MIRA INFORM REPORT

Report Date :

18.06.2012

IDENTIFICATION DETAILS

Name :	PLAZA AGENCIES PRIVATE LIMITED

Registered Office :	No. 41, Vittal Mallya Road, Bangalore – 560011, Karnataka

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	09.02.2000

Com. Reg. No.:	08-026365

Capital Investment / Paid-up Capital :	Rs. 0.900 Million

CIN No.: [Company Identification No.]	U51399KA2000PTC026365

TAN No.: [Tax Deduction & Collection Account No.]	BLRP01852E

PAN No.: [Permanent Account No.]	AACCP0589Q

Legal Form :	Private Limited Liability Company

Line of Business :	Dealers and Distributors of all Consumers items and accessories.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

Maximum Credit Limit :	USD 1700000

Status :	Satisfactory

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is an established company satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be regular. 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.

ECGC Country Risk Classification List – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

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

LOCATIONS

Registered Office :	No. 41, Vittal Mallya Road, Bangalore – 560011, Karnataka, India
Tel. No.:	91-80-41300000
Fax No.:	91-81-41325000
E-Mail :	prakash.hegde@mantri.in

DIRECTORS

AS ON 21.07.2011

Name :

Mr. Sushil Pandurang Mantri

Designation :

Director

Address :

Mantri House, # 41, Vittal Mallya Road, Bangalore – 560001, Karnataka, India

Date of Birth/Age :

07.02.1963

Date of Appointment :

06.07.2000

DIN No.:

