MIRA INFORM REPORT

Report Date :

09.04.2012

IDENTIFICATION DETAILS

Name :	CHETANYA BUILDCON PRIVATE LIMITED

Formerly Known As :	PRERNA BUILDERS PRIVATE LIMITED

Registered Office :	30, Basant Lok Community Commercial Centre, Vasant Vihar, New Delhi – 110057

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	08.10.1987

Com. Reg. No.:	55-029426

Capital Investment / Paid-up Capital :	Rs.1.507 Millions

CIN No.: [Company Identification No.]	U74899DL1987PTC029426

TAN No.: [Tax Deduction & Collection Account No.]	DELC07782F

PAN No.: [Permanent Account No.]	AAACP1863D

Legal Form :	Private Limited Liability Company

Line of Business :	Engaged in the Business of Construction

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 689000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject is a 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 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

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

LOCATIONS

Registered Office :	30, Basant Lok Community Commercial Centre, Vasant Vihar, New Delhi – 110057, India
Tel. No.:	91-11-26557777
Fax No.:	Not Available
E-Mail :	satinder@salco.in info@salcon.in

DIRECTORS

As on 28.09.2011

Name :

Mr. Vinod Saluja

Designation :

Director

Address :

9 A Jeewan Jyoti Farm, The Green Rajokri, New Delhi – 110038, India

Date of Birth/Age :

09.12.1953

Date of Appointment :

27.11.1987

DIN No.:

00905885

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	U45201DL1987PLC028644	SALUJA CONSTRUCTION COMPANY LIMITED	Whole-time director	28-09-11	17-07-87	-	Active	NO
2	U74899DL1987PTC029426	CHETANYA BUILDCON PRIVATE LIMITED	Director	27-11-87	27-11-87	-	Active	NO
3	U51909DL1984PTC018437	LAXMI BUILDTECH PRIVATE LIMITED	Director	31-03-88	31-03-88	-	Active	NO
4	U74899DL1995PTC067953	CREATIVE EXIM PRIVATE LIMITED	Director	13-05-95	13-05-95	-	Active	NO
5	U70101DL1997PTC085909	GYAN INFRASTRUCTURE COMPANY PRIVATE LIMITED	Director	02-06-01	02-06-01	-	Active	NO
6	U45201DL2004PTC125146	LIFESTYLE BUILDCON PRIVATE LIMITED	Director	12-03-04	12-03-04	-	Active	NO
7	U67120PB1993PTC013923	PAR PROPERTIES AND INVESTMENT SERVICES PRIVATE LIMITED	Director	14-05-04	14-05-04	-	Active	NO
8	U51909DL2004PTC126681	LANDMARK EXIM PRIVATE LIMITED	Director	31-05-04	31-05-04	-	Active	NO
9	U45201DL2004PTC130807	SALUJA DEVELOPERS PRIVATE LIMITED	Director	25-11-04	25-11-04	-	Active	NO
10	U65993DL2005PTC139544	SALUJA FINVEST PRIVATE LIMITED	Director	10-08-05	10-08-05	-	Active	NO
11	U72200DL2006PTC147242	LIFETIME INFOTECH PRIVATE LIMITED	Director	08-03-06	08-03-06	-	Active	NO
12	U72200DL2006PTC148179	LORD KRISHNA I T SERVICES PRIVATE LIMITED	Director	07-04-06	07-04-06	-	Active	NO
13	U74899DL1995PTC067594	PEAK APARTMENTS PRIVATE LIMITED	Director	04-12-06	04-12-06	-	Active	NO
14	U74899DL1989PTC036490	HUTMENTS LAND DEVELOPERS PRIVATE LIMITED	Director	20-12-06	20-12-06	-	Active	NO
15	U51909DL2004PTC124560	FANTASY EXIM PRIVATE LIMITED	Additional director	22-02-08	22-02-08	11-10-08	Active	NO
16	U70109DL2006PTC149433	WELLWORTH PROJECT DEVELOPERS PRIVATE LIMITED	Additional director	01-03-08	01-03-08	-	Active	NO
17	U74899DL1989PTC035068	CARNATION PROPERTIES PRIVATE LIMITED	Director	24-03-08	24-03-08	-	Active	NO
18	U70200DL2009PTC188388	LIFELONG MAINTENANCE PRIVATE LIMITED	Director	13-03-09	13-03-09	-	Active	NO
19	U70101DL2009PTC193909	LUCKY BUILDTECH PRIVATE LIMITED	Director	03-09-09	03-09-09	-	Active	NO
20	U70200DL2009PTC194070	LIFESTYLE MAINTENANCE SERVICES PRIVATE LIMITED	Director	08-09-09	08-09-09	-	Active	NO
21	U45200DL2006PTC153573	OASIS INFRA DEVELOPERS PRIVATE LIMITED	Director	30-09-10	17-08-10	-	Active	NO

