MIRA INFORM REPORT

Report Date :

23.07.2011

IDENTIFICATION DETAILS

Name :	JPMORGAN CHASE & CO.
Registered Office :	Corporation Trust Center 1209 Orange Street Wilmington, De 19801
Country :	United State
Financials (as on) :	31.03.2011
Date of Incorporation :	28.10.1968
Legal Form :	Corporation for Profit
Line of Business :	Provides various financial services worldwide.

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 3,000,000
Status :	Good
Payment Behaviour :	Usually Correct
Litigation :	Clear

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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
United States	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GEOPOLITICS - UNITED STATES
POLITICAL DATA	ECONOMIC DATA
Form of Government: Federal Economic Risk: Nil	Currency: USD Branch Situation: Medium

IDENTIFICATION
Address in the order:	Global Trade Services, 300 South River Side Plaza, 2nd Floor, Chicago IL 60606
Comments on data supplied:	The address given by the client is a mailing address for the GLOBAL TRADE SERVICES department of the bank. The correct legal an operative addresses are listed below.
Legal Name:	JPMORGAN CHASE & CO.
Legal Address	CORPORATION TRUST CENTER 1209 ORANGE STREET WILMINGTON, DE 19801, USA 19801 USA
Operative Address	270 Park Avenue New York, NY 10017 United States
Telephone:	212-270-6000	File Number :	0691011
Fax:	212-270-1648	Legal Form:	Corporation for Profit
Email:	kristin.lemkau@jpmorgan.com	Registered in:	Delaware
Website:	http://www.jpmorganchase.com	Date Created:	NA
Manager:	Crandall C.Bowles Chairman	Date Incorporated:	Oncoteber 28 1968
Staff:	239,831	Stock:	3,983,509,889 shares
		Value:	$144,824,681,723
Activity:	Provides various financial services worldwide.

BANKS
Name of the Bank	Wells Fargo Bank National
BUSINESS
HISTORY
	JPMorgan Chase & Co. is one of the oldest, largest and best-known financial institutions in the world. The firm's legacy dates back to 1799 when its earliest predecessor was chartered in New York City. It is headquartered in New York, New York. JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries.
PRINCIPAL ACTIVITY
	The firm is a leader in: Investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.
Products/Services description:
	Asset Management Commercial Banking Investment Bank Private Banking Securities Services Treasury Services
Operations area:
	National
Trade References:
	Despite our searches we were not able to find any company's trade references.
The subject employs 239,831 employee(s)
PAYMENTS
	regular
Comments on location:
	One of the largest financial services firms in the US, it has more than 5,100 bank branches in a couple dozen states is active in some 60 countries. Is hearquartered in New York.

Shareholders - Manager - Related Companies
Capital:
	% of Shares Held by All Insider and 5% Owners: 0% % of Shares Held by Institutional & Mutual Fund Owners: 74% % of Float Held by Institutional & Mutual Fund Owners: 74% Number of Institutions Holding Shares: 1581 (JPM:New York)
Shareholders Parent Company(ies):
	Major Direct Holders Holder Shares Reported DIMON JAMES WINTERS WILLIAM T SCHARF CHARLES W DREW INA R BRAUNSTEIN DOUGLAS L
Management:
	Crandall C. Bowles Chairman Stephen B. Burke Chief Executive Officer David M. Cote Chairman and CEO James S. Crown President James Dimon Chairman of the Board and CEO
Related Companies:
	JPMorgan Chase & Co. has many subsidiaries, You will find enclosed the list of them.

Financials - COMMERCIAL TRENDS AND FORECAST

The subject is a public company traded at the stock exchange. Please find enclosed the financial statements.

Legal Fillings

There are many UCC** files listed with the Secretary of State of New York.

Filing Number: 110614-1102191

Filing Date: 06-14-2011

Secured Party: DEW, JAMES CHAPPELL JR

Filing Number: 117273230056

Filing Date: 06-08-2011

Secured Party: MS JULIA RODRIGUEZ

Debtor: JPMORGAN CHASE & CO

Debtor Address: 270 PARK AVE

NEW YORK NY 10017- 2014

Filing Number: 117273265943

Filing Date: 06-08-2011

Secured Party: MR RENE CHAIDEZ

Debtor: JP MORGAN CHASE & CO

Debtor Address: 270 PARK AVE

NEW YORK NY 10017- 2014

Filing Number: 110601-1241365

Filing Date: 06-01-2011

Secured Party: DEW, JAMES CHAPPELL JR

Debtor: JPMORGAN CHASE & CO INC

Debtor Address: 270 PARK AVE FL 38TH

There are various claims, lawsuits, and pending actions against the Company and its subsidiaries incident to the operations of its businesses. It is the opinion of management, after consultation with counsel, that the ultimate resolution of such claims, lawsuits and pending actions will not have a material adverse effect on the Company\'s consolidated financial position, results of operations or liquidity.

