MIRA INFORM REPORT

Report Date :

20.12.2012

IDENTIFICATION DETAILS

Name :	DATAMINI TECHNOLOGIES (INDIA) LIMITED [w.e.f. 26.01.2006] [Ms. Vijayalaxmi, Accountant has confirmed the above date]
Formerly Known As :	GES TECHNOLOGIES LIMITED
Registered Office :	Unit No. 101/104, SDF IV, Seepz, Andheri (East), Mumbai – 400 096, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.01.1991
Com. Reg. No.:	11-059702
Capital Investment / Paid-up Capital :	Rs.19.150 Millions
CIN No.: [Company Identification No.]	U30007MH1991PLC059702
IEC No.:	2791000046
TAN No.: [Tax Deduction & Collection Account No.]	MUMR08240B
PAN No.: [Permanent Account No.]	AABCG3515E
Legal Form :	A Closely Held Public Limited Company
Line of Business :	Manufacturer, Trader and Exporter of Computer Systems and Accessories.
No. of Employees :	80 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 400000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profit margin of the company is low. However, networth of the company is satisfactory. 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.

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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.

INFORMATION PARTED BY

Name :	Mr. Deepak Varia
Designation :	Accounts Department
Contact No.:	91-22-28290296
Date :	04.12.2012

LOCATIONS

Registered / Head Office :	Unit No. 101/ 104, SDF IV, Seepz, Andheri (East), Mumbai – 400096, Maharashtra, India
Tel. No.:	91-22-28290296/ 28324697/ 40428888
Fax No.:	91-22-28290145/ 28213296
E-Mail :	krishnan@datamini.co.in pahuja@datamini.co.in
Website :	www.datamini.co.in
Area :	3500 sq ft
Location :	Rented
Factory :	Plot No. 6-B, Goa IDC, Daman Industrial Estate, Somnath, Daman-396210, Union Territory, India
Tel. No.:	91-260-2243417
Fax No.:	91-260 - 3096526
E-Mail :	gesdaman@datamini.co.in
Service Centre :	C-117, Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri(East), Mumbai - 400 072, Maharashtra, India
Tel. No.:	91-22-32568511/ 28473782/ 28476071/ 40053782
E-Mail :	gesservice@datamini.co.in (Customer Support)
Warehouse :	Unit No. 1, Ground Floor, Amita Complex, Opposite Laxman Weigh Bridge, Dapoda Road, Val Village, Anjur Phata, Taluka Bhiwandi, District Thane, Maharashtra, India
E-Mail :	gesvasai@datamini.co.in
Branch Office :	Bangalore: 253-58,1st Floor,Sajjan Rao Circle .Chakravarthy Complex V.V. Puram, Banglore-560004, Karnataka India Tel No.: 91-80-41554358 Email : gesbang@datamini.co.in Kolkata: 3D, 3rd Floor, Anurag Apts., 125 Rahasbihary Avenue, Kolkata-7000029, West Bengal, India Tel No.: 91-9830039123, 9836783426 Email : pratik@datamini.co.in kolkata@datamini.co.in Hyderabad: 376,3rd Floor, Chenoy Trade Centre Park Lane, Secunderabad-500003 Andhra Pradesh, India Tel No.: 91-40-27840567 Email : geshyd@datamini.co.in New Delhi: 23, CSC , E- Block ,East of Kailash , New Delhi -110065, India Tel No.: 91-11-30823410

DIRECTORS

AS ON 15.09.2011

Name :	Mr. Pitamber Gopaldas Ahuja
Designation :	Director
Address :	Flat No.14, Navbahar Building, Plot No.464, S.S. VIII, 15^th road, Khar (West), Mumbai – 400 062, Maharashtra, India
Date of Birth/Age :	24.06.1954
Date of Appointment :	19.07.1991
Din No.:	00012549
Name :	Mr. Naresh Ramlabhaya Kapoor
Designation :	Director
Address :	# 45-07, International Plaza, 10, Anson Road, Singapore – 079903, Singapore
Date of Birth/Age :	15.08.1947
Date of Appointment :	22.04.1993
Din No.:	00046554
Name :	Mr. Kunal Pitamber Ahuja
Designation :	Director
Address :	502, Gabbana House, 15^th road, Khar (West), Mumbai – 400 062, Maharashtra, India
Date of Birth/Age :	21.05.1987
Date of Appointment :	16.01.2006
Din No.:	00007073
Name :	Mrs. Prerna Naresh Kapoor
Designation :	Director
Address :	# 45-07, International Plaza, 10, Anson Road, Singapore – 079903, Singapore
Date of Birth/Age :	25.02.1982
Date of Appointment :	16.01.2006
Din No.:	00047262

