pursuit of doctoral research.
  • India’s commitment to continue research in Antarctica and also to preserve the pristine environment was given a concrete shape with the establishment of the first polar and RandD lab at NCAOR. For the first time in the country, a low temperature laboratory complex at –25o C has been established for the preservation and analysis of ice core and snow samples, not only from Antarctica but also from Himalayas. In addition, an ultra clean laboratory has been established to study the ice samples in a pristine environment. 
  • The jewel in the NCAOR’s scientific crown is the upkeep of the year round Indian station in Antarctica, ‘Maitri’. Maitri was established in 1989 and allows Indian scientists to conduct critical studies across all areas of polar research. This is a modern station that has comfortable living accommodation, a well-equipped library and a state of the art laboratory and communication system.
  • Another important mandate given to NCAOR is the management of Oceanic Research Vessel (ORV) Sagar Kanya – a multidisciplinary Oceanographic Research Vessel dedicated to the survey and exploration of high seas. Commissioned in 1983, Sagar Kanya has been the flagship of the country for multi-agency oceanographic studies in Arabian Sea, Bay of Bengal and Indian Ocean. The vessel has contributed extensively for understanding the seas around the Indian sub-continent during the last seventeen years. 
  • NCAOR research is forever dedicated to adding global value, by extending the frontiers of science. This has found a multifaceted expression, through participation in global experiments, hosting of international conferences and in the leadership of international committees concerned with this endeavor.
  • Undertake, aid, promote, guide and co-ordinate scientific research in the fields of polar science and Southern Ocean Oceanography.
  • Serve as a nodal agency responsible for the overall coordination and implementation of the Indian Antarctic and Arctic Programmes.
  • Establish and maintain research base in Antarctica and Arctic and provide all operational and logistic support.
  • Encourage multi-disciplinary and multi-institutional research both at National and International levels, especially in the frontier areas of science, which are emerging and have potential applications.
  • Devise, formulate and initiate programs, which will create knowledge base for future commercial and thematic interests of India in Antarctica, Arctic and the Southern Ocean.
  • Effectively interact and liaise with SCAR, COMNAP, ATS, CEP and other international bodies in order to keep the Indian Antarctic Program abreast with international developments and to ensure a perceptible presence of India in the global frame work of nations in Antarctica.
  • Extend a singular research laboratory setup with such facilities which are of specialized nature or otherwise not easily accessible.
  • Develop predictive models for dynamic processes controlled and driven by Antarctica and the surrounding oceans.
  • Co-ordinate, address and monitor all environmental issues in Antarctica arising out of the Environmental Protocol.
  • Develop a complete database inventory and repository (National Antarctic Data Centre) for Antarctic and Arctic Science and logistics including a polar museum and a library.
  • Provide a fertile platform to generate specialized human resource capabilities for polar science and logistics through training, fellowships, awards, workshops, publications, and exchange of scientists etc., both at national and international levels.
  • Cruise planning and management of the oceanographic research vessels engaged by the Ministry of Earth Sciences and the NCAOR.
  • Take up other scientific and technological projects of the Ministry of Earth Sciences when entrusted.

 

From the Director's Desk

 

 

Science is the principal human activity in Antarctica. The importance of Antarctica as a pedestal for conducting front-ranking scientific research was recognized by India way back in 1981, when the first Indian Antarctic Expedition was launched. Since then, India has made great strides both in polar science and logistics, through a judicious and harmonious blend of multi-institutional expertise brought together by the Department of Ocean Development. 

 

This has paved way to a sustained scientific program mounted from the year round Indian stations ‘Dakshin Gangotri’ (1983-89) and ‘Maitri’ (1989 - till date).