00188967

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U70102KA1993PTC015069	SHIVASHAKTHI ESTATES AND INVESTMENTS PRIVATE LIMITED	Director	23-10-95	23-10-95	-	Active	NO
2	U45201KA2000PTC026181	HAMARA SHELTERS PRIVATE LIMITED	Director	06-07-00	06-07-00	03-12-07	Active	NO
3	U51399KA2000PTC026365	PLAZA AGENCIES PRIVATE LIMITED	Director	06-07-00	06-07-00	-	Active	NO
4	U74140KA2001PTC028742	PROPCARE REAL ESTATE MANAGEMENT PRIVATE LIMITED	Director	15-03-01	15-03-01	03-12-07	Active	NO
5	U04520KA1988PTC009606	CLASSIC REALTY PRIVATE LIMITED	Director	18-09-01	18-09-01	20-08-08	Active	NO
6	U51311KA2002PTC030545	RAFFLES ENTERPRISES PRIVATE LIMITED	Director	24-05-02	24-05-02	15-04-10	Active	NO
7	U74140KA2002PTC030161	INDUS SCHOLASTIC AND MANAGEMENT SERVICES PRIVATE LIMITED	Director	17-01-03	17-01-03	-	Active	NO
8	U74210KA2004PTC033991	MANTRI HOMES PRIVATE LIMITED	Director	28-05-04	28-05-04	03-12-07	Active	NO
9	U74210KA2004PTC033992	JASMINE ENTERPRISES PRIVATE LIMITED	Director	28-05-04	28-05-04	05-12-07	Active	NO
10	U45201KA2003PLC033023	MANIPAL ETA INFOTECH LIMITED	Managing director	05-12-07	29-09-04	-	Active	NO
11	U64202KA2004PTC035071	PROJENCO SOFTWARE SYSTEMS PRIVATE LIMITED	Director	23-11-04	23-11-04	22-12-08	Active	NO
12	U80302KA2005PTC037233	INDUS INTERNATIONAL SCHOOL (PUNE) PRIVATE LIMITED	Director	12-09-08	15-09-05	-	Active	NO
13	U07010KA2004PTC035167	PRATIBHA REALTORS PRIVATE LIMITED	Director	29-09-05	29-09-05	04-12-07	Active	NO
14	U72200AP2004PTC044097	LANCO HILLS TECHNOLOGY PARK PRIVATE LIMITED	Director	20-12-05	20-12-05	19-05-08	Active	NO
15	U70102KA2000PTC027924	MANTRI DEVELOPERS PRIVATE LIMITED	Managing director	27-02-06	27-02-06	-	Active	NO
16	U45201KA2005PTC037698	MANTRI CORNERSTONE HOLDING PRIVATE LIMITED	Director	30-04-06	30-04-06	-	Active	NO
17	U45201KA2006PTC039175	BRAHMAGIRI REALTORS PRIVATE LIMITED	Director	20-10-06	20-10-06	15-04-10	Active	NO
18	U07010KA2004PTC035169	VISMAY REALTORS PRIVATE LIMITED	Director	25-01-07	25-01-07	01-06-07	Active	NO
19	U80222KA2007PTC043242	NORTH EDUCATIONAL ACADEMY (INDIA) PRIVATE LIMITED	Director	26-06-07	26-06-07	15-04-10	Active	NO
20	U45201KA2007PTC043435	MANTRI SIERRA STRUCTURE PRIVATE LIMITED	Director	23-07-07	23-07-07	20-09-07	Active	NO
21	U45202KA2007PTC043433	MANTRI GEO STRUCTURES PRIVATE LIMITED	Director	23-07-07	23-07-07	20-09-07	Active	NO
22	U45201KA2007PTC043436	MANTRI TECHNOLOGY CONSTELLATIONS PRIVATE LIMITED	Director	10-06-11	23-07-07	-	Active	NO
23	U45201KA2007PTC043434	MANTRI TECHNOLOGY PARKS PRIVATE LIMITED	Director	15-04-08	23-07-07	-	Active	NO
24	U45201KA2007PTC043458	MANTRI INFRASTRUCTURE PRIVATE LIMITED	Director	24-07-07	24-07-07	20-09-07	Active	NO
25	U74140KA2007PTC044006	MANTRI DWELLINGS PRIVATE LIMITED	Director	08-05-08	10-10-07	14-04-09	Active	NO
26	U55101KA2008PTC047021	SURAJ INN PRIVATE LIMITED	Director	02-07-08	02-07-08	-	Active	NO
27	U70109KA2009PTC051228	PROPCARE MALL MANAGEMENT (INDIA) PRIVATE LIMITED	Director	16-10-09	16-10-09	19-07-10	Active	NO
28	U70102KA2009PTC051227	AVANT-GARDE SHELTERS PRIVATE LIMITED	Director	16-10-09	16-10-09	15-04-10	Active	NO
29	U70102KA2010PTC054176	3D MEGACITY PRIVATE LIMITED	Director	23-06-10	23-06-10	-	Active	NO
30	U70102KA2010PTC055639	MANTRI MANSION PRIVATE LIMITED	Director	26-10-10	26-10-10	-	Active	NO
31	U70102KA2010PTC055722	MANTRI HABITATS PRIVATE LIMITED	Director	02-11-10	02-11-10	-	Active	NO
32	U70102KA2010PTC055789	MANTRI ABODES PRIVATE LIMITED	Director	09-11-10	09-11-10	-	Active	NO
33	U70100KA2010PTC056156	MANTRI PROPERTY DEVELOPERS PRIVATE LIMITED	Director	07-12-10	07-12-10	-	Active	NO
34	U01119AP2006PTC051831	HYDERABAD EDUCATIONAL INSTITUTIONS PRIVATE LIMITED	Additional director	30-03-12	27-12-10	-	Active	NO
35	U70102KA2010PTC056387	MANTRI RESI STRUCTURES PRIVATE LIMITED	Director	29-12-10	29-12-10	-	Active	NO
36	U70100KA2011PTC056480	LAKEVIEW DEVELOPMENT CORPORATION PRIVATE LIMITED	Director	04-01-11	04-01-11	-	Active	NO
37	U45203KA2011PTC060228	DEVADATTA BUILD TECH PRIVATE LIMITED	Director	02-09-11	02-09-11	-	Active	NO
38	U70100KA2011PTC060335	PANCHAJANYA REALTORS PRIVATE LIMITED	Director	09-09-11	09-09-11	-	Active	NO
39	AAA-5108	KIRTHANA DEVELOPERS LLP	-	08-06-11	08-06-11	-	Active	NO

Name :

Mr. Snehal Sushil Mantri

Designation :

Director

Address :

Mantri House, # 41, Vittal Mallya Road, Bangalore – 560001, Karnataka, India

Date of Birth/Age :

12.11.1963

Date of Appointment :

06.07.2000

DIN No.:

00166900

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51399KA2000PTC026365	PLAZA AGENCIES PRIVATE LIMITED	Director	06-07-00	06-07-00	-	Active	NO
2	U45201KA2000PTC026181	HAMARA SHELTERS PRIVATE LIMITED	Director	06-07-00	06-07-00	03-12-07	Active	NO
3	U70102KA1993PTC015069	SHIVASHAKTHI ESTATES AND INVESTMENTS PRIVATE LIMITED	Director	21-08-00	21-08-00	05-12-07	Active	NO
4	U70102KA2000PTC027924	MANTRI DEVELOPERS PRIVATE LIMITED	Whole-time director	01-01-01	01-01-01	-	Active	NO
5	U74140KA2001PTC028742	PROPCARE REAL ESTATE MANAGEMENT PRIVATE LIMITED	Director	15-03-01	15-03-01	03-12-07	Active	NO
6	U51311KA2002PTC030545	RAFFLES ENTERPRISES PRIVATE LIMITED	Director	24-05-02	24-05-02	04-12-07	Active	NO
7	U74210KA2004PTC033991	MANTRI HOMES PRIVATE LIMITED	Director	28-05-04	28-05-04	03-12-07	Active	NO
8	U74210KA2004PTC033992	JASMINE ENTERPRISES PRIVATE LIMITED	Director	28-05-04	28-05-04	05-12-07	Active	NO
9	U45201KA2003PLC033023	MANIPAL ETA INFOTECH LIMITED	Director	05-12-07	29-09-04	-	Active	NO
10	U80302KA2005PTC037233	INDUS INTERNATIONAL SCHOOL (PUNE) PRIVATE LIMITED	Director	25-09-06	15-09-05	-	Active	NO
11	U07010KA2004PTC035167	PRATIBHA REALTORS PRIVATE LIMITED	Director	29-09-05	29-09-05	04-12-07	Active	NO
12	U45201KA2006PTC039175	BRAHMAGIRI REALTORS PRIVATE LIMITED	Director	20-10-06	20-10-06	04-12-07	Active	NO
13	U80222KA2007PTC043242	NORTH EDUCATIONAL ACADEMY (INDIA) PRIVATE LIMITED	Director	26-06-07	26-06-07	15-04-10	Active	NO
14	U45201KA2007PTC043436	MANTRI TECHNOLOGY CONSTELLATIONS PRIVATE LIMITED	Director	23-07-07	23-07-07	20-09-07	Active	NO
15	U45201KA2007PTC043435	MANTRI SIERRA STRUCTURE PRIVATE LIMITED	Director	23-07-07	23-07-07	20-09-07	Active	NO
16	U45201KA2007PTC043434	MANTRI TECHNOLOGY PARKS PRIVATE LIMITED	Director	23-07-07	23-07-07	20-09-07	Active	NO
17	U45202KA2007PTC043433	MANTRI GEO STRUCTURES PRIVATE LIMITED	Director	23-07-07	23-07-07	20-09-07	Active	NO
18	U45201KA2007PTC043458	MANTRI INFRASTRUCTURE PRIVATE LIMITED	Director	24-07-07	24-07-07	20-09-07	Active	NO
19	U55101KA2008PTC047021	SURAJ INN PRIVATE LIMITED	Director	02-07-08	02-07-08	14-04-09	Active	NO
20	U70102KA2010PTC054176	3D MEGACITY PRIVATE LIMITED	Director	23-06-10	23-06-10	-	Active	NO
21	U70102KA2010PTC055639	MANTRI MANSION PRIVATE LIMITED	Director	26-10-10	26-10-10	-	Active	NO
22	U70102KA2010PTC055722	MANTRI HABITATS PRIVATE LIMITED	Director	02-11-10	02-11-10	-	Active	NO
23	U70102KA2010PTC055789	MANTRI ABODES PRIVATE LIMITED	Director	09-11-10	09-11-10	-	Active	NO
24	U70100KA2010PTC056156	MANTRI PROPERTY DEVELOPERS PRIVATE LIMITED	Director	07-12-10	07-12-10	-	Active	NO
25	U70102KA2010PTC056387	MANTRI RESI STRUCTURES PRIVATE LIMITED	Director	29-12-10	29-12-10	-	Active	NO
26	U45203KA2011PTC060228	DEVADATTA BUILD TECH PRIVATE LIMITED	Director	02-09-11	02-09-11	-	Active	NO
27	U70100KA2011PTC060335	PANCHAJANYA REALTORS PRIVATE LIMITED	Director	09-09-11	09-09-11	-	Active	NO
28	U01119AP2006PTC051831	HYDERABAD EDUCATIONAL INSTITUTIONS PRIVATE LIMITED	Additional director	30-03-12	30-03-12	-	Active	NO
29	AAA-9225	SPACETHETICS INDIA LLP	-	15-05-12	15-05-12	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 21.07.2011

Names of Shareholders	Address	No. of Shares
Sushil Pandurang Mantri	Mantri House, # 41, Vittal Mallya Road, Bangalore – 560001, Karnataka, India	10000
Sushil Pandurang Mantri Snehal Mantri	Mantri House, # 41, Vittal Mallya Road, Bangalore – 560001, Karnataka, India	80000
Total		90000

AS ON 21.07.2011

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00
Total		100.00

BUSINESS DETAILS

Line of Business :

Dealers and Distributors of all Consumers items and accessories.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loans from Members*	80.074	169.074
Total	80.074	169.074
* These loans are repayable on demand.