KEY EXECUTIVES

Name :	Mr. Deepak Varia
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 15.09.2011

Names of Shareholders	No. of Shares
Ahuja Gopaldas Pitamber HUF	12500
Ahuja Pitamber Krati	195521
Ahuja Pitamber Kunal	25000
Ahuja Pitamber Kunal	120000
Ahuja Pitamber Kunal	154521
Ahuja Gopaldas Pitamber	282200
Ahuja Gopaldas Pitamber	50350
Ahuja Pitamber Nikita	103300
Ahuja Pitamber Nikita	28500
Valona Technologies Pte Limited, Singapore	150000
Valona Technologies Pte Limited, Singapore	133200
Valona Technologies Pte Limited, Singapore	334885
Asha Kapoor	325043
Total	1915020

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	32.28
Directors or relatives of directors	67.72
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Trader and Exporter of Computer Systems and Accessories.
Brand Names :	“Datamini”
Exports :
Products :	Computer Systems and Accessories
Countries :	Singapore
Imports :
Products :	Raw Materials and Finished Goods
Countries :	Hong Kong Singapore
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS [AS ON 31.03.2010]

Particulars	Unit	Actual Production
Computers	Nos.	2119
Memory	Nos.	14819

GENERAL INFORMATION

Customers :

Retailers and Others

No. of Employees :

80 [Approximately]

Bankers :

· Central Bank of India,

Seepz Branch, Marol, Andheri (East), Mumbai – 400096, Maharashtra, India

· Punjab National Bank,

Offshore Banking Unit, Seepz, Andheri (East), Mumbai – 400096, Maharashtra, India

Facilities :

Secured Loan	31.03.2011	31.03.2010
	[Rs. in Millions]
Working Capital Loans Banks Secured	0.000	5.496
Total	0.000	5.496
NOTE: Secured by charge on Block of Assets at SEEPZ and Hypothecation of Stock in Trade and book debts. I) Charge on block of assets and unit situated at C-117, Ansa Industrial Estate, Andheri (East), Mumbai – 400072, Maharashtra, India II) Personal Guarantees by Two Directors.

Banking Relations :	--
Auditors :
Name :	V.C. Shah and Company Chartered Accountants
Address :	3^rd Floor, Rajgir Chambers, 12/ 14, Sahid Bhagat Singh Road, Opposite Old Custom House, Mumbai – 400 001, Maharashtra, India
Tel. No.:	91-22-22634021
Fax No.:	91-22-22662667
PAN No:	AADFV8088N
Associates :	· Orbit Peripherals Pte Limited, Singapore · DCPL Compuwiz Private Limited, India · Riddhi Enterprises, India

CAPITAL STRUCTURE

AS ON 15.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs.35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1915020	Equity Shares	Rs.10/- each	Rs.19.150 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		19.150	19.150	19.150
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		81.724	80.193	78.241
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		100.874	99.343	97.391
LOAN FUNDS
1] Secured Loans		0.000	5.496	38.862
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	5.496	38.862
DEFERRED TAX LIABILITIES		4.003	4.723	5.644
TOTAL		104.877	109.562	141.897
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		18.790	20.832	31.572
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.500	0.500	0.500
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	29.106	27.000	44.166
	Sundry Debtors	201.116	102.774	114.901
	Cash & Bank Balances	8.080	3.947	22.104
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	16.002	17.936	26.710
Total Current Assets		254.304	151.657	207.881
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	165.334	59.040	96.975
	Other Current Liabilities	1.779	3.264	2.322
	Provisions	7.022	7.895	5.531
Total Current Liabilities		174.135	70.199	104.828
Net Current Assets		80.169	81.458	103.053
MISCELLANEOUS EXPENSES		5.418	6.772	6.772
TOTAL		104.877	109.562	141.897

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales and Services	1166.303	1006.013	845.703
		Other Income	2.194	3.937	6.386
		TOTAL (A)	1168.497	1009.950	852.089
Less	EXPENSES
		Consumption Materials Changes Inventories	1134.182	964.309
		Manufacturing Service Costs	1.919	11.700
		Employee Related expenses	11.042	10.301
		Administrative Selling and Other Expenses	14.632	14.366	843.129
		Extraordinary Items	(0.543)	0.000
		Prior period Items	0.732	0.060
		TOTAL (B)	1161.964	1009.736	843.129
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.533	9.214	8.960
Less	FINANCIAL EXPENSES (D)		0.615	2.872	4.336
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.918	6.342	4.624
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.907	3.401	3.759
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		3.011	2.941	0.865
Less	TAX (H)		1.479	0.990	0.861
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		1.532	1.951	0.004
	PRIOR YEAR INCOME/EXPENSES (NET)		--	--	(0.103)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		49.526	47.575	47.729
	APPROPRIATIONS
		Tax for earlier year	0.000	0.000	0.055
	BALANCE CARRIED TO THE B/S		51.058	49.526	47.575
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	236.494	97.549	136.147
		For Services	0.000	0.567	0.446
	TOTAL EARNINGS		236.494	98.116	136.593
	IMPORTS
		Raw Materials	213.328	222.513	152.725
	TOTAL IMPORTS		213.328	222.513	152.725
	Earnings / (Loss) Per Share (Rs.)		0.80	1.02	0.002

