1. Summary Information

		Country	India
Company Name	LAN MARK SHOPS (INDIA) PRIVATE LIMITED	Principal Name 1	Mr. Jerry Mathew
Status	Moderate	Principal Name 2	Mr. Sandeep Nair
		Registration #	09-017761
Street Address	D - 31/670, Parvathinilayam, Sahodaran Ayyappan Road, Ernakulam - 682019, Kerala, India
Established Date	07.01.2005	SIC Code	----
Telephone#	91-484-2305078	Business Style 1	Dealer
Fax #	Not Available	Business Style 2	----
Homepage	http://www.lanmarkshops.com	Product Name 1	Fast Moving Consumer Goods
# of employees	Not Available	Product Name 2	Electronic Appliances
Paid up capital	Rs. 12,603,960/-	Product Name 3	TV Dealer - Samsung
Shareholders	Directors / Relatives of Directors – 80% Other Top 50 Share Holders – 20%	Banking	The Federal Bank Limited
Public Limited Corp.	No	Business Period	7 years
IPO	No	International Ins.	----
Public Enterprise	No	Rating	B (33)
Related Company
Relation	Country	Company Name	CEO
Entities in which directors are interested	India	Tranzmedia Netvision Private Limited	----
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	26,293,000	Current Liabilities	18,787,000
Inventories	43,783,000	Long-term Liabilities	30,639,000
Fixed Assets	6,186,000	Other Liabilities	1,806,000
Deferred Assets	686,000	Total Liabilities	51,232,000
Invest& other Assets	50,000	Retained Earnings	6,096,000
		Net Worth	25,766,000
Total Assets	76,998,000	Total Liab. & Equity	76,998,000
Total Assets (Previous Year)	58,398,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	737,182,000	Net Profit	2,300,000
Sales(Previous yr)	608,432,000	Net Profit(Prev.yr)	3,854,000

MIRA INFORM REPORT

Report Date :

04.08.2012

IDENTIFICATION DETAILS

Name :	LAN MARK SHOPS INDIA PRIVATE LIMITED
Registered Office :	D - 31/670, Parvathinilayam, Sahodaran Ayyappan Road, Ernakulam - 682019, Kerala.
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.01.2005
Com. Reg. No.:	09-017761
Capital Investment / Paid-up Capital :	Rs.12.604 Millions
CIN No.: [Company Identification No.]	U52339KL2005PTC017761
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer of Fast Moving Consumer Goods - Electronic Appliances, Home Appliances, DVD Player, TV Dealer - Samsung.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (33)

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

Maximum Credit Limit :	USD 100000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	D – 31/670, Parvathinilayam, Sahodaran Ayyappan Road, Ernakulam – 682019, Kerala, India
Tel. No.:	91-484-2305078 / 79
Fax No.:	Not Available
E-Mail :	lanmarkshop@sify.com support@lanmarkshops.com
Website :	http://www.lanmarkshops.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Jerry Mathew

Designation :

Managing Director

Address :

X/89, Kalapura House, Puthenangadi, ThirunakKara, Kottayam - 686001, Kerala, India.

Date of Birth/Age :

09.01.1971

Date of Appointment :

07.01.2005

Din No.:

01351521

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U52324KL1996PTC010985	FASTSERVE TRADELINKS PRIVATE LIMITED	Director	05/12/1996	05/12/1996	-	Active	NO
2	U52339KL2005PTC017761	LAN MARK SHOPS INDIA PRIVATE LIMITED	Managing director	25/06/2007	07/01/2005	-	Active	NO
3	U72200KL2006PTC019168	TRANZMEDIA NETVISION PRIVATE LIMITED	Director	08/02/2006	08/02/2006	-	Active	NO
4	U66010KL1996PLC010093	JRG WEALTH MANAGEMENT LIMITED	Director	22/07/2006	22/07/2006	30/04/2008	Active	NO
5	U74999KL2006PLC020045	Commodity Online (India)Limited	Director	20/03/2009	20/03/2009	-	Active	NO
6	U67190KL2009PLC024798	CELEBRUS COMMODITIES LIMITED	Director	24/09/2009	24/09/2009	-	Active	NO
7	U67120KL2009PLC024797	CELEBRUS CAPITAL LIMITED	Director	24/09/2009	24/09/2009	-	Active	NO

Name :

Mr. Sandeep Nair

Designation :

Director

Address :

X/89, Kalapura House, Puthenangadi, ThirunakKara, Kottayam – 686001, Kerala, India.

Date of Birth/Age :

25.10.1969

Date of Appointment :

20.05.2005

Din No.:

02487636

Name :

Mr. Ramachandran Venkitachelam

Designation :

Director

Address :

X/89, Kalapura House, Puthenangadi, ThirunakKara, Kottayam – 686001, Kerala, India.

