Business information report

1. Summary Information

		Country	India
Company Name	ANANDAMELA ELECTRONICS PRIVATE LIMITED	Principal Name 1	Mr. Tushar Kanti Ghosh
Status	Moderate	Principal Name 2	Mr. Papiya Ghosh
		Registration #	21-108861
Street Address	1^st Floor, 2, Bidhan Road, Opp. Kanchanjungha Stadium (Focin Gate), Siliguri – 734001, West Bengal, India
Established Date	04.04.2006	SIC Code	--
Telephone#	91-353-2430544/ 2432308	Business Style 1	Manufacturers
Fax #	91-353-2522997	Business Style 2	Exporter
Homepage	--	Product Name 1	Electrical and Electronics Goods
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 12,941,000/-	Product Name 3	--
Shareholders	Directors or relatives of directors (100%)	Banking	State Bank of India
Public Limited Corp.	No	Business Period	6 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	B (27)
Related Company
Relation	Country	Company Name	CEO
Associates	--	Binsons Plantations Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	34,142,000	Current Liabilities	12,017,000
Inventories	27,427,000	Long-term Liabilities	56,777,000
Fixed Assets	24,683,000	Other Liabilities	2,463,000
Deferred Assets	000	Total Liabilities	71,257,000
Invest& other Assets	6,777,000	Retained Earnings	6,833,000
		Net Worth	21,772,000
Total Assets	93,029,000	Total Liab. & Equity	93,029,000
Total Assets (Previous Year)	67,666,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	427,585,000	Net Profit	3,320,000
Sales(Previous yr)	358,722,000	Net Profit(Prev.yr)	2,139,000

MIRA INFORM REPORT

Report Date :

16.05.2012

IDENTIFICATION DETAILS

Name :	ANANDAMELA ELECTRONICS PRIVATE LIMITED
Registered Office :	1^st Floor, 2, Bidhan Road, Opp. Kanchanjungha Stadium (Focin Gate), Siliguri – 734001, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	04.04.2006
Com. Reg. No.:	21-108861
Capital Investment / Paid-up Capital :	Rs. 12.941 Millions
CIN No.: [Company Identification No.]	U32109WB2006PTC108861
TAN No.: [Tax Deduction & Collection Account No.]	CALA09106G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers and Exporter of Electrical and Electronics Goods.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 87000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

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 :	1^st Floor, 2, Bidhan Road, Opp. Kanchanjungha Stadium (Focin Gate), Siliguri – 734001, West Bengal, India
Tel. No.:	91-353-2430544/ 2432308
Fax No.:	91-353-2522997
E-Mail :	tushar.anandamela@gmail.com

DIRECTORS

As on 30.09.2011

Name :	Mr. Tushar Kanti Ghosh
Designation :	Director
Address :	“Anandamela”, 2 Bidhan Road, Siliguri – 734 001, District – Darjeeling, West Bengal, India
Date of Birth/Age :	01.06.1963
Date of Appointment :	04.04.2006
DIN No.:	00558717

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	U32109WB2006PTC108861	ANANDAMELA ELECTRONICS PRIVATE LIMITED	Director	04-04-06	04-04-06	Active	NO
2	U01132WB1991PTC050880	GOURI TEA PRIVATE LIMITED	Director	10-06-06	10-06-06	Active	NO
3	U01132WB1997PTC085936	BINSONS PLANTATIONS PRIVATE LIMITED	Director	25-05-07	25-05-07	Active	NO
4	U15491WB1989PTC048022	KIRAN TEA PLANTERS PRIVATE LIMITED	Director	04-04-08	04-04-08	Active	NO

Name :	Mr. Papiya Ghosh
Designation :	Director
Address :	“Anandamela”, 428/1/459, Girish Ghosh Sarani, Siliguri, District – Darjeeling – 734001, West Bengal, India
Date of Birth/Age :	04.01.1968
Date of Appointment :	10.04.2006
DIN No.:	00561243

