MIRA INFORM REPORT

Report Date :

03.03.2012

IDENTIFICATION DETAILS

Name :	ALLIANCE MINERALS PRIVATE LIMITED
Registered Office :	282, Linghi Chetty Street, Chennai-600 001, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	15.07.1998
Com. Reg. No.:	18-040815
Capital Investment / Paid-up Capital :	Rs. 161.727 Millions
CIN No.: [Company Identification No.]	U13209TN1998PTC040815
TAN No.: [Tax Deduction & Collection Account No.]	CHEA02962B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Granite Slabs
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 1300000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some cautions. Profit and Loss account current year of the company is not available

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	A1	A1

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

LOCATIONS

Registered Office :	282, Linghi Chetty Street, Chennai-600 001, Tamilnadu, India
Tel. No.:	91-44-25340061
Fax No.:	91-44-25340435
E-Mail :	sales@allianceminerals.com amplco@gmail.com
Overseas Office:	Located At · Singapore

DIRECTORS

AS ON 30.08.2011

Name :	Mr. Samir Goenka
Designation :	Director
Address :	9, Maharaja Suryarao Road, Alwarpet, Chennai-600 018, Tamilnadu, India
Date of Birth/Age :	06.10.1964
Date of Appointment :	15.07.1998
DIN No.:	00574955

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	U13200TN1974PLC006655	GIMPEX LIMITED	Managing director	01-04-07	01-11-86	-	Active	NO
2	U14299TN1992PLC022467	GIMPEX METAL LIMITED	Director	08-04-92	08-04-92	-	Active	NO
3	U52599TN1991PTC020922	SIBELCO INDIA MINERALS PRIVATE LIMITED	Director	22-08-94	22-08-94	05-10-10	Active	NO
4	U70101TN1995PLC034015	GANADHYAKSHYA PROPERTIES LIMITED	Director	29-12-95	29-12-95	-	Active	NO
5	U29309TN1998PTC040543	CENOSPHERE INDIA PRIVATE LIMITED	Director	21-05-98	21-05-98	-	Active	NO
6	U13209TN1998PTC040815	ALLIANCE MINERALS PRIVATE LIMITED	Director	15-07-98	15-07-98	-	Active	NO
7	U45202TN2001PTC047457	GIMPEX PROPERTIES PRIVATE LIMITED	Director	17-07-01	17-07-01	-	Active	NO
8	U14102TN1999PTC054392	MERCURY GRANITES PRIVATE LIMITED	Director	10-06-04	10-06-04	-	Active	NO
9	U15141TN1986PTC013236	STONE AND SLATES PRIVATE LIMITED	Director	02-07-04	02-07-04	-	Amalgamated	NO
10	U13100TN2005PLC057689	ANDHRA PRADESH IRON ORE COMPANY LIMITED	Director	27-09-05	27-09-05	-	Active	NO
11	U14102TN2005PTC055688	INDIAN REALSTONES PRIVATE LIMITED	Director	28-07-06	28-07-06	-	Active	NO
12	U14102TN2007PTC063962	ALLIANCE ANDHRA PRADESH BLACK GALAXY GRANITES PRIVATE LIMITED	Director	14-06-07	14-06-07	-	Active	NO
13	U14215TN2008PTC069736	GIMPEX AP BARYTES BENEFICIATION PRIVATE LIMITED	Director	03-11-08	03-11-08	-	Active	NO
14	U14219WB1999PTC140698	MAA SARALA GRAPHITE PRIVATE LIMITED	Director	02-04-09	02-04-09	-	Active	NO
15	U13100AP2009PTC063631	ONGOLE IRON ORE MINING COMPANY Private LIMITED	Director	11-05-09	11-05-09	-	Active	NO
16	U13204TN2011PTC078850	SAMIGO MINERAL PRIVATE LIMITED	Director	17-01-11	17-01-11	-	Active	NO

Name :	Mr. Shiv Prakash Goenka
Designation :	Director
Address :	9, Maharaja Suryarao Road, Alwarpet, Chennai-600 018, Tamilnadu, India
Date of Birth/Age :	10.08.1940
Date of Appointment :	15.07.1998
DIN No.:	00574986

