MIRA INFORM REPORT

Report Date :

18.06.2011

IDENTIFICATION DETAILS

Name :	MICHAEL FISCHER O.H.G.

Registered Office :	Böttgerstr. 9, D 96050 Bamberg

Country :	Germany

Date of Incorporation :	28.11.1947

Com. Reg. No.:	HRA 8024

Legal Form :	General Partnership

Line of Business :	Wholesale of ceramics and glassware

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 :	210,500 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 & address

Michael Fischer o.H.G.

Main address:

Böttgerstr. 9

D 96050 Bamberg

Telephone: 0951/1894-0

Telefax: 0951/1894-307

Homepage: www.fischer-bamberg.de

E-mail: info@fischer-bamberg.de

VAT no.

DE132279157

Tax ID number

207/159/02509

CONCLUSION

Business relations are permissible.

Synthesis

LEGAL FORM General Partnership

Date of foundation: 1947

Registered on: 28.11.1947

companies: Local court 96047 Bamberg

under: HRA 8024

General partner

Christoph Fischer

Höcherbühl 17

D 96049 Bamberg

born: 09.05.1959

Profession: Businessman

Marital status: married

General partner:

Michael Fischer

Wildensorger Str. 6b

D 96049 Bamberg

born: 03.10.1953

Profession: Businessman

Marital status: married

General partner:

Herbert Fischer

Viktor-von-Scheffel-Str. 26

D 96049 Bamberg

born: 29.08.1928

Profession: Businessman

Marital status: married

Further functions/participations of Christoph Fischer

(General partner)

Shareholder:

MERCANT-GLAS Handelsgesellschaft mit

beschränkter Haftung

Böttgerstr. 9

D 96050 Bamberg

Legal form: Private limited company

Share capital: EUR 886,273.35

Share: EUR 443,136.67

Registered

on: 26.09.1988

Reg. data: 96047 Bamberg, HRB 1604

Shareholder:

BICS GmbH

Hainstr. 20a

D 96047 Bamberg

Legal form: Private limited company in

liquidation

Share capital: EUR 25,000.00

Share: EUR 12,500.00

Registered

on: 09.06.2005

Reg. data: 96047 Bamberg, HRB 5309

Manager:

MERCANT-GLAS Handelsgesellschaft mit

beschränkter Haftung

Böttgerstr. 9

D 96050 Bamberg

Legal form: Private limited company

Share capital: EUR 886,273.35

Registered

on: 26.09.1988

Reg. data: 96047 Bamberg, HRB 1604

Liquidator:

BICS GmbH

Hainstr. 20a

D 96047 Bamberg

Legal form: Private limited company in

liquidation

Share capital: EUR 25,000.00

Registered

on: 09.06.2005

Reg. data: 96047 Bamberg, HRB 5309

Further functions/participations of Michael Fischer

(General partner)

Shareholder:

MERCANT-GLAS Handelsgesellschaft mit

beschränkter Haftung

Böttgerstr. 9

D 96050 Bamberg

Legal form: Private limited company

Share capital: EUR 886,273.35

Share: EUR 443,136.67

Registered

on: 26.09.1988

Reg. data: 96047 Bamberg, HRB 1604

Shareholder:

Fischer GPK GmbH

Böttgerstr. 9

D 96050 Bamberg

Legal form: Private limited company

Share capital: EUR 25,564.59

Share: EUR 12,782.30

Registered

on: 26.03.1991

Reg. data: 96047 Bamberg, HRB 1994

Manager:

MERCANT-GLAS Handelsgesellschaft mit

beschränkter Haftung

Böttgerstr. 9

D 96050 Bamberg

Legal form: Private limited company

Share capital: EUR 886,273.35

Registered

on: 26.09.1988

Reg. data: 96047 Bamberg, HRB 1604

Manager:

Fischer GPK GmbH

Böttgerstr. 9

D 96050 Bamberg

Legal form: Private limited company

Share capital: EUR 25,564.59

Registered

on: 26.03.1991

Reg. data: 96047 Bamberg, HRB 1994

RESIGNED ACTING PERSONS AND SHAREHOLDERS

08.03.1995 - 10.02.2010 General partner

Karl Fischer

D 96049 Bamberg

BUSINESS ACTIVITIES

Sectors

46441 Wholesale of ceramics and glassware

47592 Retail sale of ceramic goods and glassware

FINANCIAL INFORMATION

Payment experience: within periods customary in this trade

Negative information: We have no negative information at hand.

Maximum credit: 210,500 EUR

REAL ESTATE

Type of ownership: proprietor

Share: 100.00 %

Address Böttgerstr. 9

D 96050 Bamberg

Real Estate of: Herbert Fischer

Type of ownership: proprietor

Share: 100.00 %

Address Viktor-von-Scheffel-Str. 26

D 96049 Bamberg

Type of real estate: detached single-family house

Land register documents were not available.

BANKERS

Principal bank

SPARKASSE BAMBERG, BAMBERG

Sort. code: 77050000, Account no.: 3129, BIC: BYLADEM1SKB

FINANCIAL FIGURES

Financial year: 01.01. - 31.12.

Turnover: 2009 EUR 11,500,000.00

2010 EUR 11,700,000.00

further business figures:

Employees: 100

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.44.93
UK Pound	1	Rs.72.43
Euro	1	Rs.63.62

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 & address

VAT no.

Tax ID number

CONCLUSION

Synthesis

General partner

Further functions/participations of Christoph Fischer

Further functions/participations of Michael Fischer

RESIGNED ACTING PERSONS AND SHAREHOLDERS

BUSINESS ACTIVITIES

FINANCIAL INFORMATION

REAL ESTATE

BANKERS

FINANCIAL FIGURES

Unit