MIRA INFORM REPORT

Report Date :

11.10.2011

IDENTIFICATION DETAILS

Name :	THERMOSOL GLASS PRIVATE LIMITED (w.e.f. 18.03.2011)

Formerly Known As :	THARMOSOL GLASS PRIVATE LIMITED

Registered Office :	1/9-B, Jindal House, Asaf Ali Road, New Delhi – 110002

Country :	India

Date of Incorporation :	07.03.2011

Com. Reg. No.:	215329

Capital Investment / Paid-up Capital :	Rs.0.100 Million

CIN No.: [Company Identification No.]	U26100DL2011PTC215329

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Parabolic Mirrors for Concentrated Solar Power Application.

No. of Employees :	Approximately – 15 (Projected Employees – 90)

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Company

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a new Company and yet to commence its commercial business activities. Trade relations are reported as fair. Payments are unknown. The company can be considered for business dealings on a safe 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 – April 1, 2010

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

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. Pawan Gaur
Designation :	Project Manager
Contact No.:	91-9825100421
Date :	08.10.2011

LOCATIONS

Registered Office :	1/9-B, Jindal House, Asaf Ali Road, New Delhi – 110002, India
Tel. No.:	91-11-23233022
Mobile No.:	91-9825100421 (Mr. Pawan Gaur)
Fax No.:	91-11-23237395
E-Mail :	cargodelho1@yahoo.com upreti.m@cargomotors.com cargodelhomupreti@yahoo.com info@cpil.co.in
Website :	http://www.cpil.co.in
Location :	Owned

Factory :	Located at · Gujarat (Not Yet Started)

Branch Office :	Opposite Rajpath Club, S. G. Highway, Bodakdev, Ahmedabad – 380015, Gujarat, India
Tel No.:	91-79-26872944
Fax No.:	91-79-26873126
Email :	pg@cpil.co.in

DIRECTORS

Name :

Mrs. Anita Nanda

Designation :

Director

Address :

16, Ring Road, Lajpat Nagar – IV, New Delhi – 110024, India

Date of Birth/Age :

11.12.1959

Date of Appointment :

07.03.2011

DIN No.:

00035231

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	U50101DL1959PTC003124	CARGO MOTORS PRIVATE LIMITED	Director	31-12-88	31-12-88	-	Active	NO
2	U65910DL1983PLC015912	DEEKSHA HOLDING LIMITED	Director	02-01-89	02-01-89	-	Active	NO
3	U74899DL1955PTC002467	KARRIERS FINANCE PRIVATE LIMITED	Director	06-11-95	06-11-95	-	Active	NO
4	U45201DL1997PTC089427	CARGO CONSTRUCTION COMPANY PRIVATE LIMITED	Director	04-09-97	04-09-97	-	Active	NO
5	U74899DL1983PTC015801	CARGO MOTORS PUNJAB PRIVATE LIMITED	Director	26-06-01	26-06-01	-	Active	NO
6	U40108DL2003PTC121617	CARGO-ZANDJ TECHNOLOGIES PRIVATE LIMITED	Director	04-08-03	04-08-03	-	Active	NO
7	U50101DL2004PTC126082	CARGO MOTORS (RAJASTHAN) PRIVATE LIMITED	Director	27-04-04	27-04-04	-	Active	NO
8	U34102DL2005PTC134888	CARGO MOTORS (KUTCH) PRIVATE LIMITED	Director	08-04-05	08-04-05	-	Active	NO
9	U27310DL2005PTC136738	CARGO POWER AND INFRASTRUCTURE PRIVATE LIMITED	Director	26-05-05	26-05-05	-	Active	NO
10	U00000PB2003PTC026233	THREE SIXTY LIFE STYLE PRIVATE LIMITED	Director	29-07-05	29-07-05	-	Active	NO
11	U74899DL1987PTC028060	GURIND SYSTEMS PRIVATE LTD.	Director	16-01-06	16-01-06	01-04-08	Active	NO
12	U60231DL2007PTC163985	CML LOGISTICS PRIVATE LIMITED	Director	25-05-07	25-05-07	-	Active	NO
13	U55101DL2007PTC164067	CARGO HOSPITALITY PRIVATE LIMITED	Director	29-05-07	29-05-07	-	Active	NO
14	U40106DL2010PTC203686	CARGO SOLAR POWER (GUJARAT) PRIVATE LIMITED	Director	05-06-10	05-06-10	-	Active	NO
15	U40106DL2010PTC203745	CARGO SOLAR POWER (RAJASTHAN) PRIVATE LIMITED	Director	07-06-10	07-06-10	-	Active	NO
16	U40108DL2010PTC204502	CARGO SOLAR POWER PRIVATE LIMITED	Director	23-06-10	23-06-10	-	Active	NO
17	U40104DL2010PTC210692	CARGO WIND POWER (GUJARAT) PRIVATE LIMITED	Director	23-11-10	23-11-10	-	Active	NO
18	U26100DL2011PTC215329	THERMOSOL GLASS PRIVATE LIMITED	Director	07-03-11	07-03-11	-	Active	NO

