MIRA INFORM REPORT

Report Date :

31.10.2011

IDENTIFICATION DETAILS

Name :	NEOTERIC INFOMATIQUE LIMITED [w.e.f. 01.07.2000]
Formerly Known As :	NEOTERIC INFOMATIQUE PRIVATE LIMITED
Registered Office :	A -23 Shriram Industrial Estate, 13, G.D. Ambedkar Road, Wadala, Mumbai – 400031, Maharashtra
Country :	India
Financials (as on) :	30.06.2010
Date of Incorporation :	21.03.1997
Com. Reg. No.:	11-106787
Capital Investment / Paid-up Capital :	Rs. 104.540 Millions
CIN No.: [Company Identification No.]	U30007MH1997PLC106787
IEC No.:	0397004281
TAN No.: [Tax Deduction & Collection Account No.]	MUMN05580B
PAN No.: [Permanent Account No.]	AAACN3140K
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader, Dealer and Distributor of Computer Peripherals, Scanners, Casting, Monitors, etc.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 1100000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Directors are reported as experienced and respectable businessmen. 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 normal 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.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Darshan
Designation :	Accountant
Contact No.:	91-22-40859600
Date :	29.10.2011

LOCATIONS

Registered Office :	A -23 Shriram Industrial Estate, 13, G.D. Ambedkar Road, Wadala, Mumbai – 400031, Maharashtra, India
Tel. No.:	91-22-42309600/32577600/24172600/40859666
Fax No.:	91-22-42309620/24172600//24163637
E-Mail:	jigar.gandhi@neotric.co.in sushil.sancheti@neoteric.co.in sunil.bhutra@neoteric.co.in inof@neoteric.co.in finance@neoteric.co.in
Website :	http://www.neoteric.co.in
Location :	Owned
Corporate Office :	21 A, Film Center, 2^nd Floor, Tardeo Road, Mumbai – 400034, Maharashtra, India
Tel. No.:	91-22-40859600
Fax No.:	91-22-40859694
E-Mail:	info@neoteric.co.in
Warehouse :	P 12, Eastern Warehouse, Hide Road, Kolkata, West Bengal, India
Service Centre:	13, Kala Bhavan, 3^rd Floor, 3, Mathew Road, Opera House, Mumbai-400004, Maharashtra, India
Tel No.:	91-22-43119700
Email:	mumbai@neoteric.co.in
Branch Office :	Located At : Ahmedabad Bangalore Bhubaneswar Chandigarh Chennai Cochin Coimbatore Dehradun Delhi Gaziabad Goa Guwhati Hyderabad Indore Jaipur Jammu Kolkata Kanpur Lucknow Ludhiana Mumbai Madurai Nagpur Patna Pune Raipur Ranchi Surat Trivendrum Vizag

DIRECTORS

As on 24.12.2010

Name :

Mr. Harshad D. Shah

Designation :

Non Executive Chairman

Address :

1402, Rajul Apartment 9, Harkness Road Mumbai 400006, Maharashtra, India

Qualification :

Intermediate

Date of Appointment :

01.10.2002

DIN No. :

00151651

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	U30007MH1997PLC106787	NEOTERIC INFOMATIQUE LIMITED	Director	01-01-08	01-01-02	-	Active	NO
2	U65910MH2007PTC167482	STHAPANA HOLDINGS PRIVATE LIMITED	Director	02-02-07	02-02-07	12-12-07	Active	NO

Name :

Mr. Paras Shah

Designation :

Chairman

Address :

1402, Rajul Apartment 9, Harkness Road Mumbai 400006, Maharashtra, India

Qualification :

Computer Engineer from Case Western Reserve University, USA

Date of Appointment :

01.10.2002

DIN No. :

00151509

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	U30007MH1997PLC106787	NEOTERIC INFOMATIQUE LIMITED	Managing director	01-12-10	01-10-02	-	Active	NO
2	U65910MH2007PTC167482	STHAPANA HOLDINGS PRIVATE LIMITED	Director	02-02-07	02-02-07	12-12-07	Active	NO

Name :

Mr. Satya Prasan Rajguru

Designation :

Non-Executive Director

Address :

6/11, Sarvapriya Vihar, New Delhi 110 016, Delhi, India

Qualification :

Business and Law Graduate

Date of Appointment :

21.10.2005

DIN No. :

