MIRA INFORM REPORT

Report Date :

16.04.2012

IDENTIFICATION DETAILS

Name :	LAKHANI FOOTWEAR PRIVATE LIMITED

Registered Office :	Plot No. 130, Sector – 24, Faridabad – 121005, Haryana

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	12.10.1982

Com. Reg. No.:	05-014485

Capital Investment / Paid-up Capital :	Rs.61.177 Millions

CIN No.: [Company Identification No.]	U19201HR1982PTC014485

TAN No.: [Tax Deduction & Collection Account No.]	RTKL0661D

PAN No.: [Permanent Account No.]	AAACL3112H

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacture and Exporter of Shoes, Leather Shoes etc.

No. of Employees :	1200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 1823000

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

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. Rajeev
Designation :	Account Department
Contact No.:	91-129-4265555
Date :	12.04.2012

LOCATIONS

Registered Office :	Plot No. 130, Sector – 24, Faridabad – 121005, Haryana, India
Tel. No.:	91-129-4265555/2236709/2236710/2236711/2233796/2238282
Fax No.:	91-129-4060321/ 2234955/2233906/2232790/2446622
E-Mail :	accounts@lakhaniarmaan.com anilpinj@lakhaniarmaan.com
Website :	www.lakhaniarmaan.com
Location :	Owned

Factory :	Plot No.-11, Sector – 11, Sidcul, Haridwar, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Kishan Chand Lakhani

Designation :

Director

Address :

House No. 1278, Sector -14, Faridabad – 121007, Haryana, India

Date of Birth/Age :

21.09.1944

Date of Appointment :

12.10.1982

DIN No.:

00476229

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	U19202MP1980PTC001654	LAKHANI FOOTCARE PRIVATE LIMITED	Director	01-09-80	01-09-80	23-05-08	Active	NO
2	U19201HR1982PTC014485	LAKHANI FOOTWEAR PRIVATE LIMITED	Director	12-10-82	12-10-82	-	Active	NO
3	U25199HR1983PTC015272	LAKHANI RUBBER UDYOG PRIVATE LIMITED	Director	12-09-83	12-09-83	23-05-08	Active	NO
4	U19201HR1984PTC019384	LAKSONS FOOTWEAR PRIVATE LIMITED	Director	23-11-84	23-11-84	23-05-08	Active	NO
5	U24295HR2005PTC035757	NATURAL COATINGS PRIVATE LIMITED	Director	03-06-05	03-06-05	25-01-08	Strike off	NO
6	U19202HR2005PTC035914	LAKHANI SHOES AND APPARELS PRIVATE LIMITED	Director	16-11-05	16-11-05	-	Active	NO
7	U19201HR2006PTC036260	LAKHANI FOOTWEAR AND ACCESORIES PRIVATE LIMITED.	Director	17-07-06	17-07-06	-	Strike off	NO
8	U85195HR2006PTC036263	LAKHANI HEALTH CARE PRIVATE LIMITED	Director	27-07-06	27-07-06	-	Strike off	NO
9	U25517HR2006PTC036308	ARMAAN SHOES PRIVATE LIMITED.	Director	26-08-06	26-08-06	-	Strike off	NO
10	U19115HR2007PTC036576	LAKHANI. ARMAAN. SHOES. PRIVATE. LIMITED	Director	31-01-07	31-01-07	-	Active	NO
11	U19202HR2007PTC036604	ARMAAN FOOTWEAR PRIVATE LIMITED	Director	09-02-07	09-02-07	-	Strike off	NO
12	U19202HR2007PTC036606	LAKHANI REASEARCH AND DEVELOPMENT CENTRE PRIVATE LIMITED	Director	12-02-07	12-02-07	-	Active	NO
13	U25199HR2007PTC036751	LAKHANI RUBBER PRODUCTS PRIVATE LIMITED	Director	11-04-07	11-04-07	-	Active	NO
14	U25190HR2007PTC036759	ARMAAN RUBBER PRODUCTS PRIVATE LIMITED	Director	16-04-07	16-04-07	-	Strike off	NO
15	U19200HR2007PTC036767	LAKHANI ARMAAN FOOTWEAR PRIVATE LIMITED	Director	17-04-07	17-04-07	-	Strike off	NO
16	U19201RJ1979PTC001958	LAKHANI SHOE CO PRIVATE LIMITED	Director	22-05-08	22-05-08	-	Active	NO

