MIRA INFORM REPORT

Report Date :

11.05.2012

IDENTIFICATION DETAILS

Name :	SDB INFRASTRUCTURE PRIVATE LIMITED (w.e.f. 06.04.2011)
Formerly Known As :	SOM DATT BUILDERS PRIVATE LIMITED
Registered Office :	Gajraj Chambers, 2B, Second Floor, 86 B/2, Topsia Road (South), Kolkata – 700046, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	25.02.1965
Com. Reg. No.:	21-026380
Capital Investment / Paid-up Capital :	Rs. 6.990 Millions
CIN No.: [Company Identification No.]	U45201WB1965PTC026380
TAN No.: [Tax Deduction & Collection Account No.]	CALS00485C
PAN No.: [Permanent Account No.]	AAECS6429C
Legal Form :	Private Limited Liability Company
Line of Business :	Construction Activities.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 6400000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an old and established company having satisfactory track. There appears some dip in the turnover and profitability of the company. However, networth of the company appears to be satisfactory. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. 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 (30.09.2011)	Current Rating (31.12.2011)
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 :	Gajraj Chambers, 2B, Second Floor, 86 B/2, Topsia Road (South), Kolkata – 700046, West Bengal, India
Tel. No.:	91-33-22803862
Fax No.:	91-33-22871835
E-Mail :	sdbhoaccounts@rediffmail.com

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Brahm Datt

Designation :

Director

Address :

M – 16, Greater Kailash Part – I, Delhi – 110048, India

Date of Birth/Age :

30.06.1932

Date of Appointment :

25.02.1965

DIN No.:

00041462

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	U45201WB1965PTC026380	SDB INFRASTRUCTURE PRIVATE LIMITED	Director	25-02-65	25-02-65	Active	NO
2	U51397WB1995PLC067731	DATT MEDIPRODUCTS LIMITED	Director	23-01-95	23-01-95	Active	NO
3	U65929WB1995PLC067732	DATT CAPITAL SERVICES LIMITED	Director	23-01-95	23-01-95	Active	NO
4	U45201WB1990PLC049119	DATT ENTERPRISES LIMITED	Director	27-11-03	27-11-03	Active	NO
5	U15201WB1983PTC037040	BRAHM DATT INVESTMENTS AND FINANCE COMPANY PRIVATE LIMITED	Director	27-11-03	27-11-03	Active	NO
6	U74899DL1993PTC056355	RAJAT PLASTIC PRODUCTS PRIVATE LIMITED	Director	15-10-04	15-10-04	Active	NO
7	U00500DL2005PTC140504	BRAHM DATT ESTATE PRIVATE LIMITED	Director	08-09-05	08-09-05	Strike off	NO
8	U70200WB2009PTC139749	SOM DATT BUILDERS PRIVATE LIMITED	Director	26-11-09	26-11-09	Active	NO
9	U55101WB2009PTC139735	SOM DATT LANDMARK HOTELS AND RECREATIONS PRIVATE LIMITED	Director	26-11-09	26-11-09	Active	NO
10	U74140WB2009PTC139770	SDB INVESTMENTS CONSULTANCY PRIVATE LIMITED	Director	27-11-09	27-11-09	Active	NO

Name :

Mr. Inder Mohan Khaneja

Designation :

Director

Address :

3 – Anand Lok, New Delhi – 110049, India

Date of Birth/Age :

06.01.1935

Date of Appointment :

25.02.1965

DIN No.:

00052052

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	U45201WB1965PTC026380	SDB INFRASTRUCTURE PRIVATE LIMITED	Director	25-02-65	25-02-65	Active	NO
2	U51109WB1990PLC049118	KHANEJA CONSOLIDATE ENTERPRISES LIMITED	Director	20-08-94	20-08-94	Active	NO
3	U70200WB2009PTC139749	SOM DATT BUILDERS PRIVATE LIMITED	Director	26-11-09	26-11-09	Active	NO
4	U55101WB2009PTC139735	SOM DATT LANDMARK HOTELS AND RECREATIONS PRIVATE LIMITED	Director	26-11-09	26-11-09	Active	NO
5	U74140WB2009PTC139770	SDB INVESTMENTS CONSULTANCY PRIVATE LIMITED	Director	27-11-09	27-11-09	Active	NO

