MIRA INFORM REPORT

Report Date :

12.09.2011

IDENTIFICATION DETAILS

Name :	SHARDA SOLVENT LIMITED
Registered Office :	Dwarka Sadan, 6 Press Complex, M P Nagar, Bhopal - 462011, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	01.06.1992
Com. Reg. No.:	10-7125
Capital Investment / Paid-up Capital :	Rs.100.500 Millions
CIN No.: [Company Identification No.]	U26921MP1992PLC007125
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer and Exporter of Adible Oil by Extraction of Oil Seeds.
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 4790000
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 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.

ECGC Country Risk Classification List – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
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. Rajendra Mittal
Designation :	Finance Manager
Contact No.:	91-9755032076

LOCATIONS

Registered Office :	Dwarka Sadan, 6 Press Complex, M P Nagar, Bhopal – 462 011, Madhya Pradesh, India
Tel No.:	91-755-2765647/ 2675257 / 2551601
Mobile No.:	91-9755032076 (Mr. Rajendra Mittal)
Fax No.:	91-755-2765647
E-Mail :	guptanavink@gmail.com csbpl2008@yahoo.co.in
Corporate Office 1:	53/8, Kanchan Bagh, Indore – 452 001, Madhya Pradesh, India
Tel. No.:	91-731-524197, 518426
Corporate Office 2:	Unit No. 1, Luthra Industrial Premises, Andheri Kurla Road, Safed Pool, Andheri (E), Mumbai-400072, Maharashtra, India
Tel No.:	91-22-28515606/28515644/28516338
Fax No.:	91-22-28512885
Factory 1:	Village Banskhedi AB Road, Corp, Shivpuri, MPAR Bazar, Shivpuri – 473 551, Madhya Pradesh, India
Tel. No.:	91-731-524197 / 518426
Factory 2:	Village Mundla Tahseel Digod, Dist Kota, Rajasthan, India

DIRECTORS

As on 28.09.2010

Name :

Mr. Ramesh Chandra Agarwal

Designation :

Director

Address :

E-1/79, Arera Colony, Bhopal-462016, Madhya Pradesh, India

Date of Birth/Age :

15.06.1944

Date of Appointment :

29.09.1992

DIN :

00051310

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	U22121MP1976PTC001370	Bhaskar Publications And Allied Industries Private Limited	Director	14-05-76	14-05-76	-	Active	NO
2	U22210GJ1981PTC047207	Writers And Publishers Private Limited	Director	13-01-81	13-01-81	-	Active	NO
3	U26921MP1992PLC007125	Sharda Solvent Limited	Director	29-09-92	29-09-92	-	Active	NO
4	U67120MP1985PLC003145	Bhaskar Industries Limited	Managing director	01-04-09	16-01-95	-	Active	NO
5	U15141MP1997PTC012474	Bhaskar Exxoils Private Limited	Director	25-11-97	25-11-97	-	Active	NO
6	U15143MP1998PLC012842	Stitex Global Limited	Director	21-05-98	21-05-98	-	Active	NO
7	U51109MP1985PTC003142	S.A. Trading And Investments Private Limited	Director	20-08-03	20-08-03	-	Active	NO
8	U51109MP1985PTC003141	Bhaskar Foods Private Limited	Director	12-03-04	12-03-04	-	Active	NO
9	U92132MP1999PLC013585	Bhaskar Multinet Limited	Director	22-02-05	22-02-05	-	Active	NO
10	U45200MH2005PTC157370	Shubik Realties Private Limited	Director	17-11-05	17-11-05	17-02-09	Active	NO
11	L22210GJ1995PLC047208	Db Corp Limited (Tr. Co. From)	Director	10-12-05	10-12-05	-	Active	NO
12	U01112MP1979NPL001559	Soyabeen Processors Association of India	Director	30-09-06	30-09-06	-	Active	NO
13	U40109MP2006PLC019008	D B Power Limited	Director	12-10-06	12-10-06	-	Active	NO
14	U10200MP2006PLC019161	Db Mining Corp Limited	Director	29-12-06	29-12-06	21-06-08	Active	NO
15	U72200MH2007PLC171849	India Interactive Technologies Limited	Director	20-06-07	20-06-07	-	Active	NO
16	U45200GJ2005PTC066071	Shashwat Homes Private Limited	Additional director	18-07-07	18-07-07	06-02-09	Active	NO
17	U11101MP2008PLC020377	Diva Oil And Gas Limited	Director	22-02-08	22-02-08	-	Active	NO
18	U70109MP2008PLC021394	Bhaskar Infraventure Limited	Director	10-12-08	10-12-08	-	Active	NO
19	U01403MP2008PTC021375	Db Energy And Foods Private Limited	Director	29-09-09	02-02-09	-	Active	NO
20	U40100MP2008PLC020903	Db Power (Madhya Pradesh) Limited	Additional director	01-10-10	01-10-10	-	Active	NO
21	U40100MP2010PTC023554	Diligent Power Private Limited	Additional director	01-10-10	01-10-10	-	Active	NO
22	U14100MP2011PTC025231	Devasree Inframine Private Limited	Director	21-01-11	21-01-11	-	Active	NO
23	U14100MP2011PTC025235	Dhanshree Mines Private Limited	Director	21-01-11	21-01-11	-	Active	NO
24	U14100MP2011PTC025261	Divine Inframine Private Limited	Director	27-01-11	27-01-11	-	Active	NO
25	U14100MP2011PTC025262	Bhaskar Inframine Private Limited	Director	27-01-11	27-01-11	-	Active	NO
26	U14100MP2011PTC025264	Dynamic Inframine Private Limited	Director	27-01-11	27-01-11	-	Active	NO