Name :

Mr. Kamlesh Lakhani

Designation :

Director

Address :

House No. 1278, Sector -14, Faridabad – 121007, Haryana, India

Date of Birth/Age :

24.08.1949

Date of Appointment :

02.04.1991

DIN No.:

00476297

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	U25199HR1983PTC015272	LAKHANI RUBBER UDYOG PRIVATE LIMITED	Director	25-02-83	25-02-83	23-05-08	Active	NO
2	U19201HR1984PTC019384	LAKSONS FOOTWEAR PRIVATE LIMITED	Director	13-01-87	13-01-87	23-05-08	Active	NO
3	U19202HR1986PTC023055	LAKHANI DETERGENTS AND SOAPS PRIVATE LIMITED	Director	28-03-90	28-03-90	23-05-08	Active	NO
4	U19201HR1982PTC014485	LAKHANI FOOTWEAR Private LIMITED	Director	02-04-91	02-04-91	-	Active	NO
5	U19201HR2006PTC036260	LAKHANI FOOTWEAR AND ACCESORIES PRIVATE LIMITED	Director	17-07-06	17-07-06	-	Strike off	NO
6	U85195HR2006PTC036263	LAKHANI HEALTH CARE PRIVATE LIMITED	Director	27-07-06	27-07-06	-	Strike off	NO
7	U25517HR2006PTC036308	ARMAAN SHOES PRIVATE LIMITED.	Director	26-08-06	26-08-06	-	Strike off	NO
8	U19201RJ1979PTC001958	LAKHANI SHOE CO PRIVATE LIMITED	Director	22-05-08	22-05-08	-	Active	NO

Name :

Mr. Gunjan Lakhani

Designation :

Director

Address :

House No. 1278, Sector -14, Faridabad – 121007, Haryana, India

Date of Birth/Age :

26.01.1974

Date of Appointment :

22.05.2008

DIN No.:

00079800

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	U19201RJ1979PTC001958	LAKHANI SHOE CO PRIVATE LIMITED	Managing director	01-04-08	27-04-96	-	Active	NO
2	U19202HR1986PTC023055	LAKHANI DETERGENTS AND SOAPS PRIVATE LIMITED	Director	05-03-03	05-03-03	23-05-08	Active	NO
3	U24295HR2005PTC035757	NATURAL COATINGS PRIVATE LIMITED	Director	03-06-05	03-06-05	25-01-08	Strike off	NO
4	U19202HR2005PTC035914	LAKHANI SHOES AND APPARELS PRIVATE LIMITED	Director	16-11-05	16-11-05	-	Active	NO
5	U19201HR2006PTC036260	LAKHANI FOOTWEAR AND ACCESORIES PRIVATE LIMITED	Director	17-07-06	17-07-06	-	Strike off	NO
6	U85195HR2006PTC036263	LAKHANI HEALTH CARE PRIVATE LIMITED	Director	27-07-06	27-07-06	-	Strike off	NO
7	U25517HR2006PTC036308	ARMAAN SHOES PRIVATE LIMITED	Director	26-08-06	26-08-06	-	Strike off	NO
8	U19115HR2007PTC036576	LAKHANI. ARMAAN. SHOES. PRIVATE. LIMITED	Director	31-01-07	31-01-07	-	Active	NO
9	U19202HR2007PTC036604	ARMAAN FOOTWEAR PRIVATE LIMITED	Director	09-02-07	09-02-07	-	Strike off	NO
10	U19202HR2007PTC036606	LAKHANI REASEARCH AND DEVELOPMENT CENTRE PRIVATE LIMITED	Director	12-02-07	12-02-07	-	Active	NO
11	U25199HR2007PTC036751	LAKHANI RUBBER PRODUCTS PRIVATE LIMITED	Director	11-04-07	11-04-07	-	Active	NO
12	U25190HR2007PTC036759	ARMAAN RUBBER PRODUCTS PRIVATE LIMITED	Director	16-04-07	16-04-07	-	Strike off	NO
13	U19200HR2007PTC036767	LAKHANI ARMAAN FOOTWEAR PRIVATE LIMITED	Director	17-04-07	17-04-07	-	Strike off	NO
14	U19201HR1982PTC014485	LAKHANI FOOTWEAR PRIVATE LIMITED	Director	22-05-08	22-05-08	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajeev
Designation :	Account Department

