MIRA INFORM REPORT

Report Date :

05.04.2012

IDENTIFICATION DETAILS

Name :	JAYALAKSHMI TEXTILES PRIVATE LIMITED
Registered Office :	36, Vadugarkottai Street, Aruppukottai – 626101, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.09.1995
Com. Reg. No.:	18-032148
Capital Investment / Paid-up Capital :	Rs.15.000 Millions
CIN No.: [Company Identification No.]	U17111TN1995PTC032148
TAN No.: [Tax Deduction & Collection Account No.]	MRIJ00233C
PAN No.: [Permanent Account No.]	AAAC3891M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Cotton Yarn
No. of Employees :	Not Available

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 943000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

LOCATIONS

Registered Office :	36, Vadugarkottai Street, Aruppukottai – 626101, Tamilnadu, India
Tel. No.:	91-4566-240003
Fax No.:	91-4566-240703
E-Mail :	geejeyaraman@yahoo.co.in
Factory:	Puliyuran Road, Sempati Post, Aruppukotti – 626101, Tamilnadu, India

DIRECTORS

As on 19.08.2011

Name :

Mr. Kannan Ramasamy Naicker

Designation :

Director

Address :

Flat No. 9, Geegeee Castle, 186, Avvai Shanmugamsalai Gopalpuram, Chennai – 600086, Tamilnadu, India

Date of Birth/Age :

09.08.1956

Date of Appointment :

06.07.1995

DIN No.:

00356817

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	U17111TN1951PLC002746	SHRI RAMALINGA MILLS LIMITED	Director	25-08-78	25-08-78	-	Active	NO
2	U60201TN1979PTC007795	SRI VENKATACHALAPATHY TRANSPORTS PRIVATE LIMITED	Director	04-11-11	16-04-79	-	Active	NO
3	U27104TN1961PTC004402	KOVILPATTI STEEL ROLLING INDUSTRIES PRIVATE LIMITED	Director	07-05-79	07-05-79	-	Active	NO
4	U65191TN1980PTC008152	ARUPPUKOTTAI SRI JAYAVILAS FINANCE PRIVATE LIMITED	Director	01-03-80	01-03-80	-	Active	NO
5	U51102TN1981PLC008702	SRI JAYAJOTHI AND COMPANY LIMITED	Whole-time director	25-06-11	07-04-81	-	Active	NO
6	U27104TN1982PTC009175	SREE JAYA VILAS MALLEABLE CASTINGS PRIVATE LIMITED	Director	18-01-82	18-01-82	-	Active	NO
7	U27200TN1984PTC011013	ARUPPUKOTTAI SRI JAYAVILAS INVESTMENTS PRIVATE LIMITED	Director	12-07-84	12-07-84	-	Active	NO
8	U24294TN1985PTC011584	SRI JAYASAKTHI POLYMERS PRIVATE LIMITED	Director	21-02-85	21-02-85	-	Active	NO
9	U27320TN1988PTC015559	SREE JAYA STEELS AND ALLIED INDUSTRIES PRIVATE LIMITED	Director	07-04-88	07-04-88	-	Active	NO
10	U17111TN1989PTC017318	JAI JAGADHAMBIGA TEXTILE MILLS PRIVATE LIMITED	Director	16-07-90	16-07-90	24-03-11	Active	NO
11	U35111TN1983PTC010041	JESUDASONS PRIVATE LIMITED	Director	27-11-91	27-11-91	-	Active	NO
12	U17111TN1992PTC022526	SHRI JAYAVARTHAN SPINNING MILL PRIVATE LIMITED	Director	22-04-92	22-04-92	20-04-10	Active	NO
13	U17111TN1992PTC022984	SRI SATHU SPINNING MILLS PRIVATE LIMITED	Director	01-07-92	01-07-92	20-04-10	Active	NO
14	U65191TN1994PLC028374	SHRI JAYAJOTHI FINANCE LIMITED	Director	22-08-94	22-08-94	-	Active	NO
15	U17111TN1995PTC032148	JAYALAKSHMI TEXTILES PRIVATE LIMITED	Director	06-07-95	06-07-95	-	Active	NO
16	U21012KL1995PLC009698	GREENLAND PAPER MILLS LIMITED	Director	24-11-95	24-11-95	-	Active	NO
17	U17111TN1996PTC034526	SRI JAYA JOTHI TEXTILE MILLS PRIVATE LIMITED	Director	15-02-96	15-02-96	24-03-11	Active	NO
18	U17111TZ2002PTC010375	TELA FABRICS INDIA PRIVATE LIMITED	Director	25-11-02	25-11-02	-	Active	NO
19	U40101TN2002PTC049988	SRI JAYAJOTHI POWER MANAGEMENT COMPANY PRIVATE LIMITED	Director	05-12-02	05-12-02	-	Active	NO
20	U21011TN2002PLC050022	BLUEMOUNT PAPER AND BOARDS LIMITED	Director	12-12-02	12-12-02	10-12-09	Active	NO
21	U45202TN2004PTC054790	JAYANTHA FOUNDATIONS PRIVATE LIMITED	Whole-time director	01-12-04	01-12-04	-	Active	NO
22	U52599TN1992PTC022306	PAARAGAN PAPER PRIVATE LIMITED	Managing director	20-01-05	20-01-05	06-06-11	Active	NO
23	U17112TN2005PTC055700	DIVYALAKSHMI TEXTILES PRIVATE LIMITED	Director	18-03-05	18-03-05	-	Active	NO
24	U29261TN2005PTC058043	ELECTRO JET MACHINERY PRIVATE LIMITED	Director	16-11-05	16-11-05	-	Active	NO
25	U02695TN2006PLC061729	SREE JAYAJOTHI CEMENTS LIMITED	Managing director	01-09-07	12-12-06	-	Active	NO
26	U26941TN2008PLC067877	SREE JOTHI CEMENTS LIMITED	Director	26-05-08	26-05-08	-	Active	NO
27	U55204TN2008PTC068553	SREE JAYAJOTHI INFRA DEVELOPERS PRIVATE LIMITED	Director	14-07-08	14-07-08	-	Active	NO

