1. Summary Information

		Country	India
Company Name	AMPHENOL INTERCONNECT INDIA PRIVATE LIMITED	Principal Name 1	Mr. Marco A Wadia
Status	Good	Principal Name 2	Mr. Robert D John
		Registration #	11-014544
Street Address	Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune – 411026, Maharashtra
Established Date	20.02.1970	SIC Code	--
Telephone#	91-20-306688312	Business Style 1	Manufacturer
Fax #	91-20-27120581	Business Style 2	--
Homepage	www.amphenol-in.com	Product Name 1	Standard and Customised Specialised Connectors
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.7,040,000/-	Product Name 3	--
Shareholders	Foreign holding – 100%	Banking	State Bank of Travancore
Public Limited Corp.	YES	Business Period	42 Years
IPO	YES	International Ins.	--
Public Enterprise	YES	Rating	A (58)
Related Company
Relation	Country	Company Name	CEO
Subsidiaries	--	Amphenol Limited UK	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	102,8991,000	Current Liabilities	383,817,000
Inventories	476,388,000	Long-term Liabilities	0,000
Fixed Assets	501,516,000	Other Liabilities	215,785,000
Deferred Assets	0,000	Total Liabilities	599,602,000
Invest& other Assets	10,812,000	Retained Earnings	1,411,065,000
		Net Worth	1,418,105,000
Total Assets	2,017,707,000	Total Liab. & Equity	2,017,707,000
Total Assets (Previous Year)	1,595,980,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Total Income	2,166,430,000	Net Profit	413,410,000
Total Income (Previous yr)	1,722,920,000	Net Profit(Prev.yr)	330,960,000

MIRA INFORM REPORT

Report Date :

07.03.2012

IDENTIFICATION DETAILS

Name :	AMPHENOL INTERCONNECT INDIA PRIVATE LIMITED
Registered Office :	Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune – 411026, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.02.1970
Com. Reg. No.:	11-014544
Capital Investment / Paid-up Capital :	Rs.7.040 Millions
CIN No.: [Company Identification No.]	U32109MH1970PTC014544
TAN No.: [Tax Deduction & Collection Account No.]	PNEA06007B
PAN No.: [Permanent Account No.]	AACCA3419J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers of Standard and Customised Specialised Connectors used especially in the Telecom in the Defence Industries.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (58)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 5672000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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/Factory/Marketing Head Quarters :	Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune – 411026, Maharashtra, India
Tel. No.:	91-20-306688312/ 27120481 / 30688304 / 30688350 / 353 / 373
Fax No.:	91-20-27120581/ 27129158 / 30688321
E-Mail :	thomask@ampheno-in.com skelkar@amphenol-in.com vbhavsar@amphenol-in.com svpatil@amphenol-in.com surajs@amphenol-in.com vkadam@amphenol-in.com
Website :	www.amphenol-in.com
Regional Office :	Located at: Southern Region Bangalore Central Region Secundrabad Western Region Pune Northern Region New Delhi
Factory 2 :	Plot no 61, Keonics Electronics City, Hosur Road , Bangalore – 560 100.
Tel. No.:	91-80-30283900, 28520178 (Shrikant Gramopadhye (Operations Manager))
Fax No.:	91-80-28520418
E-Mail :	shrikantgramopadhye@amphenol-in.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Marco A Wadia

Designation :

Director

Address :

Thakur House, 173, Jamshedji Tata Road, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

30.01.1956

Date of Appointment :

26.08.2010

DIN No.:

00244357

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	U32109MH1970PTC014544	AMPHENOL INTERCONNECT INDIA PRIVATE LIMITED	Alternate director	26-08-10	01-09-84	-	Active	NO
2	L65921GA1967PLC000157	ZUARI INDUSTRIES LIMITED	Director	15-05-93	15-05-93	-	Active	NO
3	L24124RJ1985PLC003293	CHAMBAL FERTILISERS AND CHEMICALS LIMITED	Director	15-11-94	15-11-94	-	Active	NO
4	U65191TN1997PLC039229	GMAC FINANCIAL SERVICES INDIA LIMITED	Director	03-12-97	03-12-97	-	Under liquidation	NO
5	L28100MH1907PLC000252	JOSTS ENGINEERING COMAPNY LIMITED	Director	02-06-98	02-06-98	-	Active	NO
6	L45200GJ1973PLC050790	STOVEC INDUSTRIES LIMITED	Director	21-05-99	21-05-99	-	Active	NO
7	U33110MH1957PLC010928	JOHNSON AND JOHNSON LIMITED	Director	28-11-03	28-11-03	-	Active	NO
8	U24124GA2002PLC003064	ZUARI MAROC PHOSPHATES LIMITED	Nominee director	23-12-05	23-12-05	-	Active	NO
9	U24129OR1981PLC001020	PARADEEP PHOSPHATES LIMITED	Nominee director	21-03-06	21-03-06	-	Active	NO
10	U74899DL1995PLC071074	SIMON INDIA LIMITED	Director	05-06-06	05-06-06	-	Active	NO
11	U45309KA2007PLC043161	ADVENTZ INFRAWORLD INDIA LIMITED	Director	19-09-08	12-12-07	-	Active	NO
12	U32100TN2008PTC066155	AMPHENOL OMNICONNECT INDIA PRIVATE LIMITED	Alternate director	19-06-08	22-01-08	-	Active	NO
13	U31909PN2010PTC137445	AMPHETRONIX OFFSET INTERCONNECT SOLUTIONS PRIVATE LIMITED	Director	29-09-10	29-09-10	-	Active	NO
14	U65910GA2009PLC006177	ZUARI HOLDINGS LIMITED	Additional director	20-05-11	20-05-11	-	Active	NO

Name :

Mr. Robert D John

Designation :

Whole Time Director

Address :

B-309/409, Gera Park, 15 Boat Club Road, Pune – 411001, Maharashtra, India

Experience :

07.08.1958

Date of Appointment :

09.06.2001

DIN No.:

01820635

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	U32109MH1970PTC014544	AMPHENOL INTERCONNECT INDIA PRIVATE LIMITED	Whole-time director	09-06-01	09-06-01	-	Active	NO
2	U32100TN2008PTC066155	AMPHENOL OMNICONNECT INDIA PRIVATE LIMITED	Alternate director	19-06-08	19-06-08	-	Active	NO
3	U74899DL1967NPL015218	ELCINA ELECTRONIC INDUSTRIES ASSOCIATION OF INDIA	Additional director	28-06-10	28-06-10	-	Active	NO
4	U32202KA2009PTC049616	AMPHENOL MOBILE COMMUNICATION PRODUCTS INDIA PRIVATE LIMITED	Alternate director	15-09-10	15-09-10	08-02-12	Active	NO
5	U31909PN2010PTC137445	AMPHETRONIX OFFSET INTERCONNECT SOLUTIONS PRIVATE LIMITED	Director	29-09-10	29-09-10	-	Active	NO

Name :

Mr. Richard Adam Norwitt

Designation :

Additional Director

Address :

34, Griffith Lane, Ridgefield Ct., USA – 06877

Date of Birth/Age :

17.06.1969

Date of Appointment :

21.12.2009

DIN No.:

02107531

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	U32100TN2008PTC066155	AMPHENOL OMNICONNECT INDIA PRIVATE LIMITED	Director	30-09-09	22-05-08	-	Active	NO
2	U32202KA2009PTC049616	AMPHENOL MOBILE COMMUNICATION PRODUCTS INDIA PRIVATE LIMITED	Director	24-08-10	08-06-09	-	Active	NO
3	U32109MH1970PTC014544	AMPHENOL INTERCONNECT INDIA PRIVATE LIMITED	Director	28-09-10	21-12-09	-	Active	NO

Name :

Mr. Luc Walter

Designation :

Director

Address :

19, Ruc Jacques Hillairet, Paris – 75012, France

Experience :

29.05.1958

Date of Appointment :

20.06.2005

DIN No.:

02936682

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Amphenol Corporation (USA)	28160
LPL Technologies Holding GmbH (Germany)	42240
Total	70400

Equity Share Break up (Percentage of Total Equity)

As on 31.03.2011

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers of Standard and Customised Specialised Connectors used especially in the Telecom in the Defence Industries.