The infrastructure available at Antarctica has enabled the Indian scientists to conduct cutting edge experiments in various disciplines such as Atmospheric Sciences and Meteorology; Earth Sciences and Glaciology; Human Biology and Medicine; Biology and Environmental Sciences and Engineering and Communication. Some of these scientific experiments have contributed directly to global initiatives mounted by the Scientific Committee on Antarctic Research (SCAR) and some have been executed through active bilateral co-operation with different Antarctic Treaty nations like Germany, Italy, France, USA etc.

 

The Indian Antarctic Program has constantly evolved over the years, which has helped the country to play a perceptible and meaningful role in the affairs of the icy continent through the Antarctic Treaty System and its subsidiary bodies.

 

In order to consolidate the gains accrued from the Antarctic Expeditions and to stimulate research in the frontier areas of polar science, the National Centre for Antarctic and Ocean Research (NCAOR), (formerly Antarctic Study Centre, ASC) was established as an autonomous institution of the Department of Ocean Development on the 25th May 1998. 

 

The institute has a focused scientific mandate of undertaking research in those areas of polar science, which are otherwise not being pursued by any institution or laboratory in the country. The scientific infrastructure and expertise are currently in the areas of palaeoclimatology and palaeoenvironmental studies, sea-ice-atmosphere interaction, climate modeling through polar remote sensing and oceanography of the Southern oceans.

 

Another important mandate given to NCAOR is to manage the departmental research vessel ‘ORV Sagar Kanya’ for which an Ocean Survey and Services Group (OSSG) has been set up.

 

The handful of young and energetic scientists working with me are taking these challenges in their stride to pave way as they move forward to establish themselves as a singular laboratory in the country at the beginning of a new millenium. In this journey of ours, they are being ably guided by the Secretary, Dr. P. S. Goel, who has been the source of inspiration and drive for all of them. The NCAOR is also immensely benefiting from the direction it is receiving from the members of its Governing Council.

 

Continental Shelf Beyond EEZ

 

 

United Nation Convention on the Law Of the Sea (UNCLOS)

 

Adopted on 30th  April 1982 and entered into force on the 16th November 1994 with the requisite 60 ratifications, the convention is in essence a legal, scientific and technical instrument that attempts to provide for the first time, a comprehensive framework of governance of the world oceans.  UNCLOS includes provisions for establishing various maritime zones of a coastal state such as the Territorial Sea, the Exclusive Economic Zone (EEZ) of 200M and the Outer Limits of the Continental Shelf beyond 200M  

 

The Continental Shelf and Article 76

 

The continental shelf of a coastal state comprises of the seabed and the subsoil of the submarine areas that extend beyond its territorial sea throughout the natural prolongation of its land territory to the outer edge of the continental margin (comprising the physiographic shelf, slope and rise), or to a distance of 200M from the baselines from which the breadth of the territorial sea is measured, where the outer edge of the continental margin does not extend up to that distance

 

Article 76 of UNCLOS defines the scientific and technical criteria for the delineation of the continental shelf by a coastal state where the outer edge of its continental margin extends beyond 200 nautical miles.  The delineation of the continental shelf has important implications for a coastal nation in terms of ensuring international recognition of sovereign rights and jurisdiction in the marine realm over a substantial area beyond the limits of the Exclusive Economic Zone.

 

What do they need for defining Continental Shelf ?

   

  • Demonstration of the natural prolongation of the shelf beyond 200M
  • Mapping the 2500 metre isobath
  • Data for the Baselines from where distances to be measured
  • Precise identification of the foot of the continental slope
  • Information on the sediment thickness beyond the foot of the slope

 

The maximum limit of a claim as per the provisions of article 76 cannot exceed 350M from the territorial sea baseline or 100M from the 2500 metre isobath.  Within these limits, the outer edge of the continental shelf can be extended up to 60M beyond the foot of the continental slope or to where the sediment thickness is at least 1% of the shortest distance to the foot of the slope.  More details on the article 76 can be found at the URL  http://www.un.org/Depts/los/index.htm

 

