MIRA INFORM REPORT

Report Date :

27.01.2012

IDENTIFICATION DETAILS

Name :	BIRLA SUN LIFE INSURANCE COMPANY LIMITED
Registered Office :	One Indiabulls Centre, Tower 1, 15^th and 16^th Floor, Jupiter Mill Compound, 841, S B Marg, Elphinstone Road, Mumbai – 400 013, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	04.08.2000
Com. Reg. No.:	11-128110
Capital Investment / Paid-up Capital :	Rs.19695.000 millions
CIN No.: [Company Identification No.]	U99999MH2000PLC128110
TAN No.: [Tax Deduction & Collection Account No.]	MUMB08828B
Legal Form :	A closely held public limited liability company
Line of Business :	Providing Life Insurance Solutions, Policies etc.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 29000000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a Birla group company. It is a well established and a reputed company having satisfactory track. There appear some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. In view of strong promoters, 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.

INFORMATION declined by

Note : Management non co-operative

LOCATIONS

Registered Office :	One Indiabulls Centre, Tower 1, 15^th and 16^th Floor, Jupiter Mill Compound, 841, S B Marg, Elphinstone Road, Mumbai – 400 013, Maharashtra
Tel No.:	91-22-43569000
Fax No.:	Not Available
E-Mail :	puneet.bansall@birlasunlife.com customerservice@birlasunlife.com grouphelpline@birlasunlife.com
Website:	www.insurance.birlasunlife.com
Corporate Office :	Vaman Centre, 6^th Floor, Makhwana Road, Off Andheri-Kurla Road, Andheri (East), Mumbai 400059, Maharashtra
Tel. No.:	91-22-6678 3333 / 6678 3262
Fax No.:	91-22-6678 3262 / 66923232
E-Mail :	bsli@birlasunlife.com / clientservices@birlasunlife.com / rahulsinha@birlasunlife.com / grouphelpline@birlasunlife.com puneet.bansall@birlasunlife.com
Website :	www.birlasunlife.com

DIRECTORS

AS ON 16.06.2011

Name :	Mr. Donald A. Stewart
Designation :	Chairman
Address :	Apartment 606, 10, Bellalr Street, Toronto, Canada
Date of Birth/Age :	06.11.1948
Date of Appointment :	24.12.2000
DIN No.:	00438164

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	U65991MH1994PLC080811	Birla Sun Life Asset Management Company Limited	Director	29-09-00	29-09-00	-	Active	NO
2	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Director	10-11-09	24-12-00	-	Active	NO

Name :	Mr. Kumar Mangalam Birla
Designation :	Director
Address :	Mangal Aditnarayan , 20 Carmichael Road, Mumbai – 400 026, Maharashtra
Date of Birth/Age :	14.06.1967
Date of Appointment :	04.08.2000
DIN No.:	00012813

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	L17199GJ1956PLC001107	Aditya Birla Nuvo Limited	Director	23-09-92	23-09-92	-	Active	NO
2	L17124MP1947PLC000410	Grasim Industries Limited	Director	14-10-92	14-10-92	-	Active	NO
3	L27020MH1958PLC011238	Hindalco Industries Limited	Director	16-11-92	16-11-92	-	Active	NO
4	U80300MH1987GAP042663	G.D.Birla Medical Research And Education Foundation	Director	20-09-93	20-09-93	-	Active	NO
5	U70101MP1986PTC003398	Gwalior Properties And Estates Private Limited	Director	13-06-94	13-06-94	-	Active	NO
6	U51109MP1985PTC002775	Trapti Trading and Investment Private Limited	Director	13-06-94	13-06-94	-	Active	NO
7	U67120MP1989PTC005169	Turquoise Investments And Finance Private Limited	Director	13-06-94	13-06-94	-	Active	NO
8	U70101MP1986PTC003444	Seshasayee Properties Private Limited	Director	13-06-94	13-06-94	-	Active	NO
9	U65991MH1994PLC080811	Birla Sun Life Asset Management Company Limited	Director	28-10-95	28-10-95	-	Active	NO
10	U67120MH1980PTC023476	Birla Group Holdings Private Limited	Director	31-07-98	31-07-98	-	Active	NO
11	U73100MH1999PTC118379	Aditya Birla Management Corporation Private Limited	Director	15-06-99	15-06-99	-	Active	NO
12	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Director	04-08-00	04-08-00	-	Active	NO
13	U72200KA1976PLC027564	Aditya Birla Minacs It Services Limited	Director	24-10-01	24-10-01	24-04-08	Amalgamated	NO
14	U80101MH2002NPL136300	Pratham Education Foundation	Director	01-10-02	01-10-02	-	Active	NO
15	U99999KA1995PLC052040	Aditya Birla Minacs Worldwide Limited	Additional director	12-10-10	21-07-03	11-04-11	Active	NO
16	U51109WB1950PLC018728	Essel Mining and Industries Limited	Director	09-05-04	09-05-04	-	Active	NO
17	L26940MH2000PLC128420	Ultratech Cement Limited	Director	14-05-04	14-05-04	-	Active	NO
18	U65993MH2002PTC135827	Tgs Investment and Trade Private Limited	Director	17-12-04	17-12-04	-	Active	NO
19	U67120MH1982PTC028144	Vikram Holdings Private Limited	Director	24-12-04	24-12-04	-	Active	NO
20	U67120MH1982PTC028252	Rajratna Holdings Private Limited	Director	24-12-04	24-12-04	-	Active	NO
21	U67120MH1982PTC026923	Vaibhav Holdings Private Limited	Director	24-12-04	24-12-04	-	Active	NO
22	U67120MH1981PTC025438	Global Holdings Private Limited	Director	24-12-04	24-12-04	-	Active	NO
23	L17120MH1897PLC000163	Century Textile And Industries Limited	Director	07-02-06	07-02-06	-	Active	NO
24	L32100GJ1996PLC030976	Idea Cellular Limited	Director	30-09-06	20-06-06	-	Active	NO
25	U65990MH1988PLC048117	Aditya Birla Retail Limited	Director	29-09-07	28-12-06	13-03-08	Active	NO
26	U65990MH1988PTC048498	Kanishtha Finance And Investment Private Limited	Director	28-09-07	04-01-07	-	Active	NO
27	U74140MH2008PTC179360	Aditya Birla Capital Advisors Private Limited	Director	14-09-09	05-01-09	-	Active	NO
28	U51109WB1918PTC003010	Birla Brothers Private Limited	Director	06-04-10	06-04-10	-	Active	NO
29	L24131WB1948PLC095302	Pilani Investment And Industries Corporation Limited	Director	27-08-10	29-04-10	-	Active	NO
30	L26959GJ2009PLC058011	Samruddhi Cement Limited	Director	24-07-10	18-05-10	-	Amalgamated	NO
31	U45200MH2007PTC173199	Abg Realty And Infrastructure Company Private Limited	Director	30-09-11	21-10-10	-	Active	NO