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	U32109WB2006PTC108861	ANANDAMELA ELECTRONICS PRIVATE LIMITED	Director	10-04-06	10-04-06	Active	NO
2	U01132WB1991PTC050880	GOURI TEA PRIVATE LIMITED	Director	10-06-06	10-06-06	Active	NO
3	U01132WB1997PTC085936	BINSONS PLANTATIONS PRIVATE LIMITED	Director	25-05-07	25-05-07	Active	NO
4	U15491WB1989PTC048022	KIRAN TEA PLANTERS PRIVATE LIMITED	Director	04-04-08	04-04-08	Active	NO

Name :	Mrs. Shefaly Ghosh
Designation :	Director
Address :	“Anandamela”, 428/1/459, Girish Ghosh Sarani, Siliguri – 734 001, District – Darjeeling, West Bengal, India
Date of Birth/Age :	01.01.1932
Date of Appointment :	10.04.2006
DIN No.:	00561210

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	U32109WB2006PTC108861	ANANDAMELA ELECTRONICS PRIVATE LIMITED	Director	10-04-06	10-04-06	Active	NO

Name :	Mr. Hirendra Mitra
Designation :	Director
Address :	Gurusaday Dutta Road, By-Lane, Bharat Nagar, P.O. Rabindra Sarani, Siliguri – 734 006, District – Darjeeling, West Bengal, India
Date of Birth/Age :	08.03.1935
Date of Appointment :	10.04.2006
DIN No.:	00573120

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	U32109WB2006PTC108861	ANANDAMELA ELECTRONICS PRIVATE LIMITED	Director	10-04-06	10-04-06	Active	NO

Name :	Mr. Shukla Dey
Designation :	Director
Address :	Gurusaday Dutta Road, By-Lane, Bharat Nagar, P.O. Rabindra Sarani, Siliguri – 734 006, District – Darjeeling, West Bengal, India
Date of Birth/Age :	15.12.1954
Date of Appointment :	10.04.2006
DIN No.:	00573144

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	U32109WB2006PTC108861	ANANDAMELA ELECTRONICS PRIVATE LIMITED	Director	10-04-06	10-04-06	Active	NO

Name :	Mr. Soma Dey
Designation :	Director
Address :	Gurusaday Dutta Road, By-Lane, Bharat Nagar, P.O. Rabindra Sarani, Siliguri – 734 006, District – Darjeeling, West Bengal, India
Date of Birth/Age :	06.11.1976
Date of Appointment :	10.04.2006
DIN No.:	00573157

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	U32109WB2006PTC108861	ANANDAMELA ELECTRONICS PRIVATE LIMITED	Director	10-04-06	10-04-06	Active	NO

Name :	Mr. Debjyoti Ghosh
Designation :	Director
Address :	Gurusaday Dutta Road, By-Lane, Bharat Nagar, P.O. Rabindra Sarani, Siliguri – 734 006, District – Darjeeling, West Bengal, India
Date of Birth/Age :	06.11.1976
Date of Appointment :	01.04.2011
DIN No.:	05236996

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	U32109WB2006PTC108861	ANANDAMELA ELECTRONICS PRIVATE LIMITED	Director	01-04-11	01-04-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Tushar Kanti Ghosh	196322
Hirendranath Mitra	265116
Parthasarathi Mitra	136743
Shukla Dey	244861
Soma Dey	126446
Shanta Paul	127123
Papiya Ghosh	40000
Shefaly Ghosh	42500
Sunil Bose	42500
Total	1221611

As on 30.09.2011

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

BUSINESS DETAILS

Line of Business :

Manufacturers and Exporter of Electrical and Electronics Goods.

GENERAL INFORMATION

Suppliers :

· Asian Photo Company

· LG Electronics India (Private) Limited (GSM)

· LG Electronics India (Private) Limited (PARA)

· Samsung India (Private) Limited

· Topsel Toyata (Private) Limited

· Shree Ganeshji Maharaj

· Himalayan Industries

· Voltas Limited

Customers :

· Ambics Enterprise

· Das Vision

· Galaxy Electronics (Siliguri)

· Larsen and Turro Limited

· Digital Electronics

· Radio Mart

· Radio Sign

· S.S. Electronics (Siliguri)

· Saha and Company

· Steel Craft

· A.M. Electronics

· City Marketing

No. of Employees :

Not Available

Bankers :