Name :

Mr. Krishnaveni Kannan

Designation :

Director

Address :

Flat No. 9, Geegeee Castle, 186, Avvai Shanmugamsalai Gopalpuram, Chennai – 600086, Tamilnadu, India

Date of Birth/Age :

16.03.1957

Date of Appointment :

06.07.1995

DIN No.:

00420020

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	U27104TN1961PTC004402	KOVILPATTI STEEL ROLLING INDUSTRIES PRIVATE LIMITED	Director	07-05-79	07-05-79	-	Active	NO
2	U60210TN1979PTC007793	SRI VAIGAI TRANSPORTS PRIVATE LIMITED	Director	18-05-83	18-05-83	20-04-10	Active	NO
3	U60221TN1951PLC000161	ARUPPUKOTTAI SRI JAYA VILAS LIMITED	Director	01-08-86	01-08-86	-	Active	NO
4	U17112TN1980PLC008155	SHRI GOVINDARAJA MILLS LIMITED	Director	01-04-87	01-04-87	09-09-11	Active	NO
5	U27320TN1988PTC015559	SREE JAYA STEELS AND ALLIED INDUSTRIES PRIVATE LIMITED	Director	07-04-88	07-04-88	-	Active	NO
6	U51102TN1981PLC008702	SRI JAYAJOTHI AND COMPANY LIMITED	Whole-time director	25-06-11	20-03-95	-	Active	NO
7	U17111TN1995PTC032148	JAYALAKSHMI TEXTILES PRIVATE LIMITED	Director	06-07-95	06-07-95	-	Active	NO
8	U17111TZ2002PTC010375	TELA FABRICS INDIA PRIVATE LIMITED	Director	25-11-02	25-11-02	-	Active	NO
9	U40101TN2002PTC049988	SRI JAYAJOTHI POWER MANAGEMENT COMPANY PRIVATE LIMITED	Director	05-12-02	05-12-02	-	Active	NO
10	U45202TN2004PTC054790	JAYANTHA FOUNDATIONS PRIVATE LIMITED	Whole-time director	01-12-04	01-12-04	-	Active	NO
11	U17112TN2005PTC055700	DIVYALAKSHMI TEXTILES PRIVATE LIMITED	Director	18-03-05	18-03-05	-	Active	NO
12	U29261TN2005PTC058043	ELECTRO JET MACHINERY PRIVATE LIMITED	Director	16-11-06	16-11-06	-	Active	NO
13	U02695TN2006PLC061729	SREE JAYAJOTHI CEMENTS LIMITED	Director	12-12-06	12-12-06	24-08-09	Active	NO
14	U65191TN1994PLC028374	SHRI JAYAJOTHI FINANCE LIMITED	Director	05-01-07	05-01-07	-	Active	NO
15	U26941TN2008PLC067877	SREE JOTHI CEMENTS LIMITED	Director	26-05-08	26-05-08	-	Active	NO
16	U60201TN1979PTC007795	SRI VENKATACHALAPATHY TRANSPORTS PRIVATE LIMITED	Director	04-11-11	04-11-11	-	Active	NO

