MIRA INFORM REPORT

Report Date :

23.11.2011

IDENTIFICATION DETAILS

Name :	ANUBHAV BIOTECH LIMITED
Registered Office :	M/s Ray and Ghosh, 7A,Hospital Street, Kolkata- 700072, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.07.2008
Com. Reg. No.:	21-127698
Capital Investment / Paid-up Capital :	Rs.14.165 Millions
CIN No.: [Company Identification No.]	U74999WB2008PTC127698
TAN No.: [Tax Deduction & Collection Account No.]	CALA12177E
PAN No.: [Permanent Account No.]	AAHCA26710
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter, Supplier and Trader of Phytochemical, Bio-fertilizers, Bio-pesticides, Active Pharmaceutical Ingredients.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 128664
Status :	Moderate
Payment Behavior :	Slow But Correct
Litigation :	Clear
Comments :	Subject is a new company having moderate track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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 – April 1, 2010

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. Rohit kumar Jha
Designation :	Marketing Executive
Date :	19.11.2011

LOCATIONS

Registered Office :	M/s Ray and Ghosh, 7A, Hospital Street, Kolkata – 700072, West Bengal, India
Mobile No.:	91-9903228944 (Mr. Rohit Kumar Jha)
E-Mail :	anubhavbiotechltd@gmail.com info@anubhavbiotech.com
Website :	www.anubhavbiotech.com
Location :	Owned
Corporate Office :	HB-226, Salt Lake City, Sector – III, Kolkata – 700091, West Bengal, India
Tel. No.:	91-33-40602094/40602095/40602097
Fax No.:	91-33-40602096
E-Mail :	info@anubhavbiotech.com
Factory 1 :	152, Nath Musalman Para, P.O. Harinavi, South 24 Parganas, Kolkata – 700148, West Bengal, India
Tel. No.:	91-33-24271589/24271590/24271591

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Pradosh Kumar Janaray
Designation :	Director
Date of Appointment :	21.07.2008

Directorship in Other Companies :

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	U74300WB1992PTC056940	JVINE INTERMEDIARIES PVT.LTD.	Director	27/10/2005	27/10/2005	-	Active	NO
2	U15511AR2001PTC006608	EASTERN HIMALAYA BREWERIES PRIVATE LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
3	U74999WB2008PLC127698	ANUBHAV BIOTECH LIMITED	Director	21/07/2008	21/07/2008	-	Active	NO
4	U45209WB2008PLC127901	ANUBHAV HIRISE LIMITED.	Director	25/07/2008	25/07/2008	-	Active	NO
5	U15400WB2009PTC132334	ANUBHAV FOOD PROCESSING PRIVATE LIMITED	Director	30/01/2009	30/01/2009	-	Active	NO
6	U15122WB2010PLC143893	GOLD BREWERIES COMPANY LIMITED	Director	18/03/2010	18/03/2010	-	Active	NO
7	U52190WB2009PTC138880	RESPECT SALES PRIVATE LIMITED	Director	01/01/2011	01/01/2011	10/08/2011	Active	NO
8	U74210WB1991PTC051100	SPARK STEEL & ECONOMY RESEARCH CENTRE PVT LTD	Additional director	10/08/2011	10/08/2011	-	Active	NO

Name :	Mr. Asit Kumar Ghosh
Designation :	Director
Date of Appointment :	21.07.2008

Directorship in Other Companies :