Name :

Mr. Aditya Nanda

Designation :

Director

Address :

16, Ring Road, Lajpat Nagar – IV, New Delhi – 110024, India

Date of Birth/Age :

15.11.1980

Date of Appointment :

07.03.2011

DIN No.:

00035037

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U45201DL1997PTC089427	CARGO CONSTRUCTION COMPANY PRIVATE LIMITED	Director	16-11-98	16-11-98	Active	NO
2	U74899DL1983PTC015801	CARGO MOTORS PUNJAB PRIVATE LIMITED	Director	26-06-01	26-06-01	Active	NO
3	U50101DL1959PTC003124	CARGO MOTORS PRIVATE LIMITED	Whole-time director	01-04-06	23-07-01	Active	NO
4	U00000PB2003PTC026233	THREE SIXTY LIFE STYLE PRIVATE LIMITED	Director	29-07-03	29-07-03	Active	NO
5	U50101DL2004PTC126082	CARGO MOTORS (RAJASTHAN) PRIVATE LIMITED	Director	27-04-04	27-04-04	Active	NO
6	U34102DL2005PTC134888	CARGO MOTORS (KUTCH) PRIVATE LIMITED	Director	16-08-05	16-08-05	Active	NO
7	U26101DL2004PTC127033	GURIND GLASS PRIVATE LIMITED	Director	16-01-06	16-01-06	Active	NO
8	U72900DL2006PTC148126	STAR INFOCOM PRIVATE LIMITED	Director	20-10-06	20-10-06	Active	NO
9	U55101DL2007PTC164067	CARGO HOSPITALITY PRIVATE LIMITED	Director	05-06-07	05-06-07	Active	NO
10	U60231DL2007PTC163985	CML LOGISTICS PRIVATE LIMITED	Director	05-06-07	05-06-07	Active	NO
11	U74899DL1987PTC028060	GURIND SYSTEMS PRIVATE LTD.	Director	01-04-08	01-04-08	Active	NO
12	U27310DL2005PTC136738	CARGO POWER AND INFRASTRUCTURE PRIVATE LIMITED	Director	30-06-09	30-06-09	Active	NO
13	U40108DL2003PTC121617	CARGO-ZANDJ TECHNOLOGIES PRIVATE LIMITED	Director	30-06-09	30-06-09	Active	NO
14	U40106DL2010PTC203686	CARGO SOLAR POWER ( GUJARAT) PRIVATE LIMITED	Director	05-06-10	05-06-10	Active	NO
15	U40106DL2010PTC203745	CARGO SOLAR POWER ( RAJASTHAN) PRIVATE LIMITED	Director	07-06-10	07-06-10	Active	NO
16	U40108DL2010PTC204502	CARGO SOLAR POWER PRIVATE LIMITED	Director	23-06-10	23-06-10	Active	NO
17	U40104DL2010PTC210692	CARGO WIND POWER ( GUJARAT) PRIVATE LIMITED	Director	23-11-10	23-11-10	Active	NO
18	U26100DL2011PTC215329	THERMOSOL GLASS PRIVATE LIMITED	Director	07-03-11	07-03-11	Active	NO
19	U35122DL2007PTC171428	AUTOVAHAN TYRES PRIVATE LIMITED	Director	30-08-11	15-06-11	Active	NO