Name :

Mr. Gokul Kannan

Designation :

Director

Address :

Flat No. 9, Geegeee Castle, 186, Avvai Shanmugamsalai Gopalpuram, Chennai – 600086, Tamilnadu, India

Date of Birth/Age :

12.09.1981

Date of Appointment :

14.02.2005

DIN No.:

00391940

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	U51102TN1981PLC008702	SRI JAYAJOTHI AND COMPANY LIMITED	Managing director	25-06-11	03-04-02	-	Active	NO
2	U17111TN1995PTC032148	JAYALAKSHMI TEXTILES PRIVATE LIMITED	Director	14-02-05	14-02-05	-	Active	NO
3	U17112TN2005PTC055700	DIVYALAKSHMI TEXTILES PRIVATE LIMITED	Director	18-03-05	18-03-05	-	Active	NO
4	U29261TN2005PTC058043	ELECTRO JET MACHINERY PRIVATE LIMITED	Director	16-11-05	16-11-05	-	Active	NO
5	U02695TN2006PLC061729	SREE JAYAJOTHI CEMENTS LIMITED	Director	12-12-06	12-12-06	-	Active	NO
6	U26941TN2008PLC067877	SREE JOTHI CEMENTS LIMITED	Director	26-05-08	26-05-08	-	Active	NO
7	U55204TN2008PTC068553	SREE JAYAJOTHI INFRA DEVELOPERS PRIVATE LIMITED	Director	14-07-08	14-07-08	-	Active	NO

Name :

Mr. Divya Kannan

Designation :

Director

Address :

Flat No. 9, Geegeee Castle, 186, Avvai Shanmugamsalai Gopalpuram, Chennai – 600086, Tamilnadu, India

Date of Birth/Age :

25.10.1985

Date of Appointment :

03.08.2011

DIN No.:

00391981

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	U17112TN2005PTC055700	DIVYALAKSHMI TEXTILES PRIVATE LIMITED	Director	18-03-05	18-03-05	-	Active	NO
2	U29261TN2005PTC058043	ELECTRO JET MACHINERY PRIVATE LIMITED	Director	16-11-05	16-11-05	-	Active	NO
3	U51102TN1981PLC008702	SRI JAYAJOTHI AND COMPANY LIMITED	Director	02-08-06	02-08-06	-	Active	NO
4	U02695TN2006PLC061729	SREE JAYAJOTHI CEMENTS LIMITED	Director	01-12-07	01-12-07	24-08-09	Active	NO
5	U17111TN1995PTC032148	JAYALAKSHMI TEXTILES PRIVATE LIMITED	Director	03-08-11	03-08-11	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 19.08.2011

Names of Shareholders	No. of Shares
Krishnaveni Kannan	520000
T R Kannan	860200
K Gopal	70300
K Divya	49500
TOTAL	1500000

Equity Share Break up (Percentage of Total Equity)

As on 19.08.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Cotton Yarn

PRODUCTION STATUS

As on 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Cotton Yarn		38316	--	1583789.637 Qty

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Union Bank of India, Madurai Main Branch, P. B. No. 51, Rosary Building, Town Hill Road, Madurai – 625001, Tamilnadu, India
• Tamilnadu Mercantile Bank Limited
• IDBI Bank Limited
• City Union Bank Limited
• State Bank of India
• Indus Ind Bank
• Axis Bank

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Open Cash Credit	85.050	90.008
Corporate Demand Loan	71.944	43.182
Term Loan with other Banks
State Bank of India, Aruppukottai – TUF	0.000	25.491
City Union Bank Limited, Rajapalayam (Wind Mill)	30.971	41.504
IDBI Chennai TUF Loan – 1	54.643	67.500
IDBI Chennai TUF Loan – 2	17.800	0.000
H P Loan – Sndaram Finance Limited	8.363	35.663
Total	268.771	303.348
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Indus Ind Bank, Chennai	0.000	85.329
Dues to Companies under Management	83.249	17.199
Axis Bank, Madurai	0.000	19.728
IDBI Bank Limited Ginner Loan	100.000	100.561
Total	183.249	222.817

Banking Relations :	--
Auditors :
Name :	G. Jeyaraman Chartered Accountant
Address :	No. 5A, Gowshika Mansion, North Gate, S S Colony, Madurai – 625010, Tamilnadu, India
PAN.:	AAWPJ2929D