Indian Continental Shelf Program

The Indian Continental Shelf Program being implemented by the National Centre for Antarctic and Ocean Research (NCAOR), Goa, on behalf of the Department of Ocean development (DOD) is a multi-institutional national endeavor that seeks to gather the requisite scientific and technical data to define and substantiate the country's extended shelf claims.  Underpinning the Centre's efforts is a comprehensive work program comprising multichannel seismic reflection, refraction, gravity and magnetic data acquisition within and beyond the Indian EEZ

 

Desktop Study

Considering the scope of the Project, a comprehensive desktop study was undertaken. The first step was to identify the data sources available as well as the type of data needed to be collected.  The study was also directed towards an assessment of the technical expertise available in the country with a view to maximize the geo-scientific outcomes from the Project. Also, a broad scientific community is involved to ensure that all programme objectives are addressed during the data collection and subsequent analyses.

 

All available scientific literature and data pertaining to the Indian offshore were compiled in the form of an online bibliographic database.  A suite of software was also developed in-house to monitor the progress of data acquisition, inventorying the data generated and facilitating an  easy  search and retrieval of the data for a  specific  task       

 

 

Onboard and inhouse data processing and interpretation centre

 

Most of the vessels used were equipped with modern data processing facilities. The post-processing of data, its interpretation, synthesis, documentation and related scientific support for the programme are being provided by a core group of Indian scientists from several front-ranking national institutes and organizations

 

 To archive and retrieve the enormous amounts of data generated and being generated in various media such as tapes  and CDs as well as analog, a state-of-the-art Data Centre has been established at NCAOR

 

Based on the desktop study, a comprehensive data acquisition programme designed to maximize and sustain India's legal continental shelf claim was chalked out.  Considering the exhaustive and valuable geophysical data sought to be gathered, the work programme was designed in such a way that the data gathered will not only help substantiate India's shelf claims but will also cater to the country's geoscientific research endeavors in the ocean realm.  Specialized seismic vessels with state-of-the-art geophysical instrumentation were deployed for the data acquisition program.         

 

Participating Organizations

 

  • Directorate General of Hydrocarbons, Delhi
  • Geological Survey of India, Kolkata
  • National Geophysical Research Institute, Hyderabad
  • National Institute of Oceanography, Goa
  • Naval Hydrographic Office, Dehradun
  • Oil and Natural Gas Corporation, Dehradun

 

Co-ordinated by:

 

National Centre for Antarctic and Ocean Research, Goa, India

 

Indian Polar Research Vessel – Contract for Consultancy Services awarded to Grintex India Ltd and Skipsteknisk AS

 

National Centre for Antarctic & Ocean Research (NCAOR), India has appointed the Consortium of Skipsteknisk AS, Norway and Grintex India Ltd., as their consultant for the project of building a new state-of- the-art Polar Research vessel. Through the contract Skipsteknisk and Grintex will work closely together with NCAOR to develop the design as well as assisting NCAOR in the management of the project both throughout the design- and building phase.  The shipbuilding contract will be subject for World-wide tendering in 2011.

 

The Indian company of the consortium M/s Grintex India Limited is an Indian ship design company with long back-ground within Naval design, with its head-office in Delhi. The Norwegian company M/s Skipsteknisk AS has long experience in designing research vessels within fishery-, oceanographic- and seismic research, both with and without ice-class.  The new Indian Polar Research vessel will be a landmark project both for Skipsteknisk and Grintex. 

 

The proposed Polar Research Vessel (PRV) is intended to be used mainly for scientific expeditions to Polar Regions for India’s annual expeditions and shall be used in the tropical seas during the rest of the period.  PRV shall be a platform for research and logistic support required for oceanographic and polar scientific fraternity. The vessel will have current generation of polar logistics support and ocean research.

 

 

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. 45.18

UK Pound

1

Rs. 73.04

Euro

1

Rs. 61.43

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

-

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

Yes

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

46

 

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.