The last annual report was filed on 2010.

THE COMPANY IS NOT LISTED ON THE OFAC LIST.*

For information:

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

** The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

It allows a creditor to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

The Uniform Commercial Code Bureau files and maintains records on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

Rating
Local credit bureau gave a good credit rate. The company is in Good Standing. This means that all local and federal taxes were paid on due date.
Final Opinion
	This company is a global company that has been in business for over 200 years. It has a staff of 200,000 employees at group level which makes it a large sized company. The incomes for year 2010 increased from year 2009 This company has good credit history and good financial structure. Due to the fact that this is a large sized company with several subsidiaries worldwide, and considering the fact that the revenue for the year increased : A credit line may be considered for USD 3,000,000. Some attention is nevertheless suggested on the debt on the long run.

SUMMARY
FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public	YES
Indebtedness	MEDIUM	Payments	REGULAR
Cash	NORMAL

List of subsidiaries

	Organized under
Name	the laws of
Banc One Building Management Corporation	Wisconsin
Banc One Capital Holdings LLC	Delaware
BOCP Holdings Corporation	Ohio
Banc One Capital Partners IV, Ltd.	Ohio
BOCF, LLC	Delaware
JPM Mezzanine Capital, LLC	Delaware
Chase Investment Services Corp.	Delaware
Banc One Financial LLC	Delaware
JPMorgan Capital Corporation	Delaware
First Chicago Capital Corporation	Delaware
JPMorgan Capital (Canada) Corp.	Canada
One Mortgage Partners Corp.	Vermont
First Chicago Equity Corporation	Illinois
First Chicago Leasing Corporation	Delaware
First Chicago Lease Holdings, Inc.	Delaware
Palo Verde Leasing Corporation	Delaware
First Chicago Lease Investments Two, Inc.	Delaware
First Chicago Lease Investments, Inc.	Delaware
GHML Holdings I, Inc.	Delaware
GHML Holdings II, Inc.	Delaware
GTC Fund III Holdings, Inc.	Delaware
GTC Fund IV Holdings, Inc.	Delaware
GTC Fund V Holdings, Inc.	Delaware
JPMC Housing Partnership V L.P.	United States
Lenox Court Associates, Ltd	Florida
JPMorgan Housing Corporation	Delaware
Cooper Project, L.L.C.	Delaware
J.P. Morgan Mansart Investments	France
NLTC Fund Holdings I, Inc.	Delaware
OX FCL Two, Inc.	Delaware
SAHP130 Holdings, Inc.	Delaware
OEP Holding Corporation	Delaware
Chase Travel Investment I, LLC	Delaware
OEP Parent LLC	Delaware
Banc One Equity Capital Fund II, L.L.C.	Delaware
Banc One Equity Capital II, L.L.C.	Delaware
Bank One Investment LLC	Delaware
One Equity Partners Europe GmbH	Germany
One Equity Partners II, L.P.	Cayman Islands
One Equity Partners III, L.P.	Cayman Islands
One Equity Partners IV, L.P.	Cayman Islands
One Equity Partners LLC	Delaware
Banc One Neighborhood Development Corporation	Ohio
Bear Stearns Irish Holdings Inc.	Delaware
Bear Stearns International Funding I S.à r.l.	Luxembourg
J.P. Morgan Dublin Financial Holdings Limited	Ireland
J.P. Morgan Bank Dublin plc	Ireland
Bear Stearns International Funding II S.à r.l.	Luxembourg
Bear Stearns Ireland Limited	Ireland
CCC Holding Inc.	Delaware
Chase Commercial Corporation	Delaware
Chase Capital Holding Corporation	Delaware
Chase Capital Corporation	Delaware
Chase Capital Credit Corporation	Delaware
Chase Lincoln First Commercial Corporation	Delaware
Chase Manhattan Realty Leasing Corporation	New York
Palo Verde 1-PNM August 50 Corporation	Delaware