Products :

Product Description	Item Code No.
Connectors	85369090

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	State Bank of Travancore, 1248-A, Asmani Plaza, FC Road, Deccan Gymkhana, Pune – 411004, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountant
Address :	706, B Wing, 7^th Floor, ICC Trade Tower, Senapati Bapat Road, Pune – 411016, Maharashtra, India
Tel. No.:	91-20-66244600
Fax No.:	91-20-66244605
PAN.:	ACCFD4815A
Holding Company :	LPL Technologies Holding GmbH, Germany
Ultimate Holding Company :	Amphenol Corporation
Associates :	Amphenol Tuchel Electroics GMBH Amphenol Limited UK Amphenol East Asia Limited Amphenol Canada Corporation Amphenol Corporation- CNPD Amphenol Corporation – AAO Amphenol Spectra Strip Amphenol RF Asia Corporation, Amphenol Australia Private Limited Amphenol Fiber Optic Products Amphenol Daeshin Elec-Prec Amphenol Spectra Strip Limited Amphenol Corporation – AIPC Amphenol Socapex (Thyez) Amphenol Socapex Dole Times Fiber Communications Inc Amphenol East Asia –Hong Kong Amphenol Aerospace, AESO Netherlands, ASF Dole Amphenol Limited England Amphenol Taiwan Amphenol Ritto Japan, ASD Thyez France, Amphenol - Air LB Germany Amphenol Sine Sys Michingan APJ Japan Amphenol Ltd. UKP ASD Dole France, ADS Korea and Pyle International UK Changzhou Amphenol Fuyang Comm. Eq. Company Limited Amphenol Korea Air Electronics Amphenol Interconnect Products Amphenol Air LB Amphenol Phoneix Interconnect Amphenol Radsok Amphenol PCD Amphenol Sine Systems Amphenol Air LB GmbH,Amphenol ROE Amphenol PYLE - National Limited Ampenol European Sales Operation Amphenol Socapex France Amphenol Do Brasil Limited Amphenol Poland Asia Pacific Sales Operation Amphenol Italia S.P.A Amphenl Malaysia Sdn Bhd Amphenol Canada Operation, Amphenol Air Lb Sas Amphenol Iberica, Amphenol Omniconnect India Private Limited Amphenol Terrier Technology Limited Contact Serve Amphenol Assembletec (Xiamen) Company Limited Amphenol Fiber Systems Amphenol Infocomm Europe Amphenol Assembletec (Xiamen) Company Limited Amphenol Fiber Systems Amphenol Infocomm Europe Shanghai Amphenol Airwave Common Electric Company Limited Amphenol T&M,Guangzhou Amphenol Electric Comm Amphenol Phoneix Interconnect Amphenol East Asia Elec Tech Company Limited Amphenol Touchtel Automotive Division Amphenol KAE, SEFEE Amphetronix Offset Interconnect Solutions Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
75000	Equity Shares	Rs.100/- each	Rs.7.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
70400	Equity Shares	Rs.100/- each	Rs.7.040 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		7.040	7.040	7.040
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1411.065	1217.375	1116.646
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1418.105	1224.415	1123.686
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		13.922	12.395	15.830
TOTAL		1432.027	1236.810	1139.516
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		501.516	431.934	441.378
Capital work-in-progress		10.809	28.993	2.366
INVESTMENT		0.003	0.003	0.003
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	476.388	367.406	320.710
	Sundry Debtors	600.203	408.255	534.905
	Cash & Bank Balances	232.575	240.225	171.589
	Other Current Assets	1.637	1.546	0.000
	Loans & Advances	194.576	117.618	118.912
Total Current Assets		1505.379	1135.050	1146.116
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	264.901	189.712	252.968
	Other Current Liabilities	118.916	28.469	8.241
	Provisions	201.863	140.989	189.138
Total Current Liabilities		585.680	359.170	450.347
Net Current Assets		919.699	775.880	695.769
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1432.027	1236.810	1139.516