Name :	Mr. Bishwanath N. Puranmalka
Designation :	Director
Address :	Antariksh Flat No. 182 19rth Floor, 95/96, Kakasaheb Gadgil Road, Prabhadevi, Mumbai – 400 025, Maharashtra, India
Date of Birth/Age :	02.11.1935
Date of Appointment :	04.08.2000
DIN No.:	00007432

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	U61190GJ1997PLC062406	Aditya Birla Money Mart Limited	Director	28-07-98	28-07-98	-	Active	NO
2	U65990GJ1991PLC064603	Aditya Birla Finance Limited	Director	31-03-99	31-03-99	-	Active	NO
3	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Director	04-08-00	04-08-00	-	Active	NO
4	U99999HP1994PLC031518	Bina Power Supply Company Limited	Director	11-11-03	11-11-03	15-05-08	Amalgamated	NO
5	U74899MH1994PTC166755	Birla Sun Life Trustee Company Private Limited	Director	23-09-04	23-09-04	-	Active	NO

Name :	Mr. Gianprakash D. Gupta
Designation :	Director
Address :	101, Kaveri B Wing, Neelkanth, Valley, 7thg Road, Rajawadi, Ghatkopar (E), Mumbai – 400 077, Maharashtra
Date of Birth/Age :	11.01.1941
Date of Appointment :	11.09.2001
DIN No.:	00017639

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	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Director	11-09-01	11-09-01	-	Active	NO
2	L50210PB1985PLC006473	Swaraj Engines Limited	Director	15-09-01	15-09-01	-	Active	NO
3	U40109MP2001SGC014882	Madhya Pradesh Power Generating Company Limited	Director	09-08-02	09-08-02	08-08-07	Active	NO
4	L40105DL1999PLC099328	Ptc India Limited	Director	07-05-04	07-05-04	23-09-10	Active	NO
5	L17199GJ1956PLC001107	Aditya Birla Nuvo Limited	Director	27-04-05	27-04-05	-	Active	NO
6	L36910GJ1985PLC015915	Su-Raj Diamonds And Jewellery Limited	Director	26-07-05	26-07-05	-	Active	NO
7	U67190MH1999PLC120866	Sidbi Venture Capital Limited	Director	26-09-05	26-09-05	-	Active	NO
8	L67120MH1995PLC084899	Emkay Global Financial Services Limited	Director	10-11-05	10-11-05	-	Active	NO
9	L40101DL1975GOI007966	Ntpc Limited	Director	30-01-06	30-01-06	29-01-09	Active	NO
10	U35301KA1963GOI001622	Hindustan Aeronautics Limited	Director	23-02-06	23-02-06	22-02-09	Active	NO
11	L26940GJ1944PLC000749	Shree Digvijay Cement Co Limited	Director	15-06-06	15-06-06	25-03-08	Active	NO
12	L65910DL1986GOI024862	Power Finance Corporation Limited	Director	29-06-06	29-06-06	28-06-09	Active	NO
13	L65110JK1938SGC000048	Jammu And Kashmir Bank Limited	Additional director	19-07-08	26-08-06	10-06-09	Active	NO
14	L32100GJ1996PLC030976	Idea Cellular Limited	Director	12-12-07	11-12-06	-	Active	NO
15	U72900MH2007PTC175831	Avam Technologies Private Limited	Director	12-11-07	12-11-07	-	Active	NO
16	L13100DL1976PLC188942	Landmark Property Development Company Limited	Director	22-09-08	29-01-08	-	Active	NO
17	U65991MH1992PLC069414	Baroda Pioneer Asset Management Company Limited	Director	23-09-08	27-06-08	27-09-11	Active	NO
18	L74899DL1995PLC066827	Spice Communications Limited	Director	02-09-09	23-10-08	-	Amalgamated	NO
19	U74140MH2008PTC179360	Aditya Birla Capital Advisors Private Limited	Director	14-09-09	21-04-09	-	Active	NO
20	U45200MH1995PLC093041	Lodha Developers Limited	Director	22-09-09	09-09-09	24-12-11	Active	NO
21	U45200MH2007PTC168707	Lodha Elevation Buildcon Private Limited	Director	23-09-10	25-09-09	24-12-11	Active	NO
22	U35110MH2000PLC127953	Dighi Port Limited	Director	30-09-10	13-07-10	-	Active	NO
23	U65990MH1988PLC048117	Aditya Birla Retail Limited	Additional director	23-09-11	23-09-11	-	Active	NO
24	U52520AP1990PTC011172	Trinethra Superretail Private Limited	Additional director	23-09-11	23-09-11	-	Active	NO
25	U67190MH2010PLC203819	Emkay Investment Managers Limited	Additional director	21-10-11	21-10-11	-	Active	NO

