MIRA INFORM REPORT

Report Date :

17.06.2011

IDENTIFICATION DETAILS

Name :	ADOLF THIES GMBH & CO. KG

Registered Office :	Hauptstr. 76, D 37083 Göttingen

Country :	Germany

Date of Incorporation :	16.07.1954

Com. Reg. No.:	HRA 2488

Legal Form :	Ltd partnership with priv. ltd. company as general partner

Line of Business :	Manufacturer of instruments and appliances for measuring, testing and navigation

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	250,000 EUR
Status :	Satisfactory
Payment Behaviour :	Regular
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)

Germany

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

Bottom of Form

Company name

Adolf Thies GmbH & Co. KG

Main address:

Hauptstr. 76

D 37083 Göttingen

Telephone: 0551/79001-0

Telefax: 0551/79001-65

Homepage: www.thiesclima.com

E-mail: info@thiesclima.com

VAT no.

DE115311033

CONCLUSION

Business relations are permissible.

Synthesis

LEGAL FORM Ltd partnership with priv. ltd. company as

general partner

Date of foundation: 1945

Registered on: 16.07.1954

companies: Local court 37073 Göttingen

under: HRA 2488

Total cap. contribution: EUR 383,468.92

Limited partner

Wolfgang Behrens

An der Rase 4

D 37124 Rosdorf

born: 20.08.1950

Share: EUR 170,260.20

Limited partner:

Rainer Wittmers

D 37083 Göttingen

Share: EUR 106,604.36

Limited partner:

Thomas Stadie

Bergstr. 4

D 37127 Dransfeld

born: 28.11.1960

Share: EUR 106,604.36

General partner

Thies Verwaltungs- und

Beteiligungsgesellschaft mit beschränkter

Haftung

Hauptstr. 76

D 37083 Göttingen

Legal form: Private limited company

Share capital: EUR 26,550.00

Registered on: 19.12.1973

Reg. data: 37073 Göttingen, HRB 721

Shareholder

Klaus Thies

Meininger Weg 73

D 37085 Göttingen

born: 25.03.1945

Share: EUR 11,300.00

Shareholder:

Wolfgang Behrens

An der Rase 4

D 37124 Rosdorf

born: 20.08.1950

Share: EUR 6,750.00

Shareholder:

Rainer Wittmers

Vinckestr. 3

D 59457 Werl

born: 12.09.1956

Share: EUR 4,250.00

Shareholder:

Thomas Stadie

Bergstr. 4

D 37127 Dransfeld

born: 28.11.1960

Share: EUR 4,250.00

Manager

Wolfgang Behrens

An der Rase 4

D 37124 Rosdorf

having sole power of representation

born: 20.08.1950

Profession: Businessman

Marital status: married

Proxy

Thomas Stadie

Bergstr. 4

D 37127 Dransfeld

having sole power of representation

born: 28.11.1960

Further functions/participations of Thies Verwaltungs- und Beteiligungsgesellschaft mit beschränkter Haftung (General partner)

General partner:

SFE Sensor Forschungs- und Entwicklungs GmbH

& Co.KG

Hauptstr. 76

D 37083 Göttingen

Legal form: Ltd partnership with priv. ltd.

company as general partner in

liquidation

Total cap. EUR 100,000.00

contribution:

Registered

on: 26.01.2007

Reg. data: 37073 Göttingen, HRA 200097

General partner:

Thies Vermögensverwaltungs GmbH & Co. KG

Hauptstr. 76

D 37083 Göttingen

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap. EUR 99,620.00

contribution:

Registered

on: 07.10.2008

Reg. data: 37073 Göttingen, HRA 200296

BUSINESS ACTIVITIES

Sectors

26512 Manufacture of instruments and appliances for measuring, testing and navigation

FINANCIAL INFORMATION

Payment experience: within agreed terms

Negative information: We have no negative information at hand.

Maximum credit: 250,000 EUR

REAL ESTATE

Type of ownership: Tenant

Address Hauptstr. 76

D 37083 Göttingen

Type of ownership: proprietor

Share: 100.00 %

Address Hauptstr. 78a

D 37083 Göttingen

Real Estate of: Thies Verwaltungs- und

Beteiligungsgesellschaft mit beschränkter

Haftung

Type of ownership: Tenant

Address Hauptstr. 76

D 37083 Göttingen

Land register documents were not available.

BANKERS

DEUTSCHE BANK, GÖTTINGEN, NIEDERSACHS

Sort. code: 26070072, BIC: DEUTDE2H260

COMMERZBANK, GÖTTINGEN, NIEDERSACHS

Sort. code: 26040030, BIC: COBADEFF260

SPARKASSE GÖTTINGEN, GÖTTINGEN, NIEDERSACHS

Sort. code: 26050001, BIC: NOLADE21GOE

RAIFFEISENBANK, ROSDORF, KR GÖTTINGEN

Sort. code: 26062575, BIC: GENODEF1RDO

FINANCIAL FIGURES

Financial year: 01.01. - 31.12.

Gross profit or loss:2009 EUR 12,000,000.00

2010 EUR 12,500,000.00

further business figures:

Equipment: EUR 800,000.00

Ac/ts receivable: EUR 750,000.00

Liabillities: EUR 200,000.00

Employees: 88

- thereof permanent staff: 87

The aforementioned business figures may partly be estimated information based on average values in the line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.90
UK Pound	1	Rs.72.54
Euro	1	Rs.63.39

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.

Company name

VAT no.

CONCLUSION

Synthesis

Limited partner

General partner

Shareholder

Manager

Proxy

BUSINESS ACTIVITIES

FINANCIAL INFORMATION

REAL ESTATE

BANKERS

FINANCIAL FIGURES

Unit