MIRA INFORM REPORT

Report Date :

17.07.2012

IDENTIFICATION DETAILS

Name :	HONEYWELL AUTOMATION INDIA LIMITED

Registered Office :	Sheikh Zayed Road, Jebel Ali Free Zone, P O Box 17713 & 262263, Dubai

Country :	United Arab Emirates

Date of Incorporation :	26.08.2007

Legal Form :	Branch of a Foreign Registered Corporation

Line of Business :	Provision of automation and control solutions

No. of Employees :	30

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Branch of a Foreign Registered Corporation
Payment Behaviour :	No Complaints
Litigation :	Clear

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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

United Arab Emirates

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

SUMMARY

Company Name : HONEYWELL AUTOMATION INDIA LIMITED

Country of Origin : India

Legal Form : Branch of a Foreign Registered Corporation

Registration Date : 26^th August 2007

Trade Licence Number : 7839

Chamber Membership Number : 123114

Total Workforce : 30

Activities : Provision of automation and control solutions,

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

COMPANY NAME

HONEYWELL AUTOMATION INDIA LIMITED

company ADDRESS

Registered & Physical Address

Street : Sheikh Zayed Road

Area : Jebel Ali Free Zone

PO Box : 17713 & 262263

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 8068600

Facsimile : (971-4) 8863797

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Jebel Ali Free Zone.

KEY PRINCIPALS

Name Position

· Jayant Dhirnindar Managing Director

· Manik Goel Marketing Manager

LEGAL FORM & OWNERS

Date of Establishment : 26^th August 2007

Legal Form : Subject is the United Arab Emirates registered branch of Honeywell Automation India

Limited, a Limited Liability Company incorporated in India

A Branch of a Foreign Registered Corporation is not a legal entity in its own right.

Responsibility for payments lays in the hands of the company where it is originally

registered.

Under these circumstances, we strongly advise that any international trade credit should

only be written under the name of the main company where the subject holds its registered office, in this case India.

Trade Licence No. : 7839 (Expires 14/04/2013)

Chamber Member No. : 123114

OPERATIONS

Activities: Engaged in the provision of automation and control solutions.

Import Countries: India

Subject has a workforce of 30 employees.

FINANCIAL DATA

Companies registered in Dubai, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· Habib Bank Ltd

Trade Service Centre

Murshid Bazaar

PO Box: 888

Dubai

Tel: (971-4) 2221281

Fax: (971-4) 2284631

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.92
UK Pound	1	Rs.85.47
Euro	1	Rs.67.15

INFORMATION DETAILS

Report Prepared by :

PRL

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	----

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%)

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.