Name :

Mrs. Archana Saluja

Designation :

Director

Address :

9 A Jeewan Jyoti Farm, The Green Rajokri, New Delhi – 110038, India

Date of Birth/Age :

07.06.1954

Date of Appointment :

27.11.1987

DIN No.:

00974456

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	U45201DL1987PLC028644	SALUJA CONSTRUCTION COMPANY LIMITED	Whole-time director	28-09-11	17-07-87	-	Active	NO
2	U74899DL1987PTC029426	CHETANYA BUILDCON PRIVATE LIMITED	Director	27-11-87	27-11-87	-	Active	NO
3	U51909DL1984PTC018437	LAXMI BUILDTECH PRIVATE LIMITED	Director	31-03-88	31-03-88	-	Active	NO
4	U74899DL1995PTC067953	CREATIVE EXIM PRIVATE LIMITED	Director	13-05-95	13-05-95	-	Active	NO
5	U67120PB1993PTC013923	PAR PROPERTIES AND INVESTMENT SERVICES PRIVATE LIMITED	Director	14-05-04	14-05-04	-	Active	NO
6	U51909DL2004PTC124560	FANTASY EXIM PRIVATE LIMITED	Additional director	22-02-08	22-02-08	10-10-08	Active	NO
7	U70101DL2009PTC193909	LUCKY BUILDTECH PRIVATE LIMITED	Director	03-09-09	03-09-09	-	Active	NO
8	U70200DL2009PTC194070	LIFESTYLE MAINTENANCE SERVICES PRIVATE LIMITED	Director	08-09-09	08-09-09	-	Active	NO
9	U45201DL2004PTC130807	SALUJA DEVELOPERS PRIVATE LIMITED	Additional director	17-01-12	17-01-12	-	Active	NO

Name :

Mr. Ankush Saluja

Designation :

Director

Address :

9 A Jeewan Jyoti Farm, The Green Rajokri, New Delhi – 110038, India

Date of Birth/Age :

24.01.1979

Date of Appointment :

06.12.1999

DIN No.:

00974183

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	U74899DL1995PTC067953	CREATIVE EXIM PRIVATE LIMITED	Director	01-04-97	01-04-97	-	Active	NO
2	U51909DL1984PTC018437	LAXMI BUILDTECH PRIVATE LIMITED	Director	06-12-99	06-12-99	-	Active	NO
3	U74899DL1987PTC029426	CHETANYA BUILDCON PRIVATE LIMITED	Director	06-12-99	06-12-99	-	Active	NO
4	U45201DL1987PLC028644	SALUJA CONSTRUCTION COMPANY LIMITED	Whole-time director	28-09-11	06-12-99	-	Active	NO
5	U70101DL1997PTC085909	GYAN INFRASTRUCTURE COMPANY PRIVATE LIMITED	Director	02-06-01	02-06-01	-	Active	NO
6	U45201DL2004PTC125146	LIFESTYLE BUILDCON PRIVATE LIMITED	Director	12-03-04	12-03-04	-	Active	NO
7	U51909DL2004PTC126681	LANDMARK EXIM PRIVATE LIMITED	Director	31-05-04	31-05-04	-	Active	NO
8	U45201DL2004PTC130807	SALUJA DEVELOPERS PRIVATE LIMITED	Director	25-11-04	25-11-04	-	Active	NO
9	U65993DL2005PTC139544	SALUJA FINVEST PRIVATE LIMITED	Director	10-08-05	10-08-05	-	Active	NO
10	U72200DL2006PTC147242	LIFETIME INFOTECH PRIVATE LIMITED	Director	08-03-06	08-03-06	-	Active	NO
11	U72200DL2006PTC148179	LORD KRISHNA I T SERVICES PRIVATE LIMITED	Director	07-04-06	07-04-06	-	Active	NO
12	U74899DL1995PTC067594	PEAK APARTMENTS PRIVATE LIMITED	Director	04-12-06	04-12-06	-	Active	NO
13	U74899DL1989PTC036490	HUTMENTS LAND DEVELOPERS PRIVATE LIMITED	Director	20-12-06	20-12-06	-	Active	NO
14	U70109DL2006PTC149433	WELLWORTH PROJECT DEVELOPERS PRIVATE LIMITED	Additional director	01-03-08	01-03-08	-	Active	NO
15	U74899DL1989PTC035068	CARNATION PROPERTIES PRIVATE LIMITED	Director	24-03-08	24-03-08	-	Active	NO
16	U70200DL2009PTC188388	LIFELONG MAINTENANCE PRIVATE LIMITED	Director	13-03-09	13-03-09	-	Active	NO
17	U45200DL2006PTC153573	OASIS INFRA DEVELOPERS PRIVATE LIMITED	Additional director	01-11-10	01-11-10	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2011