Date of Birth/Age :

09.11.1962

Date of Appointment :

07.01.2005

Din No.:

02232130

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U85110KA1994PLC016192	BNA FLEXINET SYSTEMS LIMITED	Director	06/09/1994	06/09/1994	05/05/2008	Active	NO
2	U52339KL2005PTC017761	LAN MARK SHOPS INDIA PRIVATE LIMITED	Director	07/01/2005	07/01/2005	-	Active	NO

Name :

Mr. Binu Purushothaman

Designation :

Director

Address :

6B, Kavadiyarmandir, Javahar Nagar, Trivandrum – 695041, Kerala, India.

Date of Birth/Age :

21.10.1962

Date of Appointment :

20.05.2005

Din No.:

02487584

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U52339KL2005PTC017761	LAN MARK SHOPS INDIA PRIVATE LIMITED	Director	20/05/2005	20/05/2005	-	Active	NO
2	U80302KL2009PTC025050	JOHN AND MARY INTERNATIONAL TRAINING SYSTEMS PRIVATE LIMITED	Director	20/11/2009	20/11/2009	-	Active	NO

Name :

Mr. Zacharian Abraham

Designation :

Director

Address :

Njavallil, Kanji Rappally, Kottayam – 686507, Kerala, India.

Date of Birth/Age :

19.07.2001

Date of Appointment :

20.05.2005

Din No.:

00842401

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U52339KL2005PTC017761	LAN MARK SHOPS INDIA PRIVATE LIMITED	Director	30/09/2011	20/05/2005	-	Active	NO
2	U51399KL2006PTC020102	ELEGANT HOME GALLERY APPLIANCES PRIVATE LIMITED	Managing director	13/12/2006	13/12/2006	-	Active	NO

Name :

Mr. Alex Thomas

Designation :

Director

Address :

E 6, Golden Enclave, Kanji Kuzhy, Kottayam – 686004, Kerala, India.

Date of Birth/Age :

31.10.1961

Date of Appointment :

25.06.2007

Din No.:

00004026

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U26921KL2002PTC015427	NEPTUNE READYMIX CONCRETE PRIVATE LIMITED	Nominee director	01/04/2010	20/05/2002	-	Active	NO
2	U52339KL2005PTC017761	LAN MARK SHOPS INDIA PRIVATE LIMITED	Director	28/09/2007	25/06/2007	-	Active	NO
3	U15499KL2009PTC024969	TIERRA FOOD INDIA PRIVATE LIMITED	Managing director	06/11/2009	06/11/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Jerry Mathew	671250
Ramachandran V	25000
Jaya Kuncheria	7500
Pradeep Nair	100000
Binu Purushothaman	100000
Zachariah Abraham	100000
Annie Alex	46
Dilip Chandran	6000
Bindu James	5000
Santosh Chacko	2500
George Abraham	2500
Regi Varghese	2500
Aby Kurian	2000
Denny Kurien	236100
Total	1260396

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	80.00
Other top fifty shareholders	20.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Dealer of Fast Moving Consumer Goods - Electronic Appliances, Home Appliances, DVD Player, TV Dealer - Samsung.
Products :	FMCG Items

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• The Federal Bank Limited, Panangad Branch, Ernakulam – 682506, Kerala, India.
• The South Indian Bank Limited, Vyttila branch, Vyttila, Kerala, India
• State Bank of Travancore, .Edappally Branch, Edappally. P.O, Kochi – 682024, Kerala, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Working capital loan - State Bank of Travancore	21.089	13.283
Total	21.089	13.283
Note: (Secured by way of: i) First charge of goods, movables and other assets, present and future, including book debts. ii) Personal property of die Managing Director and his relatives iii) Personal guarantee of all directors viz., Jerry Mathew, Alex Thomas, V Ramachandran, Sandeep Nair, Binu Purushothaman, -Zacharia Abraham and relatives of Jerry Mathew viz., Giby Mathew, Baby Mathew, Phyllis Mathew)
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Loan from a Director	0.000	1.554
Channel Finance Facility (Amounts repayable within one year)	9.550	9.811
Total	9.550	11.365