Name :	Mr. Kirti Ahuja
Designation :	Secretary
Address :	House No. 2F14, NIT 02, Faridabad – 121001, Haryana, India
Date of Birth/Age :	25.10.1986
Date of Appointment :	11.07.2011

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders		No. of Shares
Kishan Chand Lakhani		2632409
Kamlesh Lakhani		1134000
Lakhani Shoe Company Private Limited, India		2267500
Gunjan Lakhani		83833
TOTAL		6117742

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Bodies corporate	37.06
Directors or relatives of Directors	62.94
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture and Exporter of Shoes, Leather Shoes etc.

Products:

Item Description	Item Code No.

Footwear	64

Exports :

Products :

Finished Goods

Countries :

Middle East

Terms :

Selling :

L/c, Cash and Credit

Purchasing :

L/c, Cash and Credit

PRODUCTION STATUS

As on 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production

Footwear	Pairs	NA	8000000	7428514

GENERAL INFORMATION

Customers :

Retailers

No. of Employees :

1200 (Approximately)

Bankers :

Punjab National Bank, NIT Branch, Nehru Ground, Faridabad – 121001, Haryana, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	1025.818	678.735
Loans taken for vehicles secured	3.471	8.598
Total	1029.289	687.333

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Other debt unsecured	76.313	71.739
Total	76.313	71.739

Banking Relations :	--

Auditors :
Name :	Ranjan Gautam and Associates Chartered Accountant
Address :	B-60,Ground Floor Nehru Ground Opp. Telephone Exchange N I T, Faridabad 121002, Haryana, India
PAN.:	BAIPS2321H

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

10000000	Equity Shares	Rs.10/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

6117742	Equity Shares	Rs.10/- each	Rs.61.177 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		61.177	59.511	45.360
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		394.662	362.022	304.737
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		455.839	421.533	350.097
LOAN FUNDS
1] Secured Loans		1029.289	687.333	566.833
2] Unsecured Loans		76.313	71.739	0.100
TOTAL BORROWING		1105.602	759.072	566.933
DEFERRED TAX LIABILITIES		16.051	10.933	0.000

TOTAL		1577.492	1191.538	917.030

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		699.513	678.626	432.657
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		47.991	47.319	46.432
DEFERREX TAX ASSETS		0.000	0.000	0.652

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1342.558	1191.051	904.503
	Sundry Debtors	353.437	164.440	321.649
	Cash & Bank Balances	28.861	18.806	25.036
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	60.133	69.476	71.986
Total Current Assets		1784.989	1443.773	1323.174
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	643.524	705.380	707.726
	Other Current Liabilities	292.477	251.300	161.559
	Provisions	19.000	21.500	16.600
Total Current Liabilities		955.001	978.180	885.885
Net Current Assets		829.988	465.593	437.289

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		1577.492	1191.538	917.030

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		1772.727	1553.278
		Other Income		3.084	2.970
		TOTAL		1775.811	1556.248

Less	EXPENSES
		Office Expenses		1668.950	1451.401
		Administrative Expenses
		Advertising Expenses
		TOTAL		1668.950	1451.401