Name :	Mr. Suresh N. Talwar
Designation :	Director
Address :	10, Shiv Shanti Bhavan, 146 Maharishi Karve road, Churchgate Reclamation, Mumbai – 40 020, Maharashtra, India
Date of Birth/Age :	21.11.1938
Date of Appointment :	11.09.2001
DIN No.:	00001456

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	U23200MH1980PTC022646	Moly Colloids Private Limited	Director	16-05-80	16-05-80	12-07-07	Dormant	NO
2	U15430MH1948PLC006457	Cadbury India Limited	Director	02-03-81	02-03-81	31-03-11	Active	NO
3	U29196MH1981PTC024115	Emerson Process Management (India) Private Limited	Director	25-03-81	25-03-81	22-12-11	Active	NO
4	L29224TN1954PLC000318	Carborundum Universal Limited	Director	08-06-83	08-06-83	24-07-08	Active	NO
5	L99999MH1967PLC013726	Merck Limited	Director	17-01-84	17-01-84	-	Active	NO
6	U92110MH1944PTC004242	Twentieth Century Fox Corporation (India) Private Limited	Director	06-02-85	06-02-85	-	Strike off	NO
7	L28920MH1949PLC006870	Blue Star Limited	Director	17-06-86	17-06-86	-	Active	NO
8	L99999MH1982PLC026903	Shrenuj And Company Limited	Director	30-12-88	30-12-88	-	Active	NO
9	U32104KL1981PLC003348	Fci Oen Connectors Limited	Alternate director	01-08-11	20-02-89	-	Active	NO
10	U29299PN1960PTC011751	Sandvik Asia Private Limited	Director	29-03-89	29-03-89	-	Active	NO
11	U65920MH1995PTC092440	Romil Finance And Investment Private Limited	Director	23-03-96	23-03-96	-	Dissolved	NO
12	U65993MH1996PTC102162	Decagon Investments Private Limited	Director	14-10-96	14-10-96	-	Active	NO
13	U65923MH1996PTC104084	Sidham Finance and Investments Private Limited	Director	22-03-97	22-03-97	-	Active	NO
14	U67120MH1998FTC113138	Schenectady (India) Holdings Private Limited	Alternate director	31-07-98	31-07-98	23-01-09	Amalgamated	NO
15	L65920MH1994PLC080220	Transwarranty Finance Limited	Alternate director	27-12-99	27-12-99	-	Active	NO
16	L72200MH1997PLC110459	Blue Star Infotech Limited	Director	21-01-00	21-01-00	-	Active	NO
17	U65991MH2000PTC126846	India Value Fund Trustee Company Private Limited	Director	18-11-09	17-07-00	-	Active	NO
18	U74140KA2000PTC027640	Swiss Re Shared Services (India) Private Limited	Director	18-08-00	18-08-00	-	Active	NO
19	U22990MH1998PTC115305	Morgan Stanley India Company Private Limited	Director	21-06-01	21-06-01	27-10-08	Active	NO
20	U28920MH1999PTC119104	Armstrong World Industries (India) Private Limited	Director	11-07-01	11-07-01	-	Active	NO
21	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Director	11-09-01	11-09-01	-	Active	NO
22	L24200MH2000PLC123813	Solvay Pharma India Limited	Director	16-10-01	16-10-01	-	Amalgamated	NO
23	U74300MH1987PTC044227	Rediffusion Dentsu Young And Rubicam Private Limited	Director	06-12-01	06-12-01	-	Active	NO
24	U99999MH1963PLC012674	Si Group - India Limited.	Alternate director	22-01-08	01-01-02	22-01-09	Active	NO
25	U24240MH1995PTC086243	Pz Cussons India Private Limited	Alternate director	18-06-10	07-05-02	-	Active	NO
26	L72200MH1994PLC082110	Sonata Software Limited	Director	30-10-02	30-10-02	-	Active	NO
27	U67200MH2002PTC137954	Aon Global Insurance Brokers Private Limited.	Director	24-02-03	24-02-03	11-10-10	Active	NO
28	U66030TN2001PLC047977	Cholamandalam Ms General Insurance Company Limited	Director	14-04-03	14-04-03	20-03-08	Active	NO
29	L24234KA1978PLC003417	Biocon Limited	Director	17-05-03	17-05-03	-	Active	NO
30	U92110MH2003PTC142309	Showdiff Worldwide Private Limited	Director	21-01-04	21-01-04	22-02-10	Active	NO
31	L24222PN1956PLC134746	Elantas Beck India Limited	Director	01-06-09	05-07-04	-	Active	NO
32	L99999MH1946PLC004768	Larsen And Toubro Limited	Director	06-07-04	06-07-04	-	Active	NO
33	L85190MH1947PLC005963	Wyeth Limited	Director appointed in casual vacancy	20-03-09	15-09-04	26-10-09	Active	NO
34	L99999MH1922PLC000987	Greaves Cotton Limited	Director	01-10-04	01-10-04	-	Active	NO
35	L25209MH1976PLC018939	Garware Wall Ropes Limited	Alternate director	02-12-11	04-12-04	-	Active	NO
36	U74200MH1977PTC020041	Uhde India Private Limited	Alternate director	16-09-11	05-12-04	-	Active	NO