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U13200TN1974PLC006655	GIMPEX LIMITED	Managing director	01-04-07	04-07-74	Active	NO
2	U14299TN1992PLC022467	GIMPEX METAL LIMITED	Director	08-04-92	08-04-92	Active	NO
3	U70101TN1995PLC034015	GANADHYAKSHYA PROPERTIES LIMITED	Director	29-12-95	29-12-95	Active	NO
4	U13209TN1998PTC040815	ALLIANCE MINERALS PRIVATE LIMITED	Director	15-07-98	15-07-98	Active	NO
5	U45202TN2001PTC047457	GIMPEX PROPERTIES PRIVATE LIMITED	Director	17-07-01	17-07-01	Active	NO
6	U14101TN2003PTC050753	S.P.G. AND COMPANY PRIVATE LIMITED	Director	24-04-03	24-04-03	Active	NO
7	U29309TN1998PTC040543	CENOSPHERE INDIA PRIVATE LIMITED	Director	18-08-03	18-08-03	Active	NO
8	U14102TN1999PTC054392	MERCURY GRANITES PRIVATE LIMITED	Director	10-06-04	10-06-04	Active	NO
9	U15141TN1986PTC013236	STONE AND SLATES PRIVATE LIMITED	Director	02-07-04	02-07-04	Amalgamated	NO
10	U14102TN2007PTC063962	ALLIANCE ANDHRA PRADESH BLACK GALAXY GRANITES PRIVATE LIMITED	Director	14-06-07	14-06-07	Active	NO
11	U13100TN2005PLC057689	ANDHRA PRADESH IRON ORE COMPANY LIMITED	Director	30-06-07	30-06-07	Active	NO
12	U14215TN2008PTC069736	GIMPEX AP BARYTES BENEFICIATION PRIVATE LIMITED	Director	03-11-08	03-11-08	Active	NO
13	U13100AP2009PTC063631	ONGOLE IRON ORE MINING COMPANY Private LIMITED	Director	11-05-09	11-05-09	Active	NO
14	U13204TN2011PTC078850	SAMIGO MINERAL PRIVATE LIMITED	Director	17-01-11	17-01-11	Active	NO

Name :	Mr. Binod Kumar Choudhary
Designation :	Director
Address :	The Highlands No. 1 and 2, IV Cross Street, Kilapauk, Chennai-600 010, Tamilnadu, India
Date of Birth/Age :	22.07.1955
Date of Appointment :	02.06.2004
DIN No.:	00769002

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	U13200TN1974PLC006655	GIMPEX LIMITED	Whole-time director	01-04-07	01-11-86	-	Active	NO
2	U14299TN1992PLC022467	GIMPEX METAL LIMITED	Director	08-04-92	08-04-92	-	Active	NO
3	U52599TN1991PTC020922	SIBELCO INDIA MINERALS PRIVATE LIMITED	Director	22-08-94	22-08-94	05-10-10	Active	NO
4	U45202TN2001PTC047457	GIMPEX PROPERTIES PRIVATE LIMITED	Director	17-07-01	17-07-01	-	Active	NO
5	U29309TN1998PTC040543	CENOSPHERE INDIA PRIVATE LIMITED	Director	18-08-03	18-08-03	-	Active	NO
6	U13209TN1998PTC040815	ALLIANCE MINERALS PRIVATE LIMITED	Director	02-06-04	02-06-04	-	Active	NO
7	U14102TN1999PTC054392	MERCURY GRANITES PRIVATE LIMITED	Director	10-06-04	10-06-04	-	Active	NO
8	U13100TN2005PLC057689	ANDHRA PRADESH IRON ORE COMPANY LIMITED	Director	27-09-05	27-09-05	-	Active	NO
9	U14102TN2005PTC055688	INDIAN REALSTONES PRIVATE LIMITED	Director	28-07-06	28-07-06	-	Active	NO
10	U15141TN1986PTC013236	STONE AND SLATES PRIVATE LIMITED	Director	31-07-06	31-07-06	-	Amalgamated	NO
11	U14102TN2007PTC063962	ALLIANCE ANDHRA PRADESH BLACK GALAXY GRANITES PRIVATE LIMITED	Director	14-06-07	14-06-07	-	Active	NO
12	U70101TN1995PLC034015	GANADHYAKSHYA PROPERTIES LIMITED	Director	29-09-08	29-09-08	-	Active	NO
13	U14215TN2008PTC069736	GIMPEX AP BARYTES BENEFICIATION PRIVATE LIMITED	Director	03-11-08	03-11-08	-	Active	NO
14	U14219WB1999PTC140698	MAA SARALA GRAPHITE PRIVATE LIMITED	Director	02-04-09	02-04-09	-	Active	NO
15	U13100AP2009PTC063631	ONGOLE IRON ORE MINING COMPANY Private LIMITED	Managing director	12-01-10	11-05-09	-	Active	NO
16	U14200TN2010PTC074326	AMPL GRANITES PRIVATE LIMITED	Director	21-01-10	21-01-10	-	Active	NO
17	U13204TN2011PTC078850	SAMIGO MINERAL PRIVATE LIMITED	Director	17-01-11	17-01-11	-	Active	NO