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION			106.861	104.847

Less/ Add	DEPRECIATION/ AMORTISATION		NA	44.879	48.982

	PROFIT BEFORE TAX			61.982	55.865

Less	TAX			33.085	17.686

	PROFIT AFTER TAX			28.897	38.179

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			121.842	88.663

Less	APPROPRIATIONS
		Transfer to General Reserve		3.000	5.000
	BALANCE CARRIED TO THE B/S			147.739	121.842

	EARNINGS IN FOREIGN CURRENCY		40.761	52.418	34.662

	IMPORTS
		Raw Materials	163.711	193.027	116.553
		Stores & Spares	7.425	96.719	26.836
	TOTAL IMPORTS		171.136	289.746	143.389

	Earnings Per Share (Rs.)		4.78	4.86	8.42

Particulars

31.03.2012

Sales Turnover (Approximately)

2500.000

The above information has been parted by Mr. Rajeev – Account Department

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	1.63	2.45

Return on Total Assets (PBT/Total Assets}	(%)	NA	2.92	3.18

Return on Investment (ROI) (PBT/Networth)		NA	0.15	0.16

Debt Equity Ratio (Total Liability/Networth)		4.52	4.12	4.15

Current Ratio (Current Asset/Current Liability)		1.87	1.48	1.49

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	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	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	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
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

FORM 8

Corporate identity number of the company	U19201HR1982PTC014485
Name of the company	LAKHANI FOOTWEAR Private LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 130, Sector – 24, Faridabad – 121005, Haryana, India Email: accounts@lakhanifootwear.com
This form is for	Creation of charge
Type of charge	Book Debts Immovable Property Floating Charge
Particular of charge holder	Punjab National Bank, NIT Branch, Nehru Ground, Faridabad – 121001, Haryana, India Email: priyangarg@gmail.com
Nature of instrument creating charge	Hypothecation of moveable assets forming part of fixed/block assets, hypothecation of goods and book debts to secure cash credit facility, agreement of guarantee
Date of instrument Creating the charge	23.03.2011
Amount secured by the charge	Rs.50.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash Credit- Base Rate+5-1= 13.50%(2% Additional Interest For Ad-Hoc Limit Over Existing Roi) Term Loan - Base Rate+5+TP0.50%-1=14%. Terms of Repayment Repayable On Demand Margin RAW MATERIAL, STOCK IN PROCESS, SEMI Finished Goods, Finished Goods - 25% And Book Debts -25%. Extent and Operation of the charge Hypothecation of raw material, stock in process, stores and spares, packing materials, finished goods, receivables and other current assets both present and future. ILC-DA/DP bills accompanied by railway receipts/motor transport receipts covering consignments of raw materials and packing materials from various Indian suppliers. FLC-DA/DP bill accompanied by shipping documents covering consignments of raw materials, consumable spares. Usance period of the bills not to be exceed 180 days from the date of shipment. Others Hypothecation Of all fixed assets present and future forming part of the block assets of the co. Including l and b at plot no.11, Sector-11, Sidcul, Haridwar in the name of the co. Em of l and b at plot no.2m,39 and 40, bp nit fbd in the name of the co. Em l and b at plot no. 259, 130 and 266, sec-24, fbd in the name of the company. Personal guarantee of all director of the company. First charge of all current and fixed assets(present and future) in the name of the co. Limit sanctioned is cash credit Rs.50.00 millions.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Plot No.11, Sector-11, Sidcul, Haridwar Plot No.2m, 39, Nit Faridabad Plot No.2m, 40, Nit Faridabad Plot No.259, Sector-24, Faridabad Plot No.130, Sector-24, Faridabad Plot No.266, Sector-24, Faridabad

Fixed Assets

Land
Building
Plant and Machinery
Mould and Dies
Electronics Installations
Lab Equipment
Furniture and Fixture
Air Conditioner
Office Equipment
Electric Fan and Cooler
Canter
Vehicle
Generator
Computer
Telephone

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.51.41
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	6
--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.

MIRA INFORM REPORT

1342.558

353.437

28.861

0.000

60.133

1784.989

643.524

292.477

19.000

955.001

829.988

NA

NA

NA

4.52

1.87

Unit