1. Summary Information

		Country	India
Company Name	COAST LINE SHIPPING (INDIA) PRIVATE LIMITED	Principal Name 1	Mr. Amit Keval Seth
Status	Satisfactory	Principal Name 2	Mr. Rajesh Sunderlal Bahl
		Registration #	11-145587
Street Address	71, Mittal Tower, "A' Wing, Nariman Point, Mumbai – 400021, Maharashtra, India
Established Date	08.04.2004	SIC Code	--
Telephone#	91-22-66548688	Business Style 1	Barge Ship Chartering
Fax #	91-22-66541623	Business Style 2	--
Homepage	--	Product Name 1	--
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.8,000,000	Product Name 3	--
Shareholders	Directors or relatives of Directors – 96% Other top fifty shareholders - 04%	Banking	HDFC Bank
Public Limited Corp.	--	Business Period	7 Years
IPO	--	International Ins.	-
Public Enterprise	--	Rating	Ba (45)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	71,807,000	Current Liabilities	26,269,000
Inventories	0,000	Long-term Liabilities	52,473,000
Fixed Assets	110,790,000	Other Liabilities	1,621,000
Deferred Assets	0,000	Total Liabilities	80,363,000
Invest& other Assets	15,025,000	Retained Earnings	109,259,000
		Net Worth	117,259,000
Total Assets	197,622,000	Total Liab. & Equity	197,622,000
Total Assets (Previous Year)	202,818,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Total Income	211,079,000	Net Profit	7,592,000
Total Income (Previous yr)	125,234,000	Net Profit(Prev.yr)	6,876,000

MIRA INFORM REPORT

Report Date :

08.10.2011

IDENTIFICATION DETAILS

Name :	COAST LINE SHIPPING (INDIA) PRIVATE LIMITED
Registered Office :	71, Mittal Tower, "A' Wing, Nariman Point, Mumbai – 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	08.04.2004
Com. Reg. No.:	11-145587
Capital Investment / Paid-up Capital :	Rs.8.000 Millions
CIN No.: [Company Identification No.]	U61100MH2004PTC145587
TAN No.: [Tax Deduction & Collection Account No.]	MUMC12716E
PAN No.: [Permanent Account No.]	AACCC4110G
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in activities of Barge and Ship chartering Business, the production and sale of such services can not be expressed in any genetic units and hence it is not possible to provide any quantitative details of the same.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 469000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track records. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for business dealings at usual 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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
India	A1	A1

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

LOCATIONS

Registered Office :	71, Mittal Tower, "A' Wing, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-66548688 / 22878688 / 66548689 / 22878689
Fax No.:	91-22-66541623
E-Mail :	amar@geochemgroup.com amit@coastlineindia.com

DIRECTORS

As on 30.09.2010

Name :	Mr. Amit Keval Seth
Designation :	Managing director
Address :	17B, Malabar Apartment, Napean Sea Road, Mumbai 400036, Maharashtra, India
Date of Birth/Age :	10.10.1974
Date of Appointment :	24.06.2004
DIN No.:	00364109

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	U61100MH2004PTC145587	Coast Line Shipping (India) Private Limited	Managing director	24-06-04	24-06-04	-	Active	NO
2	U35110MH2006PTC160145	Castle Ships Private Limited	Director	01-03-06	01-03-06	-	Active	NO
3	U74900MH2008PTC188162	Ace Resources And Solutions Private Limited	Director	01-11-10	01-11-10	-	Active	NO

Name :	Mr. Rajesh Sunderlal Bahl
Designation :	Director
Address :	162A, Jolly Maker 1, Cuffe Parade, Colaba, Mumbai 40005, Maharashtra, India
Date of Birth/Age :	31.08.1951
Date of Appointment :	30/09/2005
DIN No.:	00388006