Name :

Mr. Hari Govindram Advani

Designation :

Director

Address :

M – 58, Greater Kailash Part – II, Delhi – 110048, India

Date of Birth/Age :

13.07.1938

Date of Appointment :

25.02.1965

DIN No.:

00041504

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	U45201WB1965PTC026380	SDB INFRASTRUCTURE PRIVATE LIMITED	Whole-time director	25-02-65	25-02-65	Active	NO
2	U70200WB2009PTC139749	SOM DATT BUILDERS PRIVATE LIMITED	Director	14-07-11	05-04-11	Active	NO

Name :

Mr. Som Datt Khanuja

Designation :

Director

Address :

A – 18, Geetanjali Enclave, New Delhi – 110017, India

Date of Birth/Age :

23.12.1923

Date of Appointment :

06.12.2006

DIN No.:

00046948

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	L65921WB1993PLC060507	SOM DATT FINANCE CORPORATION LIMITED	Director	19-10-93	19-10-93	04-10-11	Active	NO
2	U23209WB1994PLC064756	SOM DATT CAPITAL DEVELOPMENT LIMITED	Director	26-08-94	26-08-94	04-10-11	Active	NO
3	U67110WB1995PLC072393	SOM DATT SECURITIES LIMITED	Director	28-06-95	28-06-95	04-10-11	Active	NO
4	U40108WB1996PLC076377	SOM DATT POWER LIMITED	Director	05-01-96	05-01-96	04-10-11	Active	NO
5	L15326WB1996PLC077098	SOM DATT NORAC HITECH INDUSTRIES LIMITED	Director	07-02-96	07-02-96	-	Strike off	NO
6	U00500DL2005PTC140503	SOM DATT ESTATE PRIVATE LIMITED	Director	08-09-05	08-09-05	-	Strike off	NO
7	U45201WB1965PTC026380	SDB INFRASTRUCTURE PRIVATE LIMITED	Director	06-12-06	06-12-06	04-10-11	Active	NO
8	U45201DL2006PTC147480	LANDMARK PROCON PRIVATE LIMITED	Director	30-09-08	01-01-08	04-10-11	Active	NO
9	U70200WB2009PTC139749	SOM DATT BUILDERS PRIVATE LIMITED	Director	26-11-09	26-11-09	04-10-11	Active	NO
10	U55101WB2009PTC139735	SOM DATT LANDMARK HOTELS & RECREATIONS PRIVATE LIMITED	Director	26-11-09	26-11-09	04-10-11	Active	NO
11	U74140WB2009PTC139770	SDB INVESTMENTS CONSULTANCY PRIVATE LIMITED	Director	27-11-09	27-11-09	04-10-11	Active	NO

Name :

Latika Datt Abbott

Designation :

Director

Address :

C – 10, Geetanjali Malviya Nagar, New Delhi – 110017, India

Date of Birth/Age :

24.09.1965

Date of Appointment :

01.02.2012

DIN No.:

00031056

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	U70109WB1983PTC037039	SOM DATT INVESTMENTS AND FINANCE COMPANY PRIVATE LIMITED	Director	01-12-88	01-12-88	Active	NO
2	U45209WB1990PLC049117	SOM DATT ENTERPRISES LIMITED	Director	29-05-90	29-05-90	Active	NO
3	U29266WB1993PLC060663	SOM DATT OVERSEAS LIMITED	Director	05-11-93	05-11-93	Active	NO
4	U23209WB1994PLC064756	SOM DATT CAPITAL DEVELOPMENT LIMITED	Director	26-08-94	26-08-94	Active	NO
5	U40108WB1996PLC076377	SOM DATT POWER LIMITED	Director	05-01-96	05-01-96	Active	NO
6	L15326WB1996PLC077098	SOM DATT NORAC HITECH INDUSTRIES LIMITED	Director	07-02-96	07-02-96	Strike off	NO
7	U72900WB2000PTC091534	SOM DATT INFOSOFT PRIVATE LIMITED	Director	30-03-00	30-03-00	Active	NO
8	U67110WB1995PLC072393	SOM DATT SECURITIES LIMITED	Whole-time director	31-03-05	31-03-05	Active	NO
9	L65921WB1993PLC060507	SOM DATT FINANCE CORPORATION LIMITED	Managing director	15-06-10	15-06-05	Active	NO
10	U00500DL2005PTC140503	SOM DATT ESTATE PRIVATE LIMITED	Director	08-09-05	08-09-05	Strike off	NO
11	U45201DL2006PTC147480	LANDMARK PROCON PRIVATE LIMITED	Director	30-09-08	01-01-08	Active	NO
12	U92412DL2009PTC190463	LMV City Fitness Private Limited	Director	20-05-09	20-05-09	Active	NO
13	U45201WB1965PTC026380	SDB INFRASTRUCTURE PRIVATE LIMITED	Director	01-02-12	01-02-12	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
BDIFC Private Limited, India	1600
IMIFC Private Limited, India	900
Som Datt Khanuja	22720
Usha Datt	6980
Anuradha Datt Munjal	1050
Charu Datt Bhatia	1050
Latika Datt Abbott	1050
Brahm Datt	10000
Brahm Datt HUF	5768
Rajan Datt	1000
Sidhant Datt	1000
Inder Mohan Khanuja	5482
Inder Mohan HUF	1000
Geeta Datt	1000
Ruchita Datt	1000
Shefali Datt	1000
Sumit Khanuja	2600
Amit Khanuja	2600
Sadhana Singh	1050
Anjali Anand	1050
Total	69900

