MIRA INFORM REPORT

Report Date :

05.11.2011

IDENTIFICATION DETAILS

Name :	SUBHAM CORPORATION PRIVATE LIMITED
Registered Office :	# 1259, Lakshmi Towers, Road No. 36, Jubilee Hills, Hyderabad 500033, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	18.03.2010
Com. Reg. No.:	067589
Capital Investment / Paid-up Capital :	Rs.0.100 million
CIN No.: [Company Identification No.]	U74990AP2010PTC067589
TAN No.: [Tax Deduction & Collection Account No.]	HYDS27515F
PAN No.: [Permanent Account No.]	AAOCS0473N
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Coal
No. of Employees :	5 Approximately

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 2088
Status :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new company establishing itself gradually. The company has achieved sizable turnover in its very first year of operation. Trade relations are reported as fair. Business is active. Payments are unknown. The company can be considered for business dealings with some caution.

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

Name :	Mr. Manikumar
Designation :	Accountant
Contact No.:	91-40-23557196
Date :	04.11.2011

LOCATIONS

Registered Office :	# 1259, Lakshmi Towers, Road No. 36, Jubilee Hills, Hyderabad 500033, Andhra Pradesh, India
Tel. No.:	91-40-23557196 / 99
Fax No.:	91-40-23557190
E-Mail :	yugandhar@navayuga.com manikymar@subhamcorp.com
Website:	www.subhamcorp.com
Location:	Owned

DIRECTORS

AS ON 20.09.2010

Name :	Mr. Chinta Sasidhar
Designation :	Director
Date of Birth/Age :	29.01.1972
Date of Appointment :	18.03.2010
DIN No.:	00009300

