MIRA INFORM REPORT

Report Date :

27.08.2012

IDENTIFICATION DETAILS

Name :	JATALIA GLOBAL VENTURES LIMITED (w.e.f.18.03.2011)
Formerly Known As :	VISHAKHA INFOTECH LIMITED
Registered Office :	308, Lusa Tower, Azadpur, New Delhi – 110033, India
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.12.1999
Com. Reg. No.:	55-103019
Capital Investment / Paid-up Capital :	Rs.29.777 Millions
CIN No.: [Company Identification No.]	U72200DL1999PLC103019
TAN No.: [Tax Deduction & Collection Account No.]	DELJ08650F
PAN No.: [Permanent Account No.]	AABCV0599F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trading of Computer Parts, Aluminium Scrap, Shares, Steel and Related Product.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Maximum Credit Limit :	USD 340000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing with some cautions.

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 DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ 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 :	308, Lusa Tower, Azadpur, New Delhi – 110033, India
Tel. No.:	91-11-27671990/ 27681990/ 45052820/ 45052824
Fax No.:	91-11-27673889
E-Mail :	info@jatalia.in hr@jatalia.in minerals@jatalia.in metals@jatalia.in vishakha_53@yahoo.com
Website :	http://www.jatalia.in
Dubai Office :	502, NBQ Building, Bank Street, Bur Dubai, Dubai, UAE
Tel. No.:	+97143796494
Fax No.:	+97143796848

DIRECTORS

(AS ON 23.09.2011)

Name :

Mr. Anil Kumar Jain

Designation :

Managing Director

Address :

C-97, Antriksh Apartments, Sector – 14 Extension, Rohini, New Delhi – 110085, India

Date of Birth/Age :

15.11.1962

Date of Appointment :

23.09.2011

DIN No.:

00014601

Other Directorships :

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	U74140DL2004PTC126540	PANOPTIC ALLIANCE PRIVATE LIMITED	Director	21/05/2004	21/05/2004	05/02/2009	Active	NO
2	L15142DL1987PLC029115	AASHEE INFOTECH LIMITED	Director	29/09/2010	04/03/2005	-	Active	NO
3	U72200DL1999PLC103019	JATALIA GLOBAL VENTURES LIMITED	Managing director	23/09/2011	21/03/2005	-	Active	NO
4	U74899DL1982PTC013360	LUSA BUILDERS PRIVATE LIMITED	Director	11/06/2007	07/02/2007	31/01/2009	Active	NO
5	U45209DL2007PTC161690	JATALIA INDUSTRIAL PARK PRIVATE LIMITED	Director	04/04/2007	04/04/2007	24/06/2009	Active	NO
6	U51102DL2004PTC129168	A S TRADELINK PRIVATE LIMITED	Director	02/07/2007	02/07/2007	04/02/2009	Active	NO
7	U01403PB2006PTC030745	BLUE COAST GREENS PRIVATE LIMITED	Director	16/08/2007	16/08/2007	23/01/2009	Active	NO
8	U34300DL2004PTC131051	BALRAJ AUTO PARTS PRIVATE LIMITED	Director	05/01/2012	12/09/2007	-	Active	NO
9	U29214HP1987PLC007699	INDIAN TECHNOMAC COMPANY LIMITED	Additional director	24/05/2008	24/05/2008	21/11/2008	Active	NO
10	U27109DL2003PTC123364	GEE ISPAT PRIVATE LIMITED.	Director	29/05/2008	29/05/2008	07/10/2008	Active	NO
11	U25209DL1996PTC075125	VOGUE MERCANTILE PRIVATE LIMITED	Director	01/08/2008	01/08/2008	05/08/2010	Active	NO
12	U74899DL1971PTC005694	LUSA PRIVATE LIMITED	Director	23/08/2008	23/08/2008	-	Active	NO
13	U65922DL1990PLC039958	JATALIA FINANCE COMPANY LIMITED	Director	15/04/2011	15/04/2011	-	Active	NO
14	U40107DL2010PTC200802	SDE ENERGY AND INFRASTRUCTURE HOLDINGS PRIVATE LIMITED	Additional director	10/08/2011	10/08/2011	18/02/2012	Active	NO

Name :

Mrs. Anshu Jain

Designation :

Director

Address :

C-97, Antriksh Apartments, Sector – 14 Extension, Rohini, New Delhi – 110085, India

Date of Birth/Age :

01.08.1968

Date of Appointment :

09.06.2011

DIN No.:

00036156

Other Directorships :