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs.10/- each	Rs.15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs.10/- each	Rs.15.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		15.000	15.000	15.000
2] Share Application Money		8.500	8.500	8.500
3] Reserves & Surplus		212.370	195.894	209.618
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		235.870	219.394	233.118
LOAN FUNDS
1] Secured Loans		268.771	303.348	359.759
2] Unsecured Loans		183.249	222.817	205.710
TOTAL BORROWING		452.020	526.165	565.469
DEFERRED TAX LIABILITIES		40.979	42.466	41.694
TOTAL		728.869	788.025	840.281
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		361.840	359.924	426.633
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		218.521	218.521	175.811
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	172.040	169.019	70.087
	Sundry Debtors	57.780	61.822	69.916
	Cash & Bank Balances	9.698	22.196	21.237
	Other Current Assets	9.383	10.609	12.169
	Loans & Advances	11.406	129.370	140.300
Total Current Assets		260.307	393.016	313.709
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	107.899	133.028	47.064
	Provisions	3.900	50.408	28.808
Total Current Liabilities		111.799	183.436	75.872
Net Current Assets		148.508	209.580	237.837
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		728.869	788.025	840.281

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	GROSS TURNOVER		532.235	398.418	373.600
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		114.235	102.087	119.588
Less	FINANCIAL EXPENSES		61.273	53.888	57.893
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		52.962	48.199	61.695
Less/ Add	DEPRECIATION/ AMORTISATION		34.315	39.551	42.942
	PROFIT/(LOSS) BEFORE TAX		18.647	8.648	18.753
Less	TAX		2.170	8.785	7.464
	PROFIT/(LOSS) AFTER TAX		16.477	(0.137)	11.289
	EARNINGS IN FOREIGN CURRENCY
		FOB Value	3.150	2.950	23.943
	TOTAL EARNINGS		3.150	2.950	23.943
	IMPORTS
		Stores & Spares	19.833	15.913	0.000
	TOTAL IMPORTS		19.833	35.746	0.000
	Earnings Per Share (Rs.)		10.98	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	3.00	1.15	2.53
Return on Investment (ROI) (PBT/Networth)		0.08	0.04	0.08
Debt Equity Ratio (Total Liability/Networth)		2.39	3.23	2.75
Current Ratio (Current Asset/Current Liability)		2.33	2.14	4.13

LOCAL AGENCY FURTHER INFORMATION

FORM 8

Corporate identity number of the company	U17111TN1995PTC032148
Name of the company	JAYALAKSHMI TEXTILES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	36, Vadugarkottai Street, Aruppukottai – 626101, Tamilnadu, India Email: geejeyaraman@yahoo.co.in
This form is for	Creation of charge
Type of charge	Movable Property
Particular of charge holder	Union Bank of India, Madurai Main Branch, P. B. No. 51, Rosary Building, Town Hill Road, Madurai – 625001, Tamilnadu, India Email: rkblal1301@gmail.com
Nature of instrument creating charge	1.Pledge Agreement (Sd-02) 2.Pledge Agreement (Collateral Management Agent)
Date of instrument Creating the charge	24.06.2011
Amount secured by the charge	Rs.100.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash Credit (Pledge) of Rs.10Cr- Base Rate plus 1.50% (Present BR=10%) i.e. 11.5% (Floating). Excluding CMA charges and without services of SP Terms of Repayment Cash Credit (Pledge) of Rs.10Cr- Repayable on Demand. The facility is valid for 12 months from the date of sanction (i.e. upto May, 2012). Each drawal under the loan facility on revolving basis shall be repaid in 6 months from the date of drawal or expiry of the period of the sanction whichever is earlier Margin Cash Credit (Pledge) of Rs.100.000 millions - 25% Extent and Operation of the charge The Charge operates as exclusive first charge in favour of the Bank as Security for Overall Limit of Rs.100.000 millions, together with interest, commission, cost, charges and other expenses that may accrue and/or be debited to the Company's accounts from time to time.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Pledge of Stocks of Cotton Bales and / or Warehouse Receipts.

FIXED ASSETS

• Land
• Factory Building
• Electrical Generator
• Plant and Machinery
• Electrical Machinery
• Generator
• Furniture and Fixture
• Vehicles
• Office Equipment
• Air conditioner

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.51.05
UK Pound	1	Rs.81.09
Euro	1	Rs.67.39

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	NO
--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.