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	U45203AP1986PLC006925	Navayuga Engineering Company Limited	Whole-time director	01/04/2007	27/11/1995	-	Active	NO
2	U14108OR1996PLC004643	Navayuga Minerals Limited	Director	14/10/1996	14/10/1996	05/01/2009	Active	NO
3	U72200AP1997PTC026655	Navayuga Infotech Private Limited	Managing director	15/03/1999	15/03/1999	-	Active	NO
4	U74999AP1999PTC032422	Digi Trans Private Limited	Director	02/09/1999	02/09/1999	-	Active	NO
5	U74899DL1932PTC000275	Madan Mohan Lall Shriram Private Limited	Director	14/10/2000	14/10/2000	-	Active	NO
6	U72900AP2002PTC038412	Spatial Networks Private Limited	Director	29/01/2002	29/01/2002	-	Active	NO
7	U45209AP2001PTC037218	Navayuga Infrastructure Corporation Private Limited	Director	03/04/2003	03/04/2003	-	Active	NO
8	U70102AP2002PTC038539	Nyse Infrastructure Private Limited	Director	02/08/2004	02/08/2004	-	Active	NO
9	U72200AP2004PTC044662	Navayuga Spatial Technologies Private Limited	Director	22/11/2004	22/11/2004	-	Active	NO
10	U74899DL2005PTC143046	Himurja Infra Private Limited	Director	01/12/2005	01/12/2005	25/07/2008	Active	NO
11	U65910AP2006PTC049469	Chinta Investments Private Limited	Director	13/03/2006	13/03/2006	-	Active	NO
12	U45200AP2006PTC049468	Cvr Holdings Private Limited	Director	13/03/2006	13/03/2006	-	Active	NO
13	U45200AP2006PTC049585	Godavari Toll Bridge Private Limited	Director	23/03/2006	23/03/2006	11/02/2010	Active	NO
14	U45203AP1996PLC023529	Krishnapatnam Port Company Limited	Managing director	12/08/2010	01/04/2006	-	Active	NO
15	U45200AP2006PTC049718	Indu Navayuga Infra Projects Private Limited	Nominee director	07/04/2006	07/04/2006	16/06/2010	Active	NO
16	U45200AP2006PLC051378	Krishnapatnam Railway Company Limited	Nominee director	11/10/2006	11/10/2006	23/12/2009	Active	NO
17	U70102AP2006PTC052114	Navayuga Legala Estates Private Limited	Director	26/12/2006	26/12/2006	-	Active	NO
18	U60231TN2006PTC061849	Ennore Logistics Park Private Limited	Director	18/01/2007	18/01/2007	24/02/2009	Active	NO
19	U70102AP2007PTC053094	Navayuga Real Ventures Private Limited	Director	13/03/2007	13/03/2007	-	Active	NO
20	U45400AP2007PTC053344	Navayuga Bengalooru Tollway Private Limited	Nominee director	27/03/2007	27/03/2007	27/10/2009	Active	NO
21	U85110DL2000PTC105219	In-Shape Health And Resorts Private Limited	Director	02/04/2007	02/04/2007	27/10/2008	Active	YES
22	U70102AP2007PTC053588	Nec Real Estate Private Limited	Director	13/04/2007	13/04/2007	-	Active	NO
23	U70109WB2007PTC115397	Navayuga Infinity Infrastructure Private Limited	Additional director	02/05/2007	02/05/2007	29/08/2008	Active	NO
24	U62100AP2007PTC054340	Navayuga Flytech Private Limited	Director	07/06/2007	07/06/2007	11/02/2010	Active	NO
25	U74900AP2007PTC054344	Gateway Media Private Limited	Director	07/06/2007	07/06/2007	22/05/2010	Active	NO
26	U45201KA2007PTC042067	Cornerstone Shelters Private Limited	Director	20/06/2007	20/06/2007	-	Active	NO
27	U70102KA2006PTC040019	Cornerstone Property Investments Private Limited	Director	07/09/2007	07/09/2007	-	Active	NO
28	U99999MH1997PTC110748	Sanborn Technology Resources Private Limited	Director	19/09/2007	19/09/2007	07/01/2010	Active	NO
29	U40101AP2007PLC055995	Navayuga Power Corporation Limited	Director	18/10/2007	18/10/2007	-	Active	NO
30	U40105AP2007PLC056531	Krishnapatnam Power Corporation Limited	Director	05/12/2007	05/12/2007	11/02/2010	Active	NO
31	U45209AP2008PTC057033	Krishnapatnam Infratech Private Limited	Director	08/01/2008	08/01/2008	-	Active	NO
32	U40101OR2008PLC009754	Astaranga Power Company Limited	Director	18/01/2008	18/01/2008	-	Active	NO
33	U27102OR2008PLC009755	Navayuga Steel Limited	Director	18/01/2008	18/01/2008	-	Active	NO
34	U40300AP2008PTC057882	Krishnapatnam Water Company Private Limited	Director	28/02/2008	28/02/2008	-	Active	NO
35	U13209OR1991PTC002927	Geomin Minerals And Marketing Private Limited	Director	29/03/2008	29/03/2008	-	Active	NO
36	U27101OR1991PTC002917	Konark Ferro Alloys Private Limited	Director	29/03/2008	29/03/2008	-	Active	NO
37	U13202OR1996PTC004607	Axl Industries Private Limited	Director	29/03/2008	29/03/2008	-	Active	NO
38	U74900AP2008PTC058987	Krishna Dredging Company Private Limited	Director	05/05/2008	05/05/2008	-	Active	NO
39	U67100AP2008PTC059301	Chinta Madhava Capital Ventures Private Limited	Director	23/05/2008	23/05/2008	-	Active	NO
40	U93000AP2008PTC059300	Chinta Govind Capital Ventures Private Limited	Director	23/05/2008	23/05/2008	-	Active	NO
41	U63032OR2008PLC010058	Jagannath Port Company Limited	Director	28/05/2008	28/05/2008	-	Active	NO
42	U14102AP1993PLC016535	Navayuga Exports Limited	Additional director	06/06/2008	06/06/2008	24/10/2008	Active	NO
43	U72200AP2000PLC035176	Mapworld Technologies Limited	Additional director	09/06/2008	09/06/2008	11/02/2010	Active	NO
44	U93000AP2008PTC061736	Krishnapatnam Security Services Private Limited	Director	06/11/2008	06/11/2008	11/02/2010	Active	NO
45	U45203AP2009PTC064061	Navayuga Dichpally Tollway Private Limited	Director	19/06/2009	19/06/2009	-	Active	NO
46	U40109AP2006PTC048975	Kineta Power Private Limited	Director	25/03/2010	12/01/2010	-	Active	NO
47	U45200AP2007PLC052829	Machilipatnam Port Limited	Director	18/04/2011	06/02/2010	-	Active	NO
48	U61200AP2010PTC067529	East Coast Logistics Private Limited	Director	12/03/2010	12/03/2010	-	Active	NO
49	U74990AP2010PTC067589	Subham Corporation Private Limited	Director	18/03/2010	18/03/2010	-	Active	NO
50	U45203AP2010PTC068139	Navayuga Infra Projects Private Limited	Director	28/04/2010	28/04/2010	-	Active	NO
51	U45203AP2010PTC068208	Navayuga Road Projects Private Limited	Director	01/05/2010	01/05/2010	-	Active	NO
52	U45309AP2010PTC068207	Navayuga Port Projects Private Limited	Director	01/05/2010	01/05/2010	-	Active	NO
53	U74999AP2008PTC058448	Vanpic Ports Private Limited	Director	20/09/2010	14/05/2010	-	Active	NO
54	U45209AP2008PTC058696	Genexx Infratech Private Limited	Director	20/09/2010	14/05/2010	-	Active	NO
55	U61100AP2008PTC059256	Krishna Seaways Private Limited	Director	17/05/2010	17/05/2010	-	Active	NO
56	U70102KA2010PTC054840	Nava Vishwa Sashi Vijaya Krishna Properties Private Limited	Director	18/08/2010	18/08/2010	-	Active	NO
57	U11100AP2010PTC071609	South East Oil Company Private Limited	Director	10/12/2010	10/12/2010	-	Active	NO
58	U23101AP2010PTC071749	Nellore Coke Company Private Limited	Director	20/12/2010	20/12/2010	-	Active	NO
59	U23101AP2011PTC072034	Southern Coke Company Private Limited	Director	04/01/2011	04/01/2011	-	Active	NO
60	U74999AP2011PTC075333	Prinasubham Importexport Private Limited	Director	04/07/2011	04/07/2011	-	Active	NO
61	U45209AP2011PTC075951	Navayuga Tollways Private Limited	Director	12/08/2011	12/08/2011	-	Active	NO