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	U74220MH1964PTC013022	Geo-Chem Laboratories Private Limited	Director	01-09-75	01-09-75	-	Active	NO
2	U85190MH1984PTC032474	Geo-Chem Laboratories (Rajkot) Private Limited	Director	24-03-84	24-03-84	-	Active	NO
3	U65990MH1984PTC032700	Labocean Investment And Leasing Private Limited	Director	30-09-96	30-09-96	-	Active	NO
4	U63090MH1997PTC106902	Samta Services (Kakinada) Private Limited	Director	27-07-97	27-07-97	-	Strike off	NO
5	U85195MP1998PTC012690	Geochem Laboratories (Indore) Private Limited	Director	12-03-98	12-03-98	-	Active	NO
6	U73100MH1999PTC118185	Carbon Inspect India Private Limited	Director	05-02-99	05-02-99	-	Strike off	NO
7	U61100MH2004PTC145587	Coast Line Shipping (India) Private Limited	Director	30-09-05	30-09-05	-	Active	NO
8	U35110MH2006PTC160145	Castle Ships Private Limited	Director	29-12-06	29-12-06	-	Active	NO
9	U93000MH2008PTC186282	Geo-Chem Insurance Surveyors And Loss Assessors Private Limited	Director	28-08-08	28-08-08	20-10-08	Active	NO
10	U01403MH2008PTC186482	Mora Estates Private Limited	Director	04-09-08	04-09-08	-	Active	NO
11	U15132MH2009PTC194620	Penn Frozen Foods Private Limited	Director	04-08-09	04-08-09	-	Active	NO
12	U01403MH2011PTC217623	Nandgaon Farms Private Limited	Director	18-05-11	18-05-11	-	Active	NO
13	U74999MH2011PTC220642	Kool Aid Cold Storages Private Limited	Director	08-08-11	08-08-11	-	Active	NO

Name :	Mr. Dilip John Desa
Designation :	Director
Date of Appointment :	24.03.2007
DIN No.:	00364213

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	U63090MH1985PLC037372	Seatrans Shipping Limited	Director	28-09-89	28-09-89	-	Active	NO
2	U61100MH2004PTC145587	Coast Line Shipping (India) Private Limited	Director	24-03-07	24-03-07	-	Active	NO
3	U74120MH2011PTC221111	Shiplift Techno Solutions Private Limited	Director	20-08-11	20-08-11	-	Active	NO

Name :	Mr. Michal Xavier Raja Nadar
Designation :	Director
Address :	Room # 165, Ravolai Camp, Sion Koliwada, Mumbai 400037, Maharashtra, India
Date of Birth/Age :	07/07/1969
Date of Appointment :	24.06.2004
DIN No.:	02125096

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
1	U61100MH2004PTC145587	Coast Line Shipping (India) Private Limited	Director	24-06-04	24-06-04	-	Active
2	U74990MH2009PTC194853	S S Muthu Enterprises Private Limited	Director	11-08-09	11-08-09	-	Active
3	U74900MH2011PTC221164	Noah's Ark Trade (India) Private Limited	Director	23-08-11	23-08-11	-	Active

Name :	Mr. Anish Dinesh Bahl
Designation :	Director
Address :	92B, Jolly Maker 1, Cuffe Parade, Colaba, Mumbai 400002, Maharashtra, India
Date of Birth/Age :	15/05/1976
Date of Appointment :	30.09.2005
DIN No.:	00844453

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	U51497WB1992PTC056848	Pestalert Chemicals Private Limited	Director	01-02-98	01-02-98	-	Active	NO
2	U85195MP1998PTC012690	Geochem Laboratories (Indore) Private Limited	Director	01-10-99	01-10-99	-	Active	NO
3	U73100MH2003PTC143129	Ace Bio Med Private Limited	Director	14-11-03	14-11-03	-	Active	NO
4	U74220MH1964PTC013022	Geo-Chem Laboratories Private Limited	Director	01-04-04	01-04-04	-	Active	NO
5	U55200MH2004PTC146018	Mood Foods (India) Private Limited	Director	15-09-04	15-09-04	-	Active	NO
6	U61100MH2004PTC145587	Coast Line Shipping (India) Private Limited	Director	30-09-05	30-09-05	-	Active	NO
7	U85190MH1984PTC032474	Geo-Chem Laboratories (Rajkot) Private limited	Director	12-03-07	12-03-07	-	Active	NO
8	U93000MH2008PTC186282	Geo-Chem Insurance Surveyors And Loss Assessors Private Limited	Director	28-08-08	28-08-08	-	Active	NO