Name :

Mr. Girish Agarwal

Designation :

Director

Address :

E-1/79, Arera Colony, Bhopal-462016, Madhya Pradesh, India

Date of Birth/Age :

10.07.1971

Date of Appointment :

28.08.2006

DIN :

00051375

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	U22121MP1976PTC001370	Bhaskar Publications And Allied Industries Private Limited	Director	06-10-89	06-10-89	-	Active	NO
2	U51109MP1985PTC003141	Bhaskar Foods Private Limited	Director	31-08-90	31-08-90	-	Active	NO
3	U67120MP1985PLC003145	Bhaskar Industries Limited	Director	15-06-92	15-06-92	-	Active	NO
4	L22210GJ1995PLC047208	Db Corp Limited (Tr. Co. From)	Director	27-10-95	27-10-95	-	Active	NO
5	U15141MP1996PTC010336	Regency Agro Products Private Limited	Director	06-04-96	06-04-96	-	Active	NO
6	U92132MP1999PLC013585	Bhaskar Multinet Limited	Director	21-06-99	21-06-99	21-06-08	Active	NO
7	U99999DL1951PLC002023	The Indian Newspaper Society.	Director	16-09-00	16-09-00	-	Active	NO
8	U15141MP1997PTC012474	Bhaskar Exxoils Private Limited	Director	23-11-00	23-11-00	-	Active	NO
9	U22210GJ1981PTC047207	Writers And Publishers Private Limited	Director	01-12-07	01-12-02	-	Active	NO
10	U45201MP2003PTC015886	Sharda Real Estate Private Limited	Director	16-06-03	16-06-03	21-12-09	Active	NO
11	U22190GJ1961PTC001097	Saurashtra Samachar Private Limited	Director	21-08-04	21-08-04	-	Active	NO
12	U22120MH2005PLC151377	Diligent Media Corporation Limited	Director	14-08-06	22-03-05	-	Active	NO
13	U92132MP2005PLC018039	Synergy Media Entertainment Limited	Director	17-10-05	17-10-05	-	Active	NO
14	U45200MH2005PTC157370	Shubik Realties Private Limited	Director	17-11-05	17-11-05	17-02-09	Active	NO
15	U04520MP2006PTC018399	Surge Developers Private Limited	Director	10-02-06	10-02-06	-	Active	NO
16	U01542MP2006PTC018492	Bhaskar Bio-Fules Private Limited	Director	20-03-06	20-03-06	-	Active	NO
17	U04520MP2006PTC018493	D B Infrastructures Private Limited	Director	20-03-06	20-03-06	21-06-08	Active	NO
18	U55101RJ2005PTC020464	Divyamoti Hotels And Resorts Private Limited	Director	25-04-06	25-04-06	04-01-08	Active	NO
19	U51398CT2006PLC018649	Shourya Diamonds Limited	Director	03-05-06	03-05-06	-	Active	NO
20	U45203MP2006PTC018699	D B Malls Private Limited	Director	14-06-06	14-06-06	-	Active	NO
21	U24292CT1999PLC013364	Maruti Clean Coal And Power Limited	Director	30-09-06	15-06-06	19-11-10	Active	NO
22	U26921MP1992PLC007125	Sharda Solvent Limited	Director	28-08-06	28-08-06	-	Active	NO
23	U40109MP2006PLC019008	D B Power Limited	Managing director	01-12-09	20-12-06	-	Active	NO
24	U10200MP2006PLC019161	Db Mining Corp Limited	Director	29-09-07	05-01-07	21-06-08	Active	NO
25	U67120MP2007PTC019450	Divya Trading Private Limited	Director	16-04-07	16-04-07	-	Active	NO
26	U67120MP2007PTC019449	Dev Enterprises Private Limited	Director	16-04-07	16-04-07	-	Active	NO
27	U45201MP2007PTC019666	Divya Dev Developers Private Limited	Director	11-07-07	11-07-07	-	Active	NO
28	U45200GJ2005PTC066071	Shashwat Homes Private Limited	Additional director	18-07-07	18-07-07	06-02-09	Active	NO
29	U67120MP2007PTC019683	Db Partners Enterprises Private Limited	Director	23-07-07	23-07-07	-	Active	NO
30	U92130MP2007PTC019845	Hathway Bhaskar Multinet Private Limited	Director	20-09-07	20-09-07	-	Active	NO
31	U67120MP1995PLC009429	Bhaskar Infrastructure Limited	Director	27-09-07	22-09-07	-	Active	NO
32	U70102MP2007PTC019864	Db Buildcon Private Limited	Director	24-09-07	24-09-07	-	Active	NO
33	U22120MP2007PTC019963	Db Publications Private Limited	Director	01-11-07	01-11-07	-	Active	NO
34	U11101MP2008PLC020377	Diva Oil And Gas Limited	Director	22-02-08	22-02-08	-	Active	NO
35	U15141MP2008PTC020404	Vindhya Solvent Private Limited	Director	29-02-08	29-02-08	-	Active	NO
36	U45200MP2008PTC020793	Aarkey Aditya Developers Private Limited	Director	17-06-08	17-06-08	-	Active	NO
37	U14109MP2008PTC020875	Delta Coal And Mining Private Limited	Director	07-07-08	07-07-08	-	Active	NO
38	U11201MP2008PTC020901	Vista Natural Resources Private Limited	Director	10-07-08	10-07-08	-	Active	NO
39	U40100MP2008PLC020903	Db Power (Madhya Pradesh) Limited	Director	10-07-08	10-07-08	-	Active	NO
40	U40100MP2008PLC020907	Db Power (Chhattisgarh) Limited	Director	10-07-08	10-07-08	-	Active	NO
41	U40101MP2008PTC020923	Dolby Mining And Power Private Limited	Director	15-07-08	15-07-08	-	Active	NO
42	U13200MP2008PTC020924	Vastu Mines Private Limited	Director	15-07-08	15-07-08	-	Active	NO
43	U92100MP2008PTC020983	Bhaskar Entertainment And Media Private Limited	Director	29-07-08	29-07-08	-	Active	NO
44	U92100MP2008PLC021003	Bhaskar News Media Limited	Director	04-08-08	04-08-08	-	Active	NO
45	U45202MH2008PTC182658	Yoman Infrastructure Private Limited	Director	29-09-09	11-08-08	-	Active	NO
46	U40109MP2008PTC021120	Db Power (Jharkhand) Private Limited	Director	08-09-08	08-09-08	-	Active	NO
47	U40109MP2008PTC021118	Bhaskar Green Power Private Limited	Director	08-09-08	08-09-08	21-08-10	Active	NO
48	U01403MP2008PTC021375	Db Energy And Foods Private Limited	Director	02-12-08	02-12-08	-	Active	NO
49	U70109MP2008PLC021394	Bhaskar Infraventure Limited	Director	10-12-08	10-12-08	-	Active	NO
50	U70102MP2008PTC021415	Demeurer Developers Private Limited	Director	15-12-08	15-12-08	-	Active	NO
51	U40100MP2009PLC022082	Ample Power Limited	Director	29-06-09	29-06-09	-	Active	NO
52	U40100MP2009PTC022413	Virat Power And Mines Private Limited	Director	18-09-09	18-09-09	01-12-09	Active	NO
53	U45201MP2009PTC022422	Dhruv Inframine And Power Private Limited	Director	22-09-09	22-09-09	01-12-09	Active	NO
54	U45200MP2009PTC022423	Drona Inframine And Power Private Limited	Director	22-09-09	22-09-09	01-12-09	Active	NO
55	U45201MP2010PTC022880	Le Soleil Developers Private Limited	Director	04-01-10	04-01-10	-	Active	NO
56	U40100MP2010PTC023555	Dolby Power And Energy Private Limited	Director	13-05-10	13-05-10	-	Active	NO
57	U40100MP2010PTC023556	Vindhya Power Private Limited	Director	13-05-10	13-05-10	-	Active	NO
58	U40100MP2010PTC023553	Daksh Energy Private Limited	Director	13-05-10	13-05-10	-	Active	NO
59	U40100MP2010PTC023554	Diligent Power Private Limited	Director	13-05-10	13-05-10	-	Active	NO
60	U65923MP2011PTC025087	D B Microfinance Private Limited	Director	03-01-11	03-01-11	-	Active	NO
61	U55101MP2011PTC025196	Deligent Hotel Corporation Private Limited	Director	17-01-11	17-01-11	-	Active	NO