Name :

Mr. Vimal Gujral

Designation :

Director

Address :

Plot No.204, Sector – 4, Post – Gandhidham, Kutch – 370201, Gujarat, India

Date of Birth/Age :

24.03.1950

Date of Appointment :

07.03.2011

DIN No.:

00040201

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74899DL1955PTC002467	KARRIERS FINANCE PRIVATE LIMITED	Director	06-11-95	06-11-95	Active	NO
2	U50101DL1959PTC003124	CARGO MOTORS PRIVATE LIMITED	Whole-time director	03-11-98	03-11-98	Active	NO
3	U34102DL2005PTC134888	CARGO MOTORS (KUTCH) PRIVATE LIMITED	Director	16-04-05	16-04-05	Active	NO
4	U50101DL2004PTC126082	CARGO MOTORS (RAJASTHAN) PRIVATE LIMITED	Director	30-09-10	16-11-09	Active	NO
5	U27310DL2005PTC136738	CARGO POWER AND INFRASTRUCTURE PRIVATE LIMITED	Additional director	15-07-10	15-07-10	Active	NO
6	U40106DL2010PTC203745	CARGO SOLAR POWER ( RAJASTHAN) PRIVATE LIMITED	Additional director	15-07-10	15-07-10	Active	NO
7	U40106DL2010PTC203686	CARGO SOLAR POWER ( GUJARAT) PRIVATE LIMITED	Additional director	15-07-10	15-07-10	Active	NO
8	U40104DL2010PTC210692	CARGO WIND POWER ( GUJARAT) PRIVATE LIMITED	Director	23-11-10	23-11-10	Active	NO
9	U26100DL2011PTC215329	THERMOSOL GLASS PRIVATE LIMITED	Director	07-03-11	07-03-11	Active	NO

Name :

Mr. Raj Kumari Nanda

Designation :

Director

Address :

House No.16, Ring Road, Lajpat Nagar – IV, New Delhi – 110024, India

Date of Birth/Age :

10.04.1932

Date of Appointment :

07.03.2011

DIN No.:

00040228

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U50101DL1959PTC003124	CARGO MOTORS PRIVATE LIMITED	Managing director	08-09-62	08-09-62	Active	NO
2	U50100DL1985PTC022168	CARGO MOTORS (GUJRAT) PRIVATE LIMITED	Director	28-10-85	28-10-85	Active	NO
3	U74899DL1955PTC002467	KARRIERS FINANCE PRIVATE LIMITED	Director	05-11-95	05-11-95	Active	NO
4	U45201DL1997PTC089427	CARGO CONSTRUCTION COMPANY PRIVATE LIMITED	Director	04-09-97	04-09-97	Active	NO
5	U74899DL1983PTC015801	CARGO MOTORS PUNJAB PRIVATE LIMITED	Director	26-06-01	26-06-01	Active	NO
6	U34102DL2005PTC134888	CARGO MOTORS (KUTCH) PRIVATE LIMITED	Director	08-04-05	08-04-05	Active	NO
7	U27310DL2005PTC136738	CARGO POWER AND INFRASTRUCTURE PRIVATE LIMITED	Director	26-05-05	26-05-05	Active	NO
8	U50101DL2004PTC126082	CARGO MOTORS (RAJASTHAN) PRIVATE LIMITED	Director	30-11-06	30-11-06	Active	NO
9	U60231DL2007PTC163985	CML LOGISTICS PRIVATE LIMITED	Director	25-05-07	25-05-07	Active	NO
10	U55101DL2007PTC164067	CARGO HOSPITALITY PRIVATE LIMITED	Director	29-05-07	29-05-07	Active	NO
11	U40106DL2010PTC203686	CARGO SOLAR POWER ( GUJARAT) PRIVATE LIMITED	Director	05-06-10	05-06-10	Active	NO
12	U40106DL2010PTC203745	CARGO SOLAR POWER ( RAJASTHAN) PRIVATE LIMITED	Director	07-06-10	07-06-10	Active	NO
13	U40108DL2010PTC204502	CARGO SOLAR POWER PRIVATE LIMITED	Director	23-06-10	23-06-10	Active	NO
14	U40104DL2010PTC210692	CARGO WIND POWER ( GUJARAT) PRIVATE LIMITED	Director	23-11-10	23-11-10	Active	NO
15	U26100DL2011PTC215329	THERMOSOL GLASS PRIVATE LIMITED	Director	07-03-11	07-03-11	Active	NO