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	U15511AR2001PTC006608	EASTERN HIMALAYA BREWERIES PRIVATE LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
2	U51109WB1994PTC066339	NIRBHAY MERCHANTS PVT LTD	Director	29/04/2008	29/04/2008	-	Active	NO
3	U74999WB2008PLC127698	ANUBHAV BIOTECH LIMITED	Director	21/07/2008	21/07/2008	-	Active	NO
4	U45209WB2008PLC127901	ANUBHAV HIRISE LIMITED.	Director	25/07/2008	25/07/2008	-	Active	NO
5	U15400WB2009PTC132334	ANUBHAV FOOD PROCESSING PRIVATE LIMITED	Director	30/01/2009	30/01/2009	-	Active	NO
6	U92100WB2009PTC136963	SHIBANI MOTION PICTURE PRIVATE LIMITED	Director	20/07/2009	20/07/2009	-	Active	NO
7	U51909WB2008PTC129368	VIDULA AGENCY PRIVATE LIMITED	Director	08/09/2009	08/09/2009	-	Active	NO
8	U52190WB2009PTC139055	SUNRISE E-SERVICES PRIVATE LIMITED	Director	27/10/2009	27/10/2009	-	Active	NO
9	U52300WB2009PTC139092	ORBIT MERCHANT PRIVATE LIMITED	Director	28/10/2009	28/10/2009	-	Active	NO
10	U52190WB2009PTC139093	HAWK SALES PRIVATE LIMITED	Director	28/10/2009	28/10/2009	-	Active	NO
11	U52190WB2009PTC139116	RELINE DEVELOPERS PRIVATE LIMITED	Director	30/10/2009	30/10/2009	-	Active	NO
12	U52190WB2009PTC139126	READY CONSTRUCTION PRIVATE LIMITED	Director	30/10/2009	30/10/2009	-	Active	NO
13	U15122WB2010PLC143893	GOLD BREWERIES COMPANY LIMITED	Director	18/03/2010	18/03/2010	-	Active	NO
14	U52190WB2011PTC159589	AMRITPATH SUPPLIERS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
15	U52190WB2011PTC159594	AXISLINE MERCHANTS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
16	U52190WB2011PTC159595	AXISLINE SUPPLIERS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
17	U52190WB2011PTC159597	DHARMIK MERCHANTS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
18	U52190WB2011PTC159598	DIKSHA DISTRIBUTORS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
19	U52190WB2011PTC159599	FASTNER TRADELINK PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
20	U52190WB2011PTC159602	LANDCRAFT DEALERS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
21	U52190WB2011PTC159620	ALBATROSS DISTRIBUTORS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
22	U52190WB2011PTC159621	ALBATROSS TRADELINK PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
23	U52190WB2011PTC159622	AMRITPATH AGENCIES PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
24	U52190WB2011PTC159629	LEMONGRASS AGENCIES PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
25	U52190WB2011PTC159630	AMRITPATH MERCHANTS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
26	U52190WB2011PTC159633	AMRITPATH SALES PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
27	U52190WB2011PTC159637	LEMONGRASS MERCHANTS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
28	U52190WB2011PTC159638	GOODGAIN DEALERS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	-	Active	NO
29	U52190WB2011PTC159636	LEMONGRASS MARKETING PRIVATE LIMITED	Director	22/02/2011	22/02/2011	21/09/2011	Active	NO
30	U52190WB2011PTC159639	LEMONGRASS TRADERS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	21/09/2011	Active	NO
31	U52190WB2011PTC159640	MODLINE DISTRIBUTORS PRIVATE LIMITED	Director	22/02/2011	22/02/2011	21/09/2011	Active	NO
32	U52190WB2011PTC159708	MODLINE SUPPLIERS PRIVATE LIMITED	Director	23/02/2011	23/02/2011	21/09/2011	Active	NO
33	U52190WB2011PTC159713	UNIGROWTH DISTRIBUTORS PRIVATE LIMITED	Director	23/02/2011	23/02/2011	21/09/2011	Active	NO
34	U52190WB2011PTC159660	LEMONGRASS SUPPLIERS PRIVATE LIMITED	Director	23/02/2011	23/02/2011	21/09/2011	Active	NO
35	U52190WB2011PTC159664	MODLINE MARKETING PRIVATE LIMITED	Director	23/02/2011	23/02/2011	21/09/2011	Active	NO
36	U52190WB2011PTC159666	MODLINE SALES PRIVATE LIMITED	Director	23/02/2011	23/02/2011	21/09/2011	Active	NO
37	U52190WB2011PTC159695	SUNFLAG MARKETING PRIVATE LIMITED	Director	23/02/2011	23/02/2011	21/09/2011	Active	NO
38	U52190WB2011PTC159757	UNIGROWTH MARKETING PRIVATE LIMITED	Director	24/02/2011	24/02/2011	21/09/2011	Active	NO