Name :

Mr. Ravi Datt Sawla

Designation :

Director

Address :

E-1/79, Arera Colony, Bhopal-462016, Madhya Pradesh, India

Date of Birth/Age :

14.12.1969

Date of Appointment :

16.03.2006

DIN :

00809325

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	U51109GJ1985PTC051693	Peacock Trading And Investments Private Limited	Director	20-04-04	20-04-04	-	Active	NO
2	U67120MH1985PTC037789	Aarkey Investments Private Limited	Director	12-11-04	12-11-04	-	Active	YES
3	U15141MP1997PTC012474	Bhaskar Exxoils Private Limited	Director	27-02-06	27-02-06	-	Active	NO
4	U51109MP1985PTC003142	S.A. Trading And Investments Private Limited	Director	27-02-06	27-02-06	-	Active	NO
5	U67120MP1985PLC003145	Bhaskar Industries Limited	Director	16-03-06	16-03-06	-	Active	NO
6	U26921MP1992PLC007125	Sharda Solvent Limited	Director	16-03-06	16-03-06	-	Active	NO
7	U70101MP2007PTC019662	Variant Infra Private Limited	Director	10-07-07	10-07-07	-	Active	NO
8	U72100MP2008PTC020413	Db Infratech Private Limited	Director	04-03-08	04-03-08	-	Active	NO
9	U04520MP2006PTC018493	D B Infrastructures Private Limited	Director	29-09-08	21-06-08	-	Active	NO
10	U10200MP2006PLC019161	Db Mining Corp Limited	Director	30-08-08	21-06-08	-	Active	NO
11	U92132MP1999PLC013585	Bhaskar Multinet Limited	Director	29-09-09	29-09-08	-	Active	NO
12	U45400MP2001PTC014626	Abhijit Buildcon Private Limited	Director	29-09-09	25-03-09	15-01-10	Active	NO
13	U74120WB2008PTC122699	Jai Hind Financial Advisors Private Limited	Additional director	28-05-10	28-05-10	-	Active	NO
14	U72200WB2007PTC117872	Ajay Software Private Limited	Additional director	28-05-10	28-05-10	-	Active	NO
15	U45201MP2003PTC015884	Bhaskar Housing Development Company Private Limited	Additional director	20-04-11	20-04-11	-	Active	NO
16	U45200MP2011PTC026155	Db City Housing And Developers Private Limited	Director	09-06-11	09-06-11	-	Active	NO