Name :	Mr. Neel Rajesh Bahl
Designation :	Director
Date of Birth/Age :	25/01/1979
Date of Appointment :	09.11.2009
DIN No.:	00983053

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	U51497WB1992PTC056848	Pestalert Chemicals Pvt Ltd	Director	01-02-98	01-02-98	-	Active	NO
2	U73100MH2003PTC143129	Ace Bio Med Private Limited	Director	14-11-03	14-11-03	-	Active	NO
3	U55200MH2004PTC146018	Mood Foods (India) Private Limited	Director	15-09-04	15-09-04	-	Active	NO
4	U85190MH1984PTC032474	Geo-Chem Laboratories (Rajkot) Pvt Ltd	Director	12-03-07	12-03-07	-	Active	NO
5	U74220MH1964PTC013022	Geo-Chem Laboratories Private Limited	Director	12-03-07	12-03-07	-	Active	NO
6	U93000MH2008PTC186282	Geo-Chem Insurance Surveyors And Loss Assessors Private Limited	Director	28-08-08	28-08-08	20-10-08	Active	NO
7	U61100MH2004PTC145587	Coast Line Shipping (India) Private Limited	Director	09-11-09	09-11-09	-	Active	NO

Name :	Mr. Desa Eric Dilip
Designation :	Director
Address :	14, Saras Baug, Deonar, Mumbai 400088, Maharashtra, India
Date of Birth/Age :	30.01.1976
Date of Appointment :	08.04.2004

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Amit Seth	160000
Dilip Desa	160000
S.Micheal Xavier Raja	160000
Rajesh Bahl	204000
Rajiv Bahl	24000
Anish Bahl	48000
Kshitej Bahl	12000
Adrian D’Souza	32000
Total	800000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Directors or relatives of Directors	96.00
Other top fifty shareholders	4.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in activities of Barge and Ship chartering Business, the production and sale of such services can not be expressed in any genetic units and hence it is not possible to provide any quantitative details of the same.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• The Saraswat Co-Op Bank Limited, Ballard Estate Branch, Ballard Estate, Mumbai - 400001, Maharashtra, India

• HDFC Bank

• ICICI Bank

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Bank Term Loan HDFC Bank (secured against hypothecation of office premises and third party corporate guarantee) (Amount payable within a year Rs.1.183 Millions previous year Rs.0.976 Million)	1.330	2.306
Bank Term Loan Saraswat Bank (secured against hypothecation of Barges of the company and personal Guarantee of Directors) (Amount payable within a year Rs.11.472 Millions Previous year Rs.8.541 Millions)	26.907	40.295
Bank Term Loan ICICI Bank for Car and two wheeler Loan (secured against hypothecation of Vehicles purchased) (Amount payable within a year0.023 Million Previous Year Rs.0.145)	0.023	0.168
Bank Overdraft (Secured against book debts of the company)	6.415	8.695
Total	34.675	51.464
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Directors and their Relatives	15.331	18.031
From Others	2.467	2.867
Total	17.798	20.898

Banking Relations :	--
Auditors :
Name :	Dalal Doctor and Associates Chartered Accountants
Address :	305, T.V. Estate, S.K.Shinde Marg, Worli, Mumbai – 400025, Maharashtra, India
Tel. No.:	91-22-66625050
Mobile No.:	91-9867555050 / 9867555051
Fax No.:	91-22-66627890
E-Mail :	sp@dalaldoctor.com
Website :	www.dalaldoctor.com
PAN.:	AACFD9379H

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
800000	Equity Shares	Rs.10/- each	Rs.8.000 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		8.000	8.000	8.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		109.259	96.491	91.019
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		117.259	104.491	99.019
LOAN FUNDS
1] Secured Loans		34.675	51.464	17.753
2] Unsecured Loans		17.798	20.898	16.786
TOTAL BORROWING		52.473	72.362	34.539
DEFERRED TAX LIABILITIES		1.621	1.821	1.315
TOTAL		171.353	178.674	134.873
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		110.790	122.125	89.033
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		15.025	22.243	9.025
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	29.085	36.157	20.507
	Cash & Bank Balances	18.990	4.352	8.896
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	23.732	17.941	38.900
Total Current Assets		71.807	58.450	68.303
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	18.764	15.201	14.030
	Other Current Liabilities	4.401	6.506	3.667
	Provisions	3.104	2.437	13.791
Total Current Liabilities		26.269	24.144	31.488
Net Current Assets		45.538	34.306	36.815
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		171.353	178.674	134.873

