MIRA INFORM REPORT

Report Date :

02.11.2011

IDENTIFICATION DETAILS

Name :	ARIAN BREWERIES AND DISTRILLERIES LIMITED
Registered Office :	8/7, WEA Karol Bagh, New Delhi – 110005
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	23.02.1995
Com. Reg. No.:	55-065759
Capital Investment / Paid-up Capital :	Rs. 34.192 Millions
CIN No.: [Company Identification No.]	U74899DL1995PLC065759
TAN No.: [Tax Deduction & Collection Account No.]	DELA19136F
PAN No.: [Permanent Account No.]	AADCA5866A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Food and Beverages.
No. of Employees :	Information Declined by the Mangaement

RATING & COMMENTS

MIRA’s Rating :

Ca (19)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Recently commenced Business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Though the company was incorporated in the year 1995, the company has started its commercial business activities recently in October, 2011. Trade relations are reported as fair. Business is active. Payments are unknown. The company can be considered for business dealings on a secured 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 (Partial Details)

Name :	Mr. Ashish
Designation :	Key Executive
Contact No.:	91-11-45144444
Date :	01.11.2011

LOCATIONS

Registered Office/ factory :	8/7, WEA Karol Bagh, New Delhi – 110005, India
Tel. No.:	91-11-45144444
Fax No.:	91-11-45144400
E-Mail :	harit@arianbeer.com
Website :	www.arianbeer.com

DIRECTORS

As on 30.09.2010

Name :

Mr. Virender Singh Kochar

Designation :

Director

Address :

B-255, Derawal Nagar, Delhi – 110033, India

Date of Appointment :

08.05.2006

DIN No.:

00027691

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1987PTC029197	Suchet Associates Private Limited	Director	15-09-87	15-09-87	27-05-11	Active	NO
2	U74899DL1994PTC060366	Jayshree Promoters and Developers Private Limited	Director	12-10-94	12-10-94	27-05-11	Active	NO
3	U74899DL1992PTC048959	Neelkanth Overseas Private Limited	Director	13-10-94	13-10-94	27-05-11	Active	NO
4	U74899DL1994PLC063629	Maja Construction Limited	Director	20-12-94	20-12-94	27-05-11	Active	NO
5	U74899DL1994PTC057420	Prateek Collections Private Limited	Director	01-04-95	01-04-95	27-05-11	Active	YES
6	U45201DL1995PTC075027	Paradigm Projects Private Limited	Director	29-12-95	29-12-95	27-05-11	Active	NO
7	U70101DL1996PTC075371	Gangasagar Developers Private Limited	Director	08-04-99	08-04-99	27-05-11	Active	NO
8	U74899DL1995PTC070911	Diamond Laboratories India Private Limited	Director	30-08-01	30-08-01	27-05-11	Active	NO
9	U24246DL2002PTC115271	Positive Airtech Private Limited	Director	08-05-02	08-05-02	27-05-11	Active	NO
10	U45201DL1998PTC096324	Accurate Properties Private Limited	Director	24-06-02	24-06-02	27-05-11	Active	NO
11	U70101DL2004PTC127883	Kochar Infrastructure Private Limited	Director	27-07-04	27-07-04	27-05-11	Active	NO
12	U74899DL1995PLC065759	Arian Breweries and Distrillaries Limited	Director	08-05-06	08-05-06	-	Active	NO
13	U74899DL1995PTC074859	Twinkle Estates Private Limited	Director	23-10-06	23-10-06	-	Active	NO
14	U24246DL2006PLC156904	Ochey Cosmetics (India) Limited	Director	21-12-06	21-12-06	27-05-11	Active	NO
15	U74999DL2006PTC156926	VSK Cosmetics Private Limited	Director	22-12-06	22-12-06	-	Active	NO
16	U51909DL2006PTC157000	Evershine Consumers Durable Private Limited	Director	26-12-06	26-12-06	-	Active	NO
17	U67120WB1995PTC071943	Captivate Consultant Services Private Limited	Director	30-09-08	23-05-08	27-05-11	Active	NO
18	U51909DL2008PTC177583	Ambar Oaks Distributors Private Limited	Director	30-09-09	01-10-08	-	Active	NO
19	U24246DL2010PTC197628	Maja Blosom Care Private Limited	Director	05-01-10	05-01-10	-	Active	NO