Name :

Mr. Nipun Garg

Designation :

Whoe-time Director

Address :

C/O, Sharda Solvents Limited, Court Road, Shivpuri-473551, Madhya Pradesh, India

Date of Birth/Age :

01.12.1985

Date of Appointment :

07.12.2005

DIN :

00694044

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	U55101MP1995PTC009588	Regency Hotels And Investments (India) Private Limited	Director	21-04-05	21-04-05	-	Active	NO
2	U45201MP1996PTC011227	Devachan Investment And Developers Private Limited	Director	21-04-05	21-04-05	-	Active	NO
3	U45201MP2003PTC016034	Siddheshwar Enterprises Private Limited	Director	21-04-05	21-04-05	-	Active	NO
4	U65921MP1997PTC011721	Coronation Finvest Private Limited	Director	21-04-05	21-04-05	05-11-10	Active	NO
5	U04520MP2005PTC017943	Siddheshwar Logistic Private Limited	Director	07-09-05	07-09-05	-	Active	NO
6	U51109MP1985PTC003141	Bhaskar Foods Private Limited	Director	01-11-05	01-11-05	-	Active	NO
7	U15141MP1997PTC012474	Bhaskar Exxoils Private Limited	Director	01-11-05	01-11-05	-	Active	NO
8	U26921MP1992PLC007125	Sharda Solvent Limited	Director	07-12-05	07-12-05	-	Active	NO
9	U52397MP2007PTC020042	BFP Enterprises Private Limited	Director	29-11-07	29-11-07	-	Active	NO
10	U15143MP2007PTC020044	Exxoils Enterprises Private Limited	Director	29-11-07	29-11-07	-	Active	NO
11	U52599MP2007PTC020045	Solvent Traders Private Limited	Director	29-11-07	29-11-07	-	Active	NO
12	U15143MP2007PTC020046	Sunshine Solvent Private Limited	Director	29-11-07	29-11-07	-	Active	NO
13	U52599MP2007PTC020047	BEL Traders Private Limited	Director	29-11-07	29-11-07	-	Active	NO
14	U15143MP2007PTC020043	BFP Traders Private Limited	Director	29-11-07	29-11-07	15-10-08	Active	NO

Name :

Mr. Om Prakash Garg

Designation :

Director

Address :

Sadar Bazar, Shivpuri-473501, Madhya Pradesh, India

Date of Birth/Age :

28.02.1945

Date of Appointment :

29.09.1992

DIN :

01334579

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	U26921MP1992PLC007125	Sharda Solvent Limited	Director	29-09-92	29-09-92	Active	NO

Name :

Mr. Manoj Garg

Designation :

Director

Address :

Dainik Bhaskar, Raipur-492001, Chattisgarh, India

Date of Birth/Age :

12.07.1971

Date of Appointment :

16.03.2006

DIN :

00809382

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	U51109GJ1985PTC051693	Peacock Trading And Investments Private Limited	Director	20-04-04	20-04-04	-	Active	NO
2	U67120MH1985PTC037789	Aarkey Investments Private Limited	Director	12-11-04	12-11-04	-	Active	YES
3	U67120MP1985PLC003145	Bhaskar Industries Limited	Director	16-03-06	16-03-06	-	Active	NO
4	U26921MP1992PLC007125	Sharda Solvent Limited	Director	16-03-06	16-03-06	-	Active	NO
5	U67120MP1995PTC009407	Bhopal Financial Services Private Limited	Director	10-07-07	30-05-07	-	Active	NO
6	U70101MP2007PTC019662	Variant Infra Private Limited	Director	10-07-07	10-07-07	-	Active	NO
7	U72100MP2008PTC020413	Db Infratech Private Limited	Director	04-03-08	04-03-08	-	Active	NO
8	U74140MP2008PTC020564	Smart Face Consultancy Private Limited	Director	10-04-08	10-04-08	-	Active	YES
9	U10200MP2006PLC019161	Db Mining Corp Limited	Director	30-08-08	21-06-08	-	Active	NO
10	U17124MP2002PLC015251	Bhaskar Exim Limited	Director	29-09-09	09-07-08	-	Active	NO
11	U24231MP1987FLC004182	Bright Drug Industries Ltd	Additional director	01-09-08	01-09-08	-	Dormant	NO
12	U92132MP1999PLC013585	Bhaskar Multinet Limited	Director	29-09-09	29-09-08	-	Active	NO
13	U45400MP2001PTC014626	Abhijit Buildcon Private Limited	Director	29-09-09	25-03-09	15-01-10	Active	NO
14	U40100MP2009PTC022413	Virat Power And Mines Private Limited	Additional director	30-11-09	30-11-09	-	Active	NO
15	U45201MP2009PTC022422	Dhruv Inframine And Power Private Limited	Director	30-11-09	30-11-09	-	Active	NO
16	U45200MP2009PTC022423	Drona Inframine And Power Private Limited	Director	04-09-10	30-11-09	-	Active	NO
17	U74120WB2008PTC122699	Jai Hind Financial Advisors Private Limited	Additional director	28-05-10	28-05-10	-	Active	NO
18	U72200WB2007PTC117872	Ajay Software Private Limited	Additional director	28-05-10	28-05-10	-	Active	NO
19	U45200MP2011PTC026155	Db City Housing And Developers Private Limited	Director	09-06-11	09-06-11	-	Active	NO

