MIRA INFORM REPORT

Report Date :

08.11.2011

IDENTIFICATION DETAILS

Name :	AE VALVES SPRL

Registered Office :	Champs De Foyr 73 Jalhay, Post Code 4845

Country :	Belgium

Date of Incorporation :	08.03.2010

Com. Reg. No.:	823771807

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacture of other taps and valves

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Poor

Payment Behaviour :	Unknown

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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Belgium

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

REGISTERED NAME & COMPANY SUMMARY

Company Summary

Company Summary
Business Name	AE VALVES SPRL
Business Number	823771807
Address	CHAMPS DE FOYR 73 JALHAY
Post Code	4845
Telephone	043875162
Fax Number	--
Date of Establishment	08/03/2010
Number of Employees	0

Company Information

company details
Business Number	823771807
Name	AE VALVES SPRL
Fax Number	--
Establishment Date	08/03/2010
Company Status	ACTIVE
Company Type	Private limited liability company
Activity Description	Manufacture of other taps and valves
Activity Code	28140
Liable For Vat	yes
Currency	Euro (€)

CREDIT RECOMENDATION

Current Credit Limit: No credit limit recommended.

DIRECTORS/MANAGEMENT

Directors

Company Director
Full Name	SERGE GILLES ALBERT GEROME
Position	Manager
Address	73 CHAMPS DE FOYR JALHAY
Postal Code	4845
Country	--

Company Director
Full Name	FRANCIS CARPIO MARINO
Position	Manager
Address	80 RUE DE HEUSEUX BLEGNY
Postal Code	4671
Country	--

NEGATIVE INFORMATION

Court Data

Protested Bills
Drawee Name	--
Drawee Address	--
Bill Amount
Bill Currency	--
Maturity of Bill (month)
Name of Drawer	--
City of Drawer	--

NSSO Details
Business Number
Name of Defendant	--
Legal Form of Defendant	--
Date of Summons
Labour Court	--

Bankruptcy Data
There is no bankruptcy data against this company.
Court Data Summary
bankruptcy details
Court Action Type	None
Protested Bills
Bill Amount
NSSO Details
Date of Summons	//
Latest Branch Details
Street	--
House Number
City	--
Postal Code
Trade Registered Number
Trade Registered Entry Date	//

SHARE & SHARE CAPITAL INFORMATION

Shareholders

No holding companies for this company.

PAYMENT INFORMATION

Past Payments
Payment Expectation Days
Days Sales Outstanding
Industry Average Payment Expectation Days	35.42
Industry Average Day Sales Outstanding	73.33
Industry Quartile Analysis
Payment Expectation Days
Payment Expectations - Lower	66.89
Payment Expectations - Median	72.91
Payment Expectations - Upper	78.44
Day Sales Outstanding
Day Sales Outstanding - Lower	13.11
Day Sales Outstanding - Median	36.47
Day Sales Outstanding - Upper	43.78

GROUP STRUCTURE & AFFILIATED COMPANIES

No subsidiaries for this company.

FINANCIAL INFORMATION

Accounts & Ratio

No accounts filed for this company.

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	//

Latest Event
Serial Number	184483
Event Description	Change of articles of association
Activity Code	28140
Activity Description	Manufacture of other taps and valves
Industry Comparison
Activity Code	2814
Activity Description	Manufacture of other taps and valves
Industry Average Day Sales Outstanding	73.33
Industry Average Payment Expectation Days	35.42

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.08
UK Pound	1	Rs.78.65
Euro	1	Rs.67.79

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.