00865254

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	U72300DL2005PTC140952	V5 GLOBAL SERVICES PRIVATE LIMITED	Director	20-09-05	20-09-05	Active	NO
2	U30007MH1997PLC106787	NEOTERIC INFOMATIQUE LIMITED	Director	21-10-05	21-10-05	Active	NO
3	U51109DL1998PTC093129	CHANGEMASTERS MANAGEMENT CONSULTING PRIVATE LIMITED	Director	01-01-08	01-01-08	Active	NO
4	U74140KA2008FTC046856	BLUE AND GRAY MANAGEMENT CONSULTANT (INDIA) PRIVATE LIMITED	Director	19-06-08	19-06-08	Active	NO

Name :

Mr. Ramswamy Srinivasan

Designation :

Non-Executive Director

Address :

B-703/704, Suresh Smruti, Prathmesh Complex, Veera Desai Road, Andheri (West), Mumbai 400 053, Maharashtra, India

Qualification :

MBA from XLRI and Doctoral Scholar of BITS, Pilani, Rajasthan

Date of Appointment :

01.03.2006

DIN No. :

02019206

Name :

Mr. Jayant Rastogi

Designation :

Independent Director

Address :

Flat No. 1403, 14^th Floor, Greenwood, Hiranandani Estate, Pokhran GB Road, Thane (West) – 400 607, Maharashtra, India

Qualification :

B. E. (Mech.) from Government Engineering College, Jabalpur (Madhya Pradesh)

Date of Appointment :

02.04.2008

DIN No. :

02129608

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	U30007MH1997PLC106787	NEOTERIC INFOMATIQUE LIMITED	Director	29-11-08	02-04-08	Active	NO

Name :

Mr. Hemant Nerurkar

Designation :

Independent Director

Address :

5, Swapan Lok Darshan, Military, Road, Marol, Mumbai – 400059, Maharashtra, India

Qualification :

Master of Science in Electrical Engineering from Newark College of Engineering, New Jersey

Date of Appointment :

02.04.2008

DIN No. :

00627401

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	U72900MH2002PTC137199	MINDCRAFT SOFTWARE PRIVATE LIMITED	Managing director	13-09-02	13-09-02	Active	NO
2	U72000MH2002PTC137405	PINETREE SOFTWARE AND TECHNOLOGIES PRIVATE LIMITED	Managing director	01-10-02	01-10-02	Active	YES
3	U30007MH1997PLC106787	NEOTERIC INFOMATIQUE LIMITED	Director	29-11-08	02-04-08	Active	NO
4	U80903MH2008PLC185015	E4 DEVELOPMENT AND COACHING LIMITED	Director	18-02-09	18-02-09	Active	NO

KEY EXECUTIVES

Name :	Mr. Darshan
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.12.2010

Names of Shareholders	No. of Shares
Paras Shah	2839122
Abhishek P Shah	210000
Aditya P Shah	346700
Dipti P Shah	1605000
Harshad D Shah	2125000
Harshad D Shah (HUF)	695002
Ranjan H Shah	2175000
Priti N Shah	5002
Manish N. Rambhia	7700
Kaushal D Khandor	10400
Falguni A. Mehta	2500
Nishith Shah Jointly with Priti Shah	10000
Sushil Sancheti	7500
Rupesh Ashar	5000
Amit Amilal Shah	2500
R. Srinivasan	10000
Kishor Nandlal Shah	10000
R.S. Laxmi	2500
Sreyans Sevantilal Sanghavi	2500
Ranjan Jagetta	2500
Plus Plus Consulting and Services Private Limited, India	347775

As on 30.06.2011

Names of Allottees	No. of Shares
Paras Shah	270220
Abhishek P Shah	9420
Aditya P Shah	23860
Harshad D Shah	196500
Plus Plus Consulting and Services Private Limited, India	500000
Total	1000000

As on 24.12.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	3.33
Directors or relatives of directors	95.63
Other top fifty shareholders	1.04
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Dealer and Distributor of Computer Peripherals, Scanners, Casting, Monitors, etc.
Agencies Held :	· APPLE · HP

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

500 (Approximately)

Bankers :