Name :

Mr. Vijay Khetawat

Designation :

Director

Address :

Dwarka Sadan 6, Press Complex Zone-1, M. P. Nagar, Bhopal-462011, Madhya Pradesh, India

Date of Birth/Age :

12.09.1959

Date of Appointment :

16.03.2006

DIN :

00092440

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	U30007GJ1996PLC029653	Design Solutions Limited	Director	04-03-05	04-03-05	-	Active	NO
2	U45201MP2003PTC015886	Sharda Real Estate Private Limited	Director	21-04-05	21-04-05	-	Active	NO
3	U26921MP1992PLC007125	Sharda Solvent Limited	Director	16-03-06	16-03-06	-	Active	NO
4	U67120MP1985PLC003145	Bhaskar Industries Limited	Director	16-03-06	16-03-06	12-08-08	Active	NO
5	U51224MP2006PTC018654	Bhaskar Venkatesh Products Private Limited	Director	04-05-06	04-05-06	-	Active	NO
6	U63046MP1992PTC007126	Deluxe Travel Service Private Limited	Director	10-06-06	10-06-06	-	Active	NO
7	U40109MP2006PLC019008	D B Power Limited	Director	12-10-06	12-10-06	13-08-08	Active	NO
8	U01542MP2006PTC018492	Bhaskar Bio-Fules Private Limited	Director	25-09-09	13-02-08	-	Active	NO
9	U24292CT1999PLC013364	Maruti Clean Coal And Power Limited	Director	30-09-08	04-04-08	19-11-10	Active	NO

Name :

Mr. Sudhir Agarwal

Designation :

Director

Address :

E-1/79, Arera Colony, Bhopal-462016, Madhya Pradesh, India

Date of Birth/Age :

20.07.1967

Date of Appointment :

28.03.2009

DIN :