Name :	Mrs. Barnali Ghosh
Designation :	Director
Date of Appointment :	21.07.2008

Directorship in Other Companies :

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	U51109WB1994PTC066339	NIRBHAY MERCHANTS PVT LTD	Director	04/06/2007	04/06/2007	-	Active	NO
2	U51109WB2007PTC116042	DEACON TRACOM PRIVATE LIMITED	Director	14/12/2007	14/12/2007	-	Active	NO
3	U51109WB2007PTC120097	SPAN VINIMAY PRIVATE LIMITED	Director	14/12/2007	14/12/2007	-	Active	NO
4	U15511AR2001PTC006608	EASTERN HIMALAYA BREWERIES PRIVATE LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
5	U74999WB2008PLC127698	ANUBHAV BIOTECH LIMITED	Director	21/07/2008	21/07/2008	-	Active	NO
6	U45209WB2008PLC127901	ANUBHAV HIRISE LIMITED.	Director	25/07/2008	25/07/2008	-	Active	NO
7	U51909WB2008PTC129355	GALVIN AGENCY PRIVATE LIMITED	Director	26/09/2008	26/09/2008	-	Active	NO
8	U51909WB2008PTC129368	VIDULA AGENCY PRIVATE LIMITED	Director	26/09/2008	26/09/2008	11/02/2011	Active	NO
9	U15400WB2009PTC132334	ANUBHAV FOOD PROCESSING PRIVATE LIMITED	Director	30/01/2009	30/01/2009	-	Active	NO
10	U92100WB2009PTC136963	SHIBANI MOTION PICTURE PRIVATE LIMITED	Director	20/07/2009	20/07/2009	-	Active	NO
11	U52190WB2009PTC139055	SUNRISE E-SERVICES PRIVATE LIMITED	Director	27/10/2009	27/10/2009	11/02/2011	Active	NO
12	U52300WB2009PTC139092	ORBIT MERCHANT PRIVATE LIMITED	Director	28/10/2009	28/10/2009	11/02/2011	Active	NO
13	U52190WB2009PTC139093	HAWK SALES PRIVATE LIMITED	Director	28/10/2009	28/10/2009	11/02/2011	Active	NO
14	U52190WB2009PTC139116	RELINE DEVELOPERS PRIVATE LIMITED	Director	30/10/2009	30/10/2009	11/02/2011	Active	NO
15	U52190WB2009PTC139126	READY CONSTRUCTION PRIVATE LIMITED	Director	30/10/2009	30/10/2009	11/02/2011	Active	NO
16	U15122WB2010PLC143893	GOLD BREWERIES COMPANY LIMITED	Director	18/03/2010	18/03/2010	-	Active	NO
17	U52190WB2011PTC159639	LEMONGRASS TRADERS PRIVATE LIMITED	Director	21/09/2011	21/09/2011	-	Active	NO
18	U52190WB2011PTC159664	MODLINE MARKETING PRIVATE LIMITED	Director	21/09/2011	21/09/2011	-	Active	NO
19	U52190WB2011PTC159666	MODLINE SALES PRIVATE LIMITED	Director	21/09/2011	21/09/2011	-	Active	NO
20	U52190WB2011PTC159708	MODLINE SUPPLIERS PRIVATE LIMITED	Director	21/09/2011	21/09/2011	-	Active	NO
21	U52190WB2011PTC159713	UNIGROWTH DISTRIBUTORS PRIVATE LIMITED	Director	21/09/2011	21/09/2011	-	Active	NO

Name :	Ms. Baisakhi Saha
Designation :	Director
Date of Birth :	14.04.1973
Date of Appointment :	07.07.2009

Directorship in Other Companies :

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	U74999WB2008PLC127698	ANUBHAV BIOTECH LIMITED	Director	07/07/2009	07/07/2009	-	Active	NO

Name :	Ms. Santanu Chakraborty
Designation :	Director
Date of Birth :	21.11.1965
Date of Appointment :	21.12.2009

Directorship in Other Companies :