Banking Relations :	--

Auditors :
Name :	Guru and Jana Chartered Accountants
Address :	10/1, 2^nd Floor, 3^rd Main, Hanumanthanagar, Bangalore – 560019, Karnataka, India
Income-tax PAN of auditor or auditor's firm :	AABFA5265A

Subsidiaries :	Mantri Developers Private Limited CIN No.: U70102KA2000PTC027924

Enterprises owned or significantly influenced by Key Management Personnel/Directors or their Relatives	· Movva Outdoor Media · Keystone Enterprises Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

100000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

90000	Equity Shares	Rs. 10/- each	Rs. 0.900 Million

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		0.900	0.900	0.900
2] Share Application Money		212.500	312.500	312.500
3] Reserves & Surplus		231.982	188.828	148.298
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		445.382	502.228	461.698
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		80.074	169.074	207.179
TOTAL BORROWING		80.074	169.074	207.179
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		525.456	671.302	668.877

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		15.157	19.488	23.818
Capital work-in-progress		0.181	0.000	0.000

INVESTMENT		617.562	645.056	648.328
DEFERRED TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	7.720	14.646	7.229
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	10.433	17.584	9.588
Total Current Assets		18.153	32.230	16.817
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	120.992	18.704	20.086
	Provisions	4.605	6.768	0.000
Total Current Liabilities		125.597	25.472	20.086
Net Current Assets		(107.444)	6.758	(3.269)

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		525.456	671.302	668.877

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		15.146	12.566
		Other Income		42.392	29.311
		TOTAL	77.985	57.538	41.877

Less	EXPENSES
		Administrative Expenses		17.246	23.299
		Preliminary Expenses		0.000	0.001
		TOTAL	31.182	17.246	23.300

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		(Including Depreciation)	40.292	18.577

Less/ Add	DEPRECIATION/ AMORTISATION			4.331	4.331

	PROFIT BEFORE TAX		46.803	35.961	14.246

Less	TAX		3.649	0.000	0.000

	PROFIT AFTER TAX		43.154	35.961	14.246

	PRIOR PERIOD ADJUSTMENT		N.A.	(0.316)	0.000

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		N.A.	148.297	134.051

	BALANCE CARRIED TO THE B/S		N.A.	183.942	148.297

	Earnings Per Share (Rs.)
	Basic		479.49	399.56	158.29
	Diluted		2.02	1.15	0.45

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	55.34	62.50	34.02

Net Profit Margin (PBT/Sales)	(%)	N.A.	237.43	113.37

Return on Total Assets (PBT/Total Assets}	(%)	140.51	69.53	35.06

Return on Investment (ROI) (PBT/Networth)		0.11	0.07	0.03

Debt Equity Ratio (Total Liability/Networth)		0.46	0.39	0.49

Current Ratio (Current Asset/Current Liability)		0.14	1.27	0.84

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1. Year of Establishment	Yes
2. Locality of the firm	Yes
3. Constitution 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	No
21. Market information	--
22. Litigations that the firm / promoter involved	--
23. Banking Details	Yes
24. Banking facility details	Yes
25. Conduct of the banking account	--
26. Buyer visit details	--
27. Financials, if provided	Yes
28. Incorporation details, if applicable	Yes
29. Last accounts filed at ROC	Yes
30. Major Shareholders, if available	Yes

FINANCIAL RESULTS

During the year, the Company's total revenues amounted to Rs.78.000 millions, as against Rs.57.500 millions during the corresponding previous year. The Company's current year's profit stood at Rs.43.100 millions as against Rs.35.900 millions for the year ending .31 March 2010.

FIXED ASSETS:

· Building

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. 55.76
UK Pound	1	Rs. 86.69
Euro	1	Rs. 70.44

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--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		49

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.

MIRA INFORM REPORT

0.000

0.000

7.720

0.000

18.153

0.000

120.992

4.605

125.597

(107.444)

55.34

N.A.

140.51

0.11

0.46

0.14

Unit