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	U65922DL1990PLC039958	JATALIA FINANCE COMPANY LIMITED	Director	01/05/1994	01/05/1994	18/04/2011	Active	NO
2	U74899DL1991PTC046329	SIDHVANDAN ENTERPRISES PRIVATE LIMITED	Director	25/08/1994	25/08/1994	02/06/2008	Active	NO
3	U74899DL1993PTC055652	SAMBHAV AGRO FOODS PRIVATE LIMITED	Director	13/04/2005	13/04/2005	12/01/2008	Active	NO
4	U74140DL2004PTC126540	PANOPTIC ALLIANCE PRIVATE LIMITED	Director	04/01/2006	04/01/2006	05/05/2011	Active	NO
5	U55101DL2006PTC146939	JATALIA HOTELS PRIVATE LIMITED	Director	01/03/2006	01/03/2006	18/02/2011	Active	NO
6	U55101DL2006PTC146938	SB INFOSOFT LUDHIANA PRIVATE LIMITED	Director	01/03/2006	01/03/2006	22/01/2008	Active	NO
7	U55101DL2006PTC146940	HARSHEE HOTELS PRIVATE LIMITED	Director	01/03/2006	01/03/2006	22/02/2011	Active	NO
8	U99999DL2006PTC148028	RUPANSHU REALTORS PRIVATE LIMITED	Director	27/03/2006	27/03/2006	22/02/2011	Active	NO
9	U70101DL2006PTC148581	JATALIA PROPERTIES PRIVATE LIMITED.	Director	14/06/2006	14/06/2006	19/02/2011	Active	NO
10	U72900DL2006PTC150293	NORTHERN INDIA COMPUTER EMBROIDERY PRIVATE LIMITED	Director	26/06/2006	26/06/2006	06/04/2012	Active	NO
11	U45209DL2007PTC161690	JATALIA INDUSTRIAL PARK PRIVATE LIMITED	Director	04/04/2007	04/04/2007	-	Active	NO
12	U51102DL2004PTC129168	A S TRADELINK PRIVATE LIMITED	Director	02/07/2007	02/07/2007	21/06/2010	Active	NO
13	U70101DL2006PTC148027	ASHARFI PROPERTIES AND DEVELOPRS PPRIVATE LIMITED	Director	15/05/2008	15/05/2008	26/02/2011	Active	NO
14	U29214HP1987PLC007699	INDIAN TECHNOMAC COMPANY LIMITED	Director	30/09/2009	21/11/2008	09/04/2010	Active	NO
15	U24233DL2009PTC191596	INDIAN TECHNOINVESTMENT PRIVATE LIMITED	Director	25/06/2009	25/06/2009	21/06/2010	Active	NO
16	U27205DL2009PLC192248	INDIAN TECHNOMETAL COMPANY LIMITED	Director	15/07/2009	15/07/2009	21/06/2010	Active	NO
17	U27205DL2009PTC192245	INDIAN TECHNOALLOYS COMPANY PRIVATE LIMITED	Director	15/07/2009	15/07/2009	21/06/2010	Active	NO
18	U65191DL2010PTC206419	NEW HORIZONS ASSET RECONSTRUCTION COMPANY PRIVATE LIMITED	Director	29/07/2010	29/07/2010	-	Active	NO
19	U51101DL2009PTC195779	TORRENS ELECTROTECH PRIVATE LIMITED	Director	01/09/2010	01/09/2010	-	Active	NO
20	U72900DL2010PTC197679	ACUTE INFO SOLUTION PRIVATE LIMITED	Director	01/12/2010	01/12/2010	-	Active	NO
21	U74899DL2005PLC139160	PREMIER UDYOG LIMITED	Director	31/03/2011	31/03/2011	14/05/2012	Active	NO
22	U45200DL1995PLC071617	INDO JATALIA COMMODITIES LIMITED	Director	09/05/2011	09/05/2011	-	Active	NO
23	U72200DL1999PLC103019	JATALIA GLOBAL VENTURES LIMITED.	Director	09/06/2011	09/06/2011	-	Active	NO
24	U74899DL1994PTC061476	INDO JATALIA SECURITIES PRIVATE LIMITED	Director	20/07/2011	20/07/2011	-	Active	NO
25	U51109DL1994PLC195260	DEEPMALA DEALER LIMITED	Director	10/08/2011	10/08/2011	-	Active	NO
26	U40106DL2011PTC225356	JATALIA GREEN ENERGY PRIVATE LIMITED	Director	22/09/2011	22/09/2011	-	Active	NO

Name :

Mr. Brij Kishore Sharma

Designation :

Director

Address :

AB-162, Vivekanand Marg, Nirman Nagar, Ajmer Road, Jaipur – 302020, Rajasthan, India

Date of Birth/Age :

16.09.1966

Date of Appointment :

28.04.2011

DIN No.:

01448438

Other Directorships :

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	U67120RJ2000PLC016337	JSEL SECURITIES LIMITED	Whole-time director	10/11/2006	11/10/2003	13/10/2007	Active	NO
2	U67110RJ1983PLC002861	JAIPUR STOCK EXCHANGE LTD	Whole-time director	27/03/2007	27/03/2007	13/10/2007	Active	NO
3	U51101DL2009PTC195779	TORRENS ELECTROTECH PRIVATE LIMITED	Director	15/04/2011	15/04/2011	-	Active	NO
4	U72200DL1999PLC103019	JATALIA GLOBAL VENTURES LIMITED.	Director	28/04/2011	28/04/2011	-	Active	NO
5	U45200DL1995PLC071617	INDO JATALIA COMMODITIES LIMITED	Director	09/05/2011	09/05/2011	-	Active	NO
6	U74899DL1994PTC061476	INDO JATALIA SECURITIES PRIVATE LIMITED	Director	20/07/2011	20/07/2011	-	Active	NO
7	U40106DL2011PTC225356	JATALIA GREEN ENERGY PRIVATE LIMITED	Director	22/09/2011	22/09/2011	-	Active	NO