Name :

Mr. Kuljeet Singh Kochar

Designation :

Director

Address :

B-305, Derawal Nagar, Delhi – 110033, India

Date of Appointment :

08.05.2006

DIN No.:

00027731

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U45200DL1993PTC054078	Landmark International Private Limited	Director	17-06-93	17-06-93	-	Active	NO
2	U74899DL1994PTC057420	Prateek Collections Private Limited	Director	21-05-94	21-05-94	08-06-11	Active	YES
3	U74899DL1992PTC048957	Akhil Bhartiya Nirman Udyog Private Limited	Director	24-11-94	24-11-94	08-06-11	Active	NO
4	U74899DL1994PLC063629	Maja Construction Limited	Director	20-12-94	20-12-94	08-06-11	Active	NO
5	U74899DL1995PTC074197	Chankaya Builders Private Limited	Director	28-11-95	28-11-95	-	Active	NO
6	U70101DL1996PTC077212	Sunbeam Promoters and Builders Private Limited	Director	15-03-96	15-03-96	08-06-11	Active	NO
7	U70101DL1996PTC077520	Akash Projects Private Limited	Director	25-03-96	25-03-96	-	Active	NO
8	U67120DL1996PTC078253	Smartgain Investment And Finance Company Private Limited	Director	20-05-97	20-05-97	08-06-11	Active	NO
9	U70101DL1996PTC080575	Professionals Developers Private Limited	Director	12-01-99	12-01-99	08-06-11	Active	NO
10	U70101DL1996PTC082526	Mirage Projects Private Limited	Director	25-02-00	25-02-00	08-06-11	Active	NO
11	U24246DL2002PTC115271	Positive Airtech Private Limited	Director	08-05-02	08-05-02	08-06-11	Active	NO
12	U45201DL1997PTC087199	New Vision Housing And Land Development Private Limited	Director	24-06-02	24-06-02	08-06-11	Active	NO
13	U64200DL1994PTC058929	Annika Electronics Private Limited	Additional director	02-12-09	26-05-04	-	Active	YES
14	U70101DL2004PTC127883	Kochar Infrastructure Private Limited	Director	27-07-04	27-07-04	08-06-11	Active	NO
15	U70101DL2005PTC138411	VKB Colonisers Private Limited	Director	01-09-05	01-09-05	08-06-11	Active	NO
16	U70101DL2005PTC136579	Gemini Housing Private Limited	Director	01-09-05	01-09-05	08-06-11	Active	NO
17	U70101DL2005PTC138410	BSK Colonisers Private Limited	Director	01-09-05	01-09-05	08-06-11	Active	NO
18	U70101DL2005PTC136584	Platinum Housing Private Limited	Director	02-09-05	02-09-05	-	Active	NO
19	U17297DL1996PTC083257	Kundli Cotex Private Limited	Director	10-09-05	10-09-05	08-06-11	Active	NO
20	U45201DL2005PTC142523	S R B Buildtech Private Limited	Director	19-11-05	19-11-05	-	Active	NO
21	U45201DL2005PTC132427	Umang Real Estates Private Limited	Director	14-03-06	14-03-06	-	Active	NO
22	U45201DL2006PTC144896	Kochar Dwellers and Infrastructure Private Limited	Director	10-04-06	10-04-06	08-06-11	Active	NO
23	U74899DL1995PLC065759	Arian Breweries and Distrillaries Limited	Director	08-05-06	08-05-06	-	Active	NO
24	U24246DL2006PLC156904	Ochey Cosmetics (India) Limited	Director	21-12-06	21-12-06	08-06-11	Active	NO
25	U45200DL2006PTC156817	Coral Infratech Private Limited	Director	21-12-06	21-12-06	08-06-11	Active	NO
26	U74999DL2006PTC156926	VSK Cosmetics Private Limited	Director	22-12-06	22-12-06	-	Active	NO
27	U45200DL2006PTC156933	Moon Buildcon Private Limited	Director	22-12-06	22-12-06	-	Active	NO
28	U51909DL2006PTC157000	Evershine Consumers Durable Private Limited	Director	26-12-06	26-12-06	-	Active	NO
29	U45200DL2006PTC157202	Pleasant Infrastructures Private Limited	Director	29-12-06	29-12-06	08-06-11	Active	NO
30	U45200DL2006PTC157209	Evergreen Infratech Private Limited	Director	30-12-06	30-12-06	08-06-11	Active	NO
31	U45200DL2007PTC158941	Allwell Infratech Private Limited	Director	07-02-07	07-02-07	08-06-11	Active	NO
32	U45201DL2006PTC146322	Sun View Buildtech Private Limited	Director	25-09-07	02-09-07	-	Active	NO
33	U52100DL2007PTC170109	Bk Golden Impex Private Limited	Director	02-11-07	02-11-07	08-06-11	Active	NO
34	U17291DL2007PTC170106	Attractive Impex Private Limited	Director	02-11-07	02-11-07	08-06-11	Active	NO
35	U45201DL2005PTC135528	Pisces Realtors Private Limited	Director	10-12-07	10-12-07	-	Active	NO
36	U70101DL2005PTC136585	Capricon Housing Private Limited	Director	10-12-07	10-12-07	-	Active	NO
37	U45201DL2005PTC142517	Kochar Buildtech Pvt Lted	Director	10-12-07	10-12-07	08-06-11	Active	NO
38	U45201DL2005PTC143605	Capricon Colonizers Private Limited	Director	10-12-07	10-12-07	08-06-11	Active	NO
39	U74899DL2005PTC142518	Accord Buildtech Private Limited	Director	10-12-07	10-12-07	08-06-11	Active	NO
40	U51909DL2008PTC177583	Ambar Oaks Distributors Private Limited	Director	01-10-08	01-10-08	-	Active	NO
41	U24246DL2010PTC197628	Maja Blosom Care Private Limited	Director	05-01-10	05-01-10	-	Active	NO