Names of Shareholders		No. of Shares
Vinod Saluja		14990
Archana Saluja		40
Vinod Saluja (HUF)		1
Rama Shankar Khanna		1
Sharda Khanna		1
Madan Lal Kumar		1
Ankush Saluja		1
Veena Khullar		1
D.R. Gupta (HUF)		1
Renu Sachdeva		1
S.P. Sachdeva		1
D.R. Gupta		1
Om Arora		1
Rattan Mittal		1
Shama Khanna		1
Savita Ahuja		1
Nidhi Saluja		1
Malti Pasricha		1
Satish Nayar		1
Reena Kumari		1
H.C. Dutta		1
Sonia Gupta		1
Anil Sachdev		1
Satish Khosla		1
Kiran Julka		1
Alok Bhatia		1
Paramjit Singh		1
Anu Kohli		1
Sunil Gupta		1
Narender Singh		1
Richa Mahendru		1
Surinder Singh Paintal		1
Saarthak,Ankush Saluja		1
Arav,Ankush Saluja		1
Geeta Kochhar		1
Manu Kochhar		1
Subhash Bhatia		1
Aman Munjal		1
Abhinav Goyal		1
Jagmohan Singh Luthra		1
Vipin Bansal		1
Swinder Singh Sitara		1
Ashok Chawla		1
Vivek Gupta		1
Devender Salwan		1
TOTAL		15073

Equity Share Break up (Percentage of Total Equity)

As on 28.09.2011

Category	Percentage
Directors or relatives of Directors	99.70
Other top fifty shareholders	0.30
Total	100.00

BUSINESS DETAILS

Line of Business :

Engaged in the Business of Construction

Products :

Product Description	Item Code No

Residential Building	1522

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227 D, Nariman Point, Mumbai – 400021, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans financial institutions secured	418.660	572.142
Total	418.660	572.142

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans others unsecured	802.688	814.502
Loans directors unsecured	652.052	398.979
Total	1454.740	1213.481

Banking Relations :	--

Financial Institution :	Span Holdings Private Limited, 220, Okhla Industrial Estate, Phase III, New Delhi – 110020, India Span Holdings Private Limited, 220, Okhla Industrial Estate, Phase III, New Delhi – 110020, India

Auditors :
Name :	Yogi Associates Chartered Accountant
Address :	E-335 East of Kailash, New Delhi, India
PAN.:	AAAFY0295K

Subsidiaries :	Hutments Land Developers Private Limited Peak Apartments Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

200000	Equity Shares	Rs.100/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

15073	Equity Shares	Rs.100/- each	Rs.1.507 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		1.507	1.507	1.507
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		170.732	127.406	93.979
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		172.239	128.913	95.486
LOAN FUNDS
1] Secured Loans		418.660	572.142	124.621
2] Unsecured Loans		1454.740	1213.481	1232.715
TOTAL BORROWING		1873.400	1785.623	1357.336
DEFERRED TAX LIABILITIES		0.146	0.183	0.000

TOTAL		2045.785	1914.719	1452.822

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		6.996	9.040	0.843
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		453.543	447.315	427.621
DEFERREX TAX ASSETS		0.000	0.000	0.048