INCOME STATEMENT

ANNUAL

All numbers in thousands

Period Ending		Dec 31, 2010	Dec 31, 2009	Dec 31, 2008
Total Revenue		102,694,000	100,434,000	112,190,000
Cost of Revenue		-	-	-
Gross Profit		102,694,000	100,434,000	112,190,000
	Operating Expenses
	Research Development	-	-	-
	Selling General and Administrative	60,260,000	50,821,000	41,805,000
	Non Recurring	-	481,000	432,000
	Others	17,575,000	33,065,000	32,941,000
	Total Operating Expenses	-	-	-
Operating Income or Loss		41,498,000	48,082,000	37,012,000
	Income from Continuing Operations
	Total Other Income/Expenses Net	2,965,000	1,186,000	-
	Earnings Before Interest And Taxes	57,244,000	64,390,000	37,012,000
	Interest Expense	12,781,000	15,198,000	34,239,000
	Income Before Tax	44,463,000	49,192,000	2,773,000
	Income Tax Expense	7,489,000	4,415,000	(926,000)
	Minority Interest	-	-	-
	Net Income From Continuing Ops	17,370,000	11,728,000	3,699,000
	Non-recurring Events
	Discontinued Operations	-	-	-
	Extraordinary Items	-	-	1,906,000
	Effect Of Accounting Changes	-	-	-
	Other Items	-	-	-
Net Income		17,370,000	11,728,000	5,605,000
Preferred Stock And Other Adjustments		-	-	(674,000)
Net Income Applicable To Common Shares		15,764,000	8,774,000	4,931,000

Currency in USD.

INCOME STATEMENT

QUARTERLY

Period Ending		Mar 31, 2011	Dec 31, 2010	Sep 30, 2010	Jun 30, 2010
Total Revenue		25,221,000	39,694,000	10,228,000	25,101,000
Cost of Revenue		-	-	-	-
Gross Profit		25,221,000	39,694,000	10,228,000	25,101,000
	Operating Expenses
	Research Development	-	-	-	-
	Selling General and Administrative	15,778,000	15,803,000	14,180,000	14,396,000
	Non Recurring	-	-	-	-
	Others	1,386,000	3,283,000	3,441,000	3,598,000
	Total Operating Expenses	-	-	-	-
Operating Income or Loss		9,226,000	23,651,000	(4,170,000)	10,470,000
	Income from Continuing Operations
	Total Other Income/Expenses Net	102,000	1,253,000	102,000	1,000,000
	Earnings Before Interest And Taxes	11,599,000	28,414,000	11,019,000	10,139,000
	Interest Expense	3,542,000	3,510,000	3,104,000	3,032,000
	Income Before Tax	8,057,000	24,904,000	7,915,000	7,107,000
	Income Tax Expense	2,502,000	2,181,000	1,785,000	2,312,000
	Minority Interest	-	-	-	-
	Net Income From Continuing Ops	5,555,000	4,831,000	4,418,000	4,795,000
	Non-recurring Events
	Discontinued Operations	-	-	-	-
	Extraordinary Items	-	-	-	-
	Effect Of Accounting Changes	-	-	-	-
	Other Items	-	-	-	-
Net Income		5,555,000	4,831,000	4,418,000	4,795,000
Preferred Stock And Other Adjustments		-	-	-	-
Net Income Applicable To Common Shares		5,136,000	4,411,000	4,018,000	4,361,000

Currency in USD.