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	TURNOVER		2166.430	1722.920	2221.240
	PROFIT AFTER TAX		413.410	330.960	404.330
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		979.900	648.940	244.610
	BALANCE CARRIED TO THE B/S		1402.880	979.900	648.940
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	1352.050	977.807	1400.445
		Commission		3.145	6.181
	TOTAL EARNINGS		1352.050	980.952	1406.626
	IMPORTS
		Raw Materials		52.431	84.335
		Components		316.953	491.902
		Stores & Spares	NA	8.584	7.257
		Capital Goods		11.040	97.560
	TOTAL IMPORTS			389.008	681.054
	Earnings Per Share (Rs.)		6009.00	4701.00	5743.000

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
Debt Equity Ratio (Total Liability/Networth)	0.41	0.29	0.40
Current Ratio (Current Asset/Current Liability)	2.57	3.16	2.54

LOCAL AGENCY FURTHER INFORMATION

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	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

OPERATIONS

The Company’s turnover for the year ended March 31, 2011 is Rs.2166.430 millions for year ended on March 31, 2010 was Rs.1722.920 millions.

COMPANY BACKGROUND

Subject was incorporated on 20th February 1970.

The main activity of the company is the manufacture of Standard and Customized connectors used especially in the Telecom, Defence and Aerospace Industries.

FORM 8

Corporate identity number of the company	U32109MH1970PTC014544
Name of the company	AMPHENOL INTERCONNECT INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune – 411026, Maharashtra, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90090769
Type of charge	Book debts Movable property Others
Particular of charge holder	State Bank of Travancore, 1248-A, Asmani Plaza, FC Road, Deccan Gymkhana, Pune – 411004, Maharashtra, India
Nature of instrument creating charge	Deed of Hypothecation and Supplemental Agreement of Hypothecation of Goods and Assets for increase/Decrease in the Overall Working Capital Limit both the documents executed to create a single and exclusive charge over the all the present and future current assets inclusive of book debts of the borrower company to secure the enhanced limit sanctioned by the Bank.
Date of instrument Creating the charge	05.04.2011
Amount secured by the charge	Rs.545.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest For regular CC:5.75% above SBT Base Rate, effective rate 14.75%p.a. with monthly rests. For BG and LC limits the commission as per the norms of the Bank time to time. Penal interest on default . Terms of repayment : DCC: On Demand. The tenor would be of 12 months. For BG limit of Rs.100.000 Millions the maximum tenor would be 48 months. For one time BG and LC the tenor would be of 12 months. Margin : RM:25% SIP:50% FG:30% Receivables (Cover Period 90 days):40% For Non fund based limits the margin would be of 10% Extent and operation of the charge : SBT Deccan Gymkhana Br. Pune will have first and exclusive charge over all the present and future current assets inclusive of Book Debts of the Company. The Company has extended the Collateral Security of fixed assets of the borrower Company. The Charge will be in continuous mode till the repayment of the entire loan inclusive of interest thereon. Others : The Company, by virtue of the Board Resolution passed on 28/03/2011,has given assent to all the Terms and Conditions, Covenants, as provided in the Bank’s Sanction Letter under reference.DGM/MRO/AIIPL/1 Dated25/02/2011, have executed the related loan document(s)/ Agreement(s) through the Director(s),who have received and signed the documents in physical form and who have been authorized to file eform-8 for modifications in the existing limits and in nature of the charge on agreed terms.
Short Particulars of the property charged	All the present and future current assets and the records related to book debts being maintained at the Registered office and at the Works of the Company situated at 105,Bhosari Industrial Area Pune.
Particulars of the present modification	By this modification, the existing limit of Rs.275.000 Millions has been enhanced to Rs.545.000 Millions by enhancing the present limit of One time BG of Rs.130.000 Millions to 400.000 Millions.(Present limit of Rs.275.000 Millions + enhanced portion of BG Limit of Rs.270.000 Millions making the total charge for Rs.545.000 Millions).

FIXED ASSETS

• Freehold Land
• Buildings
• Plant and Machinery
• Tooling
• Vehicles
• 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] 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	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		58

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.