Name :	Mr. Amitabh Avnish Kumar
Designation :	Director
Address :	Flat No.4 F, Block III, Rani Meyammi Towers, Ra Puram, Chennai-600028, Tamilnadu, India
Date of Birth/Age :	22.11.1962
Date of Appointment :	31.08.2010
DIN No.:	03274710

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29309TN1998PTC040543	CENOSPHERE INDIA PRIVATE LIMITED	Director	27-08-10	27-08-10	Active	NO
2	U13209TN1998PTC040815	ALLIANCE MINERALS PRIVATE LIMITED	Director	31-08-10	31-08-10	Active	NO

KEY EXECUTIVES

Name :	Mr. K Baskar
Designation :	Secretary
Address :	5/3, Ayyappa , Flat, Ramachandra Road, Mylapore, Chennai-600004, Tamilnadu, India
Date of Appointment :	24.08.2009
Pan No.:	ALEPB4557E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.08.2011

Names of Shareholders	No. of Shares
Shiv Prakash Goenka	51298990
Samir Goenka	27426010
Gimpex Limited, India	25150000
SPG Singapore	14952340
Gimpex Metal Limited, India	100000
Anupam Granites Private Limited, India	2000000
KA Capital, India	2000000
M3 Infrastructure Private Limited, India	27500000
Asia Alliance Holding PTE, Singapore	11300000
Total	161727340

AS ON 30.08.2011

Equity Shares Break Up	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	16.24
Bodies corporate	33.84
Directors or relatives of Directors	48.68
Other top fifty shareholders	1.24
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Granite Slabs
Products :	Granite Slabs

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
Granite Slabs	Sq. ft.	2400000	6837

GENERAL INFORMATION

No. of Employees :

10 (Approximately)

Bankers :

· Corporation Bank, 101 Armenian Street, Chennai-600001, Tamilnadu, India

· Syndicate Bank, 69, Armenian Street, Chennai-600001, Tamilnadu, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee term loans secured
Rupee term loans banks secured	291.230	302.864
Working capital loans secured
Working capital loans banks secured	202.792	126.611
Total	494.022	429.475
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Working capital loans others unsecured	21.325	0.000
Loans directors unsecured	7.018	7.018
Deposits related parties unsecured	85.202	186.987
Total	113.545	194.005

Banking Relations :	--
Auditors :
Name :	Krishnan and Giri Chartered Accountants
Address :	No. 72, Thatha Muthiappan Street, Chennai, Tamilnadu-600 001
Tel. No.:	91-44-25233837
Pan No.:	AAAFK4344F
Subsidiaries :	· Mercury Granities Private Limited CIN No.: - U14102TN1999PTC054392 · Indian Realstones Private Limited CIN No.: - U14102TN2005PTC055688

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs. 200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16172734	Equity Shares	Rs.10/- each	Rs. 161.727 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		161.727	141.975	141.975
2] Share Application Money		0.026	48.009	48.009
3] Reserves & Surplus		245.571	67.800	67.800
4] (Accumulated Losses)		(78.232)	(95.218)	(114.071)
NETWORTH		329.092	162.566	143.713
LOAN FUNDS
1] Secured Loans		494.022	429.475	377.769
2] Unsecured Loans		113.545	194.005	161.256
TOTAL BORROWING		607.567	623.480	539.025
DEFERRED TAX LIABILITIES		36.699	35.423	27.020
TOTAL		973.358	821.469	709.758
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		411.053	437.921	426.693
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		100.882	100.882	100.109
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	281.673	195.602	172.978
	Sundry Debtors	169.698	100.594	28.723
	Cash & Bank Balances	5.395	7.005	2.351
	Other Current Assets	0.299	0.086	0.000
	Loans & Advances	85.794	59.063	43.696
Total Current Assets		542.859	362.350	247.748
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	59.111	70.342	54.501
	Other Current Liabilities	14.107	7.584	9.148
	Provisions	8.468	1.959	1.543
Total Current Liabilities		81.686	79.885	65.192
Net Current Assets		461.173	282.465	182.556
MISCELLANEOUS EXPENSES		0.250	0.201	0.403
TOTAL		973.358	821.469	709.358