00051407

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	U22121MP1976PTC001370	Bhaskar Publications And Allied Industries Private Limited	Director	19-07-87	19-07-87	-	Active	NO
2	U22210GJ1981PTC047207	Writers And Publishers Private Limited	Director	30-03-09	20-04-92	-	Active	NO
3	U26921MP1992PLC007125	Sharda Solvent Limited	Director	28-03-09	21-12-92	-	Active	NO
4	U67120MP1985PLC003145	Bhaskar Industries Limited	Director	10-06-94	10-06-94	-	Active	NO
5	U15141MP1997PTC012474	Bhaskar Exxoils Private Limited	Director	25-11-97	25-11-97	-	Active	NO
6	U92132MP1999PLC013585	Bhaskar Multinet Limited	Director	21-06-99	21-06-99	29-09-08	Active	NO
7	U15143MP1998PLC012842	Stitex Global Limited	Director	02-07-01	02-07-01	21-06-08	Active	NO
8	U51109MP1985PTC003141	Bhaskar Foods Private Limited	Director	12-03-04	12-03-04	-	Active	NO
9	U22190GJ1961PTC001097	Saurashtra Samachar Private Limited	Director	21-08-04	21-08-04	-	Active	NO
10	U22120MH2005PLC151377	Diligent Media Corporation Limited	Director	14-08-06	22-03-05	-	Active	NO
11	U92132MP2005PLC018039	Synergy Media Entertainment Limited	Director	17-10-05	17-10-05	-	Active	NO
12	L22210GJ1995PLC047208	Db Corp Limited (Tr. Co. From)	Managing director	01-01-07	10-12-05	-	Active	NO
13	U04520MP2006PTC018399	Surge Developers Private Limited	Director	10-02-06	10-02-06	-	Active	NO
14	U01542MP2006PTC018492	Bhaskar Bio-Fules Private Limited	Director	20-03-06	20-03-06	-	Active	NO
15	U04520MP2006PTC018493	D B Infrastructures Private Limited	Director	20-03-06	20-03-06	09-07-08	Active	NO
16	U51398CT2006PLC018649	Shourya Diamonds Limited	Director	03-05-06	03-05-06	-	Active	NO
17	U51224MP2006PTC018654	Bhaskar Venkatesh Products Private Limited	Director	04-05-06	04-05-06	-	Active	NO
18	U64202MP2006PLC018676	I Media Corp Limited	Director	01-06-06	01-06-06	-	Active	NO
19	U45203MP2006PTC018699	D B Malls Private Limited	Director	14-06-06	14-06-06	-	Active	NO
20	U10200MP2006PLC019161	Db Mining Corp Limited	Director	29-12-06	29-12-06	21-06-08	Active	NO
21	U40109MP2007PTC019345	D B Energy Private Limited	Director	13-03-07	13-03-07	-	Active	NO
22	U72200MH2007PLC171849	India Interactive Technologies Limited	Director	20-06-07	20-06-07	-	Active	NO
23	U92130MP2007PTC019845	Hathway Bhaskar Multinet Private Limited	Director	20-09-07	20-09-07	-	Active	NO
24	U22120MP2007PTC019963	Db Publications Private Limited	Director	01-11-07	01-11-07	-	Active	NO
25	U11101MP2008PLC020377	Diva Oil And Gas Limited	Director	22-02-08	22-02-08	-	Active	NO
26	U15141MP2008PTC020404	Vindhya Solvent Private Limited	Director	29-02-08	29-02-08	-	Active	NO
27	U45200MP2008PTC020793	Aarkey Aditya Developers Private Limited	Director	17-06-08	17-06-08	-	Active	NO
28	U14109MP2008PTC020875	Delta Coal And Mining Private Limited	Director	07-07-08	07-07-08	-	Active	NO
29	U11201MP2008PTC020901	Vista Natural Resources Private Limited	Director	10-07-08	10-07-08	-	Active	NO
30	U40100MP2008PLC020907	Db Power (Chhattisgarh) Limited	Director	10-07-08	10-07-08	-	Active	NO
31	U40100MP2008PLC020903	Db Power (Madhya Pradesh) Limited	Director	10-07-08	10-07-08	01-10-10	Active	NO
32	U40101MP2008PTC020923	Dolby Mining And Power Private Limited	Director	15-07-08	15-07-08	-	Active	NO
33	U13200MP2008PTC020924	Vastu Mines Private Limited	Director	15-07-08	15-07-08	-	Active	NO
34	U92100MP2008PTC020983	Bhaskar Entertainment And Media Private Limited	Director	29-07-08	29-07-08	-	Active	NO
35	U92100MP2008PLC021003	Bhaskar News Media Limited	Director	04-08-08	04-08-08	-	Active	NO
36	U40109MP2008PTC021120	Db Power (Jharkhand) Private Limited	Director	08-09-08	08-09-08	-	Active	NO
37	U40109MP2008PTC021118	Bhaskar Green Power Private Limited	Director	08-09-08	08-09-08	21-08-10	Active	NO
38	U01403MP2008PTC021375	Db Energy And Foods Private Limited	Director	02-12-08	02-12-08	-	Active	NO
39	U70102MP2008PTC021415	Demeurer Developers Private Limited	Director	15-12-08	15-12-08	-	Active	NO
40	U40100MP2009PLC022082	Ample Power Limited	Director	29-06-09	29-06-09	-	Active	NO
41	U45201MP2010PTC022880	Le Soleil Developers Private Limited	Director	04-01-10	04-01-10	-	Active	NO
42	U40100MP2010PTC023556	Vindhya Power Private Limited	Director	13-05-10	13-05-10	-	Active	NO
43	U40100MP2010PTC023553	Daksh Energy Private Limited	Director	13-05-10	13-05-10	-	Active	NO
44	U55101MP2011PTC025196	Deligent Hotel Corporation Private Limited	Director	17-01-11	17-01-11	-	Active	NO

Name :

Mr. Tinkesh Garg

Designation :

Additional Director

Address :

117 Sadar Bazar Road, Shivpuri-473551, Madhya Pradesh, India

Date of Birth/Age :

29.12.1976

Date of Appointment :

01.01.2010

DIN :

03076028

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	U26921MP1992PLC007125	Sharda Solvent Limited	Additional director	01-01-10	01-01-10	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajendra Mittal
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2010

Names of Shareholders	No. of Shares
Ramesh Agarwal	940904
Sudhir Agarwal	185800
Girish Agarwal	133500
Om Prakash Garg	16200
Tinkesh Garg	11000

As on 28.09.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	49.92
Directors or relatives of directors	35.15
Other top fifty shareholders	2.75
Others	12.15
Mutual funds	0.03
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Adible Oil by Extraction of Oil Seeds.

Products :

Product Description	ITC Code
Rapeseed Refined Oil/ Solvent Extracted Oil	15149003
Soya De-Oiled Cake	23040003
Soya Refined Oil/ Solvent Extracted Oil	15079000

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
Crushing of Seeds	TPD	2250	--
Refinery	TPD	410	--
Vanaspati	TPD	250	--
Oil Mill	TPD	725	--
DOC	M.T	--	98434.192
Solvent Oil/Crude	M.T	--	24015.768
Expender Oil	M.T	--	11682.020
Refined Oil	M.T	--	49120.782
Vanaspati	M.T	--	10044.221
Oil Cake	M.T	--	22964.475
Gums, Acid Oil Etc.	M.T	--	3054.381

GENERAL INFORMATION

Bankers :

• Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India
• State Bank of India, Commercial Branch, LHO Complex, Hoshangabad Road, Bhopal-462011, Madhya Pradesh, India
• Axis Bank Limited, ‘Trishul’ 3^rd Floor, Opposite Samartheshwar, Temple, Law Garden, Ellis Bridge, Ahmedabad-380006, Gujarat, India
• Oriental Bank of Commerce
• HDFC Bank Limited
• State Bank of Indore, Shahpura Branch, Bhopal-462016, Andhra Pradesh, India
• IDBI Bank Limited
• ICICI Bank
• State Bank of Hyderabad