Name :

Mr. Suneet Singh Sachdeva

Designation :

Director

Address :

A-1/132, 2^nd Floor, Safdarjung Enclave, New Delhi – 110029, India

Date of Appointment :

08.05.2007

DIN No.:

00040507

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U45201DL1995PTC075027	Paradigm Projects Private Limited	Director	29-12-95	29-12-95	-	Active	NO
2	U45201DL2004PTC129659	Trust Realtors Private Limited	Director	12-01-05	12-01-05	-	Active	NO
3	U51217DL2006PTC149029	Good Times Enterprises Private Limited	Director	21-05-06	21-05-06	-	Active	NO
4	U74899DL1995PLC065759	Arian Breweries and Distrillaries Limited	Director	08-05-07	08-05-07	-	Active	NO
5	U55101DL2008PTC172781	Chakde Hospitality Private Limited	Director	17-01-08	17-01-08	-	Active	NO
6	U55101DL2008PTC172935	Chakde Resorts Private Limited	Director	21-01-08	21-01-08	-	Active	NO
7	U67120WB1995PTC071943	Captivate Consultant Services Private Limited	Director	23-05-08	23-05-08	-	Active	NO
8	U74899DL1994PLC063629	Maja Construction Limited	Director	28-09-09	01-08-09	-	Active	NO
9	U40106DL2011PTC215873	Interpro Consulting Services (India) Private Limited	Director	15-03-11	15-03-11	-	Active	NO

Name :