Name :	Mr. Legala Vijay Anand Reddy
Designation :	Director
Date of Birth/Age :	03.06.1973
Date of Appointment :	18.03.2010
DIN No.:	01474520

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	U72200AP2000PLC035176	Mapworld Technologies Limited	Director	25/08/2000	25/08/2000	22/05/2010	Active	NO
2	U72200AP2004PTC044662	Navayuga Spatial Technologies Private Limited	Director	22/11/2004	22/11/2004	-	Active	NO
3	U74900AP2007PTC054344	Gateway Media Private Limited	Director	20/06/2007	20/06/2007	22/05/2010	Active	NO
4	U72900AP2002PTC038412	Spatial Networks Private Limited	Director	11/02/2008	11/02/2008	-	Active	NO
5	U72200AP2007PTC056771	Innowe Software Solutions Private Limited	Director	25/08/2008	25/08/2008	-	Active	NO
6	U45203AP1996PLC023529	Krishnapatnam Port Company Limited	Whole-time director	09/10/2009	24/08/2009	-	Active	NO
7	U72200AP2009PTC065071	Imatics Technologies Private Limited	Director	16/09/2009	16/09/2009	-	Active	NO
8	U62100AP2007PTC054340	Navayuga Flytech Private Limited	Director	05/10/2009	05/10/2009	11/02/2010	Active	NO
9	U74990AP2010PTC067589	Subham Corporation Private Limited	Director	18/03/2010	18/03/2010	-	Active	NO
10	U11100AP2010PTC071609	South East Oil Company Private Limited	Director	10/12/2010	10/12/2010	-	Active	NO
11	U23101AP2011PTC072034	Southern Coke Company Private Limited	Director	04/01/2011	04/01/2011	-	Active	NO
12	U74999AP2011PTC075333	Prinasubham Importexport Private Limited	Director	04/07/2011	04/07/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Manikumar
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 20.09.2010