Name :

Mr. Jayant Nanda

Designation :

Director

Address :

House No.16, Ring Road, Lajpat Nagar – IV, New Delhi – 110024, India

Date of Birth/Age :

10.12.1956

Date of Appointment :

07.03.2011

DIN No.:

00056740

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U50101DL1959PTC003124	CARGO MOTORS PRIVATE LIMITED	Director	16-03-83	16-03-83	Active	NO
2	U74899DL1983PTC015801	CARGO MOTORS PUNJAB PRIVATE LIMITED	Director	25-05-83	25-05-83	Active	NO
3	U50100DL1985PTC022168	CARGO MOTORS (GUJRAT) PRIVATE LIMITED	Director	28-10-85	28-10-85	Active	NO
4	U74899DL1955PTC002467	KARRIERS FINANCE PRIVATE LIMITED	Director	12-12-94	12-12-94	Active	NO
5	U45201DL1997PTC089427	CARGO CONSTRUCTION COMPANY PRIVATE LIMITED	Director	04-09-97	04-09-97	Active	NO
6	U40108DL2003PTC121617	CARGO-ZANDJ TECHNOLOGIES PRIVATE LIMITED	Director	04-08-03	04-08-03	Active	NO
7	U00000PB2003PTC026233	THREE SIXTY LIFE STYLE PRIVATE LIMITED	Director	18-03-04	18-03-04	Active	NO
8	U74899DL1987PTC028060	GURIND SYSTEMS PRIVATE LTD.	Director	26-04-04	26-04-04	Active	NO
9	U50101DL2004PTC126082	CARGO MOTORS (RAJASTHAN) PRIVATE LIMITED	Director	27-04-04	27-04-04	Active	NO
10	U26101DL2004PTC127033	GURIND GLASS PRIVATE LIMITED	Director	21-06-04	21-06-04	Active	NO
11	U34102DL2005PTC134888	CARGO MOTORS (KUTCH) PRIVATE LIMITED	Director	08-04-05	08-04-05	Active	NO
12	U27310DL2005PTC136738	CARGO POWER AND INFRASTRUCTURE PRIVATE LIMITED	Director	26-05-05	26-05-05	Active	NO
13	U60231DL2007PTC163985	CML LOGISTICS PRIVATE LIMITED	Director	25-05-07	25-05-07	Active	NO
14	U55101DL2007PTC164067	CARGO HOSPITALITY PRIVATE LIMITED	Director	29-05-07	29-05-07	Active	NO
15	U35122DL2007PTC171428	AUTOVAHAN TYRES PRIVATE LIMITED	Director	13-12-07	13-12-07	Active	NO
16	U40106DL2010PTC203686	CARGO SOLAR POWER ( GUJARAT) PRIVATE LIMITED	Director	05-06-10	05-06-10	Active	NO
17	U40106DL2010PTC203745	CARGO SOLAR POWER ( RAJASTHAN) PRIVATE LIMITED	Director	07-06-10	07-06-10	Active	NO
18	U40108DL2010PTC204502	CARGO SOLAR POWER PRIVATE LIMITED	Director	23-06-10	23-06-10	Active	NO
19	U40104DL2010PTC210692	CARGO WIND POWER ( GUJARAT) PRIVATE LIMITED	Director	23-11-10	23-11-10	Active	NO
20	U26100DL2011PTC215329	THERMOSOL GLASS PRIVATE LIMITED	Director	07-03-11	07-03-11	Active	NO