• Union Bank of India, Opera House Branch, Tejura Chambers, 365-367, V.P. Road, Opera House, Mumbai – 400004, Maharashtra, India
• Citibank N.A., IL and FS Building, 7^th Floor, Bandra Kurla complex, Bandra (East), Mumbai – 400051, Maharashtra, India
• HDFC Bank Limited, Kamala Mills compound, 2^nd Floor, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India

· Standard Chartered Bank, 2^nd Floor, 270 D.N. Road, Fort, Mumbai – 400001, Maharashtra, India

· IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India

Facilities :

Secured Loan	As on 30.06.2010 [Rs. in Millions]	As on 30.06.2009 [Rs. in Millions]
From Banks
Cash Credit and Working Capital Demand Loan (note a)
-Rupee Loan	152.660	169.630
-Foreign Currency Loan	200.000	180.000
Total	352.660	349.630
Unsecured Loans
Short term loan from members	149.960	74.040
Total	149.960	74.040

NOTE:

a. Secured by hypothecation of slack-in trade, book debts of the company and equitable mortgage on collateral immovable properties along with personal guarantee of some of directors of the company.

Banking Relations :	--
Auditors :
Name :	Devanand Chaturvedi Chartered Accountant
Address :	320, Tulsiani Chambers, Nariman Point, Mumbai-400021, Maharashtra, India
Pan No.:	AABFC7158A
Subsidiaries :	Neoteric Pte Limited

CAPITAL STRUCTURE

As on 30.06.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
18000000	Equity Shares	Rs.10/- each	Rs.180.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10454075	Equity Shares	Rs.10/- each	Rs.104.540 Millions

After 24.12.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
18000000	Equity Shares	Rs.10/- each	Rs.180.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11454075	Equity Shares	Rs.10/- each	Rs.114.540 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		30.06.2010 (12^th Months)	30.06.2009 (15^th Months)	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		104.540	104.540	104.540
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		188.660	128.670	103.050
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		293.200	233.210	207.590
LOAN FUNDS
1] Secured Loans		352.660	349.630	350.340
2] Unsecured Loans		149.960	74.040	61.260
TOTAL BORROWING		502.620	423.670	411.600
DEFERRED TAX LIABILITIES		4.500	6.400	6.240
TOTAL		800.320	663.280	625.430
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		26.880	30.810	30.230
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		3.360	0.000	11.340
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	879.010	561.740	517.110
	Sundry Debtors	1140.610	845.990	733.470
	Cash & Bank Balances	74.880	52.130	59.890
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	110.650	185.010	122.000
Total Current Assets		2205.150	1644.870	1432.470
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	705.770	571.530	487.600
	Other Current Liabilities	702.850	431.530	335.100
	Provisions	31.320	14.210	28.5900
Total Current Liabilities		1439.940	1017.270	851.290
Net Current Assets		765.210	627.600	581.180
MISCELLANEOUS EXPENSES		4.870	4.870	2.680
TOTAL		800.320	663.280	625.430

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.06.2010 (12^th Months)	30.06.2009 (15^th Months)	31.03.2008
	SALES
		Income	9952.030	10005.500	6035.350
		Other Income	0.000	0.650	0.000
		TOTAL (A)	9952.030	10006.150	6035.350
Less	EXPENSES
		Cost of Goods Sold	9496.510	9455.680	5663.750
		Personnel Expenses	147.080	167.890	121.800
		General & Administrative Expenses	127.750	139.840	96.500
		Sales & Marketing Expenses	16.920	23.560	24.500
		Exceptional Items	(4.310)	80.390	(8.130)
		TOTAL (B)	9783.950	9867.360	5898.420
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		168.080	138.790	136.930
Less	FINANCIAL EXPENSES (D)		69.350	87.470	57.640
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		98.730	51.320	79.290
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.300	7.070	4.650
	PROFIT BEFORE TAX (E-F) (G)		93.430	44.250	74.640
Less	TAX (H)		29.510	16.840	29.520
	PROFIT AFTER TAX (G-H) (I)		63.920	27.410	45.120
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		85.480	88.060	72.930
Less	APPROPRIATIONS
		Transfer to General Reserve	30.000	30.000	30.000
	BALANCE CARRIED TO THE B/S		119.400	85.480	88.060
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	NA	16.080	11.460
	Earnings Per Share (Rs.)
	- Before Extraordinary Items		5.47	7.55	3.81
	- After Extraordinary Items		5.74	2.45	4.35