· State Bank of India, SME Branch, 5^th Floor, Sky Star Building, Sevoke Road, Siliguri – 734001, West Bengal, India

· Axis Bank Limited

Facilities :

Secured Loans	(Rs. In Millions ) 31.03.2011	(Rs. In Millions ) 31.03.2010
State Bank of India, Commercial Branch, Siliguri in Cash Credit Account	45.442	35.929
Total	45.442	35.929
Unsecured Loans	(Rs. In Millions ) 31.03.2011		(Rs. In Millions ) 31.03.2010
From Directors and Shareholders	11.335		10.822
Total	11.335		10.822

Banking Relations :	--
Auditors :
Name :	D.K. Banerjee and Company Chartered Accountants
Address :	51, Sevoke Road, Near Pani Tanki More, Siliguri – 734 001, West Bengal, India
Pan No.:	ADHPB0105D
Associates/Subsidiaries :	Binsons Plantations Private Limited CIN No.: U01132WB1997PTC085936

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1294111	Equity Shares	Rs. 10/- each	Rs. 12.941 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		12.941	5.891	5.891
2] Share Application Money		1.998	7.549	4.498
3] Reserves & Surplus		6.833	3.514	1.375
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		21.772	16.954	11.764
LOAN FUNDS
1] Secured Loans		45.442	35.929	26.235
2] Unsecured Loans		11.335	10.822	10.454
TOTAL BORROWING		56.777	46.751	36.689
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		78.550	63.705	48.453
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		24.683	1.603	1.893
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		6.777	6.978	6.977
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	27.427	19.990	14.228
	Sundry Debtors	13.348	17.091	12.020
	Cash & Bank Balances	10.750	8.817	13.434
	Other Current Assets	0.511	0.203	0.203
	Loans & Advances	9.533	12.984	4.642
Total Current Assets		61.569	59.085	44.527
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	10.843	1.535	3.558
	Other Current Liabilities	1.174	1.448	0.264
	Provisions	2.463	0.978	1.122
Total Current Liabilities		14.479	3.961	4.944
Net Current Assets		47.090	55.124	39.583
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		78.550	63.705	48.453

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	427.585	358.722	211.910
		Other Income	0.001	0.025	3.433
		TOTAL (A)	427.586	358.747	215.343
Less	EXPENSES
		Cost of Goods Sold	401.000	338.251	200.691
		Payment to Staff	0.446	1.338	0.000
		Rent and Taxes	1.798	0.681	0.401
		Advertisement and Publicity	0.021	0.108	0.255
		Director’s Remuneration	2.220	2.652	2.208
		Repairs and Maintenance	0.077	0.180	0.149
		Other Expenditure	6.497	6.088	4.112
		TOTAL (B)	412.059	349.298	207.816
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		15.527	9.449	7.527
Less	FINANCIAL EXPENSES (D)		7.780	5.995	6.070
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		7.747	3.454	1.457
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.942	0.290	0.361
	PROFIT BEFORE TAX (E-F) (G)		4.805	3.164	1.096
Less	TAX (H)		1.485	1.025	0.426
	PROFIT AFTER TAX (G-H) (I)		3.320	2.139	0.670
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6.833	3.514	2.844
	BALANCE CARRIED TO THE B/S		10.153	5.653	3.514
	Earnings Per Share (Rs.)		16.82	3.71	1.28

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.78	0.60	0.31
Net Profit Margin (PBT/Sales)	(%)	1.12	0.88	0.52
Return on Total Assets (PBT/Total Assets}	(%)	5.57	5.21	2.36
Return on Investment (ROI) (PBT/Networth)		0.22	0.19	0.09
Debt Equity Ratio (Total Liability/Networth)		3.27	2.99	3.54
Current Ratio (Current Asset/Current Liability)		4.25	14.92	9.01

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	No
Name of Person Contacted	No
Designation of Contact person	No
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	------------
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payments Terms	No
Export/ Imports Details (If applicable)	No
Market Information	-----------
Litigations that the firm/ Promoters Involved in	------------
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	------------
Buyer visit details	--------------
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