Name :

Mr. Dhruv Batra

Designation :

Director

Address :

W-11, Greater Kailash – II, Delhi – 110048, India

Date of Birth/Age :

26.11.1984

Date of Appointment :

07.03.2011

DIN No.:

02700504

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U80200DL2007PTC170407	BWI EDUCON VENTURES PRIVATE LIMITED	Director	25-06-09	25-06-09	Active	NO
2	U27310DL2005PTC136738	CARGO POWER AND INFRASTRUCTURE PRIVATE LIMITED	Director	23-11-09	23-11-09	Active	NO
3	U50101DL1959PTC003124	CARGO MOTORS PRIVATE LIMITED	Director	28-12-09	28-12-09	Active	NO
4	U40106DL2010PTC203686	CARGO SOLAR POWER ( GUJARAT) PRIVATE LIMITED	Director	05-06-10	05-06-10	Active	NO
5	U40106DL2010PTC203745	CARGO SOLAR POWER ( RAJASTHAN) PRIVATE LIMITED	Director	07-06-10	07-06-10	Active	NO
6	U40108DL2010PTC204502	CARGO SOLAR POWER PRIVATE LIMITED	Director	23-06-10	23-06-10	Active	NO
7	U26101DL2004PTC127033	GURIND GLASS PRIVATE LIMITED	Director	30-09-10	14-07-10	Active	NO
8	U74899DL1987PTC028060	GURIND SYSTEMS PRIVATE LIMITED	Director	30-09-10	14-07-10	Active	NO
9	U40104DL2010PTC210692	CARGO WIND POWER ( GUJARAT) PRIVATE LIMITED	Director	23-11-10	23-11-10	Active	NO
10	U26100DL2011PTC215329	THERMOSOL GLASS PRIVATE LIMITED	Director	07-03-11	07-03-11	Active	NO

KEY EXECUTIVES

Name :	Mr. Pawan Gaur
Designation :	Project Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders		No. of Shares

Cargo Motors Private Limited, India		9999
Aditya Nanda		1

Total		10000

BUSINESS DETAILS

Line of Business :	Manufacturer of Parabolic Mirrors for Concentrated Solar Power Application.

Terms :
Selling :	Cash and Credit (30 days)

Purchasing :	Cash and Credit (30 days)

GENERAL INFORMATION

Customers :	Wholesalers and Retailers

No. of Employees :	Approximately – 15 (Projected Employees – 90)

Bankers :	· IDBI Bank, Gujarat · The Jammu and Kashmir Bank, Gujarat


Banking Relations :	--

Auditors :	Not Available

Associates/Subsidiaries :	· Cargo Group, Delhi Line of Business: Automobile, Hospitality, Renewable Energy, Real – Estate, financial Services, Transportation, Logistics, Construction and Infrastructure Sector.

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount

11000000	Equity Share	Rs.10/- each	Rs.110.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10000	Equity Share	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

NEW COMPANY

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)

Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	-------------
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	No
Profitability for last three years	No
Reasons for variation <> 20%	No
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payments Terms	No
Export/ Imports Details (If applicable)	No
Market Information	-------------
Litigations that the firm/ Promoters Involved in	-------------
Banking details	Yes
Banking Facility Details	No
Conduct of the Banking Account	-------------
Buyer visit details	-------------
Financials, if provided	Yes
Incorporation details is applicable	-------------
Last Accounts filed at ROC	-------------
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.49.07
UK Pound	1	Rs.76.65
Euro	1	Rs.66.17

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.

MIRA INFORM REPORT

Unit