Names of Shareholders	No. of Shares
Chinta Sasidhar	9999
C Visweswara Rao	1
Total	10000

AS ON 20.09.2010

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00
	Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Coal
Imports :
Products :	Coal
Countries :	Indonesia, Singapore
Terms :
Selling :	Cash, Credit (30-60 Days)
Purchasing :	L/C, Cash, Credit (30-60 Days)

GENERAL INFORMATION

Customers :	· Retailers · End Users · OEM’s · Industries
No. of Employees :	5 Approximately
Bankers :	ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda 390015, Gujarat, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	C Venkat Krishna and Company Chartered Accountant
Address :	909 A, Raghavaratna Tower, Chirag Ali Lane, Abids, Hyderabad 500001, Andhra Pradesh, India
Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

AS ON 20.09.2010

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
10000	Equity Shares	Rs. 10 each	Rs.0.100 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.433
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.011)
NETWORTH		0.522
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.522
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.096
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		0.096
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities	0.011
	Provisions	0.000
Total Current Liabilities		0.011
Net Current Assets		0.085
MISCELLANEOUS EXPENSES		0.437
TOTAL		0.522

PROFIT & LOSS ACCOUNT

Particulars	31.03.2011
Sales Turnover (Approximately)	220.000

Expected Sales (2011-2012) : Rs.500.000 millions

The above information has been parted by Mr. Manikumar (Accountant)

	PARTICULARS		31.03.2010
	SALES
		Sales	0.000
		Other Income	0.000
		TOTAL (A)	0.000
Less	EXPENSES
		Audit Fee	0.011
		TOTAL (B)	0.011
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.011)
Less	FINANCIAL EXPENSES (D)		0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.011)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000
	PROFIT /(LOSS) FOR THE YEAR		(0.011)

KEY RATIOS

PARTICULARS		31.03.2010
PAT / Total Income	(%)	NA
Net Profit Margin (PBT/Sales)	(%)	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA
Return on Investment (ROI) (PBT/Networth)		NA
Debt Equity Ratio (Total Liability/Networth)		0.02
Current Ratio (Current Asset/Current Liability)		8.72

LOCAL AGENCY FURTHER INFORMATION

FORM 8

Corporate identity number of the company	U74990AP2010PTC067589
Name of the company	SUBHAM CORPORATION PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	# 1259, Lakshmi Towers, Road No. 36, Jubilee Hills, Hyderabad 500033, Andhra Pradesh, India
This form is for	Modification of charge
Type of charge	Book debts Others
Particular of charge holder	ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda 390015, Gujarat, India Email: shanthi.venkatesan@icicibank.com
Nature of instrument creating charge	supplemental Deed Hypothecation (WCF)
Date of instrument Creating the charge	30.08.2011
Amount secured by the charge	Rs. 2520.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest I-Base and spread per annum plus applicable interest tax or other statutory levy as on date I-Base is 9.5% and spread is 4.25% Terms of repayment repayment on demand in respect of the overdraft facility payment on maturity date or installments as agreed upon but within the validity period of the WCDL facility Margin OD- Nil WCDl-Nil Lc- Nil Bc-Nil BG- Guarantees Covering disputes liabilities-100% - Performance guarantees- Nil Extent and operation of the charge 1) Corporate Guarantee of Navayuga Engineering Company Limited 2)1st Charge by way of hypothecation of the co's entire stocks of raw material, semi -finished and finished goods, consumable stores and spares and such other movables including book-debts, bills whether documentary or clean, outstanding monies, receivables, both present and future, in a form and manner satisfactory to the Bank
Short particulars of the property charged (Including location of the property)	Corporate Guarantee of Navayuga Engineering Company Limited 1st Charge by way of hypothecation of the co's entire stocks of raw material, semi-finished and finished goods, consumable stores and spares and other movables including book-debts, bills present and future
Particulars of the present modification	letters of Credit limit has been increased from Rs.1500 millions to Rs.2500.000 millions

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter's background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last One years	Yes
12) Profitability for last three years	--
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	--
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

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.78.65
Euro	1	Rs.67.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.