Particulars	31.03.2012
Sales Turnover [Approximately]	1260.000

The above information has been parted by Mr. Deepak Varia.

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.13	0.19	0.00
Net Profit Margin (PBT/Sales)	(%)	0.26	0.29	0.10
Return on Total Assets (PBT/Total Assets}	(%)	1.10	1.71	0.36
Return on Investment (ROI) (PBT/Networth)		0.03	0.03	0.01
Debt Equity Ratio (Total Liability/Networth)		1.73	0.76	1.48
Current Ratio (Current Asset/Current Liability)		1.46	2.16	1.98

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)
Sundry Creditors
- Creditor due small micro enterprises	--	--	--
- Creditor due Others	165.334	59.040	96.975
Total	165.334	59.040	96.975

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

HIGHLIGHT ON OPERATIONS:

During the year the company has achieved a turnover of sales and service of Rs.1166.303 Millions (Rs.1006.013 Millions). During the year, the company has been able to penetrate successfully government/semi government segment. The company has made an operational profit of Rs.4.555 Millions (Rs.3.002 Millions). The operational profit of the company during the year has been affected primarily due to the recession in the economy.

CURRENT YEAR OUTLOOK:

During the year the company has focused its attention on government/semi government segment, having already established the branch the company has been able to successfully penetrate the market for sale of Notebook Computer the same brand “DATAMINI”. During the year, the company has been able to renew the "RATE CONTRACT' with DGS&D (Directorate General for supply and disposal) which has enhanced the company's business and has provided the opportunity to penetrate the Government / Semi Government undertakings.

CONTINGENT LIABILITIES IN RESPECT OF:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)
Letter of credit and guarantees by banks	9.584	3.626	4.334

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U30007MH1991PLC059702
Name of the company	DATAMINI TECHNOLOGIES (INDIA) LIMITED
Address of the registered office or of the principal place of business in India of the company	Unit No. 101/ 104, SDF IV, Seepz, Andheri (East), Mumbai – 400 096, Maharashtra, India
Type of charge	Book Debts Movable Property [not being pledge] Others
Particular of charge holder	Central Bank of India, Seepz Branch, Marol, Andheri (East), Mumbai – 400096, Maharashtra, India Email: bmmumn1490@centralbank.co.in
Nature of description of the instrument creating or modifying the charge	Deed of Hypothecation (Goods, Book Debts and Other Moveable Assets)
Date of instrument Creating the charge	06.09.2012
Amount secured by the charge	Rs.20.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest BR + 3% p.a Terms of Repayment As may be specified by the Bank from time to time. Margin As may be specified by the Bank from time to time. Extent and Operation of the charge Hypothecation by way of First charge on pari passu basis on Goods, Book Debts and Movables and other assets of the borrower, in favour of CENTRAL BANK OF INDIA as security for repayment of financial facilities granted by the Bank to Borrower of Rs.200Lacs. The said facilities are also secured by Guarantee of (i) Personal Guarantee of Mr. Pitamber Ahuja and Mr. Naresh Kapoor, Directors of the company (ii) M/s Riddhi Enterprises and its partners viz. Mrs. Nikita Ahuja and Mrs. Asha Kapoor. Others Equitable Mortgage of Industrial Plot no. 37 Survey no. 34(I-A) Village Ringanwala Taluka and District Daman(UT) in the name of Riddhi Enterprises
Short particulars of the property charged	Charge on Stocks of raw material, semi finished and finish goods and consumable stores and spares, both present and future. All the present and future book debts outstanding monies receivables claims, bills, rights to or immovable properties and movable assets and which are now due, owing or payable to or belonging to borrower. All the tangible, movable properties and assets of the borrower of whatsover nature including plants, machinery, tools and accessories, stores and spares relating to plant and machineries, furniture... (cont...)... Articles, office equipments, computer, electrical installation and things belong to borrower.

FIXED ASSETS:

· Land

· Building

· Office Equipments

· Factory Equipments

· Plant and Machinery

· Computer

· Vehicle

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 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.54.74
UK Pound	1	Rs.89.02
Euro	1	Rs.72.48

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		43

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.