37	U92110MH2003PTC141168	Warner Bros Pictures (India) Private Limited	Director	20-01-05	20-01-05	-	Active	NO
38	L24110MH1965PLC013331	Rhodia Specialty Chemicals India Limited	Alternate director	14-02-05	14-02-05	-	Active	NO
39	U72200MH2005PTC153209	Epitome Global Services Private Limited	Director	11-05-05	11-05-05	-	Active	NO
40	U24222MH2005PTC215180	Snowcem Paints Private Limited	Director	12-09-05	12-09-05	-	Active	NO
41	U67110MH2005PTC157770	Mf Global (India) Private Limited	Director	01-02-06	01-02-06	-	Active	NO
42	U74899MH1994PTC166755	Birla Sun Life Trustee Company Private Limited	Director	22-02-06	22-02-06	-	Active	NO
43	U63031GA1965PTC000041	Chowgule And Company Private Limited.	Director	23-02-06	23-02-06	-	Active	NO
44	L65990MH1993PLC074306	Vaarad Ventures Limited	Alternate director	19-05-09	31-03-06	29-07-09	Active	NO
45	U29100MH1953PTC009189	John Fowler (India) Private Limited	Director	26-07-06	26-07-06	-	Active	NO
46	U74140KA2006PTC040274	Ivf Trustee Company Private Limited	Director	18-09-06	18-09-06	-	Active	NO
47	U33110MH1957PLC010928	Johnson And Johnson Limited	Alternate director	28-04-11	03-10-06	-	Active	NO
48	L29299TN1987PLC058738	Esab India Limited	Director	22-04-09	27-10-06	-	Active	NO
49	U34101KA1996PTC020195	Mahindra Reva Electric Vehicles Private Limited	Director	02-12-06	02-12-06	29-07-10	Active	NO
50	U74140MH1999PTC122493	Inga Capital Private Limited	Director	27-09-07	12-02-07	01-10-09	Active	NO
51	U70100TN2007PLC062429	Rakindo Kovai Township Limited	Additional director	01-04-07	01-04-07	19-02-08	Active	NO
52	U85199KA2002PTC030218	Ttk Healthcare Tpa Private Limited	Director	03-04-07	03-04-07	-	Active	NO
53	U85110KA2004PTC034819	Swiss Re Healthcare Services Private Limited	Director	03-04-07	03-04-07	-	Amalgamated	NO
54	U74999PN2007PTC137041	Wave Suspension Systems India Private Limited	Director	29-09-08	25-05-07	28-01-11	Active	NO
55	U24299HR1962PLC007739	Hindustan Gum And Chemicals Limited	Alternate director	21-11-08	13-06-07	03-10-11	Active	NO
56	U65993MH2005PTC155362	India Debt Management Private Limited	Director	17-06-08	24-03-08	17-06-09	Active	NO
57	U65990MH1996PTC100190	Morgan Stanley India Capital Private Limited	Director	31-08-09	10-12-08	-	Active	NO
58	U35112MH1994PLC081331	Samson Maritime Limited	Director	25-06-10	01-12-09	-	Active	NO
59	U45203PN2007PTC130582	Chowgule Ports and Infrastructure Private Limited	Director	08-07-11	26-07-10	-	Active	NO
60	U45300AP2010PLC070121	LandT Metro Rail (Hyderabad) Limited	Director	04-08-11	11-02-11	-	Active	NO
61	L17120MH1990PLC058361	S Kumars Nationwide Limited	Additional director	01-04-11	01-04-11	-	Active	NO

Name :	Mr. Ajay Srinivasan
Designation :	Director
Address :	91/101, Narlan Terrace, 7 and 8 Floor, Union Road, Psll, Gill, Bandra (W)
Date of Birth/Age :	02.11.1963
Date of Appointment :	01.08.2007
DIN No.:	00121181

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	U99999DL1993PLC054135	ICICI Prudential Asset Management Company Limited	Nominee director	03-03-98	03-03-98	18-07-07	Active	NO
2	U61190GJ1997PLC062406	Aditya Birla Money Mart Limited	Director	20-07-09	31-07-07	-	Active	NO
3	U65990GJ1991PLC064603	Aditya Birla Finance Limited	Director	01-08-08	31-07-07	-	Active	NO
4	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Director	01-07-10	01-08-07	-	Active	NO
5	U65991MH1994PLC080811	Birla Sun Life Asset Management Company Limited	Director	24-05-08	02-08-07	-	Active	NO
6	U73100MH1999PTC118379	Aditya Birla Management Corporation Private Limited	Director	30-08-07	30-08-07	-	Active	NO
7	U65999MH2008PLC183695	Aditya Birla Financial Shared Services Limited	Director	19-06-08	19-06-08	20-10-08	Active	NO
8	U74140MH2008PTC179360	Aditya Birla Capital Advisors Private Limited	Director	14-09-09	21-11-08	-	Active	NO
9	U91990MH2005NPL150661	Financial Planning Standards Board India	Director	11-09-09	11-09-09	01-04-11	Active	NO
10	U67190MH2008PTC179283	Aditya Birla Securities Private Limited	Director	24-09-10	31-07-10	-	Active	NO