Mr. Harpreet Sachdeva

Designation :

Director

Address :

A-1/132, 2^nd Floor, Safdarjung Enclave, New Delhi – 110029, India

Date of Appointment :

08.05.2006

DIN No.:

00040528

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1995PTC074197	Chankaya Builders Private Limited	Director	28-11-95	28-11-95	-	Active	NO
2	U45201DL1995PTC075027	Paradigm Projects Private Limited	Director	07-03-96	07-03-96	-	Active	NO
3	U70101DL1996PTC077212	Sunbeam Promoters And Builders Private Limited	Director	15-03-96	15-03-96	-	Active	NO
4	U70101DL1996PTC077520	Akash Projects Private Limited	Director	25-03-96	25-03-96	-	Active	NO
5	U55101DL1999PTC098143	Good Times Hotel Private Limited	Director	29-01-99	29-01-99	-	Active	NO
6	U55101DL2000PTC104613	Good Times Sherton Hotels Private Limited	Director	22-03-00	22-03-00	-	Active	NO
7	U45201DL2004PTC129659	Trust Realtors Private Limited	Director	05-10-04	05-10-04	-	Active	NO
8	U74899DL1995PLC065759	Arian Breweries and Distrillaries Limited	Director	08-05-06	08-05-06	-	Active	NO
9	U51217DL2006PTC149029	Good Times Enterprises Private Limited.	Director	21-05-06	21-05-06	-	Active	NO
10	U55102DL2007PTC170120	Hot Grill Hospitality Private Limited	Director	02-11-07	02-11-07	-	Active	NO
11	U55101DL2008PTC172781	Chakde Hospitality Private Limited	Director	17-01-08	17-01-08	-	Active	NO
12	U55101DL2008PTC172935	Chakde Resorts Private Limited	Director	21-01-08	21-01-08	-	Active	NO
13	U67120WB1995PTC071943	Captivate Consultant Services Private Limited	Director	23-05-08	23-05-08	-	Active	NO
14	U74899DL1994PLC063629	Maja Construction Limited	Director	28-09-09	01-08-09	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ashish
Designation :	Key Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2009

Names of Shareholders	No. of Shares
Virender Singh Kochar	2290880
Harpreet Sachdeva	214210
Kuljeet Singh Kochar	14260
Suneet Sachdeva	119260
Gurmeet Kochar	7130
Sarika Sachdeva	7130
Monika Sachdeva	7130
Positive Airtech Private Limited	320000
TOTAL	2980000

As on 28.09.2010

Names of Allotee	No. of Shares Alloted
Harpreet Sachdeva	158000
Virender Singh Kochar	1014350
Suneet Sachdeva	22000
Foundation Fininvestments Lease Private Limited	157140
TOTAL	1351490

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Food and Beverages.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Allahabad Bank, 17, Parliament Street, New Delhi – 110002, India
• Oriental Bank of Commerce, A-2/40, Safdarjung Enclave, New Delhi – 110029, India
• Punjab National Bank
• State Bank of India

Facilities :

Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Unsecured Loan from Directors and Shareholders	45.965	4.396
Total	45.965	4.396

Banking Relations :
Auditors :
Name :	R Khattar and Associates Chartered Accountants
Address :	N-17, Annexe, 1^st and 2ne Floor, Green Park Extension, New Delhi – 110016, India
PAN.:	AAHFR4693K