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income
		Other Income
		TOTAL (A)	211.079	125.234	161.976
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	164.704 (Including Financial Expenses)	95.405 (Including Financial Expenses)	123.226
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)				38.750
Less	FINANCIAL EXPENSES (D)				2.586
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		46.375	29.829	36.164
Less/ Add	DEPRECIATION/ AMORTISATION (F)		24.150	18.705	18.169
	PROFIT BEFORE TAX (E-F) (G)		22.225	11.124	17.995
Less	TAX (H)		14.633	4.248	5.669
	PROFIT AFTER TAX (G-H) (I)		7.592	6.876	12.326
	BALANCE CARRIED TO THE B/S		41.827	30.559	25.801
	EARNINGS IN FOREIGN CURRENCY
		Charter Hire Charges(Ship)	3.141	3.913	15.758
		Capital Goods	0.000	0.507	0.000
		Other Earnings	0.000	0.000	0.000
	TOTAL EARNINGS		3.141	4.420	15.758
	Earnings Per Share (Rs.)		18.29	8.63	15.41

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	3.60	5.49	7.61
Return on Total Assets (PBT/Total Assets}	(%)	12.17	6.16	11.44
Return on Investment (ROI) (PBT/Networth)		0.19	0.11	0.18
Debt Equity Ratio (Total Liability/Networth)		0.67	0.92	0.67
Current Ratio (Current Asset/Current Liability)		2.73	2.42	2.17

LOCAL AGENCY FURTHER INFORMATION

FORM 8

Corporate identity number of the company	U61100MH2004PTC145587
Name of the company	COAST LINE SHIPPING (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	71, Mittal Tower, "A" Wing, 7th Floor, Nariman Point, Mumbai - 400021 Maharashtra, India E-Mail : amar@geochemgroup.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10261878
Type of charge	Ship
Particular of charge holder	The Saraswat Co-operative Bank Limited, SME Nariman Point Branch, Mittal Court A Wing, 1st Floor,Vidhan Bhavan Marg, Nariman Point, Mumbai – 400021, Maharashtra, India E-Mail : njbhatia@rediffmail.com
Nature of instrument creating charge	3 Indentures
Date of instrument Creating the charge	06.06.2011
Amount secured by the charge	Rs.72.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest 12% p.a. or at such rate as maybe determined by the bank from time to time Terms of repayment 52 months Margin 20% Extent and operation of the charge This is term loan facility
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Mortgage on vessel M V Maratha Coral having official no 2799 belonging to the company Mortgage on vessel D B Regina having belonging to the company Mortgage on vessel M V Maratha Courage having official no 2504 having belonging to the company Mortgage of 4 barges Sneha, Gold Star, Saaha and Coast VII continues as security for the present facility
Particulars of the present modification	Additional Mortgage on vessel M V Maratha Coral, D B Regina, M V Maratha Courage is provided for term loan facility . Overall limit remains unchanged at Rs72.000 Millions.

COTINGENT LIABILITIES

(Rs. In Millions)

PARTICULARS	31.03.2010	31.03.2009
Gurantee provided to The Controller of Rationing Office, Mumbai – 400020. (Towards release of Barges Sneha and Tug Gold Star)	12.390	12.390
Fixed Deposits ( Pledged with Bank for issue of this gurantee)	2.195	2.195

FIXED ASSETS

• Barges and Tugs
• Computer and Peripherals
• Plant and Machinery
• Office Equipments
• Motor Car
• Motor Cycle
• Office Premises
• Furniture and Fixtures

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] 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.49.14
UK Pound	1	Rs.75.97
Euro	1	Rs.66.00

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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.