Facilities :

Secured Loan (Rs. in Millions)	31.03.2010	31.03.2009
Term Loan From State Bank of Indore	563.174	339.342
From Oriental Bank of Commerce	240.280	286.135
Form IDBI Bank Limited	242.250	0.000
From HDFC Bank (Secured by first mortgage of land and building, and hypothecation of plant and machinery)	29.705	35.220
Working Capital Loans
Form State Bank of Indore	636.966	521.945
Form IDBI Bank Limited	195.577	248.080
Form State Bank of Hyderabad	250.629	71.973
Form Axis Bank Limited	172.439	0.000
From Oriental Bank of Commerce (Secured by hypothecation of stock of raw material, finished goods, work in progress and store and spares ranking pari passu between state bank of indore and Oriental Bank of Commerce [All the loans are guaranteed by directors])	124.099	211.085
Other Loans
From Axis Bank Limited, Bhopal	0.000	499.945
From Canara Bank, Bhopal (Secured by way of first charge by way of Equitable mortgage of Writers and Publishers Limited Land’s located at Ahmedabad, Dehradoon, Kota and Jodhpur)	500.021	0.000
From DCBL	345.355	0.000
From Uco Bank (Secured by way of pledge of stocks)	0.000	56.520
From Yes Bank	250.000	0.000
From ICICI Bank	500.000	0.000
Total	4050.495	2270.246
Unsecured Loans (Rs. in Millions)	31.03.2010	31.03.2009
From Bodies Corporate	0.000	349.877
Total	0.000	349.877

Banking Relations :	--
Auditors :
Name :	Krishna Gupta and Company Chartered Accountants
Address :	105, Parikalp Singhal Tower, Old High Court Road, Gwalior-474009, Madhya Pradesh, India
Tel. No.:	91-751-2628374/ 4086435
Mobile No.:	91-9827075044
Fax No.:	91-751-2628374
Associates/Subsidiaries :	Solvent Trader Private Limited CIN - U52599MP2007PTC020045 Sunshine Solvent Private Limited CIN - U15143MP2007PTC020046

CAPITAL STRUCTURE

As on 29.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
7,000,000	Equity Shares	Rs.10/- each	Rs.70.000 Millions
500,000	Cumulative Convertible Preferences Shares	Rs.100/- each	Rs.50.000 Millions
	Total		Rs.120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5050,000	Equity Shares	Rs.10/- each	Rs.50.500 Millions
500,000	Cumulative Convertible Preferences Shares	Rs.100/- each	Rs.50.000 Millions
	Total		Rs.100.500 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		100.500	100.500	50.500
2] Share Application Money		450.000	450.000	0.000
3] Reserves & Surplus		648.955	546.021	227.936
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1199.455	1096.521	278.436
LOAN FUNDS
1] Secured Loans		4050.495	2270.246	1146.916
2] Unsecured Loans		0.000	349.877	514.488
TOTAL BORROWING		4050.495	2620.123	1661.404
DEFERRED TAX LIABILITIES		193.536	113.082	47.459
TOTAL		5443.486	3829.726	1987.299
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1685.375	1256.780	342.301
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.200	0.200	0.200
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1058.018	1542.977	867.973
	Sundry Debtors	3723.985	1645.944	938.598
	Cash & Bank Balances	241.805	311.683	42.936
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	429.343	207.436	250.702
Total Current Assets		5453.151	3708.040	2100.209
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1637.782	1109.205	426.315
	Other Current Liabilities	50.359	23.468	8.671
	Provisions	8.893	3.734	20.425
Total Current Liabilities		1697.034	1136.407	455.411
Net Current Assets		3756.117	2571.633	1644.798
PRE OPERATIVE EXPENSES		1.794	1.113	0.000
TOTAL		5443.486	3829.726	1987.299

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	11875.184	9126.780	5648.880
		Other Income	75.999	6.467	4.062
		TOTAL (A)	11951.183	9133.247	5652.942
Less	EXPENSES
		Purchases for Trading	3794.498	2960.103	1888.997
		Raw Material Consumed	6661.704	5431.755	3157.819
		Manufacturing Expenses	430.591	282.624	220.916
		Employees Remuneration	47.475	24.464	10.163
		Selling, Administration and other Expenses	324.214	193.292	250.758
		Increase/ Decrease in Stock	76.881	(123.031)	(33.463)
		TOTAL (B)	11335.363	8769.207	5495.190
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		615.820	364.040	157.752
Less	FINANCIAL EXPENSES (D)		345.605	121.636	82.071
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		270.215	242.404	75.681
Less/ Add	DEPRECIATION/ AMORTISATION (F)		75.249	33.963	20.701
	PROFIT BEFORE TAX (E-F) (G)		194.966	208.441	54.980
Less	TAX (H)		89.347	70.356	20.004
Less	Income Tax Adjustments for Earlier year		2.684	0.000	0.181
	PROFIT AFTER TAX (G-H) (I)		102.935	138.085	34.795
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.321	0.236	0.141
Less	APPROPRIATIONS
		Transfer to General Reserve	100.000	138.000	34.700
	BALANCE CARRIED TO THE B/S		3.256	0.321	0.236
	Earnings Per Share (Rs.)		19.03	24.88	6.89