KEY RATIOS

PARTICULARS		30.06.2010 (12^th Months)	30.06.2009 (15^th Months)	31.03.2008
PAT / Total Income	(%)	0.64	0.27	0.75
Net Profit Margin (PBT/Sales)	(%)	0.94	0.44	1.24
Return on Total Assets (PBT/Total Assets}	(%)	4.18	2.64	5.06
Return on Investment (ROI) (PBT/Networth)		0.32	0.19	0.37
Debt Equity Ratio (Total Liability/Networth)		6.63	6.18	6.08
Current Ratio (Current Asset/Current Liability)		1.53	1.62	1.68

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Rs. in Millions

Particulars	30.06.2010 (12^th Months)	30.06.2009 (15^th Months)	31.03.2008
Sundry Creditors	705.770	571.530	487.600

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	No
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	--
15) Capital in the business	No
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	No
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	--

OPERATIONAL PERFORMANCE

During the year, the company has achieved as Sales turnover of Rs. 9952.030 Millions as against Rs10005.500 Millions in 15 months period ended 30th June, 2010. Profit after Tax (PAT) for the period ended June, 2009 was Rs. 44.250 Millions as against Rs. 93.430 Millions in corresponding previous year.

CONTINGENT LIABILITIES NOT PROVIDED FOR:

Rs. in Millions

Particulars	30.06.2010	30.06.2009
Bank Guarantee for Statutory Compliances	0.290	0.290
Bank Guarantee in Favor of Vendors	59.290	65.200
Letter of Credit Issued	85.350	60.700
Disputed Sales Tax Demands	3.410	1.300
Total	178.601	127.490

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	10192808
Corporate identity number of the company	U30007MH1997PLC106787
Name of the company	NEOTERIC INFOMATIQUE LIMITED
Address of the registered office or of the principal place of business in India of the company	A -23 Shriram Industrial Estate, 13, G.D. Ambedkar Road, Wadala, Mumbai – 400031, Maharashtra, India
Type of charge	Book Debts Movable Property (not being pledge)
Particular of charge holder	IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India
Email	ag.wanjari@idbi.co.in
Nature of description of the instrument creating or modifying the charge	Supplemental Deed of Hypothecation dated 01.06.2011 executed by the company in favour of IDBI Bank Limited (IDBI) to secure enhanced WCF of Rs. 110.000 Millions (enhanced from Rs. 70.000 Millions to Rs. 110.000 Millions ) on pari passu charge basis by way of hypothecation on entire current assets of the company including stocks and receivables both present and future.
Date of instrument Creating the charge	01.06.2011
Amount secured by the charge	Rs.110.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per the Supplemental Facility agreement dated 01/06/2011 executed by the Company in favour of IDBI as amended from time to time. Terms of Repayment As per the Supplemental Facility agreement dated 01/06/2011 executed by the Company in favour of IDBI as amended from time to time. Margin As per the Supplemental Facility agreement dated 01/06/2011 executed by the Company in favour of IDBI as amended from time to time. Extent and Operation of the charge He charge operates as security inter alia on 1. First pari passu charge by way of hypothecation of entire current assets of the Company including stocks and receivables, both present and future and 2. First charge by way of hypothecation on entire movable fixed assets of the Company including plant and machinery, to secure the WCF of Rs. 110.000 Millions together with all costs, expenses and other monies whatever stipulated in the SFA dated 01/06/2011 as amended from time to time.
Short particulars of the property charged	I) Entire current assets of the Company including stocks and receivables, both present and future, Entire movable fixed assets of the company including plant and machinery II) More particularly described in the Deed of Hypothecation dated 17/12/2009 and Supplemental Deed of Hypothecation dated 01/06/2011 executed by the company in favour of IDBI
Particulars of the present modification	Supplemental Deed of Hypothecation dated 01.06.2011 executed by the company in favour of IDBI Bank Limited (IDBI) to secure enhanced WCF of Rs. 110.000 Millions (enhanced from Rs. 70.000 Millions to Rs. 110.000 Millions) on pari passu charge basis by way of hypothecation on entire current assets including stocks and receivables both present and future and entire movable fixed assets of the company.

FIXED ASSETS:

• Plant and machinery
• Furniture and fixtures
• Vehicles
• Software

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.48.82
UK Pound	1	Rs.78.57
Euro	1	Rs.69.29

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		49

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.