Name :	Mr. Venkatesh S. Mysore
Designation :	Director
Address :	Raheja Bay, 1^st Floor, Mount Mary Road, Mumbai – 400 050, Maharashtra
Date of Birth/Age :	30.12.1958
Date of Appointment :	01.01.2008
DIN No.:	01401447

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	U74140HR2006FTC036049	Sun Life India Service Centre Private Limited	Director	17-08-07	12-04-07	08-10-10	Active	NO
2	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Director	24-05-08	26-09-07	-	Active	NO
3	U61190GJ1997PLC062406	Aditya Birla Money Mart Limited	Director	23-05-08	27-09-07	31-03-09	Active	NO
4	U65991MH1994PLC080811	Birla Sun Life Asset Management Company Limited	Director	23-07-10	04-10-07	27-04-11	Active	NO
5	U92412MH2008PTC179508	Knight Riders Sports Private Limited	Managing director	11-10-10	11-10-10	-	Active	NO
6	L26940GJ1973PLC002245	Gujarat Sidhee Cement Limited	Additional director	29-10-10	29-10-10	-	Active	NO
7	U92412GJ2010PTC063006	Mehta Sports Private Limited	Additional director	29-11-10	29-11-10	-	Active	NO
8	L45200MH1998PLC114818	Oberoi Realty Limited	Additional director	26-07-11	26-07-11	-	Active	NO
9	U74140DL2005PTC140943	Withya Hr Fund Private Limited	Additional director	28-12-11	28-12-11	-	Active	NO

Name :	Dr. Rakesh Jain
Designation :	Director
Address :	110/2, A wing, Quantum Park, Union Park Road, Khar West, Mumbai – 400052, Maharashtra, India
Date of Birth/Age :	19.01.1961
Date of Appointment :	10.11.2009
DIN No.:	00020425

Other Directorships

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	L17199GJ1956PLC001107	Aditya Birla Nuvo Limited	Managing director	01-07-09	01-10-05	-	Active	NO
2	U31300GJ2002PLC040905	Aditya Birla Insulators Limited	Director	29-09-06	29-09-06	-	Amalgamated	NO
3	U72200KA2000PLC031939	Aditya Birla Minacs Technologies Limited	Director	15-07-10	15-07-09	-	Amalgamated	NO
4	U72200KA1976PLC027564	Aditya Birla Minacs It Services Limited	Director	02-09-10	22-07-09	-	Amalgamated	NO
5	U99999KA1995PLC052040	Aditya Birla Minacs Worldwide Limited	Director	02-08-10	22-07-09	-	Active	NO
6	L32100GJ1996PLC030976	Idea Cellular Limited	Director	21-12-09	26-10-09	-	Active	NO
7	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Director	16-06-10	10-11-09	-	Active	NO
8	U74140MH2001PLC132863	Birla Management Centre Services Limited	Director	24-09-10	03-06-10	-	Active	NO
9	U73100MH1999PTC118379	Aditya Birla Management Corporation Private Limited	Additional director	22-06-10	22-06-10	-	Active	NO
10	U74200MH2006PLC158951	Aditya Birla Science And Technology Company Limited	Additional director	07-06-11	07-06-11	-	Active	NO

Name :	Mrs. Tarjani Vakil
Designation :	Director
Address :	A-1, Ishwardas Mansion Nana Chowk, Mumbai – 400007, Maharashtra, India
Date of Birth/Age :	30.10.1936
Date of Appointment :	10.11.2009
DIN No.:	00009603

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	L24220MH1945PLC004598	Asian Paints Limited	Director	01-12-98	01-12-98	-	Active	NO
2	U65991MH1996PTC100444	DSP Blackrock Trustee Company Private Limited	Director	23-02-99	23-02-99	-	Active	NO
3	U51900MH1978PLC020222	Mahindra Intertrade Limited	Director	28-04-00	28-04-00	-	Active	NO
4	L17199GJ1956PLC001107	Aditya Birla Nuvo Limited	Director	27-07-00	27-07-00	-	Active	NO
5	L99999MH1979PLC021796	Alkyl Amines Chemicals Limited	Director	11-08-05	11-08-05	-	Active	NO
6	L72200MH1989PLC053666	Oracle Financial Services Software Limited	Director	07-08-06	07-08-06	25-08-10	Active	NO
7	U51900MH1968NPL013966	Council For Fair Business Practices	Director	31-08-06	31-08-06	-	Active	NO
8	U74899DL1995PLC068988	Idea Mobile Communications Limited	Director	02-09-06	02-09-06	-	Amalgamated	NO
9	L32100GJ1996PLC030976	Idea Cellular Limited	Director	30-09-06	02-09-06	-	Active	NO
10	U74999MH2008PTC186670	Aditya Birla Trustee Company Private Limited	Director	14-09-09	26-11-08	-	Active	NO
11	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Director	16-06-10	10-11-09	-	Active	NO