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.86	1.51	0.62
Net Profit Margin (PBT/Sales)	(%)	1.64	2.28	0.97
Return on Total Assets (PBT/Total Assets}	(%)	2.73	4.20	2.25
Return on Investment (ROI) (PBT/Networth)		0.16	0.19	0.20
Debt Equity Ratio (Total Liability/Networth)		4.79	3.43	7.60
Current Ratio (Current Asset/Current Liability)		3.21	3.26	4.61

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS: 

The Company's overall performance was excellent during the year. The Total Turnover and Other Income of the Company during the year was Rs.11874.302 Millions as compared to Rs.9256.279 Millions. The profit before tax decreased from Rs.208.441 millions in FY 08-09 to Rs.194.966 millions in FY 09-10. The company has transferred Rs.100.000 Millions to the General Reserves in the year. 

Contingent Liabilities: bank guarantee given on company’s behalf of Rs.20.300 millions [Previous year 22.700 millions]

Bankers Charges Report as per Registry

Corporate identity number of the company	U26921MP1992PLC007125
Name of the company	SHARDA SOLVENT LIMITED
Address of the registered office or of the principal place of business in India of the company	Dwarka Sadan, 6 Press Complex, M P Nagar, Bhopal – 462 011, Madhya Pradesh, India
This form is for	Modification of charge
Charge identification number of the modified	10207887
Type of charge	Movable Property Book Debts Floating Charges Others – Current and Movable Fixed Assets
Particular of charge holder	Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India
Nature of description of the instrument creating or modifying the charge	Supplemental Deed of Hypothecation
Date of instrument Creating the charge	10.03.2011
Amount secured by the charge	Rs.470.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest – Short Term Loan : As agreed at the time of Disbursement Letter of Credit : Commission between, 0.70% to 1.50% p.a. (As per agreed terms) Terms of Repayment – Short Term Loan : Bullet repayment at the end of the tenor of each tranche. Letter of Credit : Twelve Months Extent and Operation of the charge - subservient charge on the current assets and movable fixed assets of the company (More specifically mentioned in the schedule of Deed of Hypothecation dated 10th March 2011)
Short particulars of the property charged	Subservient charge on the current assets and movable fixed assets of the company (More specifically mentioned in the schedule of Deed of Hypothecation dated 10th March 2011)
Particulars of the present modification	Credit Facility has been increased from Rs.400.000 Millions to Rs.470.000 Millions, as under:- 1. Short Term Loan and Letter of Credit Facility : 450.000 Millions 2. Cash Credit Facility : 20.000 Millions

Bankers Charges Report as per Registry

This form is for	Modification of charge
Charge identification number of the modified	10150760
Corporate identity number of the company	U26921MP1992PLC007125
Name of the company	SHARDA SOLVENT LIMITED
Address of the registered office or of the principal place of business in India of the company	Dwarka Sadan, 6 Press Complex, M P Nagar, Bhopal – 462 011, Madhya Pradesh, India
Type of charge	Immovable Property
Particular of charge holder	State Bank of India, Commercial Branch, LHO Complex, Hoshangabad Road, Bhopal-462011, Madhya Pradesh, India
Email	sbi.01920@sbi.co.in
Nature of description of the instrument creating or modifying the charge	Deposit of Title Deed dated 5.1.2011
Date of instrument Creating the charge	05.01.2011
Amount secured by the charge	Rs.5450.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Extent and Operation of the charge Deposit of title deed in respect of immovable properties of the company First charge ranking pari passu in respect of term lenders for Rs.1350.000 millions Second charge ranking pari passu in respect of Consortium Limits: Rs.4100.000 millions.
Short particulars of the property charged	Property mortgaged -Khasra No.682, 683,679,1806/679,681,Patwari alka No.11, situated Village Kachanaria, Tehsil Biaora, Distt Raigarh. Khasra No. 263,264,265 situated at village Banskhedi, Tehsil and Dist Shivpuri together all constructions thereon and plant and machinery installed furniture and fixtures installed therein present and future. Khasra No.134, 213/9,214,215, 217/372,213/10,135/3(new no 763/135), 26/11,135/2,143 and 135/5 situated at Village-Mundla and Padlia, Patwar, Tehsil Dagod, dist Kota (Rajasthan). Plot No.E-35, Riico Industrial Area Growth Centre, Ondela Road, Dholpur together with all constructions thereon and plant and machinery therein present and future. Khasra No.678/1,667/3,situated at Village Kachanariya, Teh. Biaora, Dist. Rajgarh, together with all constructions there on, plant and machinery, installed furniture, fixtures installed therein present and future.
Particulars of the present modification	The Credit facilities limit by SBI Consortium has been enhanced from Rs. 4150.000 millions to Rs. 5450.000 Millions.

Fixed Assets:

· Land and Site Development

· Plant and Machinery

· Building

· Vehicles

· Office and Equipments

· Furniture and Fixtures

· Computers

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.46.38
UK Pound	1	Rs.74.00
Euro	1	Rs.64.48

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	YES
--AFFILIATION	YES/NO	YES
--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.