Form 8

Corporate identity number of the company	U32109WB2006PTC108861
Name of the company	ANANDAMELA ELECTRONICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2, Bidhan Road, Opp. Kanchanjungha Stadium, Siliguri – 734 001, West Bengal, India
This form is for	Modification of charge
Charge identification number of the modified	80036065
Type of charge	Immovable property Any interest in immovable property Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	State Bank of India, SME Branch, 5th Floor, Sky Star Building, Sevoke Road, Siliguri – 734001, West Bengal, India E-Mail: sbi.04126@sbi.co.in
Nature of description of the instrument creating or modifying the charge	1. Supplemental Agreement of Hypothecation; 2. Memorandum for recording extension of Mortgage by deposit of Title Deeds covering enhanced limits.
Date of instrument Creating the charge	27.12.2011
Amount secured by the charge	Rs. 55.764 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Working Capital- 4.25% above Base Rate (BR presently 10%) i.e. 14.25% p.a.; Term Loan- 4.25% above BR+Term Premia (0.75%); i.e. 15.00% p.a.- both at monthly rests. SLC - present rate - 15.25% p.a. Terms of Repayment: Working Capital - repayable on demand. Term Loan - as per existing terms. Margin: Term Loan - 40% of Building. Working Capital - Finished goods - 25%; Domestic Receivables (90 days cover) - 35%. Extent and Operation of the charge: The charge operates as security for the overall enhanced limit of Rs. 55.764 Millions by first charge by way of Hypothecation of all movable and immovable assets including book debts & other receivables and mortgage of immovable properties of the Company, further secured by Personal Guarantee of Directors backed by mortgage of respective immovable properties of 2 Directors namely - Sri Tushar Kanti Ghosh and Smt. Papiya Ghosh.
Short particulars of the property charged	All movable and immovable assets including book debts & other receivables i.e. entire current assets of the Company. 3,200 sq. ft. showroom with common area and undivided share in 20 kathas, 10 chataks and 31.8 sq. ft. land vide Deed no. I-2010 at Sevoke Road, Khatian no. 5298, Plot no. 9607(Part), P.S. and Mouza-Siliguri. 3 kathas land with 3 storied residential building in Plot no. 10493, Kh. no. 4759, at 32 Girish Ghish Sarani, Hakimpara, Siliguri vide Deed no. I-1459 - Owner Shri Tushar Kanti Ghosh. 3 kathas land in Plot nos. 32, 129/758, Kh. no. 589/1,J.L. no. 2, Sheet No. 13, Mouza Dabgram, Dist. Jalpaiguri vide Deed no. I-224/08 - Owner Shri Tushar Kanti Ghosh. 15.50 kathas land in plot no. 53/738 and 51, Khatian no. 595, Mouza Dabgram, Dist. Jalpaiguri vide Deed no. I-222/2008 - Owner Shri Tushar Kanti Ghosh 5.50 kathas land and 1 storied residential building in plot nos. 32,129/758, 125,Kh. no. 589/1,J.L. no. 2, Mouza Dabgram, Dist. Jalpaiguri vide Deed no. I-224/08 - Owner Shri Tushar Kanti Ghosh. 1st floor Flat no. 2A, 1406 sq. ft. incl. proportionate undivided area of Plot no. 10273, Khatian no. 5061, P.S. and Mouza - Siliguri vide Deed no. I-1134 - Owner - Smt. Papiya Ghosh.
Brief description of the instrument modifying the charge under section 135	Properties mentioned in (iii) to (vii) belong to two directors
Date of instrument modifying the charge	12.10.2010
Particulars of the present modification	Overall Limit enhanced to Rs. 55.764 Millions all other terms and conditions other than rate of interest remaining same.

FIXED ASSETS:

· Land and Building

· Puja Showroom

· Air Conditioner

· Computer

· EPBAX System

· Fax Machine

· Furniture and Fixtures

· Inverter

· Mobile Instruments

· Vehicles

· Storewell

· Electric Installation

· Showroom

· Refrigerator

· Vending Machine

· Electric Installations

· Refrigerator

· Showroom

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. 53.84
UK Pound	1	Rs. 86.72
Euro	1	Rs. 69.17

INFORMATION DETAILS

Report Prepared by :

ACH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		27

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.