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	U24234WB2008PTC125156	BHARSA BIO-TECH-SOLUTION PRIVATE LIMITED	Director	18/03/2009	18/03/2009	02/01/2011	Active	NO
2	U74999WB2008PLC127698	ANUBHAV BIOTECH LIMITED	Director	21/12/2009	21/12/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 22.07.2009

Names of Shareholders	No. of shares
Mr. P.K. Jana Ray	600
Mr. Asit ghosh	800
Mrs. Barnali ghosh	600
Mr. Shyamal Kanti Roy	600
Mr. Santanu Chakra Borty	600
Mr. Kaustav Chatterjee	600
Mr. Mihir Das	600
Mrs. Baisakhi Saha	600
TOTAL	5000

AS ON 30.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter, Supplier and Trader of Phytochemical, Bio-fertilizers, Bio-pesticides, Active Pharmaceutical Ingredients.
Exports :
Products :	Phytochemical, Bio Fertilizers
Countries :	European Countries
Imports :
Products :	Raw Material
Countries :	China, Japan
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Customers :	End Users OEM’s
No. of Employees :	100 (Approximately)
Bankers :	· Axis Bank, Kolkata, India · UBI Bank, Kolkata, India
Auditors :
Name :	Mr. S B And Associates Chartered Accountants
Address :	AB-16, Salt Lake City, Kolkata – 700064, West Bengal, India
Tel. No.:	91-65202588/23583269
E-Mail :	ca_subratabannerjee@yahoo.com
Associates/ Subsidiaries :	NIL

CAPITAL STRUCTURE

As On 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Share	Rs.10/- each	Rs. 2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1416500	Equity Share	Rs.10/- each	Rs.14.165 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		14.165	12.560	0.500
2] Share Application Money		1.950	2.800	0.000
3] Reserves & Surplus		16.051	0.000	0.000
4] (Accumulated Losses)		0.000	(0.147)	0.000
NETWORTH		32.166	15.213	0.500
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.600	13.000	18.460
TOTAL BORROWING		0.600	13.000	18.460
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		32.766	28.213	18.960
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		17.850	12.673	4.015
Capital work-in-progress		5.474	2.865	1.216
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.281	0.000	0.000
	Sundry Debtors	0.963	0.062	0.000
	Cash & Bank Balances	0.852	0.595	12.944
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	4.167	10.086	0.699
Total Current Assets		7.263	10.743	13.643
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor and other current liabilities	5.568	0.266	0.003
	Provisions	0.000	0.000	0.000
Total Current Liabilities		5.568	0.266	0.003
Net Current Assets		1.695	10.477	13.640
MISCELLANEOUS EXPENSES		0.120	0.161	0.021
Incidental Project Expenditure		7.627	2.037	0.068
TOTAL		32.766	28.213	18.960

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	8.103	0.552
		Other Income	0.034	0.188
		TOTAL (A)	8.137	0.740
Less	EXPENSES
		Purchases	4.879	0.524
		Other Expenses	1.219	0.210
		TOTAL (B)	6.098	0.734
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.039	0.006
Less	FINANCIAL EXPENSES (D)		0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.039	0.006
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.287	0.153
	PROFIT BEFORE TAX (E-F) (G)		1.752	(0.147)
Less	TAX (I)		0.146	0.000
	PROFIT AFTER TAX (G-I) (J)		1.606	(0.147)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	19.73	(19.86)	NA
Net Profit Margin (PBT/Sales)	(%)	21.62	(26.63)	NA
Return on Total Assets (PBT/Total Assets}	(%)	6.97	(0.62)	NA
Return on Investment (ROI) (PBT/Networth)		0.05	(0.01)	NA
Debt Equity Ratio (Total Liability/Networth)		0.19	0.87	36.93
Current Ratio (Current Asset/Current Liability)		1.30	40.38	4547.66

LOCAL AGENCY FURTHER INFORMATION

Registered office of the company has been shifted from Ray and Ghosh, 7A, Hospital Street, Kolkata – 700072, West Bengal, India to the present address w.e.f. 24.04.2009

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 three years	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	--
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	--
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 records 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. 52.70
UK Pound	1	Rs. 82.44
Euro	1	Rs. 71.08

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		30

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.