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	949.013	1334.266	867.218
	Sundry Debtors	0.600	0.000	0.600
	Cash & Bank Balances	83.611	44.037	28.580
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1154.182	778.035	792.114
Total Current Assets		2187.406	2156.338	1688.512
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	45.579	40.126	59.562
	Other Current Liabilities	541.811	641.394	596.488
	Provisions	14.770	16.454	8.188
Total Current Liabilities		602.160	697.974	664.238
Net Current Assets		1585.246	1458.364	1024.274

MISCELLANEOUS EXPENSES		0.000	0.000	0.036

TOTAL		2045.785	1914.719	1452.822 .

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1423.397	1790.414	1445.972
		Other Income
		TOTAL	1423.397	1790.414	1445.972

Less	EXPENSES
		Administrative and Other Expenses	1362.946	1739.862
		TOTAL	1362.946	1739.862	1423.589 (Including Depreciation)

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		60.451	50.552

Less/ Add	DEPRECIATION/ AMORTISATION		2.341	0.127

	PROFIT BEFORE TAX		58.110	50.425	22.383

Less	TAX		14.770	16.454	8.190

	PROFIT AFTER TAX		43.340	33.972	14.193

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		127.406	93.979	NA

Add	Adjustment for last year		(0.051)	(0.314)	NA

Add	Deferred Tax Assets/ Liability		0.036	(0.231)	NA

	BALANCE CARRIED TO THE B/S		170.731	127.406	NA

	Earnings Per Share (Rs.)		2875.34	NA	941.74

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.04	1.90	0.98

Return on Total Assets (PBT/Total Assets}	(%)	2.65	2.33	1.32

Return on Investment (ROI) (PBT/Networth)		0.34	0.39	0.23

Debt Equity Ratio (Total Liability/Networth)		14.37	19.26	21.17

Current Ratio (Current Asset/Current Liability)		3.63	3.09	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	No
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	Yes
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

NOTE: The registered office address has been changed from 3, Munirka Marag, Vasant Vihar, New Delhi, India to Present address w.e.f 02.05.2011

BACKGROUND

The Company was incorporated on 08.10.1987 and is currently engaged in the business of construction.

FORM 8

Corporate identity number of the company	U74899DL1987PTC029426
Name of the company	CHETANYA BUILDCON PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	30, Basant Lok Community Commercial Centre, Vasant Vihar, New Delhi – 110057, India Email: satinder@salcon.in
This form is for	Creation of charge
Type of charge	Book Debts Immovable Property Any interest in immovable property
Particular of charge holder	Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227 D, Nariman Point, Mumbai – 400021, Maharashtra, India Email: bina.chandarana@kotak.com
Nature of instrument creating charge	Equitable Mortgage by deposit of title deeds
Date of instrument Creating the charge	01.09.2011
Amount secured by the charge	Rs.300.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Bank's base rate plus 8.25% p.a. . . . Currently bank's base rate is 9.75% p.a Terms of Repayment as per agreement Extent and Operation of the charge Equitable Mortgage on 5 Kothis Situated in Rajdoot Marg,Anand Lok, Vasant Vihar and Defence Colony, New Delhi as per Record of Mortgage by deposit of title deeds
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Equitable Mortgage on Second Floor Plot Bearing No 3 Street No F2 Admeasuring 780sq Yds Vasant Vihar New Delhi Equitable Mortgage on entire basement , Ground Floor and First Floor Plot No C-126 Admeasuring 325 Sq Yds Defence Colony New Delhi Equitable Mortgage on entire second and third floor plot no 10 street no F-3 Admeasuring 390 Sq Yds Vasant Vihar New Delhi Equitable Mortgage on entire First and Second Floor Plot No69 Block 48 Admeasuring 375 Sq Yds 14 Rajdoot Marg Chanakyapuri New delhi New delhi Equitable Mortgage on entire Basement and Ground Floor Plot No 4 Street No A-10 Admeasuring 1200 Sq Yds Vasant Vihar New Delhi

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	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		NO
--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		47

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.

MIRA INFORM REPORT

949.013

0.600

83.611

0.000

1154.182

2187.406

45.579

541.811

14.770

602.160

1585.246

3.04

2.65

0.34

14.37

3.63

Unit