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income	431.817	213.954
		Other Income
		TOTAL (A)	431.817	213.954
Less	EXPENSES
		Office Expenses	326.526	229.567
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	326.526	229.567
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		105.291	(15.613)
Less	FINANCIAL EXPENSES (D)		57.590	47.783
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		47.701	(63.396)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		19.262	18.223
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		28.439	(81.619)
Less	TAX (H)		9.587	10.511
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		18.852	(92.130)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(114.070)	(21.940)
	BALANCE CARRIED TO THE B/S		(95.218)	(114.070)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	256.170	192.958
	TOTAL EARNINGS		256.170	192.958
	IMPORTS
		Machinery	0.000	0.543
		Stores & Spares	22.835	8.439
	TOTAL IMPORTS		22.835	8.982
	Earnings / (Loss) Per Share (Rs.)		1.33	(0.06)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	4.37	(43.06)
Return on Total Assets (PBT/Total Assets}	(%)	NA	3.55	(12.10)
Return on Investment (ROI) (PBT/Networth)		NA	0.09	(0.50)
Debt Equity Ratio (Total Liability/Networth)		2.21	4.54	4.39
Current Ratio (Current Asset/Current Liability)		6.65	4.54	3.80

LOCAL AGENCY FURTHER INFORMATION

FORM 8

Corporate identity number of the company	U13209TN1998PTC040815
Name of the company	ALLIANCE MINERALS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	282, Linghi Chetty Street, Chennai-600 001, Tamilnadu, India
This form is for	Modification of charge
Type of charge	Immovable property Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	Syndicate Bank, 69, Armenian Street, Chennai-600001, Tamilnadu, India
Nature of instrument creating charge	1. Interse agreement and guarantee agreement date 05.01.12 2 working capital consortium agreement date 05.01.12 3 confirmation of creation of second/ subsequent EM 4 Joint deed of hypothecation and Memorandum of deposit of title deeds confirming deposit of title deeds with the first charge holder, and board resolution
Date of instrument Creating the charge	05.01.2012
Amount secured by the charge	Rs. 574.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest as per agreement Terms of repayment as per agreement Margin as per agreement Extent and operation of the charge Running PCL against LC will be closed within 180 days FDBP/LC/NLC Facilities - Export Bills Covering The Dispatch of Granite And Marble Slabs With A Usance Period of 120 Days ILC/FLC/ BG for procuring RM, BG for government departments and others in connection with the line of activity - max usance period 180 days
Short particulars of the property charged (Including location of the property)	First charge (on paripassu basis) by way of hypothecation on the entire current assets of the borrower both present and future First charge by way of hypothecation on entire plant and machinery and other movables First charge over all the immovable properties of the borrower for all the faculties including outside consortium also First charge on existing lease hold rights at Karim Nagar mines for all the facilities including outside consortium also
Charge identification number of the charge to be modified	10159199
Date of instrument modifying the charge	11.11.2010
Particulars of the present modification	Particulars Existing Modified PCL Rs. 95.000 Millions 120.000 Millions ILC/FLC Rs. 10.000 Millions 20.000 Millions FUBP/FDUBP Rs. 125.000 Millions 155.000 Millions TL Rs 279.000 Millions 27.9000 Millions Total Rs 509.000 Millions 574.000 Millions

FIXED ASSETS

· Land

· Factory Building

· Non Factory Building

· Plant and Machinery

· Computer

· Office Equipments

· Furniture and Fittings

· Vehicles

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. 49.15
UK Pound	1	Rs. 78.24
Euro	1	Rs. 65.56

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	--
--CREDIT LINES	1~10	2
--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		28

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.