Name :	Mr. Dikran Ohannessian
Designation :	Director
Address :	244, The Kingsway, Etobicoke on, Canada – M9A3T5
Date of Birth/Age :	11.12.1953
Date of Appointment :	23.01.2010
DIN No.:	02944155

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	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Director	16-06-10	23-01-10	-	Active	NO
2	U65991MH1994PLC080811	Birla Sun Life Asset Management Company Limited	Director	23-07-10	23-01-10	-	Active	NO

Name :	Mr. Jayant Dua
Designation :	Managing Director and Chief Executive Officer
Address :	Flat No.003, Aishwarya Flats, Near Ellora Park, Race Course Vadodara – 390007, Gujarat, India,
Date of Birth/Age :	30.01.1965
Date of Appointment :	01.07.2010
DIN No.:	00629213

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	U31300GJ2002PLC040905	Aditya Birla Insulators Limited	Managing director	03-01-06	03-01-06	-	Amalgamated	NO
2	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Managing director	16-06-11	01-07-10	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Mayank Bathwal
Designation :	CFO and Head of Institutional Sales
Name :	Mr. Amitabh Verma
Designation :	Chief Operating Officer
Name :	Mr. Sashi Krishnan
Designation :	Chief Investment Officer
Name :	Mr. Niall O'Hare
Designation :	Chief Actuarial Officer
Name :	Mr. Arun Malkani
Designation :	Head – Information Technology
Name :	Mr. Saurov Ghosh
Designation :	Head – Human Resources and Training
Name :	Mr. Lalit Vermani
Designation :	Head – Compliance, Risk, Legal and Audit
Name :	Mr. Vikas Seth
Designation :	Head of Sales – DSF
Name :	Mr. Ashish Lakhtakia
Designation :	Secretary
Address :	Flat No.103-104, B Wing Riviera Tower, Lokhandwala, Township, Kandivali (East), Mumbai – 4000101, Maharashtra, India
Date of Birth/Age :	25.04.1973
Date of Appointment :	27.04.2011
PAN No.:	ACDPL9207F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 16.06.2011

Names of Shareholders	No. of Shares
Aditya Birla Nuvo Limited, India	1457429995
Sun Life Financial (India), Insurance Investments Incorporation, Canada	512070000
Anil Rastogi Jointly with Aditya Birla Nuvo Limited, India	1
BN Puranmalka Jointly with Aditya Birla Nuvo, Limited, India	1
Sushil Agarwal Jointly with Aditya Birla Nuvo Limited, India	1
Manoj Kedia Jointly with Aditya Birla Nuvo Limited, India	1
Devendra Bhandari Jointly with Aditya Birla Nuvo Limited, India	1
Total	1969500000

AS ON 16.06.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	26.00
Bodies corporate	74.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Life Insurance Solutions, Policies etc.

GENERAL INFORMATION

No. of Employees :	Information declined by the management
Bankers :	Not Available
Banking Relations :	--
Auditors :
Name 1 :	S. R. Batliboi and Associates Chartered Accountants
Address :	Suite 52, Bombay Mutual Bldg, Sir Phirozshah Mehta Road, Fort, Mumbai – 400 001, Maharashtra
PAN No.:	AAAFK1142N
Name 2 :	Fraser and Ross Chartered Accountant
Address :	Deloitte Centre, Anchorage II, 100/2, Richmond Road, Bangalore-560025, Karnataka, India
Pan No.:	AAAFF0644S
Holding company :	Aditya Birla Nuvo Limited CIN: L17199GJ1956PLC001107

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3750000000	Equity Shares	Rs.10/- each	Rs.37500.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1969500000	Equity Shares	Rs.10/- each	Rs.19695.000 millions

Note:

Of the above 1457430000 equity Shares (Previous year: 1390830000 Equity Shares) of Rs.10/- each are held by Aditya Birla Nuvo Limited, the holding company.

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		19695.000	19695.000	18795.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		4800.000	4800.000	1200.000
4] (Accumulated Losses)		(17225.082)	(20275.040)	(15920.075)
5] credit/(Debit) / Fair Value Change account		0.001	0.305	0.204
NETWORTH		7269.919	4220.265	4075.129
POLICYHOLDERS FUNDS
Credit/(Debit) Fair Value Change Account		0.069	0.653	0.099
Policy Liabilities		10608.571	7860.785	3999.354
Insurance Reserves		0.000	0.000	0.000
TOTAL BORROWING		10608.640	7861.438	3999.453
Provision for linked liabilities		170233.983	136542.641	86979.274
Funds for Discontinued Policies
i) Discontinued on account of non-payment of premium		6.401	0.000	0.000
Credit/(Debit) Fair Value Change Account		4351.817	9130.333	(5009.905)
TOTAL LINKED LIABILITIES		174592.201	145672.974	81969.369
Funds For Future Appropriation
Linked Liabilities		4569.742	2984.243	1289.584
TOTAL		197040.502	160738.920	91333.535
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		399.823	698.167	844.269
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		6972.707	5043.972	4670.115
DEFERREX TAX ASSETS		0.000	0.000	0.000
Shareholders		16033.543	10581.669	5044.186
Assets held to cover linked liabilities		174592.201	145672.974	81969.369
Loans		263.070	265.468	223.516
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	5885.242	5697.972	5189.719
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1371.709	1215.350	1044.299
Total Current Assets		7256.951	6913.322	6234.018
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3320.427	3279.234	2818.804
	Current Liabilities	4687.859	4834.277	4580.776
	Provisions	469.507	323.141	252.358
Total Current Liabilities		8477.793	8436.652	7651.938
Net Current Assets		(1220.842)	(1523.330)	(1417.920)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		197040.502	160738.920	91333.535