Banking Relations :	--
Auditors :
Name :	BSR And Company Chartered Accountants
Address :	Maruthi Info-Tech Centre, 11-12/1, Inner Ring Road, Koramangala, Bangalore – 560071, Karnataka, India
Tel. No.:	91-80-39806000
Fax No.:	91-80-39806999
PAN.:	AAIFB4734C
Entities in which directors are interested :	· Swamy Agencies · Home Gallery · Ad India Advertisers · Celebrus Capital Limited · Celebrus Commodities Limited · Tranzmedia Netvision Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs. 25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1260396	Equity Shares	Rs. 10/- each	Rs.12.604 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		12.604	12.603	12.443
2] Share Application Money		7.066	0.000	0.000
3] Reserves & Surplus		6.096	5.260	2.881
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		25.766	17.863	15.324
LOAN FUNDS
1] Secured Loans		21.089	13.283	15.507
2] Unsecured Loans		9.550	11.364	3.280
TOTAL BORROWING		30.639	24.647	18.787
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		56.405	42.510	34.111
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.186	1.814	1.356
Capital work-in-progress		0.000	0.391	0.306
INVESTMENT		0.050	0.050	0.050
DEFERREX TAX ASSETS		0.686	0.496	0.157
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	43.783	31.108	16.649
	Sundry Debtors	10.151	12.367	14.767
	Cash & Bank Balances	2.060	1.634	4.423
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	14.082	10.538	7.941
Total Current Assets		70.076	55.647	43.780
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	13.561	11.218	7.372
	Other Current Liabilities	5.226	2.811	2.703
	Provisions	1.806	1.859	1.533
Total Current Liabilities		20.593	15.888	11.608
Net Current Assets		49.483	39.759	32.172
MISCELLANEOUS EXPENSES		0.000	0.000	0.070
TOTAL		56.405	42.510	34.111

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	737.182	608.432	403.538
		Other Income
		TOTAL	737.182	608.432	403.538
	EXPENSES
		Office Expenses
		Administrative Expenses	792.401	650.409	227.677
		Advertising Expenses
		TOTAL	792.401	650.409	227.677
	PROFIT BEFORE TAX		3.595	5.873	4.080
Less	TAX		1.295	2.019	1.319
	PROFIT AFTER TAX		2.300	3.854	2.761
	Earnings Per Share (Rs.)		1.83	3.09	2.87

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.61	0.63	0.68
Return on Total Assets (PBT/Total Assets}	(%)	4.71	10.22	9.03
Return on Investment (ROI) (PBT/Networth)		0.14	0.32	0.26
Debt Equity Ratio (Total Liability/Networth)		1.99	2.26	1.94
Current Ratio (Current Asset/Current Liability)		3.40	3.50	3.77

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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 involved in	----------------------
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)
31]	PAN of Proprietor/Partner/Director, if available	(No)
32]	Passport No of Proprietor/Partner/Director, if available	(No)
33]	Voter ID No of Proprietor/Partner/Director, if available	(No)

BACKGROUND

Subject was incorporated on 7 January 2005 as a private limited company under the Companies Act, 1956. The Company is engaged in the business of trading and marketing of consumer electronics goods through franchisee networks.

PERFORMANCE

The company's business performance during the year resulted in a net profit of Rs.2.301 Millions as against Rs.3.853 Millions for the previous year. Directors propose a dividend of 10% on the paid up capital of the Company which amounts to Rs.1.260 Millions. There was no material change or commitments affecting the financial position of the company or state of affairs since the date of Balance Sheet upto this date of report.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U52339KL2005PTC017761
Name of the company	LAN MARK SHOPS INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	D 31/670 Parvathinilayam, Sahodaran Ayyappan Road, Ernakulam – 682019, Kerala India lanmarkshop@sify.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10067138
Type of charge	· Book debts · Movable property (not being pledge)
Particular of charge holder	State Bank of Travancore, Branch Edappally, Edappally. P.O, Kochi – 682024, Kerala, India edappally@sbt.co.in
Nature of instrument creating charge	Supplemental Agreement of Hypothecation of goods and assets for increase in the overall working capital limit
Date of instrument Creating the charge	05.04.2012
Amount secured by the charge	Rs.40.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per the terms of the agreement Terms of Repayment As per the terms of the agreement Margin As per the terms of the agreement Extent and Operation of the charge First charge on the goods, assets and debts of the company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	goods, assets and debts of the company
Particulars of the present modification	Enhancement of overall limit from Rs.22.500 Millions to Rs.40.000 Millions.

FIXED ASSETS:

· Plant and Machinery

· Computer Equipments

· Furniture and Fixtures

· Vehicles

AS PER WEBSITE

PROFILE

Lan Mark is the fastest growing franchising company that provides multi-brand, multi-product and multi-services to its customers. After five years of operation, Lan Mark Shops has earned the reputation as the leading franchisee network in consumer durables in every nook and corner of Kerala.

With its corporate office in Cochin, 120 franchisees spread across Kerala and three large depots, Lan Mark is today a household name in home appliances, kitchen appliances, fitness solutions, computers, mobile phones and electronic appliances.

BOARD OF DIRECTORS

Chairman of Lan Mark is Mr. Alex Thomas, an industrialist who is in the board of many prominent companies. He is the founder of Neptune Ready Mix Private Limited, which is the first ready mix company in Kerala.

Managing Director of Lan Mark is Mr. Jerry Mathew, who is the brain behind innovative franchisee concept in consumer durable business. Mr. Mathew has years of experience in professional retailing and distribution in home appliances and consumer durables. He is also one of the founding directors of BSE-listed JRG Securities Limited.

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.56.08
UK Pound	1	Rs.87.03
Euro	1	Rs.68.36

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		33

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	-

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.