MIRA INFORM REPORT

Report Date :

15.05.2012

IDENTIFICATION DETAILS

Name :	INTEGRITY FZE

Registered Office :	Hamriyah Free Zone, P O Box 34475, Sharjah

Country :	United Arab Emirates

Financials (as on) :	31.12.2011

Date of Incorporation :	20.01.2008

Legal Form :	Free Zone Establishment

Line of Business :	Distributors of metal, aluminium, steel scrap and heavy machinery

No. of Employees :	02

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Satisfactory

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 : INTEGRITY FZE

Country of Origin : Sharjah, United Arab Emirates

Legal Form : Free Zone Establishment - FZE

Registration Date : 20^th January 2008

Trade Licence Number : 3326

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Total Workforce : 2

Activities : Distributors of metal, aluminium, steel scrap and heavy machinery.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Person Interviewed : Ojas Hemir Mehta, Managing Director

COMPANY NAME

INTEGRITY FZE

company ADDRESS

Registered & Physical Address

Location : Hamriyah Free Zone

PO Box : 34475

Town : Sharjah

Country : United Arab Emirates

Telephone : (971-6) 5330456

Facsimile : (971-6) 5330456

Mobile : (971-55) 6267870 / 6877417

Email : ojasmeht@eim.ae

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Hamriyah Free Zone Area of Sharjah.

KEY PRINCIPALS

Name Nationality Position

· Ojas Hemir Mehta Indian Managing Director

· Jadeep Mane - Assistant General Manager

LEGAL FORM & OWNERS

Date of Establishment : 20^th January 2008

Legal Form : Free Zone Establishment - FZE

Trade Licence No. : 3326

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Name of Shareholder (s) Percentage

· Ojas Hemir Mehta 100%

OPERATIONS

Activities: Engaged in the import and distribution of metal, aluminium, steel scrap and heavy machinery.

Import Countries: Europe and the Far East.

Export Countries: India and the Far East

Operating Trend: Steady

Subject has a workforce of 2 employees.

FINANCIAL DATA

Currency: United Arab Emirates Dirham (UAE Dh)

Year Ending 31/12/10: Year Ending 31/12/11:

Total Sales UAE Dh 42,300,000 UAE Dh 45,000,000

Local sources consider subject’s financial condition to be Fair.

The above figures were provided by Mr Ojas Hemir Mehta, Managing Director

BANKERS

· National Bank of Dubai

Baniyas Street

PO Box: 777

Dubai

Tel: (971-4) 2222241

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.71
UK Pound	1	Rs.86.34
Euro	1	Rs.69.23

INFORMATION DETAILS

Report Prepared by :

MNL

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.