MIRA INFORM REPORT

Report Date :

24.03.2012

IDENTIFICATION DETAILS

Name :	VIBRANT IMPORT CORPORATION

Registered Office :	Edificio Servicios Aeroportuarios Of. 53, 4to. Piso

Country :	Panama

Date of Incorporation :	06.05.2003

Legal Form :	Corporation

Line of Business :	Representative of apparel for women, men and children. Casual clothing.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Unknown

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Panama

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

IDENTIFICATION

CORRECT COMPANY NAME

VIBRANT IMPORT CORPORATION

TAXPAYER REGISTRATION

RUC 463519-1-433228

MAIN ADDRESS

Edificio Servicios Aeroportuarios Of. 53, 4to. Piso

PROVINCE / DEPARTAMENT

Panamá

STATE / REGION

Panamá

COUNTRY

PANAMA

TELEPHONE

(507) 4413715

E-MAIL

maruti@psi.net.pas

SUMMARY
Date of foundation	2003
Capital stock	US$50,000.00 Dollars
permanent employees	Not specified
Chief Executive	CHAWLA, AMBUJ
Disposition	Excellent.- Full information and updated figures.
Payments policy	Without rating (No payment experience traced)
Credit ()**	Indeterminate / Information is insufficient.

LEGAL BACKGROUNDS

LEGAL STATUS	Corporation
DATE OF INCORPORATION	06MAY2003
PLACE OF REGISTRY	Panama
NOTARY OFFICE	Segunda del Circuito.
DURATION	Perpetual
REGISTRATION	File card 433228, Volume 2003, Entry 47989
CURRENT PAID-IN CAPITAL	US$50,000.00 Dollars
CLASS OF SHARES	Registered
LISTED AT STOCK EXCHANGE	No
SHARE VALUE	US$1,000.= Dollars
CURRENT EXCHANGE RATE (US$)	B/.1.= Balboa per 1 USD

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
*CHAWLA, AMBUJ*	President		08/05/03
MORALES, MELKYS SAVIER	Treasurer		08/05/03
CHAVEZ, LENIGDIO XAVIER	Director		08/05/03
CASTRO Y CASTRO S.C.	Registered Agent		08/05/03

WHO IS WHO?

CASTRO Y CASTRO S.C.

BACKGROUND INFORMATION

Law Firm

Address: San Francisco Calle los Fundadores y Calle Mario Guardia Jaen Apdo: 0830-1630 Panama.

Tel.(507) 270-0155

Fax (507) 270-0173

BUSINESS HISTORY

Subject Company was established on May 6, 2003 pursuant to Deed No. 3152.

LENIGDIO XAVIER CHAVEZ  and MELKYS SAVIER MORALES signed the articles of incorporation.

BUSINESS

Main activity

Representative of apparel for women, men and children. Casual clothing.

EMPLOYEES

Not specified

LOCATION
OTHER PREMISES	The Registered office operate at the address shown in the heading.

FINANCIAL INFORMATION

Interviewee(s)	Sr. Ambuj Chawla
Position(s)	President
Disposition	Excellent.- Full information and updated figures.
Information provided	During this investigation in the company's head office, we contacted a person called Enit who refused to tell us his position. He only provided the e-mail address so that we can send our request and refused to keep talking to us. We made the arrangements and after waiting several days for a reply to our messages, we tried to contact again the company. However, the personnel told us that the owner was not in the office. They did not give further information and kept refusing to talk to us. We have continued with our investigation, and finally could contact Ambuj Chawla who asked us to tell him the name of the company requesting the company's information; otherwise, he will not be able to evaluate the possibility to help us. This report has been prepared based on information gathered from third-party sources and official. We suggest caution when starting business operations with Subject Company, since by not having financial information and/or benchmark sales figures, and not knowing the relationship with its suppliers, no international business activities could be neither determined nor guaranteed.

SALES	US$ 0.00 ()
FINANCIAL SITUATION	UNDETERMINED The company's Financial Standing is considered to be Undetermined since there is no financial information that allows us to asses its results. The lack of credit experience does not show us it liquidity capacity. Generally, the refusal to provide figures deliberately conceals some financial maladjustments; however it is not definitive.
Insurance Comments	No insurance-related information could be obtained.

PAYMENTS RECORD: TRADE REFERENCES

(Confidential Information)

CREDIT HISTORY

Due to the reticence shown by the company's representatives to provide every kind of information, the names of its suppliers or the financial institutions with which it works could not be obtained.

No records of commercial credits or financing granted to the Subject were found in the inquiry made in local sources. Therefore, its payment history cannot be determined.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.90
UK Pound	1	Rs.80.77
Euro	1	Rs.67.40

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.