Name :

Mr. Jatinder Kumar Sharma

Designation :

Director

Address :

144, Pocket 6, Sector 23, Rohini, Delhi – 110085, India

Date of Birth/Age :

24.09.1955

Date of Appointment :

23.08.2011

DIN No.:

03511020

Other Directorships :

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	L65999DL1984PLC018035	JDS FINANCE COMPANY LIMITED	Director	30/09/2011	22/06/2011	-	Active	NO
2	U51109DL1994PLC195260	DEEPMALA DEALER LIMITED	Director	10/08/2011	10/08/2011	-	Active	NO
3	U72200DL1999PLC103019	JATALIA GLOBAL VENTURES LIMITED.	Director	23/08/2011	23/08/2011	-	Active	NO
4	U65922DL1990PLC039958	JATALIA FINANCE COMPANY LIMITED	Director	15/02/2012	15/02/2012	14/05/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

MAJOR SHAREHOLDERS - NOTE AVAILABLE

(AS ON 23.09.2011)

Equity Shares Break – up

Category	Percentage
Bodies corporate	28.92
Directors or relatives of directors	71.08
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading of Computer Parts, Aluminium Scrap, Shares, Steel and Related Product.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	· Bank of India New Delhi S. M. E. Branch, D-4, Udyog Nagar, Rohtak Road, New Delhi - 110041, India · Bank of India Azadpur Branch, Plot No.12, New Sabzi Mandi, Azadpur, New Delhi - 110033, India

Banking Relations :	--
Auditors :
Name :	Pawan Shyam Jain and Company Chartered Accountant
Address :	211, Amber Tower, Commercial Complex, Azadpur, Delhi – 110033, India
PAN No.:	ADLPJ7888B
Other related parties where comman control exists :	· Aoshee Infotech Limited

CAPITAL STRUCTURE

(AS ON 23.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.5/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5955300	Equity Shares	Rs.5/- each	Rs.29.777 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		29.777	29.777	29.777
2] Share Application Money		0.000	0.181	0.000
3] Reserves & Surplus		54.701	53.562	53.451
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		84.478	83.520	83.228
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		0.008	0.008	0.008
TOTAL		84.486	83.528	83.236
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.056	0.072	0.027
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.013	29.213	56.713
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	85.089	0.000	0.000
	Sundry Debtors	36.956	1.559	0.000
	Cash & Bank Balances	0.270	0.127	0.368
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	13.629	52.646	42.456
Total Current Assets		135.944	54.332	42.824
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	50.948	0.031	16.232
	Other Current Liabilities	0.005	0.031	0.003
	Provisions	0.574	0.027	0.093
Total Current Liabilities		51.527	0.089	16.328
Net Current Assets		84.417	54.243	26.496
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		84.486	83.528	83.236

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Operational Income	965.969	0.338	0.435
		TOTAL (A)	965.969	0.338	0.435
Less	EXPENSES
		Cost of Goods Sold	961.412	0.000	0.000
		Office and Administrative Expenses	1.509	0.228	0.132
		TOTAL (B)	962.921	0.228	0.132
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3.048	0.110	0.303
Less	FINANCIAL EXPENSES (D)		1.295	0.002	0.001
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.753	0.108	0.302
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.030	0.018	0.018
	PROFIT BEFORE TAX (E-F) (G)		1.723	0.090	0.284
Less	TAX (H)		0.585	(0.022)	0.088
	PROFIT AFTER TAX (G-H) (I)		1.138	0.112	0.196
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.623	0.511	0.315
	BALANCE CARRIED TO THE B/S		1.761	0.623	0.511
	Earnings Per Share (Rs.)		0.19	0.02	0.03

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.12	33.14	45.06
Net Profit Margin (PBT/Sales)	(%)	0.18	26.63	65.29
Return on Total Assets (PBT/Total Assets}	(%)	1.27	0.17	0.66
Return on Investment (ROI) (PBT/Networth)		0.02	0.00	0.00
Debt Equity Ratio (Total Liability/Networth)		0.61	0.00	0.20
Current Ratio (Current Asset/Current Liability)		2.64	610.47	2.63

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	No
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]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

OPERATIONS

The turnover of the company increased to Rs.965.969 Million as against Rs.0.338 Million reported last year. The company has earned a net profit, before income tax, of Rs.1.723 Millions as against the net profit of Rs,0.090 Million reported last year.

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.55.38
UK Pound	1	Rs.87.80
Euro	1	Rs.69.48

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		32

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.