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
Premium Earned – Net
a) Premium	56770.665	55056.579	45718.041
b) Reinsurance Ceded	(825.041)	(802.949)	(551.663)
c) Reinsurance accepted	--	--	--
Sub-total	55945.624	54253.630	45166.378
Income from investments
a) interest, Dividend and Rent – Gross	7715.638	5215.712	3884.537
b) Profit on sale / Redemption of investments	15996.532	24129.090	3279.011
c) (Loss) on sale / Redemption of investments	(3894.870)	(3410.918)	(11161.291)
d) transfer/Gain (Loss) on revaluation / change in fair value	(4778.515)	14140.238	(2708.296)
e) Gain / (Loss) on Amortisation	(119.398)	(42.599)	(0.607)
Sub-Total	14919.387	40031.523	(6706.646)
Other Income
a) contribution from the shareholders account	619.836	4797.493	7639.899
b) others (interest etc.)	236.803	143.486	170.850
Sub-Total	856.639	4940.979	7810.749
Total (A)	71721.650	99226.132	46270.481
Commission	3805.795	5161.974	4817.880
Operating expenses related to insurance business	12034.778	13267.526	12487.623
Provision for Doubtful debts	--	--	--
Bad debts written off	---	--	--
Provision for tax	(5.875)	--	61.500
Provision (other than taxation)	--	--	--
a) for diminution in value of investments (net)	--	--	--
b) others	--	--	--
Total (B)	15834.698	18429.500	17367.003
Benefits paid (Net)	19343.749	11387.815	6464.413
Interim Bonus Paid	--	--	--
Change in valuation of liabilities in respect of life policies
a) Gross	2779.908	4621.359	21245.680
b) Fund Reserve	28912.827	63703.604
c) Premium Discontinued Fund - Linked	6.401	--
d) (Amount ceded in Re-insurance)	(32.122)	(759.928)	(123.547)
c) Amount accepted in Re-insurance	--	--	--
Total (C)	51010.763	78952.850	27586.546
Surplus / (Deficit) (D)= (A)-(B)-(C)	4876.189	1843.782	1316.932
Appropriations
Transfer to shareholders account	3290.689	149.123	286.159
Transfer to other reserves	--	--	--
Balance being funds for future appropriation	1585.500	1694.659	1030.773
Total (D)	4876.189	1843.782	1316.932
The total surplus mentioned below
a) interim Bonuses paid	--	--	--
b) allocation of bonus to policyholders	--	--	--
c) surplus/(Deficit) shown in the revenue account	4876.189	1694.659	1030.773
Total Surplus [(a)+(b)+(c)]	4876.189	1649.659	1030.773

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
Debt Equity Ratio (Total Liability/Networth)	2.63	3.86	2.86
Current Ratio (Current Asset/Current Liability)	0.86	0.82	0.81

LOCAL AGENCY FURTHER INFORMATION

sundry creditors details:-

Particulars	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Sundry Creditors *	3320.427	3279.234	2818.804

Note:

• There are no Micro, small and Medium Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at 31^st March 2010. This information as required to be disclosed under the Micro, small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

NOTE:

The registered office of the company has been sifted from Vaman Centre, 6^th Floor, Makhawana Road, Off. Andheri Kurla Road, Marol, Andheri (East), Mumbai – 400059, Maharashtra, India to the present address w.e.f. 01.09.2009

Background

Subject, headquartered at Mumbai, had commenced operations on 19th March 2001, after receiving the license to transact life insurance business in India from the Insurance Regulatory and Development Authority (‘IRDA’) on 31st January 2001. The license has been renewed annually and is in force as at 31st March 2011.

Subject is a joint venture between Aditya Birla Nuvo Limited, a Company of the Aditya Birla Group of India (74 percent) and Sun Life Financial (India) Insurance Investments Inc., subsidiary of Sun Life Assurance Company of Canada (26 percent). The Company offers non – participating linked and non-linked life insurance, health and pension products including riders for individual and group businesses. These products are distributed through individual agents, corporate agents, banks, brokers and other intermediaries across the country.

FINANCIAL PERFORMANCE

The Life Insurance Industry witnessed strong performance from its inception till 2009-10. The Regulator (IRDA) introduced a number of regulatory changes in FY 2010-11 to create a more robust platform for future growth. This led to the existing players in the industry reviewing their business strategies. We responded proactively to the changing regulations by reviewing our product strategy, distribution set up and operating model. This included moving towards a more balanced product mix and taking several steps to further strengthen our multi-channel distribution architecture.

The summary of financial performance for BSLI is as under:

The Company achieved total premium revenue of Rs. 55946.000 Millions, mainly driven by strong renewal premium growth of 41%. As they transitioned into the new commission regime, our new business fell as did that of the private sector as a whole.

they are pleased to announce the maiden annual profit for the Company, having declared profits for all four quarters in a row. The Company recorded a net profit of Rs. 3049.000 Millions in FY11 against a loss of Rs. 4355.000 Millions in last year. Going forward, the Company is confident of funding its business growth through internal accruals. The Company recorded good performance across a range of key financial parameters as detailed below:

· While the total premium revenue amounted to Rs. 55946.000 Millions registering a growth of 3%, the renewal premium of Rs. 35968.000 Millions registered a robust growth of 41% over the previous year. As an insurer with a long-established track record, a significant portion of our business (95%) is on regular premium basis, which has provided us with a regular stream of renewal premiums. New business premium amounting to Rs. 20803.000 Millions was lower than previous year by 30% for the reasons mentioned before.

