MIRA INFORM REPORT

Report Date :

27.04.2012

IDENTIFICATION DETAILS

Name :	TRISHE DEVELOPERS PRIVATE LIMITED

Registered Office :	1^stFloor, Emgore Benefit Fund Society Building, No. 25, Flowers Road, Chennai – 600084, Tamilnadu

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	12.11.2010

Com. Reg. No.:	18-078050

Capital Investment / Paid-up Capital :	Rs.0.100 Million

CIN No.: [Company Identification No.]	U45400TN2010PTC078050

TAN No.: [Tax Deduction & Collection Account No.]	CHET12002E

Legal Form :	Private Limited Liability Company

Line of Business :	Infrastructure Development

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 47000

Status :	New Company

Payment Behaviour :	Slow

Litigation :	Clear

Comments :	Subject is a relatively new company establishing itself gradually. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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

LOCATIONS

Registered Office :	1^stFloor, Emgore Benefit Fund Society Building, No. 25, Flowers Road, Chennai – 600084, Tamilnadu , India
Tel. No.:	91-44-26450060/61
Fax No.:	91-44-26450059
E-Mail :	padmapriya@trishe.in ppca86@yahoo.com rnaservices@yahoo.co.in narasimhan.ramkhumar@gmail.com secretarial@orientgreenpower.com
Website :	http://www.trishe.com

DIRECTORS

As on 31.12.2011

Name :

Mr. Ranganathan Tanjore Swaminathan Venkataraman Vathsala

Designation :

Director

Address :

15, Sarangapani Street, T.Nagar, Chennai - 600017, Tamilnadu, India

Date of Birth/Age :

09.03.1952

Date of Appointment :

07.02.2011

DIN No.:

00006028

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	U29309TN1989PLC017819	GLOBAL POWERTECH EQUIPMENTS LIMITED	Additional director	26-02-08	19-06-96	02-03-12	Active	NO
2	U30007TN2000PLC044410	MALOS INFRASTRUCTURE LIMITED	Director	15-03-00	15-03-00	04-08-07	Strike off	NO
3	U45303TN2000PTC045071	NEST INFRASTRUCTURE PRIVATE LIMITED	Director	30-06-00	30-06-00	04-08-07	Strike off	NO
4	U40109AP2000PLC034752	LEPAKSHI POWER PROJECTS LIMITED	Director	25-04-04	25-04-04	05-03-08	Active	YES
5	U15541TN2004PTC054260	HALDIA COKE AND CHEMICALS PRIVATE LIMITED	Director	26-08-08	11-10-04	02-03-12	Active	NO
6	L65921TN1985PLC070358	ENNORE COKE LIMITED	Managing director	01-08-08	05-12-05	02-03-12	Active	NO
7	L74210TN2000PLC045167	SHRIRAM EPC LIMITED	Director	16-05-08	23-03-06	02-03-12	Active	NO
8	L40108TN2006PLC061665	ORIENT GREEN POWER COMPANY LIMITED	Director	06-12-06	06-12-06	02-03-12	Active	NO
9	U31101TN2006PLC061881	BHARATH WIND FARM LIMITED	Director	28-12-06	28-12-06	14-09-07	Active	NO
10	U31101TN2007PLC061935	SHRIRAM LEITWIND LIMITED	Director	03-01-07	03-01-07	-	Amalgamated	NO
11	U24119TN2009PLC072263	BHARATH COAL CHEMICALS LIMITED	Director	13-07-09	13-07-09	09-03-11	Active	NO
12	L45201TN1988PLC015521	PREMIER ENERGY AND INFRASTRUCTURE LIMITED	Director	18-12-10	29-10-09	02-03-12	Active	NO
13	U28112TN2009PTC072312	S.R.FABRICATORS PRIVATE LIMITED	Director	17-12-09	17-12-09	-	Active	NO
14	U45400TN2010PTC078503	VRONE ENERGY PRIVATE LIMITED	Director	21-12-10	21-12-10	-	Active	NO
15	U45400TN2010PTC078050	TRISHE DEVELOPERS PRIVATE LIMITED	Director	07-02-11	07-02-11	-	Active	NO
16	U45201TN1995PTC032770	EMAS ENGINEERS AND CONTRACTORS PRIVATE LIMITED	Director	14-02-11	14-02-11	-	Active	NO
17	U85110TN2011PTC081759	TRISHE HEALTHCARE VENTURES PRIVATE LIMITED	Director	02-08-11	02-08-11	-	Active	NO
18	U85110TN2010PTC076817	ONE LIFE DIAGNOSTICS AND LONGEVITY CENTER PRIVATE LIMITED	Director	22-10-11	22-10-11	-	Active	NO
19	U22219TN2011PTC083571	VARAM MEDIA PRIVATE LIMITED	Director	14-12-11	14-12-11	-	Active	NO
20	U74999TN2012PTC085578	TRISHE RENEWABLE ENERGY PRIVATE LIMITED	Director	24-04-12	24-04-12	-	Active	NO