AS ON 30.09.2011

Equity Share Breakup Category	Percentage of Holding
Bodies corporate	4.00
Directors or relatives of directors	96.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Construction Activities.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee term loans banks secured	0.000	122.229
Deposits secured	0.000	362.702
Other debt secured	35.211	73.567
Total	35.211	558.498
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Loans directors unsecured	0.145	0.145
Other Debt unsecured	0.000	54.205
Total	0.145	54.350

Banking Relations :	--
Auditors :
Name :	K L Chatrath and Company Chartered Accountants
Address :	8, Circus Market Place, Kolkata – 700017, West Bengal, India
PAN No.:	AACFK6447K
Tel. No.:	91-33-65446366/ 65447123/ 40001831/ 40001838
Fax No.:	91-033-2287183
E-Mail :	info@klc.co.in
Associates :	· SDB Builders Private Limited · SDB Datt Landmark Hotels and Recreations Private Limited · Som Datt Finance Corporation Limited · Som Datt Securities Limited · Som Datt Investment and Finance Private Limited · Landmark Procon Private Limited · Som Datt Enterprises Limited · Som Datt Capital Development Limited · Som Datt Overseas Limited · Khaneja Consolidated Limited · Datt Mediproduct Limited · Czar Infrastructure Private Limited · Datt Enterprises Limited · Brahm Datt Investment and Finance Company Private Limited
Subsidiary :	· Som Datt Power Limited
Joint Venture :	· ITD – SDB (JV) · SDB – NCC – NEC (JV)
Partnership Firm :	· Alpha Services · Som Datt Constructions

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
175000	Equity Shares	Rs. 100/- each	Rs. 17.500 Millions
100000	Preference Shares	Rs. 100/- each	Rs. 10.000 Millions
	Total		Rs. 27.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
69900	Equity Shares	Rs. 100/- each	Rs. 6.990 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		6.990	6.990	6.990
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1609.839	2214.846	1922.192
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1616.829	2221.836	1929.182
LOAN FUNDS
1] Secured Loans		35.211	558.498	1106.439
2] Unsecured Loans		0.145	54.350	187.384
TOTAL BORROWING		35.356	612.848	1293.823
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1652.185	2834.684	3223.005
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		44.152	416.623	432.729
Capital work-in-progress		0.000	34.505	0.000
INVESTMENT		934.064	948.979	998.455
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	342.083	741.895	1142.872
	Sundry Debtors	20.468	234.381	76.401
	Cash & Bank Balances	229.359	121.921	311.418
	Other Current Assets	5.446	8.111	32.167
	Loans & Advances	524.969	969.543	1113.339
Total Current Assets		1122.325	2075.851	2676.197
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	124.111	262.708	483.295
	Other Current Liabilities	135.856	148.366	161.254
	Provisions	188.389	230.200	239.827
Total Current Liabilities		448.356	641.274	884.376
Net Current Assets		673.969	1434.577	1791.821
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1652.185	2834.684	3223.005