· The Renewal premium growth reflects the healthy state of our business in terms of quality of sales, servicing and underwriting capabilities. The Company stands in the top quartile amongst competitors on several persistency measures as disclosed by IRDA.

· The total commission as % of total premium has declined from 9.4% in the previous year to 6.7% during the year .

· The Company maintained excellence in investment performance for its policyholders. For all its unit linked funds, the Company delivered superior fund performance across the board, consistently beating benchmarks.

· The Company took several steps to rationalize expenses across its operations to increase value to the customer without compromising on profit margins in the medium to long term. they believe that the Company's profitable journey starting with the maiden profit of Rs. 3049.000 Millions during the year, is sustainable given the business environment. These profits are primarily driven by in-force business, declining expense ratios and changes in product structures to reduce new business strain.

· Given the robust financial performance, there has been no capital infusion for the current year. The solvency position for the Company has improved from 2.10 in FY10 to 2.88 in FY11.

they believe that the Company is well-positioned to grow profitably and gain market share, leveraging its strong brand, innovative products, talented team and distribution reach.

BUSINESS REVIEW

Industry Scenario

The Indian life insurance industry has witnessed a decade of high growth since it was opened to private players in 2000. Today the industry comprises of 23 players with more than 2.7 million agents spread across 11,000 branches. The multi distribution set up is well entrenched with Agency and Banca channels contributing more than 80% of new sales. After a decade of strong performance, which catapulted the Indian life insurance industry to amongst the top 5 countries in Asia, there is still scope for improving the insurance penetration levels.

· The Indian life insurance market has been a predominantly Unit Linked Insurance Plan ("ULIP") market. The same was driven by advantages offered in these products, need of the customer and growth of equity markets during the last decade or so. During FY11, several regulations impacting the products as well as distribution were made effective.

· Product related regulations: New regulations governing design of ULIPs, made effective in Sep'10, brought about a paradigm change across the sector. These new guidelines capped the overall charges, increased the minimum sum assured component, capped the surrender charges and imposed minimum prescribed returns to customers. The new regulations also required unit-linked pension to be offered with minimum guaranteed return of 4.5% p.a.

· Distribution related regulations: IRDA, with a view to improve the quality of distribution, issued guidelines : 1) to tighten the process around licensing of corporate agents and 2) to improve quality of individual life agents by prescribing minimum persistency requirements during the year.

In the long run, these regulations, which keep customer interests as the focal point, should positively impact the business:

· Under the new guidelines, ULIPs are simplified and less expensive, thereby making it a more compelling proposition for consumers in the long-term vis-a-vis other comparable retail financial products.

· The new guidelines will require players to improve customer stickiness and optimize cost structures.

· Withdrawal of old ULIP products and transitioning to new ULIP products under a new commission regime necessitated by the new regulations.

· Several players moving to a balanced mix of ULIP and Non-ULIP products in the proportion of approximately 70:30 respectively in Q3 (for top 7 players).

· Movement to single premium from Sep'10 onwards by several private players (37% in H2 against 14% in H1 of total individual new business premium).

At the end of the year , the Company's market share stood at 7.0% among private players and 2.9% for the total market.

Summary of Operations and Business

· The total premium amounted to Rs. 55946.000 Millions, driven by strong renewal premiums leading to growth of 41% in renewal premiums over the previous year.

· Our new business sales were impacted due to withdrawal of their old ULIPs and time required for acceptability of new products. For the full year, new business amounted to Rs. 20803.000 Millions resulting in a de-growth of 30% in new business for the Company. they are fairly

CONTINGENT LIABILITY:

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010
Partly paid-up investments	450.000	0.000
Claims, other than against policies, not acknowledged as debts by the Company	4.707	4.150
Underwriting commitments outstanding	0.000	0.000
Guarantees given by or on behalf of the Company	0.000	0.000
Statutory demands / liabilities in dispute, not provided for	Refer Note Below	Refer Note Below
Reinsurance obligations to the extent not provided for in the accounts.	0.000	0.000
Others *	118.935	70.107

* Represents potential liability to the Company (net of reinsurance) in respect of cases filed against the Company’s decision of repudiation of death claims and customer complaints.

Note:

The Company has received several Show Cause-Cum-Demand notices in earlier period relating to Service Tax demands related to excess utilization of CENVAT credit against liability on risk premium, applicability on fund management charges, payment of reimbursements to agents and foreign payments aggregating to Rs.443.025 Millions (Previous year Rs. 443.025 Millions) plus applicable interest and penalty, which is contested.

fixed assets:-

· Goodwill

· intangibles (Software’s)

· Land – Freehold Property

· Buildings

· Furniture And Fittings

· Information Technology

· Equipment

· Vehicles

· Office Equipment

· Others (Leasehold Improvements)

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.50.02
UK Pound	1	Rs.78.05
Euro	1	Rs.65.13

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
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	No
--AFFILIATION	YES/NO	Yes
--LISTED	YES/NO	No
--OTHER MERIT FACTORS	YES/NO	Yes
TOTAL		44

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.