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital Rs, 50.000 Millions

Issued, Subscribed and Paid Up Capital of Rs. 49.535 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3419247	Equity Shares	Rs.10/- each	Rs. 34.192 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		34.192	29.800	1.426
2] Share Application Money		0.000	0.600	12.356
3] Reserves & Surplus		69.944	63.355	63.355
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		104.136	93.755	77.137
LOAN FUNDS
1] Secured Loans		137.797	45.575	0.467
2] Unsecured Loans		45.965	4.396	13.168
TOTAL BORROWING		183.762	49.971	13.635
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		287.898	143.726	90.772
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		66.963	65.095	65.095
Capital work-in-progress		201.909	65.291	20.809
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	2.542	0.101	0.094
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.744	0.000	0.002
Total Current Assets		3.286	0.101	0.096
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7.532	0.008	0.235
	Other Current Liabilities	0.447	0.067	0.000
	Provisions	0.000	0.000	0.041
Total Current Liabilities		7.979	0.075	0.276
Net Current Assets		(4.692)	0.026	4.693
MISCELLANEOUS EXPENSES		0.175	0.175	0.175
Pre- Operative Expenses		23.543	13.139	4.873
TOTAL		287.898	143.726	90.772

KEY RATIOS

PARTICULARS	31.03.2010	31.03.2009	31.03.2008
Debt Equity Ratio (Total Liability/Networth)	1.84	0.53	0.18
Current Ratio (Current Asset/Current Liability)	0.41	1.35	18.00

LOCAL AGENCY FURTHER INFORMATION

Check list by Info Agents	Available in Reports ( Yes/No)
Year Of Establishment	Yes
Locality of the Firm	Yes
Constitutions of the Firm	Yes
Premises Details	Yes
Type Of Business	Yes
Line of Business	Yes
Promoter’s Background	--
No. of Employees	No
Name of person contacted	Yes
Designation of contact person	Yes
Turnover of Firm fort last three years	No
Profitability for last three years	No
Reasons For Variation<>20%	No
Estimation for coming financial year	No
Capital in Business	No
Details of Sister Concern	No
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details (if Applicable)	No
Market Information	--
Litigations that the firm / Promoter involved in	--
Banking Details	No
Banking Facility Details	No
Conduct of the banking account	--
Buyer visit details	--
Financial, if provided	No
Incorporation details, if applicable	--
Last Account filed at ROC	--
Major shareholder , if available	--

Notes:

The registered address of the company change from C,43 South Extension ll, New delhi – 110049, India to Present Address w.e.f 08.05.2006

FORM 8:

Corporate identity number of the company	U74899DL1995PLC065759
Name of the company	ARIAN BREWERIES AND DISTRILLARIES LIMITED
Address of the registered office or of the principal place of business in India of the company	8/7, Wea Karol Bagh, New Delhi – 110005, India Email: harit@arianbeer.com
This form is for	Creation of Charge
Type of charge	Immovable Property Book Debts Movable Property (not being pledge)
Particular of charge holder	Allahabad Bank, 17, Parliament Street, New Delhi – 110002, India Email : neelbhardwaj@yahoo.com
Nature of instrument creating charge	Master Agreement For Documentary Credit General Letter of Hypothication and Sanction Letter. Term Loan of Rs. 55.000 Millions Cash Credit Limit of Rs. 92.500 Millions
Date of instrument Creating the charge	05.02.2011
Amount secured by the charge	Rs. 147.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest : AT BR+4% P.A.W.M.R I.E 13.5% P.A.W.M.R Terms of Repayment: Term Loan Repaymentn As Per Sanction Letter Cash Credit On Demand Margin : 25% Extent and operation of the charge: Term Loan Against 2nd Chargeon Fixed Assets Including Land of Company By Way of Hypothecation ( First Charge Being With OBC) Cash credit against exclusive charge by way of hypothecation of raw material, work in progess and finished products such as raw material, stores and spares, book debts and other current assets (present and future) of the company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	2nd Charge on fixed assets of the company at 1038A, Chopanki Industrial Area, Bhiwadi, Alwar Rajasthan 1st charge on current assets of the company 2nd Charge On Collateral Security At A-1/132,3rd Floor, Safdarjung Enclave, New Delhi Standing In The Name of Share holder Harpreet Sachdeva.

FIXED ASSETS

• Land
• Car
• Computer
• Other Assets

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 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.49.08
UK Pound	1	Rs.78.78
Euro	1	Rs.67.76

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		19

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.