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		45.020	276.973	236.843
Less/ Add	DEPRECIATION/ AMORTISATION		5.456	59.577	68.220
	PROFIT BEFORE TAX		39.564	217.396	168.623
Less	TAX		16.724	65.182	24.397
	PROFIT AFTER TAX		22.840	152.214	144.226
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		561.043	480.627	403.198
Less	APPROPRIATIONS
		Transfer to General Reserve	2.500	25.000	20.000
		Dividend	10.485	40.000	40.000
		Tax on Dividend	1.701	6.798	6.797
	BALANCE CARRIED TO THE B/S		569.197	561.043	480.627
	Earnings Per Share (Rs.)		0.33	2.17	N.A.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	14.93	7.61
Return on Total Assets (PBT/Total Assets}	(%)	3.39	8.72	5.42
Return on Investment (ROI) (PBT/Networth)		0.02	0.10	0.09
Debt Equity Ratio (Total Liability/Networth)		0.30	0.56	1.13
Current Ratio (Current Asset/Current Liability)		2.50	3.24	3.03

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. Constructions 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

Notes:

The registered office of the company has been shifted from Office Space No. 2B, 2^nd Floor, Premises No. 86B/2, Topsia Road (South), Kolkata - 700046, West Bengal, India to the present address w.e.f. 08.03.2010.

Bankers Charges Report as per Registry

Corporate identity number of the company	U45201WB1965PTC026380
Name of the company	SOM DATT BUILDERS PRIVATE LIMITED
This form is for	Creation of charge
Address of the registered office or of the principal place of business in India of the company	Gajraj Chambers, 2B, Second Floor, 86 B/2, Topsia Road (South), Kolkata - 700046, West Bengal, India
Type of charge	Movable Property (not being pledge)
Particular of charge holder	Tata Capital Limited, One Forbes, Dr. V B Gandhi Marg, Fort - 400001, Mumbai, Maharashtra, India Email Id: shailesh.rajadhyaksha@tatacapital.com
Nature of description of the instrument creating or modifying the charge	Loan cum Hypothecation cum Guarantee Agreement No. 7000106792 dated 28.02.2011
Date of instrument Creating the charge	28.02.2011
Amount secured by the charge	Rs. 6.790 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest @ 4.78% per annum Terms of Repayment Principal and interest thereon, to be repaid in 23 EMI's of Rs. 0.323 millions Margin N.A. Extent and Operation of the charge The loan together with all interest, costs, fees and expenses and all monies payable in terms of this Loan Agreement is secured by hypothecation of the Asset
Short particulars of the property charged	Motor Grader Model G-930

FINANCIAL RESULTS:

The turnover of the company during the year was Rs. 265.050 millions as compared to Rs. 2856.303 millions in last year and the Company has earned net profit before tax of Rs. 39.565 millions as compared to Rs. 217.396 millions during last year.

The overall performance of the Company has been satisfactory during the year, the directors are hopeful for better results in ensuing year.

ONGOING CONSTRUCTION CONTRACTS, RELATED TRANSPORT DIVISION AND HOTEL DIVISION:

During the year, the Hon’ble High Court of Calcutta has sanctioned the Scheme of Arrangement for demerger of “Hotel Undertaking” and “Ongoing Construction Contracts and Related Transport Services Undertaking” of the company and demerged into Som Datt Landmark Hotel and Recreations Private Limited and Som Datt Relators and Developers Private Limited (post demerger name is changed to Som Datt Builders Private Limited) respectively, on a going concern basis.

Pursuant to said Scheme of Arrangement the appointed date of above transfers is 1st Day of April, 2010, i.e. the date from which operations and controls of hotel division and on going construction divisions have been deemed to be transferred to the above said two companies (transferee companies) and all profits/losses that arise after that date are to the account of the transferee companies. The Company had accordingly excluded the results of operation of above said divisions, in its financial statement from April 01, 2010.

FIXED ASSETS:

• Land and Building
• Plant and Machinery
• Earth Moving Machinery
• Computers
• Vehicles
• Motor Cars
• Furniture and Fixtures
• Office Equipment
• Construction Tools and Accessories
• Temporary Structures / Sheds

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. 53.34
UK Pound	1	Rs. 86.11
Euro	1	Rs. 69.07

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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

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.