Balance Sheet

ANNUAL

All numbers in thousands

Period Ending		Dec 31, 2010	Dec 31, 2009	Dec 31, 2008
Assets
Current Assets
	Cash And Cash Equivalents	271,794,000	284,840,000	165,034,000
	Short Term Investments	-	-	203,115,000
	Net Receivables	70,147,000	67,427,000	60,987,000
	Inventory	-	-	-
	Other Current Assets	-	-	-
Total Current Assets		-	-	-
Long Term Investments		1,590,476,000	1,493,004,000	1,571,063,000
Property Plant and Equipment		13,355,000	11,118,000	10,045,000
Goodwill		48,854,000	48,357,000	48,027,000
Intangible Assets		17,688,000	20,152,000	5,581,000
Accumulated Amortization		-	-	-
Other Assets		105,291,000	107,091,000	111,200,000
Deferred Long Term Asset Charges		-	-	-
Total Assets		2,117,605,000	2,031,989,000	2,175,052,000
Liabilities
Current Liabilities
	Accounts Payable	170,330,000	162,696,000	136,604,000
	Short/Current Long Term Debt	369,316,000	358,947,000	230,391,000
	Other Current Liabilities	930,369,000	938,367,000	1,009,277,000
Total Current Liabilities		-	-	-
Long Term Debt		393,835,000	391,389,000	403,083,000
Other Liabilities		-	-	228,813,000
Deferred Long Term Liability Charges		-	-	-
Minority Interest		77,649,000	15,225,000	-
Negative Goodwill		-	-	-
Total Liabilities		1,941,499,000	1,866,624,000	2,008,168,000
Stockholders' Equity
Misc Stocks Options Warrants		-	-	-
Redeemable Preferred Stock		-	-	-
Preferred Stock		7,800,000	8,152,000	31,939,000
Common Stock		4,105,000	4,105,000	3,942,000
Retained Earnings		73,998,000	62,481,000	54,013,000
Treasury Stock		(8,160,000)	(7,196,000)	(9,249,000)
Capital Surplus		97,415,000	97,982,000	92,143,000
Other Stockholder Equity		948,000	(159,000)	(5,904,000)
Total Stockholder Equity		176,106,000	165,365,000	166,884,000
Net Tangible Assets		109,564,000	96,856,000	113,276,000

Currency in USD.

Balance Sheet

QUARTERLY

All numbers in thousands

Period Ending		Mar 31, 2011	Dec 31, 2010	Sep 30, 2010	Jun 30, 2010
Assets
Current Assets
	Cash And Cash Equivalents	321,667,000	271,794,000	290,427,000	271,260,000
	Short Term Investments	-	-	-	-
	Net Receivables	79,236,000	70,147,000	63,224,000	61,295,000
	Inventory	-	-	-	-
	Other Current Assets	-	-	-	-
Total Current Assets		-	-	-	-
Long Term Investments		1,611,194,000	1,590,476,000	1,599,418,000	1,495,457,000
Property Plant and Equipment		13,422,000	13,355,000	11,316,000	11,267,000
Goodwill		48,856,000	48,854,000	48,736,000	48,320,000
Intangible Assets		16,950,000	17,688,000	14,287,000	16,031,000
Accumulated Amortization		-	-	-	-
Other Assets		106,836,000	105,291,000	114,187,000	110,389,000
Deferred Long Term Asset Charges		-	-	-	-
Total Assets		2,198,161,000	2,117,605,000	2,141,595,000	2,014,019,000
Liabilities
Current Liabilities
	Accounts Payable	171,638,000	170,330,000	169,365,000	160,478,000
	Short/Current Long Term Debt	368,170,000	369,316,000	404,414,000	322,968,000
	Other Current Liabilities	995,829,000	930,369,000	903,138,000	887,805,000
Total Current Liabilities		-	-	-	-
Long Term Debt		411,009,000	393,835,000	413,410,000	383,500,000
Other Liabilities		-	-	-	88,148,000
Deferred Long Term Liability Charges		-	-	-	-
Minority Interest		70,917,000	77,649,000	77,438,000	-
Negative Goodwill		-	-	-	-
Total Liabilities		2,017,563,000	1,941,499,000	1,967,765,000	1,842,899,000
Stockholders' Equity
Misc Stocks Options Warrants		-	-	-	-
Redeemable Preferred Stock		-	-	-	-
Preferred Stock		7,800,000	7,800,000	7,800,000	8,152,000
Common Stock		4,105,000	4,105,000	4,105,000	4,105,000
Retained Earnings		78,342,000	73,998,000	69,531,000	65,465,000
Treasury Stock		(4,968,000)	(8,160,000)	(7,572,000)	(5,683,000)
Capital Surplus		94,660,000	97,415,000	96,938,000	96,745,000
Other Stockholder Equity		659,000	948,000	3,028,000	2,336,000
Total Stockholder Equity		180,598,000	176,106,000	173,830,000	171,120,000
Net Tangible Assets		114,792,000	109,564,000	110,807,000	106,769,000

Currency in USD.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.37
UK Pound	1	Rs.72.34
Euro	1	Rs.63.87

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	--

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%)

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.