Name :

Mr. Ramakrishnan R Srinivasan

Designation :

Director

Address :

3 , 24th East St. Kamaraj Nagar, Thiruvannmiyur, Chennai – 600041, Tamilnadu, India

Date of Birth/Age :

30.07.1966

Date of Appointment :

12.11.2010

DIN No.:

01655065

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	U72200DL1994PTC058580	NETWORK PROGRAMS (INDIA) PRIVATE LIMITED	Director	01-10-07	23-04-07	15-10-08	Active	NO
2	U31101TN2006PLC061881	BHARATH WIND FARM LIMITED	Additional director	02-09-09	02-09-09	14-03-11	Active	NO
3	U40102TN2009PTC073976	GAMMA GREEN POWER PRIVATE LIMITED	Director	17-12-09	17-12-09	09-05-11	Active	NO
4	U40102TN2010PLC074580	GAYATRI GREEN POWER LIMITED	Director	11-02-10	11-02-10	02-05-11	Active	NO
5	U40108TN2010PTC076200	THETA WIND ENERGY PRIVATE LIMITED	Director	17-06-10	17-06-10	17-05-11	Active	NO
6	U40102TN2009PLC072518	ORIENT ECO ENERGY LIMITED	Additional director	27-07-10	27-07-10	12-05-11	Active	NO
7	U40108TN2010PLC077073	BETA SOLAR POWER LIMITED	Director	20-08-10	20-08-10	09-05-11	Active	NO
8	U45400TN2010PTC078050	TRISHE DEVELOPERS PRIVATE LIMITED	Director	12-11-10	12-11-10	-	Active	NO
9	U45400TN2010PTC078503	VRONE ENERGY PRIVATE LIMITED	Director	21-12-10	21-12-10	-	Active	NO
10	U67190TN2011PTC079594	TRIPURASUNDHARI INVESTMENT COMPANY PRIVATE LIMITED	Director	10-03-11	10-03-11	-	Active	NO
11	U45207TN2011PTC082938	TRISHE INFRASTRUCTURE SERVICES PRIVATE LIMITED	Director	31-10-11	31-10-11	-	Active	NO

Name :

Mr. Narasimhan Venkataraman Ramkhumar

Designation :

Director

Address :

Flat H Sunflower Apartments, No.85,Tenth Avenue, Ashok Nagar, Chennai - 600083, Tamilnadu, India

Date of Birth/Age :

11.12.1965

Date of Appointment :

12.11.2010

DIN No.:

02226744

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	U40100TN2009PTC070860	BETA WIND FARM PRIVATE LIMITED	Director	27-02-09	27-02-09	20-04-11	Active	NO
2	U31101TN2006PLC061881	BHARATH WIND FARM LIMITED	Whole-time director	01-02-10	02-05-09	02-05-11	Active	NO
3	U40106TN2008PTC067781	CLARION WIND FARM PRIVATE LIMITED	Director	11-05-09	11-05-09	20-04-11	Active	NO
4	U40109TN2008PTC068602	ALPHA WIND FARM PRIVATE LIMITED	Director	11-05-09	11-05-09	19-07-11	Active	NO
5	U40108TN2010PTC076200	THETA WIND ENERGY PRIVATE LIMITED	Director	17-06-10	17-06-10	17-05-11	Active	NO
6	U40108TN2010PLC077073	BETA SOLAR POWER LIMITED	Director	20-08-10	20-08-10	09-05-11	Active	NO
7	U40106PN2010PTC137311	DVR Beta Energy Private Limited	Nominee director	09-09-10	09-09-10	-	Active	NO
8	U40102TN2009PTC073976	GAMMA GREEN POWER PRIVATE LIMITED	Additional director	12-10-10	12-10-10	07-03-11	Active	NO
9	U45400TN2010PTC078050	TRISHE DEVELOPERS PRIVATE LIMITED	Managing director	05-03-12	12-11-10	-	Active	NO
10	U45400TN2010PTC078503	VRONE ENERGY PRIVATE LIMITED	Director	21-12-10	21-12-10	-	Active	NO
11	U67190TN2011PTC079227	SIDDHAMALLI INVESTMENT CONSULTANTS PRIVATE LIMITED	Director	15-02-11	15-02-11	-	Active	NO
12	U40105TN2011PTC081777	HELIOS URJA PRIVATE LIMITED	Director	03-08-11	03-08-11	-	Active	NO
13	U45400TN2011PTC082100	TRISHE ENERGY PRIVATE LIMITED	Director	26-08-11	26-08-11	-	Active	NO
14	U85110TN2010PTC076817	ONE LIFE DIAGNOSTICS AND LONGEVITY CENTER PRIVATE LIMITED	Director	22-10-11	22-10-11	-	Active	NO
15	U22219TN2011PTC083571	VARAM MEDIA PRIVATE LIMITED	Director	29-12-11	29-12-11	-	Active	NO
16	U22200TN2012PTC084797	PIXAALAYA TECHNOLOGIES PRIVATE LIMITED	Director	06-03-12	06-03-12	-	Active	NO

Name :

Mr. Anantha Rama Krishnan

Designation :

Director

Address :

7/2 Jyotsna, Velacheri, Padmavathy Nagar – II, Street, Chennai – 600042, Tamilnadu, India

Date of Appointment :

04.07.2011

DIN No.:

03460967

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	U93000TN2011PTC079998	SHREE INVESTMENTS AND CONSULTANCY PRIVATE LIMITED	Director	04-04-11	04-04-11	-	Active	NO
2	L65921TN1985PLC070358	ENNORE COKE LIMITED	Director	23-09-11	26-04-11	07-03-12	Active	NO
3	U45400TN2010PTC078050	TRISHE DEVELOPERS PRIVATE LIMITED	Director	31-12-11	04-07-11	-	Active	NO
4	U85110TN2011PTC081759	TRISHE HEALTHCARE VENTURES PRIVATE LIMITED	Director	02-08-11	02-08-11	-	Active	NO
5	U51109WB2009PTC133676	TRILOK VINCOM PRIVATE LIMITED	Director	19-08-11	19-08-11	-	Active	NO
6	U45400TN2011PTC082100	TRISHE ENERGY PRIVATE LIMITED	Director	26-08-11	26-08-11	-	Active	NO
7	U85110TN2011PTC082218	ONE LIFE HOSPITALS PRIVATE LIMITED	Director	07-09-11	07-09-11	-	Active	NO
8	U85110TN2010PTC076817	ONE LIFE DIAGNOSTICS AND LONGEVITY CENTER PRIVATE LIMITED	Director	27-11-11	27-11-11	-	Active	NO
9	U22219TN2011PTC083571	VARAM MEDIA PRIVATE LIMITED	Director	14-12-11	14-12-11	-	Active	NO
10	U74999TN2012PTC085578	TRISHE RENEWABLE ENERGY PRIVATE LIMITED	Director	24-04-12	24-04-12	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.12.2011

Names of Shareholders	Address	No. of Shares
Narasimhan Venkataraman Ramkhumar	Flat H Sunflower Apartments, No.85,Tenth Avenue, Ashok Nagar, Chennai - 600083, Tamilnadu, India	5000
Ramakrishnan R Srinivasan	3 , 24th East St. Kamaraj Nagar, Thiruvannmiyur, Chennai – 600041, Tamilnadu, India	5000
Vrone Energy Private Limited	No. 17A, RR Flats, No. 31, Warren Road, Mylapore, Chennai – 600004, Tamilnadu, India	1700000
Shree Investments and Consultancy Private Limited	3^rd Floor, Egmore Benefit Society, Building 25, Flowers Road, Kilpauk, Chennai – 600084, Tamilnadu, India	290000
	TOTAL	2000000

Equity Share Break up (Percentage of Total Equity)

As on 31.12.2011

Category	Percentage
Bodies corporate	99.50
Directors or relatives of Directors	0.50
Total	100.00

BUSINESS DETAILS

Line of Business :	Infrastructure Development

GENERAL INFORMATION

Suppliers :

PMP Iron and Steel India Limited
R R Computers
Sastha Build Mart
Shri Balaji Steel Industries
Trust Arm Services Private Limited
Visakharn Electrical Work

No. of Employees :

Not Available

Bankers :

HDFC Bank Limited
Punjab National Bank, Door No. 781-785, Anna Salai, Rayala Towers - 3rd Floor, Chennai – 600002, Tamilnadu, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)
HDFC Car Loan	1.600
Total	1.600

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)
Beta Wind Farm Private Limited	3.400
Front Office Consultants Private Limited	13.081
Shallvohana Green Energy Limited	5.000
Stracone Supply Chain Solution Private Limited	8.000
Yeslakshmi Infrastructure Limited	2.500
Total	31.981

Banking Relations :	--

Financial Institution :	Cholamandalam Investment and Fiance Company Limited, Dare House, No. 2, N S Bose Road, Parrys, Chennai – 60001, Tamilnadu, India

Auditors :
Name :	Ramaswamy and Murali Associates Chartered Accountants
Address :	155, Mambalam High Road, Rahgiri, First Floor, T Nagar, Chennai – 600017, Tamilnadu, India
PAN.:	AAEFR8375B

CAPITAL STRUCTURE

After 31.12.2011

Authorised Capital: Rs.125.000 Millions

Issued, Subscribed & Paid-up Capital: Rs.120.000 Millions

As on 31.12.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		10.900
3] Reserves & Surplus		0.743
4] (Accumulated Losses)		0.000
NETWORTH		11.743
LOAN FUNDS
1] Secured Loans		1.600
2] Unsecured Loans		31.981
TOTAL BORROWING		33.581
DEFERRED TAX LIABILITIES		0.000

TOTAL		45.324

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		9.496
Capital work-in-progress		0.000

INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.956
	Cash & Bank Balances	2.400
	Other Current Assets	28.759
	Loans & Advances	16.043
Total Current Assets		48.158
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.313
	Other Current Liabilities	0.996
	Provisions	0.059
Total Current Liabilities		12.368
Net Current Assets		35.790

MISCELLANEOUS EXPENSES		0.038

TOTAL		45.324

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	19.700
		Other Income
		TOTAL	19.700

Less	EXPENSES
		Office Expenses	18.606
		Administrative Expenses
		Advertising Expenses
		TOTAL	18.606

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.094

Less/ Add	DEPRECIATION/ AMORTISATION		0.019

	PROFIT BEFORE TAX		1.075

Less	TAX		0.332

	PROFIT AFTER TAX		0.743

	Earnings Per Share (Rs.)		74.30

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	3.77

Return on Total Assets (PBT/Total Assets}	(%)	1.86

Return on Investment (ROI) (PBT/Networth)		0.09

Debt Equity Ratio (Total Liability/Networth)		3.91

Current Ratio (Current Asset/Current Liability)		3.89

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 one years	Yes
12) Profitability for last one 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	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 has made the first sale during the year. The company during the year has made a net profit before tax of Rs.1.075 millions. The Directors are hopeful of better performance in the years to come.

FORM 8

Corporate identity number of the company	U45400TN2010PTC078050
Name of the company	TRISHE DEVELOPERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1^stFloor, Emgore Benefit Fund Society Building, No. 25, Flowers Road, Chennai – 600084, Tamilnadu, India Email: padmapriya@trishe.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10342548
Type of charge	Movable Property Immovable Property
Particular of charge holder	Punjab National Bank, Door No. 781-785, Anna Salai, Rayala Towers - 3rd Floor, Chennai – 600002, Tamilnadu, India Email: bo0305@pnb.co.in
Nature of instrument creating charge	Memorandum of entry for creation of mortgage on Immovable properties
Date of instrument Creating the charge	27.03.2012
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 6.5% above base rate ie. 17.5% Terms of Repayment Perpetual/on demand Margin 25% Extent and Operation of the charge Exclusive Charge on immovable property
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of Current Assets i.e. Stocks and Book Debts Mortgage of four Immovable properties
Particulars of the present modification	Providing additional Security by way of Memorandum of Entry on immovable properties to secure the loan of Rs.30 Crores.

FIXED ASSETS

Plant and Machinery
Vehicle
Computer
Furniture and Fitting

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 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.52.57
UK Pound	1	Rs.85.03
Euro	1	Rs.69.56

INFORMATION DETAILS

Report Prepared by :

MYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		26

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 repo rt 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

Unit